There approaches have changes drastically over the past decade to include social media platforms and even direct marketing to existing customers on their televisions or emails. They have come a long way from annoying telemarketing calls. With their theme "Our customer's everyday', means they want to do what will cause less customer frustration but also cause customers to call (Verizon. Com). There are several things that Verizon or any company must consider before deploying a direct marketing strategy. First the market segment must be defined. This is when a company decides who the ads are intended for.
Verizon advertises to young adults and those with families all of the new advances in technology they have made with Fiber optics. Very seldom are the older customers marketed the same information. Another tactic used by Verizon is to market a low introductory rate to have consumers to call and find out more. This allows for sales associates to discuss the benefits of larger more expensive packages. Knowing who the ads or calls are marketed too helps with creating the specials. It's a Joint partnership. Marketing to existing customers is Just as important.
The money spent on acquiring a new customer would be all in waste if that customer does not stay a long time customer. Just as much effort must be put into retaining customers. Another thing to be considered is the form of communications that will be used. Direct marketing ranges from mailers, emails, text messages, or telemarketing calls. Shopping online has increased with Verizon's market along with many other companies. This would be why more online direct marketing is the choice to go instead of phone calls. The telesales was very popular and successful at one time but to as much now. If done correctly it can still be used.
Calling customer's that have an interest in a product, or existing customers with a hope to retain is one use of telemarketing calls. As an existing Verizon customer I know that I am part of their target market to retain customers. I receive specials and coupons in my mail or Emma box regularly. This can cause some annoyance but it is nice to see things that will benefit me such as free movie trials. Direct marketing may be more successful with the older generation by telemarketing if they are not comfortable with technology. M generation is always on the go and wants things fast and direct.
Research has prove that customers that view different platforms of marketing are actually more profitable (Basset, G. , 2014). That being said marketing should continue in all forms of media outlets. With so many forms of direct marketing available and more growing as technology does, it's becoming a very popular tool for companies to use. The use of direct marketing can be measured as well and this will help with its success. For example, if Verizon were to send 1000 flyers out with a promotional code but only 10 people responded then this would show that either the message was not attractive enough or the target market was wrong.
This allows for companies to change their approach. Prior to getting to this point forecasting is done as well. Forecast of products sold during this time, what demographic of customers buy during a certain time frame and what products they are looking to buy. The forecasting process is never exact but it will eliminate wasted money put into direct marketing that does not bring in customers. In conclusion, direct marketing has grown worldwide and especially with Verizon. It went from calling every potential customer soliciting the same information to strategically marketing specific demographics and using different media formats.
Customers have more choices and will do their research to find the best deal. Marketing directly to them with a product they have shown interest for online is a smarter approach than waiting for them to find who they wan to purchase from. The techniques and media platforms used for direct marketing continues to improve as technology advances. I feel that Verizon is making the best moves when it comes to targeting a market group and using different platforms. The area that Verizon needs to improve on is with retaining their existing customers.