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#1 Secret To Generate Sales Quickly By Leveraging Your Biggest Asset
The most often overlooked marketing asset of any company is your existing database. This database consists of former clients, current clients, and prospective customers that you can quickly generate sales from.
This is also known as account-based marketing which is a strategic approach to business marketing that is based on account awareness in which an organization considers and communicates with each prospect or customer accounts regularly with different messages.
Many companies are beginning to see the need to market in strategic and creative ways to generate more profit.
To successfully grow, you not only need to get new customers, but you need to understand the importance of finding ways to retain your existing customers for life. If companies fail to do this, they will lose customers faster than they can find them which will ultimately lead to failure.
Since you want your business to survive and flourish you need to consistently communicate and market to your existing customer base on an ongoing basis.
The first step in doing this is to make sure that your company is accumulating a usable record of your customer base. There are so many customer relationship database systems out there you can leverage to properly set this up.
This is done by reviewing old invoices, work orders, sales tickets, receipts or anything else with your customer information. Then inputting this contact information into a customer relationship management system (a CRM system).
Statistics have indicated that 65% of people stop doing business with a company because they get the feeling that they are not important.
It’s not the price, quality, selection or any other reason that causes customers to stop doing business with a particular business. The major reason people stop doing business with a company is that they stop feeling as if they are important to that company.
In other words, customers expect you to market to them. They feel unwanted if you don’t and they will go someplace else.
Be careful. Current customers don’t want to be treated like everyone else. They don’t want to receive just another “flyer” like you send everyone. They want to be told that they are special. That they are important to you because they are a current customer. Therefore, you must be able to segment your customer database by several different factors.
Who are current customers, past customers and who are prospective customers?
The single most important aspect of your account-based marketing is your current and past customers because they already know, like and trust you. As a company, it is so important that you understand your numbers. You should be able to see how much each customer spends with you in the last 3 months, last 12 months and how often they purchase from you.
Other relevant information you would like to have stored in your database are factors such as:
How many children do they have?
When is their birthday?
Where do they live?
What are their hobbies?
Never stop gathering information about your customers as once they see you as a friend or trusted advisor, they will remain customers for life!
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