The True Cost Of Attracting New Business Customers
Few great things in life come without a price tag. This truism filters down into our business networks, which pride original and effective engagement above all else. When you’re focused on reaching out to people, by any means, remember that your time and cash are slowly being drained from other concerns.
Our last post gazed through the figurative microscope of why outbound marketing tends to stumble. Yet even if you’re relatively at ease with your strategy, there’s a cost (sometimes hidden) of attracting B2B customers.
Events and Exhibition Marketing
For a long time, events and exhibitions have been a staple of organisations looking to stand side-by-side with their competitors. The value of a business, for some, can only be assessed when it’s in the thick of a delegate hall, fielding questions and bringing passers-by on board with a service or product launch.
How expensive is this, though, for your coffers and productivity? There’ll probably be a requirement to turn up at the venue the night before, so you can set up – that’s a whole other evening squandered for practical considerations. Events can take a full, long weekend out of your marketing team’s stamina. And that’s without factoring the price of banners, shelters, generous space and printed media…
The True Cost Of Attending Networking Events
However, the flipside is almost the same if you’re sending people to an event as attendees. Tickets usually have a fixed cost that can put smaller businesses off, and the general demands of the day will force you to overthink every piece of one-on-one contact you have.
Just like event teams, there’s an unspoken pressure that can drive professionals to attend these seminars just because their peers are heading along. Doing something that’s so expensive and time-consuming can only be justified if there’s an actual gap in your skillset, or a key piece of information on offer that you can’t get anywhere else.
Mass Marketing Using Telemarketing
Picking up a phone and dialling at random isn’t going to fool anyone. Whether you’re trying to encourage some direct sales, or reaching out to prospects with your expertise, there are some unfortunate situations that’ll crop up, especially with a catch-all call script that’s anything but personal.
What if, for instance, you’re informed continuously that someone will be back soon, but they never materialise after four or five attempts? Are you counting the money running through your fingers as you wait interminably for a contact to answer from another continent? Both precious minutes and pennies are at risk of vanishing with no real gain to show for it.
Is Corporate Hospitality Still Worthwhile?
Upon bagging a high-profile prospect, you may feel the urge to treat them to a meal, or shepherd them towards a few drinks at a city bar. Remember that ‘viable expenditure’, as it’s known, might warrant a tax break, but it’s still cash from your pocket. The same goes for long, draining travel missions to meet people from all over the country.
Really, it’s stunningly hard to find a balance between deep, personalised contact and a scenario that doesn’t take huge chunks out of your week. We’ll be expanding on this idea further with our next blog, so stay in the loop with Sparks4Growth, the marketing consultants you can trust for sound advice.
Call us on 0203 758 3999 or fill out the contact form below for specific details about what we do, and why we’re worth investing in.