Times of uncertainty are here to stay, at least for now. How your business uses this time will determine how quickly you’re able to weather this storm. Below are some suggestions from conversations with my clients over the past couple of weeks on how to make the best use of our time before things return to “normal”.
This blog was originally published on Linkedin by our VP of Sales, Matt Wolosz. To reach out to him about this piece or with any Xverify questions, please email him at firstname.lastname@example.org.
1) Invest in Planning: If you are not planning to invest in new marketing strategies at the moment, that’s reasonable. Many of the clients I’m speaking with are instead investing in planning, allowing them to hit the ground running once things turn the corner. It makes perfect sense to schedule time with your partners and vendors to uncover ways you can work together 2, 3, or 4 months from now.
One personal example is a conversation I have been having with a client in the ticketing industry whose business has recently slowed. One challenge they faced for years is identifying fraudulent transactions that cost them thousands of dollars a month. We are discussing a plan to leverage our email activity metrics’ once normal business resumes, not now.
Our activity metrics can tell you the first time an email was in circulation, the last time someone opened an email, provide a score around how many sources / companies are seeing it, and how often the email is being circulated around the web. Our clients in industries prone to fraud have found this data to be very valuable in identifying fraudulent activity.
For example, if someone makes a purchase and we show their email very recently came into circulation, this would indicate potential fraud. On the other hand, if we noticed an email has circulated for 10 years with recent open activity, it is likely a legitimate transaction.
To alleviate risk, we are offering them a free test so they can see results before investing. If your business is having the same challenges around fraud, send me a quick note.
2) Do NOT shut down your marketing efforts: Instead, think how you can stretch your marketing dollars with alternative strategies. Shutting down marketing completely will only distance your brand from customers who you’ve spent a lifetime developing relationships with. Rest assured, if you distance yourself from customers, your competitors will swoop in and pick them up. Many companies are not sitting on the sidelines; rather they’re simply being more strategic with their marketing spend.
One example of this is how many of my clients are now using our email opener data to identify which of their former customers are actively opening emails; in order to target them with a re-engagement campaign. Our clients already spent the time and money acquiring these emails, and they have not mailed to them in a while.
Why not dust off those old emails and mail to only the folks who we identify as active openers? To alleviate risk, we are offering a free test of our opener data, so clients can see results mailing before investing. Email me to find out more.
3) Pick Up Your Marketing “House Cleaning”: How many times have we said this over the years: “I know we have to address X, Y, and Z to be more efficient and competitive, but we do not have the time because we need to focus on what is right in front of us today!”
Now, it’s time to get to those “house cleaning” tasks we’re constantly pushing to tomorrow. Here are some examples of “house cleaning” Xverify is doing:
• Simplifying our user interface to make it easier to:
• read reports
• post files
• manage results
• interpret results
• Actively addressing customer suggestions regarding experience improvements
• Making the necessary changes to improve the customer experience
4) Reset Your Conversation’s Expectations: Right now, the answers you will get to the common question “How are you doing?” aren’t what we’re used to hearing.
Asking “how are you?” became a pretty loaded question almost overnight; for years the common responses were, “good” or “OK”. When folks ask me now, I am a little more honest and tell them: “Good! Family, is healthy. I have adjusted to working from home; simultaneously running a business, daycare center, and senior living center. I work around 4 walls, and the best thing about them is that they never talk back. Plus, they always seem to agree with me!” By readjusting what you anticipate from a conversation, and how you respond, your next calls can be more genuine, engaging, and successful.
Right now, there’s no denying these are challenging times for us all. Trying to inject humility and humor into your conversation can go a long way. Let me know if you have any questions – my inbox is always open.