I recently had the pleasure of meeting a local business owner who, like many others, is managing the impact that Covid-19 has had on her business. In addition to managing this setback, she has ambitions to grow her business beyond pre-Covid revenues.
Her repeat business used to be reliable, but the pandemic has her month-to-month revenue down by a significant margin. So there’s that.
As for new business, her existing client base represents a limited segment of the market. The business could grow if only she could attract different demographic groups.
She also has an opportunity to build out new and complimentary services, but needs to increase revenue to fund this initiative.
What to do? Where to start?
These situations always feel complicated. Fortunately, the answer is often simple.
For this business owner and many others, the best first course of action is to focus on existing contacts, also known as her database or list.
Marketing to existing contacts is generally easier, more effective, and less expensive than pursuing new business.
It’s easier because you probably already have what you need. In this case, the business owner already has an extensive list of people who have purchased from her in the past 10 or so years. She already has an email software subscription, too.
Marketing to existing contacts is more effective than going after new business because these people already know, like, and trust you. If they had a positive experience with you before, they are already primed to return and refer to you.
Marketing to existing contacts is less expensive because you’re usually using existing business infrastructure to communicate with prospects – not buying new or additional ads to communicate with the masses.
Okay… Focus on existing contacts… but how?
Email and print newsletters may be the best place to start.
I’m NOT talking about putting any old content into a newsletter and sending it out the door. It requires strategic and tactical forethought. It should facilitate an exchange of value. And it should be consistent.
When you stay in front of the people who know, like, and trust you with quality content, newsletters generate new, referral, and repeat business.
One of our core services at Proven Marketing for Professionals Inc is the Newsletter Program. We create and send email and print newsletters for clients to help them achieve their practice-building goals. We can also set you up with an email marketing software if you need one.
To learn more about newsletter marketing, email Hello@CatherineCrosbie.com to schedule a free consultation. We’ll explore whether it’s a fit.
Proven Marketing for Professionals Inc.
“Canada’s only education-based marketing consultancy exclusively for professionals in private practice”