03 Aug Change Takes Many Forms
Change can represent many things and take many forms.
When we are successful, oftentimes, we continue to do what we have always done. We don’t want to rock the boat. However, take a moment to consider what would happen to your productivity if you continued to use a typewriter instead of the computer (or handheld) on which you are reading this article.
How about the direct mail pieces you receive in your mail box every day? Do you take the call from a telemarketer? If you are reading this article, you not only read your emails, you clicked through for more. This is, hopefully, through a combination of interest in what I have to say and trust that it will be useful to you.
Don’t get me wrong, typewriters and direct mail are useful tools. The fact is: every tool has its use. Today we are talking about creating and implementing a strategy that is effective for client interaction and retention. In fact:
A 5% increase in retention yields profit increases of 25 to 100 percent. Repeat customers spend, on average, 67 percent more than new customers. Source: Bain and Company
By comparing your costs for email delivery versus direct mail, we need only figure in the subtraction of printing and US Postage costs.
Take for example a monthly newsletter your firm produces. For the same development costs plus a stack of change a month for email delivery, it is possible to contact your customer in a medium that not only informs and engages but gives them the opportunity to learn more about your product or service immediately, then quickly contact you about it.
The difference is this stack of coins versus printing and postage.
Next month we’ll discuss how we can measure and report the statistics involved in e-mail.