It’s often said that 50% of advertising dollars are wasted. After 35+ years in the business, I suspect it’s closer to 90%.
When it comes to planning your marketing budget, how hard would it be to allocate 10% for communicating with customers? That’s all it takes to reach them 4x a year in the comfort of their homes. And it costs 1/2 of that if you use your CAP/co-op funds to pay for the newsletter.
Today’s customers are not brand loyal like our parents and grandparents. Something as simple as a postcard from your competitor can get your customer to pick up the phone and try someone new. The best way to combat that is to reach out to your customer quarterly, reminding them that YOU are their provider. Why spend $350+ to get a customer, and then fail to nurture them?