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Today’s marketplace is a completely different world. You must seek out new customers and tell them what they need before they know they need it. You must be one step ahead of them all the time and continue to grow your customer base.
Back in the day customers were easily molded into doing whatever you wanted. Fancy commercials with catchy jingles, postcards, small classified ads in the newspaper and you were in business. Back then people sought out products and services and you had to be seen.
Now with more and more websites and social channels becoming more personalized, customers have developed a demand for higher standards. In other words, they get spoiled. So you have to spoil them.
They are drawn to personalized text messages and images. Studies show that most generic content is passed over and people become immune to generic content. You have to get base-level with your targeted audience.
Having the ability to target a precise demographic from multiple angles is proven successful. Analytic reports, dashboards and sophisticated visual analytics are imperative to drive the correct decisions with the proper course of action. You must know who your potential customers are, where they live, what they do, and what they want. However, broad demographics will ultimately push you over your marketing budget. You must narrow down your demographics through utilizing detailed analytics. After you begin to target your potential customers in this fashion, you’ll begin to watch profits rise. Congratulations, now the hard work begins.
Every business must focus on customer retention. Without focusing on retaining existing or previous customers, you’ll continue to swim upstream, hindering your growth and eventually failing through the process of attrition.
An existing customer is much more valuable than a potential customer every day of the year. Retaining existing customers and having the ability to make previous customers active once again makes all your marketing efforts come together. Too many companies spend top dollar in their pursuit of new customers while neglecting the path of least resistance, established customers.
Your marketing efforts to gain new potential customers BEGINS with clean data of your existing customers. You can not put the cart before the horse. There are various techniques to retaining your customers, but it all starts with ensuring your data is of the utmost quality.
Having a clean database with accurate data of your existing customers will be the source to your analytic reports, therefore allowing you to narrow down your demographic and make the correct marketing decisions. In the business world, it’s called the circle of life.
If you do not have a system in place to ensure accuracy of your customer data, more than likely it is beginning to become outdated with various inaccuracies. For any business with over a few thousand entries, it would be essential to use data enrichment tools. There are companies that specialize in data organization and accuracy to ensure your ability to personalize your future contact with your customers. One company out of Suffield CT. called DataLadder does offer a free instant download of their software for your to try out.
Essentially, it takes your existing data and matches it with the most updated information available. You’ll be surprised how much more information you can gain on your customers. This customer’s information can now expand to not only their current address, but email addresses, links to their social media accounts and present cell phone numbers.
Every company, website, service or any genre of business must have a system in place to ensure clean data, retained customers, and the ability to target a specific demographic. Start your marketing efforts by first cleaning under your own roof, then expand into the marketplace with the right information that will lead you to making the right marketing decisions. Once this is established, then comes the real congratulations!