Leveraging 101


If it costs seven times more to acquire a new customer and existing customers spend 30 percent more than new customers, why are you not maximizing the potential of your existing?Everyone has heard of the trickle effect: you tell two people and then they tell two people and so on and so on. Today, that exponential expansion is considered viral marketing in the Internet world. But what about leverage in the “people” world? If we have the ability to take a concept and spread it virally through social media sites, blogs, email marketing and the like, how do we continue to physically connect with people in order to accomplish those same goals? I’m always interested in talking to really smart people who simply don’t leverage their expertise. Experts always have resources—that’s how they became experts. But they rarely touch their databases (if they even have a functional, updated one) and don’t dive deeply into the real needs of their audience. If it costs seven times more to acquire a new customer and existing customers spend 30 percent more than new customers, why are you not maximizing the potential of your existing? Think of how you can leverage marketing content from special sessions held between VPs, marketing gurus, and customers. Offer free meeting space to your customers and then share the content of these sessions to the masses with video clips, eBooks, blogs— anything that they can then spread virally as well. There are simply so many options to leveraging your existing customers and your knowledge—how are you going to integrate this into your marketing mix today?

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