Kevin Price, Host of the Price of Business on Business Talk 1110 AM KTEK (on Bloomberg’s home in Houston) recently interviewed Steve Cohen.
About the interviewee
Steve Cohen, Founder and CEO of LMS, Inc., is a native of Philadelphia, PA, relocating to Orlando to call home. Steve holds a degree in business marketing from the University of Central Florida and followed his passion for data and marketing by founding his own firm in 1994. LMS provides support to some of the nation’s leading advertisers through direct mail, broadcast email, list management and database management campaigns. LMS focuses on Return On Marketing Investment (ROMI) and impacting clients adoption of acquisition and Customer Relationship Marketing (CRM). Steve is an active member of the Direct Marketing Association (DMA), former V.P. of Membership for the American Marketing Association (AMA) and has recently become a member of Vistage Florida.
Tell me about your firm (number of employees, location, type of companies you work with, etc.).
LMS was founded in 1995 after identifying the need for a higher level of accuracy in processing information used by the direct marketing industry. Each member of our senior leadership team has no less than ten years of experience working in the direct marketing industry. LMS’ core founding staff of five has worked together for 17 years! With offices in Orlando and Tampa, FL, LMS has an intimate staff of 15 and has supported Fortune 500 companies for several years. LMS services have impacted billions of postal and digital deliveries for major advertisers in sectors such as: retail, gaming, hospitality, not for profit, destination resorts, education and service organizations.
What type and size of companies do you have as clients?
LMS has worked with small, local companies as well as nationally recognized brands. We approach each client with the same service-minded mentality to produce the best results possible. The average LMS client has at least a $1MM annual advertising budget.
What comes to mind when you see this topic?
Meeting new clients is always a challenge. The best relationships often derive from referrals of existing clients. This is why effective CRM is important. Don’t hesitate to ask your clients to share their satisfaction with people by obtaining testimonials, online reviews and even word-of-mouth positivity can be very powerful. As Marketers, we constantly look for new, creative ways to engage prospects.
What are the best practices when it comes to this issue?
Direct mail has always been a top producer and we embrace that, since it’s the industry we’re in. According to the Direct Marketing Association, advertising mail has a $12.61 to $1 ROI. Broadcast email offers instant communication and we encourage that as well. But the overall idea when it comes to meeting new clients is: don’t be afraid to dive in, feet first, and see where it can take you. Participate in industry-related trade shows, push memberships with organizations, attend, sponsor or speak at networking events, use social media to further your reach and try out some online marketing thorough SEO or PPC mediums.