My good friend, Mike Sigers, wrote an interesting article about Wasted Ad Dollars on his blog, Simplenomics. In part, he says:"They continue to pour money into campaigns that have no chance at bringing in profitable customers, yet they continue to ignore the customers who have proven themselves by using their service or buying their product.
I hate an ad that says “ … For New Customers …”.
What in the world are you thinking ? What part of my money did you not like ? How about something for me, your faithful customer."
My husband (shown in the above picture with my daughter) got a Harley during his mid-life crisis phase and has commented a number of times about their continual promotions to customers. Some months they'll be a certificate for a free belt; other times a $20 gift certificate. The local Harley store sponsors a H.O.G. group, which gets together at least once a month. And during Bike Week , they bring in a number of bands to put on concerts right at the dealership.
Why would they do this?
- It solidifies the Harley brand in the mind of its's customers.
- The "feebie" drives bodies to the stores where they will spend much more than the cost of the certificate.
- Everytime they redeem a certificate, they are being exposed to newer, larger, and shinier models. You know what they say about boys and their toys!
Wealth is created by being willing to do what others won't. You can separate yourself from the herd real fast by letting your customers know you appreciate them!
