Customer Retention - Mining the Gold in Your Existing Customer Database
Key to Business!
How much business are you leaving “on the table”? In this program, we’ll show you how to increase client profitability and loyalty at the same time. We’ll take a step-by-step approach that shows you how to get started, how to quantify results, and how to create and implement an ongoing “Customer Expansion” plan. This is what is Mining Gold in Your Existing Customer.
Understanding Customer Needs
Who they are
If you sell directly to individuals, find out your customers' gender, age, marital status and occupation. If you sell to other businesses, find out what size and kind of business they are. For example, are they a small private company or a big multinational?
What they do
If you sell directly to individuals, it's worth knowing their occupations and interests. If you sell to other businesses, it helps to have an understanding of what their business is trying to achieve.
Why they buy
If you know why customers buy a product or service, it's easier to match their needs to the benefits your business can offer.
When they buy
If you approach a customer just at the time they want to buy, you will massively increase your chances of success.
How they buy
For example, some people prefer to buy from a website, while others prefer a face-to-face meeting.
How much money do they have
You'll be more successful if you can match what you're offering to what you know your customer can afford.
What makes them feel good about buying
If you know what makes them tick, you can serve them in the way they prefer.
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What they expect of you
For example, if your customers expect reliable delivery and you don't disappoint them, you stand to gain repeat business.
What they think about you
If your customers enjoy dealing with you, they're likely to buy more. And you can only tackle problems that customers have if you know what they are.
What they think about your competitors
If you know how your customers view your competition and you use the right selling skills, you stand a much better chance of staying ahead of your rivals.