Marketing to new customers

An Industry Insight feature with Ram Mounting Systems

In tough economic times, it’s important to educate potential new customers about the specific benefits of the services you offer.

“At no time in recent memory has it been more important to focus your marketing dollars on new customers”
-David Wilkinson, Ram Mount

Everyone knows the saying that you should buy low and sell high. Ideally, that is what you do to build wealth. Along that same line of thinking, when times are tough, it should be looked at as an opportunity to progress. Not necessarily to build wealth, but to build your customer base. Now that companies are scrutinizing budgets like never before, purchasing managers are getting creative and seeking products and services they may not have considered before. Not because their current suppliers were not as good, but because it was easier to stick with what is comfortable even if the cost was slightly higher.

As it seems obvious that getting a product of equal quality for a lesser price always makes good sense, human nature will sometimes cause us to play favorites and override basic economics. Now that many companies are struggling to stay afloat and watching every penny, certain brand loyalties that worked out in the past must be reconsidered to save money and stay profitable. It is the job of every marketing professional within their respective companies to take this opportunity to educate potential buyers on their products.

If you have a product that installs into a vehicle, maybe yours is 30 percent lighter than the competition lending itself to better fuel economy? Installation time is always a factor for fleets. Let people know that assembly and installation time can be shortened, saving valuable resources. Advertisements to educate the public cost money, but people are actually reading the ads right now and looking for cost saving solutions. In the past, it may have just been a magazine article or a blurb on a website that got little to no attention. Now the focus is much more important as it essentially will equate to saving money and possibly American’s jobs. At no time in recent memory has it been more important to focus your marketing dollars on new customers. Beyond that, existing customers can always use a reminder as to why they have chosen you themselves.

It is also important to maintain a well-rounded approach to your marketing. To get back to the investing analogies, you don’t put all your cash into a single stock. Nor should you invest all of your marketing resources into a single publication or website. Websites, periodicals, trade shows and product representatives are four good ways to cover all your bases. If you intend to break into new markets, you may need to break away from some of your old habits and look in new places to find value and savings. Keep in mind that customers that went to your competition may have done so because they did not see you at their industries trade show.

Many times your marketing efforts can be the first time that you connect with your potential customers. As it has been said many times, you never get a second chance to make a first impression. While that is not always the case, you certainly want to get things right the first time whenever possible. Now is not the time to put a new hire on the phones if your product is technical in nature. Product knowledge is extremely important and will help to sell your products much more rapidly.

Also, when the customer hangs up the phone, nothing is worse than the customer wondering if they just made a mistake. Consumer confidence is not just a phrase for the nightly news. It will make or break you. While this economy is certainly challenging even the ‘blue chips’, it is incredibly important to search out and seize opportunity. Innovating and offering solutions that meet and exceed expectations while keeping costs low is vital to progressing in the tough economic environment.

David Wilkinson is part of the marketing and design team of RAM Mounting Systems in Seattle, Washington. With a background in Science and technical writing, his job is to assist in product design and advertising. Finding new markets and attracting new customers has become David’s focus for 2009.