Invest in marketing and you’ll earn customers’ “interest”
Have you ever heard of the rule of compounding interest?
You probably have, but here’s a quick refresher: because you earn interest over time, the pile of your money that’s gaining interest increases. For example, if you invest $1,000 and get a 5% return, at first you earn $50, but then you get $52.50, $55.12, $57.88, and so on.
The money you invest grows exponentially. It’s how you can turn $1,000 into $18,000 over the course of your lifetime if you simply invest it.
And guess what? The same principle works in your marketing.
Your customers’ “interest” in your business compounds in the exact same way – only to earn their interest, you actually have to market to them.
If you do this consistently and keep earning interest, you’ll see exponential sales growth.
Why does it work?
This works because human brains love shortcuts. We think things are more important if we see them frequently. For example, try answering this question:
Q: What’s more likely to kill you, an airplane crash or diabetes?
Don’t worry, most people get this wrong: it’s diabetes. It’s the 7th leading cause of death, compared to airplanes, where your chances of dying are, in The Economist’s words, “so low that it’s almost not worth calculating.”
Why might you have thought airplanes though? You simply have more examples of airplane crashes in your mind because we hear about them nightly on the news.
Similarly, if your prospects see you a lot, they’ll start to think that you’re important.
In fact, after about 7 mailings or “touches,” they’ll not only know your name but they’ll start wondering why they keep seeing you. They’ll feel left out and become curious.
That’s when you start to get phone calls and the graph for your sales turns into a classic hockey-stick chart.
Most businesses get bored when they don’t see any initial success and they give up after 2-3 postcards. Those who keep marketing however generate a tidal wave of demand.
There’s a lot more that goes into it of course – you need to have the right message, a solid call to action, and you need to target those messages, but the underlying principle that’s common to all successful small business marketers is that they stick with it.
So. Now that you know this, will you become an investor?
Click here and get that next postcard marketing campaign out the door right now and in 2-3 years time, you’ll really thank yourself that you started.
After all, the best time to plant a seed was yesterday. The next best time? Right now.