This morning I had an email (the reason you need an email list is to use it) from one of the large retail chains – you know the one that sells everything except food . I have been happy with the service they have provided in the past and have spent a good deal of money with them over the years, it remains to be seen if I will purchase any financial product from them.
They have my email address and I am happy to receive emails about special offers and such like from them. Now there is nothing new in the use of email or in large retailers using their buying power in order to expand into other markets like Financial Services.
Nearly all of them use a “white label financial product’ which means all they bring to the party is a list of customers and some branding, logo’s etc. The firm offering the white label is obviously happy to have the critical mass that these retailers bring.
What I found interesting was the fact they manage, at a few clicks of the mouse and a brief legal agreement (covering commissions etc) to get a complete website up and running that add’s value and delivers for those visiting the site. It’s shame the same cannot be said for most Business Websites.
Yes of course they are a larger organisations and they have economies of scale, of course they do not provide any form of advice – all sales are non advised conveniently, which means that business just rolls in on an automated basis.
The internet, the web is going to be the medium of choice for many consumers in the future extending out the present usage even further but finding a way to make your firms presence on the internet must be a goal for you.
So I have a solution, sort your website out, white label a ‘gas electricity, general insurance comparison site’, cross sell everything via the use of email and every other method at your disposal, but do it with a difference. Do it with genuine concern for your customer, a genuine concern for quality and product selection. This is your niche, this is where you will shine amongst seemingly stiff competition.
It is possible to automate much of your marketing and your relationships making this easy to do, question is with most business owners being so busy moving paper and focusing on that which is not important I doubt you will.
For those that do the brave new world coming is very exciting indeed.