This is amazing stuff; it involves something I was never very good at – mathematics.
In marketing, applying the principle of MULTIPLICATION will work immensely more powerfully for you that the principle of ADDITION.
Check out the Fibonacci Sequence and see some amazing multiplication in nature!
The growth sequence doesn’t go as we normally count – 1, 2, 3, 4, 5, 6, 7, 8, 9, etc.
Fibonacci goes this way – 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, etc
Yes, I hear; what has this got to do with marketing or MY business? Quite a lot actually!
First, some basic Marketing Spirit stuff I want you to understand:
…Business is primarily about people and relationships between people
…The primary purpose of a business is to serve a target audience, not to make money
…True serving begins when your customers walk out not when they walk in
…Relationships build over time and require regular communication
…Serving others is not natural for humans (i.e. nature makes us self-centered)
…Two things most people crave for – love and recognition.
Consider what normally happens when a new customer arrives:
# 1 – Pleasantries exchanged
# 2 – Request for a product/information/order/discussion
# 3 – Purchase made; pay; transaction done; walks out; may come back or may not
# 4 – Three (or was it nine) months later the customer wanders back in.
Instead – build each new customer relationship as a Fibonacci sequence:
# 1 – Initial contact and welcome; offer some unique information about what you do
# 1 – Find out about the person, the problem/need/want after all, you’re the expert
# 2 – Finalise their purchase, if it happens then; add some ‘wow’ (e.g. a gift)
# 3 – Make a promise you have to keep within say, 24 hours
# 5 – Follow up on-time thus keeping your promise
# 8 – Make sure they have a query that you need to answer (set it up if you have to)
# 13 – Get their permission to make contact when x arrives/happens/is ready
# 21 – Ring the next day to thank them for their business (and remind of guarantee)
# 34 – Your first newsletter is sent or Blog invitation.
OK, the numbers may be a bit optimistic but compared to the ‘normal’ situation you would have to be in front in the relationship-building game.
I went to the same menswear store for 28 years and never even got a phone call. The sales action only happened when I chose to walk in; the last time was 7 years ago!
This is not rocket science; it’s the outcome of a simple process or system developed by a marketer – YOU. It could be put together in a series of brainstorming sessions along the lines of – ‘how to increase the number of contacts we have with customers’.
Now that’s the Marketing Spirit.