Simon Payn's Effective Customer Newsletters

Why Customer Service Beats Low Prices (And How You Can Develop it to Make Clients More Loyal)

If you wanted any more evidence that now – despite the rough economy – is not the time to go cutting price, look at the results of the latest poll published by Marketing Sherpa (see chart at end of this post).

It shows that while vendors believe price is the most important factor in customer loyalty, the customers themselves (the only ones whose opinions actually matter!) put customer service in top spot, with 40% citing poor customer service as the main reason for leaving a vendor.

So instead of cutting price and hoping your customers are so grateful they stick around, invest the money you save on customer service.

As this is a blog about customer newsletters, let’s see how newsletters can help improve customer service – and hence customer loyalty.

1. First, develop a customer service mindset. Remind yourself that without customers you are dead, that you are there to serve customers – and to treat them as you would like to be treated. (Thanks to Michael Port for emphasizing this upgrade to the Golden Rule.)
2. Remember that the first transaction is just the beginning – you want them to come back multiple times.
3. Use your customer newsletter as a tool to encourage them to come back. Sign them up at the first transaction and then use your newsletter to remind them of your existence (people easily forget!) and to make offers to encourage them to visit you again.
4. Your goal is to create a genuine relationship with your clients, not just a series of transactions. Use your newsletter to extend the relationship-building you do in person to circumstances when you are not present.
5. When choosing your newsletter content, consider what kind of articles will best serve your customers (rather than simply serving yourself.)
6. Build the relationship by contacting your clients (in a non-threatening, permission-based) way on a regular basis, always offering something of value.

If you think that investing in customer service (and customer newsletters) is expensive, remember the oft-quoted words of Frederick F. Reichheld in The Loyalty Effect:

“A 5 percent improvement in customer retention rates will yield a 25 to 100 percent increase in profits.”

Chart from Marketing Sherpa

Printed Newsletters and the Internet: Friends or Foes?

The other day I heard someone say, “Printed newsletters? That’s so 90s.”

Let's face it, when you compare them to email and blogs, printed newsletters do have - shall we say - a vintage feel.

Dead trees and ink are hardly sexy in green-tinged, e-everything 2008.

But this is the thing (actually, several things):

1)      What’s popular or new isn’t always the same as what’s successful. Just because Facebook is the new thing, it doesn’t mean it automatically replaces older keep-in-touch methods. Beware of being distracted by bright, shiny objects.

2)      What works, works. If printed newsletters are working for you, then use them. If they’re not, then try something else.

3)      ROI is what counts. Printed newsletters are more expensive than, for example, email to deliver. But count the results: which gives you the most bang for your buck?

And, most importantly, it’s not a question of either/or.

It’s AND.

It’s not the 90s anymore. And that’s a very good thing, because we have so many more ways to reach clients.

Businesses should be using multiple media – and integrating multiple media. Why? People like to be contacted in different ways and like to interact with your company in different ways. (Some like to call, some go to the Web for more information, some prefer to receive a brochure through the mail.)

If you’re using printed newsletters, keep these points in mind:

1)      Use your newsletter content in multiple ways: on your blog, in e-newsletters, on sites such as  Squidoo. Then you’ll get more bangs for your content buck.

2)      Put your printed newsletter online, perhaps using a service like Issuu.

3)      Use your newsletter to encourage people to visit your website or email you, employing devices such as offers and quizzes. (In my real estate newsletter, for example, I include a quick quiz, with clients encouraged to contact their Realtor for the answer.)

4)      Put a sign-up box on your website for your printed newsletter. Consider using a special report as “bait” to encourage them to raise their hands as good prospects.

Friends or foes? Most definitely friends. They work better together than alone.

Shock: Some Good News about US Real Estate

If you watch enough CNN, you’ll be convinced that the American housing market – and the entire economy - is doomed.

No hope. Just give up and wait.

I’m not saying that things aren’t bad – that a lot of people are suffering, losing their homes and their jobs. The economy has changed and got a lot tougher.

But we shouldn’t be convinced that it’s a disaster everywhere for everyone.

Because it’s not.

Just yesterday I heard from one of my real estate newsletter clients in California who sold four properties in the past month and has been “swamped” with work.

You don’t hear that reported on CNN.

The thing is, it takes smarts, information and hard work to prosper right now. After all, once upon a time listings fell into Realtors’ laps and transactions were closed the next day.

It’s not like that anymore.

This Realtor uses a newsletter and, I’m sure, many other marketing tools to build relationships with her farm and past clients. She’s working hard at marketing herself – and that’s why she’s succeeding.

I’ve got lots of other members who are doing the exact same thing – and continuing to thrive in today’s market by building strong relationships with their clients and farm.

