July 15, 2024

Saving Money Because You Collected Information

Good Morning

You are able to view past pages of my new book under the tab “My BS” at: www.TheFreedmanCompany.com

This week – What to do with all this information

For the past few weeks I have written that you are really the chief marketing person for your company whether you like it or not. That you have to collect as much information about your customers as possible and then collect even more. The more you know about them the better off you will be when you have to start making media selections and spending money.

If you know that your customers are, say, 65 plus in age and that they read a print newspaper, watch the History Channel, spend a little time on Facebook and believe that a phone should be a phone and not a computer that pushes things on them and interrupts them all the time. It would be a big waste to spend your marketing dollars on text marketing. Another example would be female teens and you spending your dollars on newspapers and Yellow Pages rather than on social media which is where they spend most of their time.

The point and the secret that media people don’t tell you is, the more you know about your customers and prospects, the less you will waste your money on media you don’t need and only spend the funds on the correct media. An ad agency’s job is to get you to spend more and more money on more and more media. They assume you do not know what media your customers and prospects use, much less anything about your customers and prospects. Then they try to sell you stuff you do not need.

So are you going to continue to waste your money on stuff you don’t need, or are you going to learn all you can about your customers and prospects?

Next week I’ll start writing about the secrets of each media.

Remember – Great Things Happen, But You Have To Take Action, NOW!

Philip Freedman

Doctor of Customer Retention