Neglected markets are advertising opportunities that belong to you but you are ignoring or not giving enough attention to. Missing these opportunities can be very expensive. Discovering them can put money in your pocket.
Probably the most overlooked and neglected market is the customer base. You’ve spent good money to bring in customers. What are you doing to keep them? Remember that once they do business with you and they go on their merry way, they become fair game.
It’s a lot cheaper to keep the customers that you have than it is to find new ones. On average, a typical business will spend $35 to $75 on advertising to get a new customer. It would cost less than 50¢ to send that customer a postcard, keeping your business name and any offers in front of them. You could send that customer postcards every month for less than $6.00 a year! It seems like a ‘no-brainer’ doesn’t it? Surprisingly only a small fraction of businesses take advantage of mailing to their base. But many successful businesses will tell you that their customer mailings are the most productive advertising that they do.
Tags: direct mail tips, mailing list, markets
