Frequently Asked Questions:
- What is Cashstream?
- What is relationship marketing?
- How does your strategy work?
- How do you measure performance?
- How much does it cost to work with you?
1. What is Cashstream?
Cashstream (Cashstream Marketing Ltd) is a relationship marketing firm based in London. We help businesses in the English-speaking world turn their customer and prospect relationships into dependable cash flow, while building brand equity and creating goodwill. We do this by writing and sending regular “infotainment” content.
2. What is relationship marketing?
Relationship marketing is a philosophy and a practice. It emphasises looking beyond the next transaction and building long-term relationships with the people who are, or could become, your customers – allowing you to turn your list into a stream of dependable revenue and cash without burning it out, while gaining valuable marketing intelligence in the process.
Thus, the ultimate goal of relationship marketing is to maximise customer lifetime value.
Unlike some marketing approaches, such as sales promotions (e.g. sales events), that cheapen your brand, relationship marketing does not rely on discounts. It is especially suited for “high-ticket” or complex offerings.
3. How does your strategy work?
Essentially, we send an email newsletter to your list of suspects, prospects, or customers in order to: (a) accelerate the “know, like, trust” process; (b) build awareness, interest, and desire for your offerings; and (c) generate new sales or sales opportunities.
There are four pillars to this strategy:
First, you need to understand the deeper needs of your market. These are usually the “needs behind the need” that your offering serve. (In many markets, these deeper needs are implicit.)
Second, you need to make sure that every marketing email you send to your list is intrinsically valuable. In other words, even if a subscriber is not yet ready to do business with you, they are still glad to receive your emails.
Third, almost every email contains a low-pressure invitation for “hot” prospects to buy something or at least start a serious conversation about doing business together. (When prospects know, like, and trust you, and when they are aware of, interested in, and desirous of your offering, they will accept this invitation.)
Finally, you need to track sales and opportunities to every separate mailing. That way, you can determine which emails are most effective and use this direct feedback from the market to fine-tune the rest of this strategy and improve its effectiveness.
4. How do you measure performance?
There are two key metrics that we monitor and report to our clients:
Revenue – i.e. the total amount of revenue or pipeline value that can be attributed to our emails over a given month. This provides an absolute measure of our performance.
Revenue per subscriber – i.e. we divide the above figure by the number of people who were subscribed to your list at the beginning of the month. This provides a measure of performance that is relative to the size of your list, allowing us to monitor any change in performance. (After all, if revenue increases by 10% but the size of the list grew by 20%, the above metric would hide the fact that our performance has actually worsened!)
5. How much does it cost to work with you?
The fee for our core service is usually commission-based. (The actual percentage differs from industry to industry.) If our work does not generate new revenue, we do not get paid.