Posted by Fred Lizza, CEO, Dydacomp

#1: Effectively Connect To Your Best Customers

It costs five times more for companies to earn a new customer than to sell to an existing one. If you’re not accurately identifying and effectively marketing to maximize sales from your existing customers, you’re missing one of the biggest opportunities to grow your business. This means that your customer list is one of your most valuable assets, but can you unleash its value?

In order to determine if this is an issue for your business, ask yourself these questions:

• Do you have visibility into customer preferences and behavior across all of your channels?
• Can you segment your list for targeted offers that increase response rates?
• Can you incorporate ‘offline’ buying history in your retargeting campaigns?
• Are you able to track and evaluate your ad spend to measure response and determine the cost of acquiring a customer, including PPC and online campaigns?

If you are not able to answer “YES” to all of these questions, then you are underutilizing your assets. Instead, you are most likely spending more time and money than you need to in order to increase revenue by focusing all of your efforts on new leads.

You need to have an order management infrastructure in place to handle all the necessary customer information to answer these questions, and more. It should not only process orders, but enable you to

To be continued…

Posted by Fred Lizza, CEO, Dydacomp

Whether it’s 10:00 a.m. at your storefront or it’s 10:00 p.m. and your customer is on your eCommerce site, do you really know who your customers are? It used to be easy to know your customers and easy to reach them. They read your print ads in the Sunday paper and opened your mail for information about deals you offered or browsed your catalog. It’s different today. They can opt out of receiving information in the mail at home, by phone and by email.

Depending upon their age group and/or communication preferences, you may need to find them through Twitter and Facebook, and/or send them text messages on their smart phones and tablets. We’re all swimming in a sea of communications, and it’s becoming increasingly more difficult to reach the exact audience you want to address. So, before you launch that next promotional campaign, you need to ask yourself – do you really know who your customers are?

At Dydacomp, we’ve worked with thousands of small and mid-sized retailers and fulfillment operations to help them simplify commerce and grow their business. Our customers collectively generate more than $200 million in sales each month, and we’ve learned from them what has been most effective in helping them grow. It’s that experience which has enabled us to assemble the Top 7 Reasons You Need Effective Retail Promotions.

Continue to follow our blog for this multi-part series…