Believe it or not, your business has a very powerful resource – a virtual goldmine.
It may be hidden and out of sight. It might not even feature on your radar. Yet it’s so resource-rich it will add untold value to your business now, and in the future.
I’m talking about your database. The storehouse within which you capture all the vital information you (and your employees) gather about your customers.
Where do you currently store your customer information?:
- Scattered over various lists in your computer?
- On index cards or paper files in a metal cabinet?
- In your head?
If this is the case, not only do you run the risk of losing valuable customer knowledge, it also makes it hard to act with any speed or efficiency.
You need to pull the information out of your head, your employees’ heads, your files, index cards and wherever else you might have stored it, and merge it into one central place in your computer.
This may seem like an awesome job to undertake. It doesn’t have to be. There are any number of tools available to help with this process. You need to do whatever it takes to develop your database – and you need to get started now. The longer you wait, the tougher the task will be.
It may not even be necessary to invest in additional software. Your computer may already have a database that is sufficient for your needs (such as Outlook).
Getting the information into a central database is absolutely critical – but this is only part of your goldmine. If you don’t manage and work your database, it could become the biggest untapped resource in the history of your business.
The value today
Let’s face it, when you’re looking for new business it makes sense to firstly approach those who’ve bought from you before. They know you, know your products and are infinitely more likely to buy from you again than from a stranger.
A well-tuned database can save you time, energy and money. Targeted marketing campaigns can be created at the push of a button, so too can customer service and communication emails. In fact just about every kind of marketing or other communication can be efficiently and effectively handled from your database – to a targeted and categorised audience. After all, you don’t want to be trying to sell a Lamborghini to a 9 year old, do you?.
And the value tomorrow?
If you were looking to buy a business, which would you prefer – a business where the only record of customers was the billing system? Or one where you had instant access to a marketing database with details on existing customers and prospects?
Make sure you’re not oblivious to your own goldmine.
If you don’t have a database, get one
If you do have a database, make sure it’s up to scratch, and start mining it.
If you’d like more advice on getting your database sorted, you can contact us here: www.fullfocus.co.nz/contact-us/