Occasionally, marketers find themselves in a really positive position. This happens when their campaigns really kick ass and help sell out inventory or generate many more leads than initially projected. When this happens, everyone is happy, and you might be forgiven for pausing future campaigns (saving money) and putting your feet up for a well-deserved break.
However, this isn’t how marketing works. Essentially, as you well know, you are only as good as your last campaign, and just because this one rocked doesn’t mean you can rest on your laurels.
Besides, there is always more that you can squeeze out of a campaign.
Going Beyond SOLD OUT
I have a client who sells corporate training events (mainly soft skills around sales, marketing and leadership). He recently told me that one of his events in London sold out in record time thanks largely to some changes he made to his marketing strategy (making it more focused, more targeted, more engaging).
There was clearly a lot of demand for his services, and the fact that his event had sold out meant that if he stopped marketing it, he would ultimately be failing to tap a lucrative resource.
He explained that it would be like an oil company leaving a well just because its tanker was full. It just wouldn’t happen.
So instead of patting himself on the back and moving on to his next project, he changed the focus of his campaign.
You Snooze, You Lose (FOMO)
His next email explained that his event had sold out and highlighted the fact that his product (his training event) was so hot you had to be on the ball if you wanted to benefit from attending. Essentially, his extended campaign was designed to exploit his subscribers’ fear of missing out (FOMO).
He invited subscribers who missed out to join a waiting list and was surprised to find out that he could actually sell the event out three times over.
A quick call to his training venue secured some additional room bookings, and he tripled his revenue with very little effort.
Make no mistake: Had he not pushed his marketing beyond the point of selling out, he would have left a lot of money on the table.
The great thing about this strategy is that it really presents very little risk.
No Extra Registrations: If nobody had joined his waiting list, he would have lost nothing.
A Handful of Extra Registrations: If only a handful of people had joined his waiting list (not enough to justify scheduling another event), he would have had hot leads for the next time he visited the city.
Too Many Registrations: If too many people had joined his waiting list — well, this really isn’t a problem.
Don’t Let Success Make You Complacent
Success can make you a complacent marketer. There is always more opportunity out there, and remember, just because an opportunity is hot today doesn’t mean it will stay that way forever.
How have you pushed the boundaries of success with a campaign? Share your comments below:
This post first appeared on the iContact Email Marketing Blog.