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Master Your Customer Data
Whether you run a corner deli, a loan origination business or a real estate office, the majority of your new business and referrals most likely comes from your current customers. In order to capture the full potential of repeat business and referrals, you must master your customer data. Here’s how:
Actively manage customer data. Record and keep readily available every piece of data. Get in the habit of updating files immediately when a street address, email address, phone number or other important information field changes. Input contact information for potential new customers as soon as possible. Use a simple spreadsheet or database, but remember the ultimate tool to accomplish data discipline is understanding the value of accurate customer data and following through with regular database maintenance. Don't forget, data is your communications bridge to the most valuable element of your business — the people who already know and trust you.
Communicate at least once a month to every current customer. Use a marketing mix that is 80% value-driven (such as a newsletter with tips and ideas) and 20% offer-driven (such as discounts, promotions and new products). Use multiple delivery methods, such as email, regular mail and phone calls, to ensure your message gets through. Ask for the business on every marketing piece by reminding customers that you are always ready to serve their needs, and those of friends, family members and colleagues.
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