In our conversations with numerous business owners, we’ve come to understand that while most acknowledge the importance of marketing and advertising as long-term strategies, many still desire immediate, effective solutions to bring in business.
Throughout these dialogues with businesses at various stages of growth, we’ve identified a common overlooked asset that can stimulate customer engagement – the list of past customers or clients. This list, your first-party data, is an invaluable resource that you own and can deploy to your advantage.
Within the world of data collection, there are three main categories:
First-party data: information you collect
Second-party data: data you and another entity collect
Third-party data: data collected by an entity and sold or shared with a third-party
This data typically includes basic customer information such as name, address, phone number, email, and birthday. There are several strategies for leveraging this data to your advantage, and we’ve highlighted five of them below:
Email Marketing: A simple yet effective way to reach out is through monthly emails. These need not be lengthy; a brief overview of your recent activities or accomplishments will suffice. For instance, a landscaping company might include before-and-after pictures of a recent project.
Direct Mail Marketing: Mailboxes aren’t just for bills. Engage your former clients with flyers, newsletters, and coupons. For example, as a lawyer, you could remind past clients about the breadth of your practice areas, or share about any new areas you’ve ventured into.
Online Retargeting: Many digital marketing and advertising platforms allow you to retarget your customers and similar profiles using their email list.
Retargeting on Streaming TV: This strategy involves placing ads on your clients’ TV screens. Being on a larger screen can often create a more significant impression. A commercial doesn’t have to cost you an arm and a leg – a budget of $500-$1000 can result in an effective 30-second spot.
Phone Calls: Don’t underestimate the power of a personalized phone call. A simple check-in can often lead to renewed business. Designate a member of your team to connect with 10-15 former customers each day.
These are actionable strategies, underpinned by the principle of customer re-engagement. Remember, out of sight often means out of mind for most customers. Regardless of the value you’ve provided in the past, they are likely to forget about your business in the midst of their busy lives.
Unless, of course, you remind them. Regularly communicating your continued presence and services is crucial. Utilize your first-party data to ensure your business remains front and center in your customers’ minds.
