CMI Gold & Silver
Gold investing is a hot commodity that everyone is talking about and CMI Gold & Silver is one of the oldest and most well-respected precious metals dealers in the country. At first glance you might think this made our job easier to build their business. But in reality, it created huge challenges as the volume of competitors (and their marketing savvy) steadily increases.
Added to the above challenges was the fact that CMI Gold & Silver had a customer base originally built with traditional advertising. The owner was a visionary who knew he needed to switch to online marketing. He turned to us to learn the best way to accomplish that in a cost effective manner.
Precious metals dealers in the bullion market typically have a lower profit margin than other businesses. Therefore, elaborate campaigns meant to "test the water" were simply not feasible. We needed a homerun right from the get-go. Our strategy was to position CMI Gold & Silver as a resource and thought leader in the industry. And our goals were clear: Build a new customer base online, increase customer loyalty, and maintain a low cost of acquisition.
The first step in achieving all this was to develop web assets to capture the organic online traffic from the constant flow of searches for their products. The second step was to convert this web traffic into a subscriber list for email marketing, blogging and social media.
The results speak for themselves: Revenue growth has seen triple digits (yes, as in hundreds); the subscriber list and customer loyalty factors have grown exponentially; and the cost of acquisition for new customers is as low as it was 10 years ago when they relied on the Yellow Pages and direct mail.
Today, CMI Gold & Silver has successfully migrated into the online marketing space and emerged as a top player. And ever better, they are winning against competitors who still maintain huge advertising budgets for traditional media. We like to say they've left others in their dust - their gold dust.
If we had to sum up the success in a few words it would be "remarkable, succinct, sustainable".