ONE. Your approach was not unique.
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TWO. Those who “need to know” need to be aware of what you offer.
THREE. Not using or a poor handling of prospect and customer data.
FOUR. Not enough customer data collected or analyzed.
FIVE. Not tracking and collecting customer data from emails, social media, or your website.
SIX. Lacking a multi-strategic marketing approach.
SEVEN. Your marketing and advertising communications are not beneficial to your customers.
The biggest reason in building my list of seven insights started when people find the next wonderful thing in marketing, sales, and advertising to bring in more customers. For example, our first one was the introduction of direct mail. In the 1950s, advertising direct mail flourished because everyone had a mailbox.
Then color television hit the scene, followed by transistor radios. More channels entered the market. Contact management software was a sure hit. Next was data management, the WEB, social media and on and on.
What happened next? If you are a mailer and guessed competition in the mailbox, you are correct. Direct mail still is in contention 75 years later.
More competitive ideas, one after another for using direct mail, works for a while before other channels offer a lower rate or another idea or two to persuade others that direct mail is dead.
A next-door neighborhood once mentioned to me when he was in grade school in the sixties, he delivered newspaper sized flyers for one of the area’s largest department stores. They were 10 to 12 pages and sometimes more with a holiday approaching, which he folded and threw a copy toward the front door to every house in his neighborhood. He guessed the total delivery was over 500 to 600 flyers every Thursday. I am sure he was cheaper than the postage cost using direct mail delivery.
Other channels entered the market in the sixties. Television was growing, especially color. The transistor radio entered the market, providing more people to hear a sales message. Next, more channels emerged, such as contact management software, CRM, customer data, social media.
At present, the next best marketing and advertising channel to use is digital marketing, not only retail, but B2B as well. Since everyone has the means to visit the web, direct mail again has more competition.
Customers come and go. Their life changes. People move. There is a new flavor down the road. There are many reasons for how and why customers change.
Look at the seven insights once again. Then dig into your customers and prospect data. The more you know about customers and potential customers, alerts you about changes in their purchasing patterns. Changes in your competition. Changes in communication channels you used to reach them.
Insight is a wonderful thing in marketing and advertising.
