Building On a Foundation: Why Marketing to Existing Customers is Crucial
As marketers, we aim to expand our market and attract new clients and buyers, but this approach should only be a means to an end. The essential purpose of a business is to sell more of its products and services, not necessarily selling to new customers and clients. Grant it, many new sales are a result of new customers discovering our business. However—and this is especially true once a business is relatively established—an important portion of sales are made to existing customers: people that already like and trust your brand. For this reason, it’s important to spend a significant portion of a marketing budget on the customers you already have, as opposed to those you still hope to gain. This is what Brad Swezey argues in his article in Florida Today, “Don’t Ignore Existing Clients When Marketing.”
“The worst thing you can do as a business, in my opinion, is to ignore the people who already know and like what you are doing. The reality is, however, most businesses do exactly that. And it is costing them thousands of dollars,” states Swezey.
Swezey proposes rewarding existing customers, enabling them to use your business again. The consequence of doing this, Swezey argues, is that existing clients will do your marketing for you through—the original marketing tool—word of mouth. Given a gentle nudge, Swezey states, existing clients will mention you on social media and to their communities. This is especially true when their friends and family are looking for a service. Swezey reminds us that third-party credibility is going to have a more powerful impact than any advertising you can dream of.
“So, you are going to accomplish what you wanted, which is more customers or clients, without the hassle of dealing with too many new clients or customers who are not yet familiar with how you do business. You are going to get a greater return on your investment too,” says Swezey.
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Brad Swezey is the president of JustSmallBiz Marketing; a company that focuses on helping small businesses grow through methodical marketing planning and results-based marketing implementation. He can be reached at [email protected]
How AWS helps NASCAR delight its fans
AWS needs no introduction to readers of Technology Magazine but we rarely get an opportunity to look closely at how it serves the sports sector. All major sports draw in a huge supporter base that they want to nurture and support. Technology is the key to every major sports organization and enabling this is the driving force for AWS, says Matt Hurst, Head of Global Sports Marketing and Communications for AWS. “In sports, as in every industry, machine learning and artificial intelligence and high performance computing are helping to usher in the next wave of technical sports innovation.”
AWS approaches sports in three principal areas. “The first is unlocking data’s potential: leagues and teams hold vast amounts of data and AWS is enabling them to analyze that data at scale and make better, more informed decisions. The second is engaging and delighting fans: with AWS fans are getting deeper insights through visually compelling on-screen graphics and interactive Second Screen experiences. And the third is rapidly improving sports performance: leagues and teams are using AWS to innovate like never before.”
Among the many global brands that partner with AWS are Germany's Bundesliga, the NFL, F1, the NHL, the PGA Tour and of course NASCAR. NASCAR has worked with AWS on its digital transformation (migrating it's 18 petabyte video archive containing 70 years of historical footage to AWS), to optimize its cloud data center operations and to enable its global brand expansion. AWS Media Services powers the NASCAR Drive mobile app, delivering broadcast-quality content for more than 80 million fans worldwide. The platform, including AWS Elemental MediaLive and AWS Elemental MediaStore, helps NASCAR provide fans instant access to the driver’s view of the race track during races, augmented by audio and a continually updated leaderboard. “And NASCAR will use our flagship machine learning service Amazon SageMaker to train deep learning models to enhance metadata and video analytics.”
Using AWS artificial intelligence and machine learning, NASCAR aims to deliver even more fan experiences that they'd never have anticipated. “Just imagine a race between Dale Earnhardt Sr and Dale Jr at Talladega! There's a bright future, and we're looking forward to working with NASCAR, helping them tap into AWS technology to continue to digitally transform, innovate and create even more fan experiences.”
Just as AWS is helping NASCAR bridge that historical gap between the legacy architecture and new technology, more customers are using AWS for machine learning than any other provider. As an example, who would have thought five years ago that NFL would be using ML to predict and prevent injury to its players? Since 2017, the league has utilized AWS as its official cloud and ML provider for the NFL Next Gen Stats (NGS) platform, which provides real-time location data, speed, and acceleration for every player during every play on every inch of the field. “One of the most potentially revolutionary components of the NFL-AWS partnership,” says Matt Hurst, “is the development of the 'Digital Athlete,' a computer simulation model that can be used to replicate infinite scenarios within the game environment—including variations by position and environmental factors, emphasizing the league's commitment to player safety.”