How do you prepare the marketing budget for your business? Most organisations calculate – or estimate – the percentage of funds they want to dedicate to marketing, then ‘build out’ their marketing plan within this figure. On the face of it, this approach makes business sense. After all: you don’t want to spend more than you can afford. But in doing so, how can you be confident you’re achieving maximum bang for your buck? You can’t. Successful marketing budgeting is about knowing what you want to achieve, and building a budget that satisfies both your expectations and your accountant. Here’s what you need to know when developing yours.
Topics: Business Guides
Getting a new customer might feel more glamorous than retaining one, but your chance of making a new sale with an existing customer is 60-70%. That same statistic for a new prospect is just 5-20%. And yet, the never-ceasing search for the secret that will see your marketing connect to an ever increasing group of new customers is the ultimate goal for some.
This article was originally published at http://blog.vistage.co.uk/3-metrics-to-prove-why-you-should-market-more-to-existing-customers.
Optimise your mobile teams
Properly equipped and trained mobile workforces can be fully integrated with business processes, utilised effectively all the time, and working efficiently wherever they are. Your business systems should enable them to handle issues and queries on the spot rather than relying on follow-up processes run back at the office. As a result, your customers get better and faster service which means your offer is no longer just about price.