So there’s a new reality. Only the toughest, most knowledgeable will survive; those who learn and implement what they have learned.

Which type of business person, which type of Realtor, will you be?

Test drive my real estate newsletter for free at http://www.readytogonewsletters.com

Could a Customer Newsletter Actually Make You Money?

People tend to think of newsletters as a marketing expense.

(Of course, marketing shouldn't be thought of as an expense at all. It's an investment - at least it is if you do the kind of marketing that allows you to track the results.)

But it is possible to create a customer newsletter that actually makes you money - and not just from the business you get back from it.

A new client of my real estate newsletters business asked today if he could include advertising space in his newsletter.

Of course, the answer was yes.

After all, it makes sense to allow trusted providers of relevant products and services to advertise in your newsletter. It brings income for you, helps reduce your newsletter costs, and assists your readers by informing them of a useful product or service.

If you don't want to do a cash deal, you could always barter an ad in your newsletter for an ad in their newsletter. That would be a great win-win.

Seth's Advice to Realtors

As a lot of readers of this blog are real estate agents, I thought I'd pass along the advice of marketing guru Seth Godin. (I reviewed his excellent book The Dip here, and recommend all his work.)

He gives two bits of advice. The first is kinda harsh. But the second is spot on. He says:

The opportunity during the current pause (and yes, it's a pause) is to find, one by one, the people who would benefit from hearing from you and then earn the right to talk to them. Earn the right to send them a newsletter or a regular update or a subscription to your blog. NOT to talk about what matters to you, but to give them information (real information, not just data) that matters to them.

This is exactly how newsletters should be used.

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Get a free, one month "test drive" of my real estate newsletter.

4 Ways to Tell if Your Real Estate Newsletter is Boring

I'm going to ask a blunt question: is your real estate newsletter boring?

Because if your newsletter is boring, you'll be losing thousands of dollars in business because...to put it bluntly... no one will be reading! And if no one is reading, you're not going to be able to build that essential relationship with your farm.

So here are 4 ways to tell if your newsletter is boring:

1. Is it all about real estate? Let's face it, nobody is as interested in real estate as you are (except maybe Donald Trump). For the most part, your readers have got better things on their minds. The only exception is if they are about to buy or sell a house - then real estate becomes fascinating. But as you want to keep in touch with clients when they are in between moving, it's best to limit the amount of real estate information you have in your newsletter. TOO MUCH REAL ESTATE = B.O.R.I.N.G.

2. Is your newsletter written like a school essay? Does it use long words and even longer sentences? Have you forgotten what the article is about half-way down the first paragraph? The fact is, people have a low tolerance for stuff that's hard to read. So make it easy. Make it flow. Make it lively. LONG, DENSE ESSAYS = B.O.R.I.N.G.

3. Is your newsletter irrelevant? If it contains articles about the national real estate market, is that information relevant to your local readers? Will it help them at all? If you want to put market information in your newsletter, make it local. Make it relevant. IRRELEVANCE = B.O.R.I.N.G.

4. Is your newsletter just about you? The fact is,  nobody really cares about you! All they care about is themselves. If you write articles that are all "me, me, me" and "I, I, I" your readers will stop reading.   Give them information that helps them. ME, ME, ME = B.O.R.I.N.G.

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Get a free, one month "test drive" of my real estate newsletter.

2 Easy Ways to Write Newsletter Articles (Even if You Hate Writing)

Many people are put off sending out a customer newsletter because of the amount of writing they think is involved.

After all, a blank page can be pretty daunting.

So here are 2 ways to make article writing easier. These aren't new ideas - I've heard them mentioned several times before by several people - but I think they are worth sharing.

1. Ask and Answer Questions

You're able to answer a client's questions, right? That's not a problem.

Somehow, writing seems less daunting when you are given a start in the form of a question.

Imagine you want to write an article for a real estate newsletter on, for example, How to Improve Your Home's Curb Appeal.

Start by thinking of the questions a client might ask on this topic, such as:

• Why is it important to have good curb appeal?
• Should I paint my home to make it look fresh and new?
• What colors are most attractive?
• What can I do to make my entrance more attractive?

Then just set about answering those questions, so...

It is important to have good curb appeal because the exterior of your house is the first thing people see and people often form a judgment on a property in the first few minutes...

If you can, paint your home to make it look fresh and new. It's amazing how easy and cheap it is to paint your home's exterior...

The most attractive colors are neutral, light shades that appeal to the greatest number of people and which make your home look bright and fresh...

You can make your entrance more attractive my placing container plants on either side of the doorway and by fitting a lamp....

See? It seems a lot easier when you do it this way. Just join the answers together and, before you know it, you have an article.

