Graham McGregor: Your most valuable marketing asset

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Opinion

Many years ago I received a letter from an unhappy client named Stephen.

His letter started off by saying 'Don't you like me?'

It went on to explain that Stephen had spent a lot of money on an expensive product and that he was delighted with his purchase. But he hadn't heard from me for over a year and was wondering if I didn't like him anymore. He told me I was making a big mistake by not staying in touch. (As a happy client like him could easily give me a lot of repeat and referral business.)

I was embarrassed to read Stephen's letter because I realised I had ignored the most valuable marketing asset we all have in any business.

And that asset is the group of people who know, like and trust your business and are happy to have you contact them on a regular basis.

After reading Stephen's letter I changed my marketing approach.

I decided that my new marketing goal was not just to make sales.

Instead it was to build a 'community' of people, who knew, liked and trusted me and were willing to have me contact them on a regular basis.

So I made up a list of three groups of people.

Past and present clients (like Stephen.)

Potential clients that I had sent some information to.

And centres of influence who knew me in some way. (A centre of influence is someone who can potentially refer you to large numbers of people they know.)

Every month I started sending each person on these lists something that I thought would 'add value' to them. (I picked different things for each person.)

One month I sent out a free $1 Instant Kiwi ticket. Along with a short note saying I was giving them a fun opportunity to win up to $10,000 in 30 seconds. I also mentioned that I appreciated their past business or interest in what I was selling.

Another month every paid client got an unexpected double movie pass along with a short note thanking them for their business.

I started writing a motivational newsletter with helpful articles on goal setting, time management and positive attitude. I sent this to everyone on my list.

I began to look for helpful business improvement articles and sent these to clients who owned a business.

Keep in mind that the product I was selling at the time had nothing to do with the added value material that I was sending out to these people.

I sent it out because my goal was to build a community of people who knew, liked and trusted me and were happy to have me contact them regularly.

Within six months positive things started happening.

I began getting some nice referrals from the people I was adding value to.

Within twelve months Stephen had contacted me again. This time he told me was delighted with what I was doing for him as it made him feel valued and important.

A short time later he made a repeat purchase and referred me to a family member who also spent a substantial amount of money.

Within 2 years around 80% of my business was coming from my loyal 'community' of people who I was regularly in touch with and adding value to.

A loyal group of people who know, like and trust you takes time to develop. It could also become the most valuable marketing asset you have.

Action Step:

What can you do this week to start building a loyal group of people who know, like and trust your business? How can you 'add value' so they are willing to let you contact them on a regular basis?

"Every great business is built on friendship."
JC Penney

Graham McGregor is a marketing consultant and the creator of the 396 page 'Unfair Business Advantage Report.' www.theunfairbusinessadvantage.com (This is free and has now been read by business owners from 11 countries.) You can email Graham on graham@twomac.co.nz