The most valuable asset in any business is their book of business, or customer relationship. Whether a product or service based business, this is essential
I think that most small business owners know that this is true; however, many times it appears that this key factor is left out of their marketing strategy. If they have a written marketing campaign, often it is a schedule of promotions and ads targeting new customers, completely ignoring the old. Even worse is when thousands of dollars are spent on an ad campaign and absolutely no focus or attention is placed on tracking the response or getting those new customers/contacts on a contact list (email, text, Facebook, etc.)
Growing Your Assets
If the most valuable asset in your business are your current clients and customers, each and every marketing effort that you make should reflect that.
What are you doing to turn each and every contact from your advertising campaign into a new or potential customer?
Do you have a follow-up and development strategy for existing customers or those potential customers that are on your list (do you have a list?
What efforts are you making to connect with current clients, particularly your best ones, to deepen that relationship?
Same Goal, Different Delivery
I think sometimes business owners can get overwhelmed with the constantly changing options for promoting their business. Traditional and online methods intersect and merge.
But while the delivery method may have changed from 30 years ago, the goal remains the same, to connect with customers.
If you keep that in mind, it is easier to focus on what is most effective for your business.