Are you worrying if you should allocate more of your lead generation budget to social media or company blogs? Stop worrying! Read this article to learn how relationship marketing will lower you cost per lead – to keep you into business!
# Be noticed in an over communicated market
To take the subject of this article by the horns – relationship marketing. Why should you care about relationship marketing? As more and more people enter the social web and spend a lot of time on Facebook, YouTube, Pinterest, Google+ or LinkedIn, it’s getting harder for every marketer or entrepreneur to connect with their target audience. Simply, as the amount of content grows each day, the amount of lost content grows equally. So, how does your business get noticed on an over communicated social web?
Not with one shot marketing messages! The old days of mass marketing PUSH messages are gone! Pushing your messages on the social web is like shooting arrows in the water; they don’t stick! Not you, but your receiving audience decides if your content is worth their valuable time. And if they value it high enough, they will most likely share it with friends. As HubSpot says:
“…outbound marketing (businesses that push their messages at consumers) has become less effective as buyers have behaviorally and technologically (e.g., DVR, spam filters, ‘do-not-call’ lists) tuned these interruptive campaigns out!”
# Value your customers – focus on relationship first
Okay, suppose you agree to put more effort in inbound marketing to pull your customers to your central hubs (website, local store, restaurant, et…). So, how do you get your audience attention – given that there’s so much noise out there pulling them each day!
Well, here’s a simple solution: create a REMARKABLE message. A message that people make a remark about! However, remarkable messages might get your business some viral visibility on a short term, it’s not a solid strategy for the long term.
Luckily you have an alternative: invest time and effort in building relationships with your audience. Keep doing that for a long time without expecting anything in return. Make them laugh or cry – wow or inspire. Share content that makes them coming back for more. The kind of content that reliefs their everyday worries, helps solve their problems or fulfills their dreams. After a while, when the relationship gets stronger – you’ll notice they even want to do business with you. Congratulations! You finally figured out how to lower your cost per lead dramatically.
Here are 3 simple action steps to change the course of your business today:
- start a business blog and/or increase the frequency of your blog posts to more than once per week (59% of companies consider their business blog “important to critical” for their business; HubSpot – The 2012 State of Inbound Marketing);
- dedicate most resources to social channels that have proven to be most effective in your industry (blog, LinkedIn, Facebook, Twitter, Google+, Pinterest, YouTube, etc…);
- know ‘the words’ your audience uses in their desperate search to solve their problems or fulfill their desires: optimize your content to increase your organic generated web traffic (Search Engine Optimization | SEO);
[According to HubSpot's 2012 State of Inbound Marketing Report, businesses that follow these 3 action steps and dedicate resources to inbound marketing, lower their cost per lead with 50 to 60 percent!]
# Stick to Pareto’s Principle: 80 – 20
So, how do you lower the cost per lead even more? Here’s a simple and straightforward answer: don’t push yourself to serve every customer! Stick to Pareto’s principle and you’ll do great: generate 80% of your sales with 20% of your customers. In other words: focus – focus – focus!
Think Niche marketing. If you focus on customers who value your weirdness (uniqueness), you most certainly will build a solid relationship. Every solid relationship thrives on passion. So, follow your intuition in the relationship and use your rational mind to track the results over time with solid KPI’s (key performance indicators). Focus on those ‘weird’ customers that generate the highest revenue for your business.
Take away: if you want to stay ahead of your competition transform your marketing efforts to focus on relationship marketing! You’ll need creativity, empathy, smartness and a lot of focus to craft your social marketing strategy that thrives on solid relationships for your long term business success.
Please leave your reaction or question in the comment box below. I value my relationship with you