If my customers don’t remember who I am then it’s MY fault because I’m not keeping in touch with them. So, if your customer got stolen from you because you didn’t use the proper tools to actually keep in touch with them and build that relationship, it is YOUR fault.
Having a newsletter actually builds a relationship with your customer and, if designed properly, they will read the whole thing, and may even pass it on to a friend or a family member. I’ve actually booked business this way. I’ve gone to an appointment and I my newsletter is on the refrigerator .
Out of all the forms of marketing, the monthly newsletter to me is the most valuable marketing tool that is available. Don’t get me wrong, I’m not giving up on any of my marketing strategies, but if someone came up to me and put a gun to my head and said, “You have to give up all of your marketing but you can only keep one”, the answer would be my newsletter. It would win hands down.
I ran the numbers from tracking the newsletter and 32% of my business in 2014 I attribute to my customers actually receiving my newsletter. Here is the wild factor..for every dollar spent on sending out my newsletter, I receive $21.37 in return. That’s an excellent return on investment. Will everyone receive that kind of return? Probably not, maybe yes, maybe no, maybe more.
If you’re not building a relationship with your customers then you are not going to be able to be that “go to person”. You’re not going to be an “expert” because you’re just another guy. I think if you’ve listened to our podcast, we talk a lot about not being a commodity, of being a value to your customers. When you keep in touch with them on a regular basis you’re being a value to them because you’re doing something that no one else does.
Why is that? Every month you don’t communicate with your customers the relationship that you’ve having built decreases. Here is a very interesting thing as far as building that relationship is concerned. It needs to be done on a monthly basis. Proven fact that if it’s done every 90 days, then you might as well not even send one out, because they are going to forget about you. The consistency of doing it monthly is key.
Five ways newsletters will grow and profit your business.
- Increase the length of time your customer does business with you, in turn increasing your profits and building the lifetime vale.
- Stay on top of mind. You engage them each month and they remember who you are.
- It’s far easier to sell more to existing customers than it is to find new customers.
- Build your celebrity status, and who you are because nobody else is doing that, and of course this builds your relationship with the people.
- Newsletters have a “pass around” value.
E-mail versus regular mail Newsletters
Almost about everyone has an email address, but you can be guaranteed everyone has a physical mailing address. With today’s email and the way everyone is using it, you are lucky if your open rate is close to 15%. Sure I know people who have 50 plus percent open rates, but they are proficient at writing catchy subject lines.
When a hard copy newsletter is delivered to a house it has a 100% open rate, because it’s designed like a flyer with news articles on it. So it’s in your face. How do I know this? Because like you I bring the mall in the house and separate it into two piles…one pile gets opened and one gets thrown away.
Every month they are getting something from me that’s keeping me in front of them and I am reminding them of who I am and what I do.
What makes a bad newsletter? Mistakes most people make when they publish their newsletter.
I see a lot of newsletters that are just down right ‘boring’ it’s just the biggest waste of money. I’ve seen one from a dentist who tells you all about teeth and gums and everything about the mouth. I don’t really want to know about that. You must keep your newsletter from being BORING.
What you’re trying to achieve is again to build that relationship. It’s the relationship that builds long lasting businesses. If there’s no relationship then there’s no business.
Another mistake is allowing people to advertise in your newsletter and then you advertising monthly specials for your business. I think this is a big mistake. I think that it can be done occasionally, but for the most part, it’s not a good thing because the newsletter is being thought in your customers mind as a non-threatening instrument to read. It’s a publication, it’s not an advertising tool so be careful.
If you are going to run a special or want to advertise a business or businesses or even specials, I recommend that they be on an insert. It’s strange but the insert breaks the barrier of the advertisement. It keeps the newsletter personal.
Newsletters are a great way to reactivate old customers
If you haven’t been consistent or do not at this point do a newsletter, and then it’s a great way to reactivate former customers. Most people stop doing business with you because they feel like you didn’t care about them (this is statistics from the Rockefeller Corporation). Sixty-eight percent of consumers’ leave because they think that a business doesn’t care about them. That’s crazy, right? No, it’s not crazy because that’s what happens – people don’t feel like you care about them.
Let’s get started today, let’s start the process. Hopefully, we’ve given you the basics of everything you need to do to start your own newsletter. I’m sure that we gave you enough information on the importance of doing a newsletter, or why you want to do it. It’s because you want more profit, you want your customers to stay with you for as long as humanely possible, and because you’ve you want to build a long lasting relationship with them.
I want you to be more profitable and not lose any more customers so I’m offering my newsletter on a subscription basis. A “Done For You Contractor Marketing Newsletter” so you can build a long lasting relationship with your customers.
Click here to find out more about the done for your monthly newsletter subscription