Marketing Seminars

What’s the best way to spend a lovely sunny weekend in the middle of August?  That’s right, by completing the notes and the power point for a new marketing seminar. 

Although I had put aside the time to do it, this was the only chance I will have to complete the material  before going on holliday next week, it turned out to be quite enjoyable.  As well as adapting some marketing ideas that I’ve used for my clients I researched some really big companies to see what they had done to grow so rapidly and – surprise – they used many of the same ideas.

The extensive notes will now speed up my book – The 50:50 Prinicple – which argues that people currently spend their marketing budgets in the wrong places.  About 50% should be spend on retaining existing customers and 50% on aquiring news ones.  This way you keep you clienst for longer. 

I talked about this idea in a newsletter a while back and a friend of mine called Tim Baker at The Design Chain came up with some interesting calulations which he e-mailed over to me again yesterday.

In the newsletter I had suggested that a customer bought from you 4 times a year with an average value of £50.  What would happen if that customer reccomended you to 2 new customers a year who also bought from you 4 times a year spending £50 each time and in turn each reccomended you to 2 customers etc etc. This is what Tim worked out:

I have imagined how much you could potentially generate over ten years if each customer spent £200 annually and you got a 100% success rate of each customer then generating another two new customers the next year, and so on… …by the end of year ten you would have 19,683 customers and total sales over the ten year period of £5,904,800, with a turnover of £3.9 million in year 10 ! And that’s without inflation.

An intereting thought and one to make you appreciate the importance of treating your existing customers well! 

The Ideal Marketing Company supports Leicestershire and Northamptonshire companies as well as companies from across the UK with marketing, PR and direct mail. The Ideal Marketing Company helps support companies with marketing consultancy in order to generate new business wins as well as making the most of existing customers.

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