Tuesday, January 22, 2013
HOW'S YOUR CUSTOMER DATABASE?
It is proven that the best qualified leads don’t come from cold calling but from having a strong referral system and up-to-date customer database. Increasing (or sometimes even maintaining) certain sales targets can be very time consuming, and if not managed properly, can be painfully expensive.
The standard equation of; “You have to have 100 conversations, to generate the interest of ten and the sale of one” can easily increase from ten to sixty and one to six if the leads are from a database of solid clients with a first-rate referral system in place.
A great customer base is built. Some may weigh in that it can be bought but buying any list takes capital dollars to purchase as well as time and money to “work it”. Remember you have to scrub any new list to determine the status of every single contact.
What’s my advice? Build it yourself! Have a plan, set targets, then track & measure results. When offering incentives, never make your clients feel like they are a part of a mass marketing cog and always provide great service and a memorable experience. Never forget that follow-up with all customers in a timely fashion is critical. Happy (not hesitant) customers will gladly refer their friends.
These tips may seem simple but with the right strategy and marketing plan your business revenues will grow. Never lose sight that growing any business is really hard work.