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Marketing Strategy

How to benefit from your existing customer…

Collaborative Marketing

The customer is the most valuable part of a company. In fact, he also shapes the company to a significant extent. But most of the companies had their concentration on the acquisition of new costumers to reach the top of their marketing funnel instead of on the customers that are already existing – they have not seen the big potential to use them to find new clients.

But how can you benefit from your existing customer?

The answer seems easy! You must listen to them. Do not look at your customer and just see them as a consumer of your product – better see them as a partner who is really interested in improving your business and your product.

If you have a problem with your marketing, it’s the easiest way to search for the problem directly were it is – at the customer! Seek for the direct dialogue with them. Collaborative Marketing is a kind of cooperation between company and the customer, the engaged customer. For every brand you need to filter the most engaged fans, speak to them and then win them as your marketing tool. They are a kind of volunteer marketers for your company. Not because they must, you don’t force them. They do it because of the enthusiasm in your brand, they want to help and to create something, they want to be a part of it.

But one of the most important keys to success with Collaborative Marketing is to focus on quality not on quantity. It is much better to have one or two useful opinions that will help you bring your company forward - that maybe will also improve or upgrade your marketing strategy – than to have the opinion of many that show you a problem but not the way to solve it.

One-way Co-Marketing can also be used is shown by Nike. They have created the Nike+Training Club. All athletes can compare their training results and progresses with other community members. By the way they get to know some products that can help them to work out better – and of course these products are made by Nike.

But don’t forget, the best Co-Marketing takes place offline. Nothing is better than an honest, personal recommendation. The trustworthiness increases a lot if a friend or a more known person tells you to buy something because he is persuaded of the brand or the product. That is evidenced by the “Return on WOM”-Study. According to this the Word-of-Mouth (WMO) influences a person from 5 to 200 times more strongly than classic advertising.