How E-Mail Marketing Helped a Company Grow
One of the fastest ways to lift your strategic marketing out of the doldrums is to look at what a successful company is doing and see if there are structural approaches you can applly to marketing your business. For most of us, this type of learning is accomplished best by reviewing success stories that demonstrate winning business development that led to increased top-line revenues.
Here’s a real challenge: Figure out a way to grow higher sales using a lower budget. After a fairly quick analysis of a company’s overall marketing, it was readily apparent that it was relying on extremely traditional media communications that leaned heavily on trade show exhibitions, print advertising and direct mail.
Please don’t misunderstand me, I am not opposed to any of these tactics. I’m just saying this type of media was being produced at a hefty price tag with little return for the company’s investment.
Closer analysis showed that a business-class e-mail marketing program would generate significantly higher response rates because it was how the company’s key customers preferred to receive information. Is every industry and situation identical to this company’s? No! But e-mail’s greater value was true in this case.
Here’s a quick overview of what made the program a success.
The company provides financial services to a wide variety of business clients in many different industry sectors, including industrial capital equipment, professional services and not-for profit organizations, including associations. The company supported a standalone division that relied heavily on the leads it received from the marketing department.
Industry focus group research quickly brought to light that the company’s industry had dramatically changed during the past five years and that more sales were being initiate via the Internet and telephone than at trade shows and through responsive print marketing.