Drip Marketing: Retaining Customers & Maintaining Mind-Share
By Shari Worthington
President
An appalling statistic crossed my desk the other day. According to a new US
government survey, 70% of all B2B customer defections are due to a general feeling
of indifference from their suppliers.
But how can that be? 70% of all defections? Don't our customers realize how
important they are to us? Don't they realize we think about them night and day,
strategizing how to keep them happy?
Well, I'm here to tell you the answer is no. Most customers don't realize how
important they are to their suppliers. In fact, many think their suppliers don't
much care at all. Why? It often comes down to one of three problems:
- BAD ATTITUDE: Many suppliers really don't care about their customers; the
focus is simply on getting the current month's orders.
- FAILURE TO ACT: Those suppliers who do care, often fail to visibly demonstrate
their concern.
- LACK OF MIND-SHARE: Virtually all suppliers are dreadful at keeping themselves
prominent in their customers' minds. When it's time for the customer to place
that next order, you want your company to be the first to come to mind.
Customer Centered Growth
If your problem is "bad attitude" or "failure to act,"
take a few minutes to read the critically-acclaimed book, "Customer
Centered Growth" by Richard Whiteley and Diane Hessan. In this book,
the authors examine why some companies break away and achieve dramatic growth
in today's rapidly changing business climate. It all comes down to five key
strategies for renewal.
- Shift from an identity crisis to a laser-beam focus
- Don't just listen to the voice of the customer -- hardwire it
- Convert teamitis into universal collaboration
- Turn customer satisfaction into lasting customer enthusiasm
- Move from facilitative leadership to contact leadership
Drip Marketing
But if your problem is a lack of mind-share, let me introduce you to the concept
of "drip marketing." The goal is to keep your name, your reputation,
and your products and services front and center in your customer's mind. When
the customer is ready to make that next purchase, or when a colleague asks for
a recommendation, your company is the first to roll out of their mouth.
As the name implies, drip marketing is steady and constant. It's not Chinese
water torture, but it is regular and it's effective. Drip marketing is centered
around providing a constant supply of information to your customers and prospects.
Specifically, drip marketing is a direct marketing strategy that involves sending
out a regular series of communications over a period of time. The vehicles include
postcards, newsletters, e-newsletters, customized letter and brochures, case
histories and white papers. The goal is to focus each communication on the interests
of the customer or prospect and provide information that will move them closer
to the first, or the next, sale.
Drip marketing is most effective when you combine it with a 1:1 marketing strategy.
Create batches of communications that focus on a subset of customers or sales
leads. Then consistently send something every month. Focus on mixing industry
information with technology tutorials and sales promotions. Avoid the temptation
to just send flyers about upcoming sales as these do nothing to further your
credibility nor do they encourage your customer to think of you as a critical
resource in their industry.
In fact, a new survey from Forbes.com and Bitpipe.com documented that a majority
of business buyers use white papers or case studies to evaluate technology products
and services. After reading them, 78% pass them on to colleagues. In addition,
93% of the survey respondents said high-quality vendor white papers positively
influence their image of a company.
As an example, many of our clients send out a regular e-newsletter to prospects
and customers. They cover industry news and new products from the company. In
all cases, each and every issue results in new sales as a direct result of the
e-newsletter. That, combined with a steady stream of product announcements,
feature article coverage, and advertising will keep sales constantly moving
upward.
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