80/20 Customers Part 2
In part one I talked about in every customer list there are the few big spenders and most of the others range from not being very profitable to non-profitable.
You fix this by dumping them and replacing them with big spenders.
You do this by identifying them in other customer lists.
Done right, your message can be personalized on a mass scale.
Personalized messages get you heard and acted on compared to non-personalization
So let's see an example in action.
Let's take the car insurance in part one.
We got the list of those that own 3+ cars and own their own home...big insurance spenders.
Plus they are all within a 10-mile radius of the agency office.
Say you got 2,000 of them and you send out a postcard that reads something like this...
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Important Notice To Del Mar Residents:
If you own your own home and have three or more cars, you may qualify for Gold Preferential Pricing for your auto and home insurance.
To see if you do, please call this hotline,
Xx xxx XXX between the hours of 8.30 am and 4.30 pm
Monday to Friday to see if this limited opportunity is still available.
Please keep calling if the line is busy.
George Orwell
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Note how it seems like we aren't saying they own their own home or 3+ cars...that would be too intrusive.
"May qualify" sets off the curiosity in the reader to see if he does.
It sounds valuable and exclusive by using "Gold Preferential".
It sounds like a phone number is specially set up for this special treatment.
Sounds in demand by saying "Call Back If Busy", a proven response booster.
And signed off by a real person.
There you have it, identified who are the most valuable to a business and made the personalized message valuable.
I hope this has shown you how to go for what's valuable and cut out what isn't.
Best,
Ewen.
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What if they're not stars? What if they are holes poked in the top of a container so we can breath?