Unlocking Your Hidden Goldmine

Unlocking Your Hidden Goldmine

January 14, 2011  |  Hints & Tips

The majority of Bahamian based businesses are leaving an absolute gold mine untapped.  What is this gold mine that I speak of?  This gold mine is your current customers and individuals who have already visited your business or website.

Any small business owner knows that it is infinitely easier to sell to someone who has already purchased from you in the past than it is to obtain a new customer.  So what are you doing to stay in contact with past customers?

Think about this:  How much money do you think you spend on getting one individual to visit your business or website?  How much money do you spend on getting them to make a purchase?  You probably spend thousands of dollars each month on advertising to get new clients, so why not keep in touch with them.

The answer to this conundrum is email.  Email is the key to improving your communication with your customers and potential customers.  Email can help you dramatically increase sales, improve your ROI, and perhaps cut your advertising budget in half.

Imagine if you collected the email address of all of your customers and people who visit your website and your business each and every day.  Now you can send them:

  • Information and updates on your latest services and goods
  • Special Offers and Discounts
  • Time sensitive coupons
  • Information on products and services related to their recent purchases
  • Holiday Business Hours
  • And Much More…

But imagine not only that you are able to do this but that you don’t have to pay the newspapers the ridiculous fee to do so.  Another advantage to this is that unlike traditional advertising such as newspapers and flyers is that the people you are emailing are highly targeted prospects.  You know that they have an interest in your goods or service.  They are more likely to buy from you than most other people.

Understand, however, that there are right ways and wrong ways to go about doing this.  Most businesses shy away from this sort of marketing because they either have not thought about this or they don’t understand it.  Due to recent spam laws, you cannot just start emailing random email addresses that you have collected over time.  Your customers and potential customers have to give you permission to send them email.  This will ensure that your business retains a good reputation but also ensures that you are only marketing to people who are truly interested in your goods or services.

It is a bit too technical to get into here but needless to say that when setting up an email marketing system you want to ensure that you are following all spam laws and preferably using a double opt-in system.

Another key feature to using email is that you can automate the entire process.  Any email marketing system worth its salt will allow you to set up several follow up messages and have them emailed out to subscribers automatically over a predetermined space of time.

For example, if you sell cars, you can collect emails from individuals who have purchased cars from you and you can send them follow up messages after the purchase of the car that promote back-end sales and products.  Some sample messages could be:

  • Improving Your Car’s Performance (selling them accessories and performance parts)
  • Time for an Oil change (Automatically sent three months from the purchase date)
  • The best tires for your vehicle (Selling them new tires for their vehicle)

The list goes on and on but the key idea here is that this system would send all of these emails out automatically at predetermined times.  If you have an annual sales event, you could also program this into the system to automatically send out notices and invitations beginning three weeks before the event.

I could rant about this for hours but the needs for each business would be different.  The main concept to take away from this is that you can capture contact information from your current influx of consumers and market to them anytime you’d like, automatically.  This can increase your bottom line, save you money, save you time and it utilizes an asset you already have, your customers!

In future articles I’ll be writing about how to properly utilize a mailing list and how to get customers to sign up.  For now, if you have any questions or if you’d like to share something, please leave us a comment below.