Clients = ROI. Is Your Marketing Strategy Keeping Up?

by Dawn Pici | Nov 19, 2014 | Nail the Sale

Businesses utilize four main types of marketing strategies. Which of the following does your company invest time and money in?

1. Product centered marketing, which focuses on advertising a product/service’s features;

2. Sales centered marketing, which focuses on sales skills and tactics;

3. Marketing centered marketing, which focuses on marketing strategies and social media and;

4. Client centered marketing, which focuses on the target market and the benefits and solutions they desire.

Most companies will answer “All four”. Research suggests that although by necessity companies are somewhat engaged in each, they tend to base their marketing philosophy and the bulk of their resources in one particular area. The first three are all internally focused tactics, dealing only with employee skills and product features. It deals with what the company is doing. The fourth, client centered, or client-centric marketing, has an external focus, dealing with client needs and value. It deals with what the client is doing. Companies with the highest marketing ROI are heavily invested in client-centric marketing.

According to HubSpot, 50{db95e0fd77ae6d141d4535e2bf7b464d98e4151322120f553d7786be9a7303be} of businesses today employ client-centric marketing. This is no surprise. While the practices and skills of the company are important, the most successful businesses do not make these their primary focus. When you focus on your client first, the practices of the company will improve to meet their needs. In addition, because the business has developed a set of best practices for their clients, they will be specific and targeted to their market, reducing time and money spent on unnecessary skills.

Clients equal ROI. They are the life blood of any company. An organization is dependent on its clients. In fact, the whole purpose of the organization is to serve the client. They make it possible for a business to thrive and grow, which further allows and empowers the company to then serve the client better. For example, let’s say Company A provides soccer cleats. The client buys those shoes and the company makes a profit, which they can reinvest in their company and expand to offer shin guards and soccer socks. Company A begins to thrive and clients have a wider selection of quality products. Both parties will benefit, however the process is completely dependent on the client’s demand. If no one wants to play soccer, Company A will have no business at all.

The best and most secure revenue stream for a company is loyal, repeat business. This is because no money needs to be spent on lead generation to acquire these clients. They also provide their own free marketing through word-of-mouth and brand display. These clients will buy regularly and may even function as advocates. These are the clients with whom you have developed rapport. Not focusing on the development of these relationships is why many businesses today fail. To develop rapport, everything done in your business MUST be centered on the client, focusing on the benefits and solutions you can provide them.