There was a great article in this month’s Target Marketing magazine on prospecting, and while it generally is written from a selling your product perspective, the model can be applied to service marketing with a bit of tweaking.
Service marketing tends to add extra steps in the process because you must make the sale. No amount of direct mailings will get people to fork over their credit card information without talking to you first, so the purpose of your direct mailings will be to get people to call for a free consultation or to download a free guide or something to the effect of moving them forward in their purchasing cycle.
Still, the article’s suggestions for calculating your break even point (after how many contacts must you receive a response from the client before you should move on to someone else), calculating the lifetime (or “long term” if you prefer) value (LTV) of a client and identifying ways of increasing your response are all extremely useful.
» Read Article: Prospecting Done Right
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