by Gauher Chaudhry
How often do you keep in touch with your past customers to Frequency marketing is simply identifying high value customers Reduce expenses? Yes, acquiring new customers always costs more money than Frequency marketing has been around long before the Internet. A Should you implement frequency marketing in your marketing Frequency marketing is a long-term strategy that requires The rewards that you offer should be of value. Here are a few Credit Card Contests - Some credit card companies are offering Stamp or Points - Companies will give you stamps or points that Contest and Games; Companies provide games or contests which You do not necessarily have to offer a tangible reward. Studies Be genuine about your rewards. How many times have you Don't promise the world. If you cannot deliver on your promise, When conversing with your customers, you should do it genuinely The most important aspect of a successful frequency marketing
announce a new product or service? Have you developed a
relationship with your customers since their initial purchase?
Do you consistently reward customers for their repeat business?
and building a solid relationship with them. It is also a very
effective way of branding your product or service. It is a
proven fact the developing relationships with your customers
will increase sales and reduce expenses.
selling to your existing customers. Most companies do not
realize the power of their in-house mailing lists.
prime example of frequency marketing are the many
"frequent-flyer" programs. Many airlines offer free air miles
if you travel on their planes. This is their method of building
brand loyalty.
efforts?
commitment. Unlike promotions that may last only weeks,
frequency marketing programs could last for several years. If
you cannot make this type of commitment, then it will be tough
to develop a successful frequency marketing strategy.
more examples of frequency marketing:
you a chance to win prizes. Everytime you use your credit card,
you are entered into the contest.
can be redeemed for brand merchandise. (e.g. Pepsi Points)
require the player to make repeat purchases. (e.g. McDonalds
Monopoly)
indicate that rewards such as special treatment or recognition
provide a stronger bonding impact.
received
a "preferred member" plastic card with a toll-free number on the
back? Where is the value?
you could seriously damage you reputation and credibility.
and not generically. Sending a letter that starts off with
"Dear Valued Reader," will not be as effective as "Dear Jim,".
Remember you are trying to develop a relationship. Frequency
marketing communication is one-to-one, not one-to-a million.
program is to add "real" value to your customers. You have to
look at your product or service and decide whether it warrants a
repeat purchase. If you do not offer a high quality product or
service, your frequency marketing strategy will fail miserably.
Frequency marketing is not for all businesses. They usually The downside to frequency marketing is that once all your Frequency marketing is still in its infancy on the Internet. About the Author
Gauher Chaudhry is editor of Cool Cash Ezine. You can subscribe
apply to business that have a high need for repeat business.
You should also be in a business where it is hard to
distinguish between you and your competitors to effectively use
a frequency marketing strategy. If you have a monopoly in your
business, it does not make sense to implement a frequency
marketing strategy. Everyone has to purchase from you no matter
what.
competitors realize how successful it is, they will jump on the
same bandwagon. Pretty soon, the whole strategy becomes
meaningless if everyone else is doing it. That is why a
frequency marketing strategy needs to be well thought out and
constantly reapplied or revamped.
There are many programs evolving at this moment. There will
be a lot of companies implementing this long-term strategy into
their marketing efforts. Will yours be the next?
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