To sell more insurance; error on repeat business and referrals Vol. 1, Issue 4
As a guerrilla marketer, your primary focus is to optimize business from existing customers. Your current customer is 8 times likely to buy another product or service from you than a new prospect. For this reason; guerrilla marketers focus their energy concurrently as follows:
- 65% focus on current and past customers
- 25% focus on prospects and new business – sell to individuals and market to groups
- 10% focus on the rest – universe.
Success in sales and marketing is a result of deliberate actions. You must identify the 80% of your customers who bring the 20% of your revenue and focus to make them very satisfied. To do that, understand your customer value. How much income do you get from a particular customer in a year? How much cost does this involve? What is the net income from a particular client? Then prioritize the client as much as possible depending on the income you get from them.
Field work for this week:
Get a list of all your current customers [Name, company, title, phone, email, industry, key customer challenges/ pains, services bought from you and potential services they can buy from you]. Write it in word or MS Excel and print it out, if you can.
Find a newspaper article, book, or any freebie you think they would appreciate to receive. You see, they are already your customers. We said, guerrilla marketing requires time, energy and imagination. So, think what special surprise you can give them especially for their kid going back to school.
For private practitioners– engineers, auditors, doctors, lawyers etc… tell the CEO “please give me some of your brochures which I may give to some of my friends since I meet many people as their risk advisor. You never know, I could bring you a client.” When you focus on the other person, they become obligated to want to return the favor. Once they give you the brochure or tell you what they do; ask them: “why do you think customers should buy xx services from you?” This question will make you relevant and cause the prospect to talk. After they talk – ask them if there is any other person they think would be interested in your services? Also tell them about the new services your company is now offering the benefits they get as existing customers. Keep it short.
In the next issue, we explore how to optimize from fusion marketing strategies– one of the best and most efficient guerrilla weapons – based on the model that alliances win battles. If you want to win the war, work with others and don’t compete; complete each other.
Get out and sale!
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To be continued.
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