The Marketing Bermuda Triangle.

"If you are not willing to risk the usual, you will have to settle for the ordinary." Jim Rohn, Entrepreneur.

Omne trium perfectum is a trio of Latin words that convey a simple overarching philosophy: “everything that comes in threes is perfect.” I don’t know if this is always true, yet I do know that from a young age, people are wired to expect things in threes. Goldilocks and the three bears. Rock, paper, scissors. Third time's the charm. Genies always grant three wishes. Even the American Constitution promises a trio of good things: life, liberty and the pursuit of happiness.

The saying "good things come in threes" reflects the cultural significance of the number three. This concept, rooted in ancient religions and is prevalent in storytelling, writing, and design, creates a sense of completeness. Examples include fairy tales with three wishes, the rule of thirds in visual arts, and the use of triads in public speaking.

The expression a triple threat relates to a person who is skilled in three different areas, such as a performer who can act, dance, and sing well, or an American football player who can run, throw, and kick well. People who are a triple threat tend to do very well. Combining 3 powerful skills or strategies is also very effective in business.

Who am I to go against the trend of having things in 3s. Over the years I have often coached business owners about creating more sales. In sales and marketing there is the truism Attention, Interest and Action.

The 3Rs in education traditionally refer to:

Reading

wRiting

aRithmetic

The term "3Rs" is believed to have originated in the 19th century as a catchy way to describe the essential skills taught in primary education.The phrase is attributed to Sir William Curtis, a British politician, who reportedly used it in a toast in 1795.

Today I am sharing the idea that there are 3 R’s You should use to increase Your profits.

In today's competitive business landscape, three powerful strategies can significantly boost your company's growth: reactivating old clients, leveraging referrals, and implementing retargeting. Let's explore how these techniques can work together to drive success for your business.

"You will either step forward into growth or you will step back into safety." Abraham Maslow

Reactivating Old Clients

Reactivating dormant customers is a cost-effective way to increase revenue. Here's why it matters:

Acquiring a new customer can cost up to six times more than selling to an existing one.

Increasing customer retention rates by just 5% can boost profits by 25% to 95%.

Key strategies:

Identify dormant clients using your CRM data.

Segment your list based on past purchase history and engagement.

Create personalized reactivation campaigns across multiple channels.

Offer special promotions to entice them back.

Provide value through helpful content and industry insights.

Ask for feedback to understand why they left and how to improve.

Leveraging AI for reactivation:

Use predictive analytics to identify likely re-engagers.

Implement AI-powered personalized messaging and optimal timing.

Deploy chatbots for instant engagement.

Utilize sentiment analysis to gauge receptiveness.

"I don’t focus on what I’m up against. I focus on my goals and I try to ignore the rest." Venus William

s

Referrals: The Hidden Goldmine

When I was a commission only sales person I averaged 65% of my sales with referrals. Referrals are powerful because they come from trusted sources, making leads much more likely to convert.

Strategies to boost referrals:

Exceed customer expectations consistently.

Time your referral requests strategically.

Implement a structured referral program with compelling incentives.

Simplify the referral process for customers.

Leverage technology to automate and streamline referrals.

Personalize your approach for each customer.

Educate your team on the importance of referrals.

Follow up and express gratitude for referrals.

Success story: Drobox's referral program grew their user base from 100,000 to 4 million in just 15 months, with 35% of daily signups coming from referrals.

"Don’t wait for the right opportunity: create it.”

— George Bernard Shaw

How can small businesses replicate Dropbox's referral success ?

While small businesses may not be able to replicate Dropbox's exact success, they can apply several key principles from their referral program to create effective referral strategies of their own:

Offer a double-sided incentive: Dropbox rewarded both the referrer and the new user, creating a win-win situation. Small businesses can implement similar structures, offering benefits to both parties involved in a referral.

Make the reward relevant: Dropbox offered free storage space, which was directly related to their product. Small businesses should choose rewards that are meaningful and relevant to their customers.

Integrate referrals into the onboarding process: Dropbox promoted their referral program during user onboarding when engagement was high. Small businesses can similarly introduce their referral programs at key touchpoints in the customer journey.

Keep it simple: Dropbox's program was straightforward and easy to understand. Small businesses should aim for simplicity in their referral processes.

Create a viral loop: Dropbox's program encouraged new users to become advocates themselves. Small businesses can design their programs to encourage continuous referrals.

Focus on product quality: Dropbox's success was ultimately rooted in having a product people wanted to share. Small businesses should prioritize product quality and customer satisfaction.

Set generous limits: Dropbox allowed users to earn up to 16GB of free space. Small businesses should consider offering substantial rewards to motivate participation.

Leverage technology: While Dropbox was staffed mostly by engineers, small businesses can use referral software or CRM tools to automate and manage their programs effectively.

By implementing these strategies, small businesses can create effective referral programs that drive growth, even if not at the same scale as Dropbox. The key is to offer meaningful incentives, make the process simple, and consistently deliver value to customers.

“Growth, in some curious way, I suspect, depends on being always in motion just a little bit, one way or another.” —Norman Mailer

Retargeting: A Powerful Tool for Small Business Growth

Retargeting, also known as remarketing, is a digital advertising strategy that allows businesses to re-engage website visitors who didn't convert initially. It works by placing a small code (pixel) on your website that drops an anonymous browser cookie when a visitor arrives, enabling targeted ads to be shown to these visitors as they browse other websites.

Benefits of retargeting for small businesses include:

Increased brand awareness

Higher conversion rates

Cost-effectiveness

Personalized marketing

Recapture of lost sales

Implementing Retargeting on Major Platforms:

Facebook Retargeting:

Install the Facebook pixel on your website

Create a Custom Audience based on website visitors

Set up a retargeting campaign in Facebook Ads Manager

Choose ad placements (e.g., Facebook, Instagram, Audience Network)

Create compelling ad content and set your budget

Monitor and optimize your campaign performance

Google Ads Retargeting:

Add the Google Ads tag to your website

Create a remarketing list in Google Ads

Set up a display or search network remarketing campaign

Define your audience, budget, and bidding strategy

Design engaging ads (text, image, or video)

Regularly review and adjust your campaign for optimal results

LinkedIn Retargeting:

Install the LinkedIn Insight Tag on your website

Create Matched Audiences based on website visitors

Set up a campaign in LinkedIn Campaign Manager

Choose your objective and target audience

Create ads tailored to your professional audience

Set your budget and schedule

Monitor performance and refine your strategy

To maximize the effectiveness of retargeting:

Segment your audience based on behavior or interests

Create personalized ad content for each segment

Set frequency caps to avoid ad fatigue

Test different ad formats and messages

Integrate retargeting with other marketing strategies (e.g., email, content marketing)

By implementing retargeting across these platforms, small businesses can create highly targeted campaigns that keep their brand top-of-mind and encourage conversions. While success requires ongoing testing and optimization, the potential rewards for businesses willing to invest the time and effort can be substantial.

Make the brave commitment to grow. Your future self will thank You for it !