If you want to be successful in your business, you should be willing to buy your customers. Do not get me wrong. This does not mean that you literally pay your clients and prospects to get them to spend their money with you.
It just means that you should be willing to pay the means to get new customers coming in your doors. In order for you to increase your profits and grow your business, you need to generate new leads. In addition, the only way you will be able to get new clients spending their hard-earned money with you and buying your products is for you to spend money yourself.
Unless your product is the miracle drug or that your service keeps your phone ringing off the hook, you have to pay for your marketing strategies. Attracting new customers mean money to spend and cost to be paid.
Marketing your business needs money. Whether you put out an ad in the newspaper or have a printer produce your booklets, you need to spend money to get new clients. One marketer explained this concept quantifiably. According to him, if you spent, say, $50 for 50 of your letters and got three new customers for your efforts; then it will cost you approximately $16.66 to purchase each of those three customers.
The key then is to purchase the most clients at the lowest cost. If you can spend less for each of the customers that buy your product, then you can be a very happy man (or woman) indeed.
One way of saving on your costs is to target your marketing efforts. This means acquiring new clients by conveying your message to the group of consumers who are most likely to buy your products and services, as well as has the capacity to pay for them. This group is your hottest leads. They are the ones who will more than likely to be interested in what you have to offer.
Let us look at it this way. Sending your marketing collateral like booklets just about everybody will not only be impractical but you will also be spreading yourself thin without getting the much expected outcome from your efforts. Trying to catch as much as you can in your net with a marketing message that is too general can be a waste of your time, money and energy, as well as that of your target clients.
Target marketing allows you to focus on a particular segment of your market, hence, you are able to provide a customized message that your target group would most likely respond to.
The bottom line is to get as much result from your efforts with less cost to you. The less you pay for your profits, the more lucrative your business will be for you.