2. Record your Conversations

You probably give out useful information to clients every day on the phone or when you meet them face to face. After all, you know your stuff, so it's easy to talk about what you are familiar with

So if setting fingers to keyboard is daunting, consider recording a conversation about the topic you want to write about.  Ask a friend or colleague to pose as a client who wants to know about a particular topic.

You can then transcribe what you say and, with a few edits, you have an article.

Try using either or both these ideas next time you are faced with a blank page.

Get a free, one month "test drive" of my real estate newsletter.

Real Estate Newsletters: 5 Essential Tips to Make Clients Adore You

Sending a real estate newsletter to your farm isn't about getting a client or a listing right there and then. Unless you hit their mailbox at precisely the right time - just when they are looking for an agent or wanting to list their house - you're in the business of building a relationship rather than making a sale.

The best way to build that relationship is to provide a newsletter that meets the needs and interests of your farm.

Do it right, and you'll grow a farm of adoring fans.

1. Make the newsletter about them, not you. You're probably sick of me going on about this...but it's the #1 rule. People are not interested in you, they are interested in themselves. If your services are mentioned at all, do it on the basis of how you can help them, how you can meet their needs.

2. Write articles that are useful, interesting and entertaining. Create articles that make the reader think: I never knew what! Or: What good advice!

3. Keep up a regular schedule. Relationships aren't built sporadically; they take regular contact over time. That's how trust is created. So send your newsletter  at least monthly.

4. Be truthful. Good friends don't lie. So nor should you in your newsletter. A lie can wreck a relationship.

5. Be upbeat. Nobody likes a downer. Who wants to form a relationship with someone who's always bringing bad news? Think of good, upbeat, positive things to put in your newsletter. Then you'll be a welcome friend.

Follow these rules and, over time, you'll build a strong farm of people who will adore you and your newsletter.

Get a free, one month "test drive" of my real estate newsletter.

5 Elements Every Real Estate Newsletter Must Have

Here's what I hope is a useful list for any Realtor putting together their own newsletter.

1) Clear Contact Information

Make it easy for your clients to contact you. Put your name and contact information on the front and back, and consider adding your website URL or phone number at the bottom of every other page.

2) An Offer

Sometimes your newsletter will be seen by people who are not on your mailing list. That's a good thing, particularly if you are distributing your newsletter to strategic locations visited by potential clients.

It's important, however, to include a way of enticing people to join your mailing list so they receive the newsletter on a regular basis and so that a relationship between you and they can begin.

The best way to do this is by offering a free report (or brochure) of information that is likely to be of interest to (qualified) potential clients. For example: "10 Ways to Present Your Home for Sale" or "How to Get the Best Price for Your Home in 2008".

Encourage readers to contact your office to obtain this report (which you can send by email or regular mail) and join your mailing list.

3) Interesting, Entertaining Information

You want your readers to look forward to receiving your newsletter. The best way to do this is by creating content that is relevant to their needs.

Many businesses concentrate on providing information about the business. But if you do that, you'll end up boring people.

Instead, provide them with articles that are likely to interest them. Think what you would like to read if you were in your farm.

4) Local, Personal Content

There are many newsletter services available. Some of them provide great content. However, if you have time, it's a good idea to add some content of your own. For example, give your opinion on the local housing market (after all, it's possible that it's quite different from the news that hits the national headlines).

Don't make the entire newsletter about the housing market - just make it one element of the content. By providing this mix, you'll interest a wide range of people and still prove you know what you're talking about when it comes to real estate in your city.

5) Engagement Devices

Encourage your readers to actively participate in your newsletter, rather than just being passive consumers of information.

• Include puzzles and quizzes (put the answers on your website to encourage them to visit your site).
• Make an offer to do a free appraisal of their homes.
• Offer a downloadable or printed report with information about the housing market or about selling and buying homes in general. Encourage them to call, email or visit your website to obtain the report.
• Include testimonials and success stories.
• Include articles written by your readers.

I'll write more about other elements a real estate agent can include in their newsletter. I'll also write about the importance of keeping to a regular (at least monthly) publication schedule.

Get a free, one month "test drive" of my real estate newsletter.

Real Estate Agents: What Would You Do to Justify a 7% Commission?

A lot of my newsletter subscribers are real estate agents, so this post, The 7% Solution, from Seth Godin is particularly interesting.

But it's relevant for any business.

Quote:

The challenge is... what if you had to charge 7%. What if you had to charge more when everyone else was charging less?

What would you do? How could you make it worth it?

Now, just imagine what would happen if you did that at 6% or even 5%? You'd be unstoppable.

That extra mile - that edge - is what makes a difference between one agent and another. Something that's particularly important in these tough times for the housing market.

Worth thinking about. What would you do?