While many organizations continue to dedicate enormous budgets to traditional advertising and others advertise only in the various digital channels, we mustn’t forget one of the most effective advertising channels every organization possesses. NGG CEO Rami Jaulus, introduces the advertising channel with the best conversion rate
Stimulate leads: Organizations invest enormous sums of money into traditional advertising, such as the press, television, radio, and advertising websites. Traditional advertising is costly and in the digital era its effectiveness has dropped dramatically. Still, advertising costs remain high and in most cases it’s impossible to measure the effectiveness of these channels in generating leads.
The digital channels, such as the social networks and Google, provide us with a great deal of exposure – usually far greater exposure than the traditional channels – and also allow us the ability to personalize, i.e. tailor our appeal to specific customers. The digital channels are far less expensive and significantly more effective than the traditional routes. Yet, despite the fact that some resources are allocated to digital channels, investment in the traditional advertising remains high.
Stimulate leads: But, there is another advertising channel that is both effective and at our fingertips.
Most organizations are unaware of, or cannot identify, or misestimate the most accessible, immediate, and effective channel within reach – their very own customer base. A well-maintained, well-managed customer base, constantly updated with existing and new customer data, is one of the strongest personalized marketing means of any organization.
Organizations of the new generation, such as Amazon, make extensive use of their customer databases and manage almost entirely to eliminate investment in other marketing channels. The database allows us to construct simple business laws that identify customers’ known behaviors or are based on information the customers provide, allowing direct, focused targeting of hot leads, where conversion rates and chances to close a deal are particularly high.
Customer databases also allow us to construct family and contact trees, which greatly expand an organization’s target circles.
Efforts than combine building a customer database with gradually reducing spending on traditional marketing tools result in:
- Increased effectiveness of marketing and sales processes.
- Increased sales.
- Significant reduction in cost per unit sold.
What is needed?
The ability to move outside the familiar, comfortable box of what we’ve been used to, and recognize the power of new tools already in existence. In short – a bit of courage!