Fruitful marketing promotion or frivolous flop?
We received a promotion from a magazine that allows us to send customized issues to our best clients every quarter. Will this promotion generate the type of return we've been looking for?
We received a promotion from a magazine that allows us to send customized issues to our best clients every quarter. It'll cost us $2.06 per year per client. But if we send it to 1,000 clients, the cost adds up. Will this promotion generate the type of return we'd be looking for?
"Staying in front of existing clients and reinforcing those relationships is important," says Linda Wasche, founder and president of LW Marketworks Inc. in Bloomfield Hills, Mich. "But so is maximizing the return on any type of marketing investment." Wasche says to consider:
- your marketing objectives and how the magazine subscription contributes to achieving them,
- whether the customized magazine will help you educate and connect with clients, and
- whether the magazine subscription will generate additional client visits.
"If your goal is to increase the number of repeat client visits; you might not get the return you're seeking on this investment," she says. "In this case, the $2,000 investment may be better spent connecting with your best clients in a more personal way. For example, you might segment your best clients by type of pet and hold special events or programs tailored to particular health issues." Wasche recommends testing your ideas with a small number of clients before implementing them with a larger segment.