Are you leaving money on the table?
pThe Holy Grail of advertising./p
pWe all know how hard it is to gain new customers, but unless you are a brand new business most of your revenue should be coming from existing customers.nbsp; If you are totally dependent on new customers your revenue is very unpredictable./p
pConsulting firms like mine spend a lot of time helping businesses build sales funnels to bring in prospects and ultimately convert some percentage of those prospects into customers.nbsp; The question is, how many people are focusing on developing the revenue streams from their existing customers.nbsp; What if we could find ways of adding new revenue streams, and perhaps even make money when our customers are shopping for other businesses products or services?/p
pIs it possible?/p
pWith the technology we have today, it is.nbsp; What if we could offer our customers something of value, say a discount on a future purchase, and in exchange they opted in to our online marketing campaign.nbsp; In this way we are given permission to put our marketing message in front of people who have already purchased our products./p
pAs I discussed in an article on mobile marketing, getting our customers to opt in to our mobile marketing efforts can lead to a much higher degree of revenue predictability.nbsp; If we know who is most interested in our products and we alert them via the media they always have near them (their cell phone) when we are having a special or sale, we have the opportunity to greatly increase the effectiveness of our promotional efforts./p
pI think we can all accept that our customers buy products and services from other businesses as well, but what if we could put our ad in front of their eyes any time they performed an online search?nbsp; Would it be useful if we could rotate our ads regularly throughout the day/week/month to keep fresh ads in front of our customers?nbsp; I think it could be very beneficial, and today it is possible./p
pWhat if we could ad a new revenue stream?nbsp; What if we could be paid for showing our ad and other companies ads to our customers.nbsp; Thats how Google makes their money, and last year Google netted $6.2 Billion.nbsp; Could your business handle a small percentage of that?/p
pWhat if we also could get paid a commission for selling someone elses product to our customer?nbsp; In internet marketing they say there are three ways to get customers, earn them, buy them, or borrow them.nbsp; Would it be ok to let another business borrow our customers if they paid us a commission on the product sold?nbsp; No inventory, no marketing efforts, no employees.nbsp; Maybe its just me but that sounds like a really nice revenue stream to ad./p
pThe good news is that all of this is available today and we are helping our clients deploy each strategy discussed.nbsp; In some cases there are massive changes in a companies revenues./p
pThe world is changing, and the way to market your business must change accordingly.nbsp; Lets work together to ensure you dont get drowned by this new wave of marketing technology./p
