Are you missing out on easy money?
Posted on 6th December 2016 at 13:00
Don't miss the low hanging fruit
It costs more to attract new customers than to sell to existing ones. The figures vary anything between 5 and 7 times as much is usually quoted.
Are you missing out on by not selling to your existing customers?
• Contract Renewals
• New Products/Services
By tracking your sales against each contact or company you can easily segment your data to enable you to target your marketing with the most applicable message to each specific group of contacts.
If you track renewal dates it is easy to send out reminders in plenty of time.
What about version numbers – could you be informing customers of newer products, recommending upgrades, or promoting complementary products and services to those you have previously supplied?
Customer care is the second key point – if you don’t look after your customers someone else will. Over 70% of customers change suppliers because they don’t feel cared for.
Your CRM database should be configured to allow you to record the information that is important to your business, to help you keep your existing customers as well as gaining new ones, and provide you with the means to easily see and segment based on key information, take action on it and measure the results.
This profiling exercise is often perceived as complex and difficult to maintain, however with a little though it can be a very simple and manageable process.
There will be more ideas on how to segment your data in out next blog so look out for it.
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