Leverage Your Database Of Customers And Prospects

The database is one of my favourite leverage points in a business. For a couple of reasons. First off, it is something that keeps growing with each new contact and sale. Second, you can leverage this asset over and over again. It is not just a one-time deal. Third, there are a number of different things you can do here.

Ok, let’s start at the beginning. You do have a database, don’t you? Believe it or not, this is one of the biggest hidden marketing assets that we find with clients! They either don’t collect contact information of buyers or prospects and if they do, they don’t do anything with it. People, people, people, if you have a list of clients who have bought from you before – trusted you with their hard-earned money and you made that a happy experience. Don’t you think they would buy from you again? It only makes sense. You see, basically there are only 3 ways to increase your business. You can get more clients, sell more often and increase the size of the transaction. That is it. And it is cheaper to sell more often to someone (repeat sales) than it is to get more clients.

So, what can you do with your database?

Well, first off, let’s do a reactivation of lost customers. Remind them that you are here, ask them to do business with you again. Make them a special offer that gets them excited. Send them an email or a letter directed straight to them that let’s them know you are thinking of them and would appreciate their business (people like to be appreciated).

You could set up a follow up program. Sure, start with the customer reactivation but then continue to follow through and send them relevant information and/or offers. This can also be done with brand new contact and customers which is why I like to distinguish it from the customer reactivation concept. Someone comes in your door and purchases, plug them in to your follow up program. Have you got a monthly newsletter you are sending out? Are there tips and ideas you can offer them that will help them with (or to use) their purchase? Someone comes in your door but does not purchase, are you following up with them? Are they being exposed to you on a regular basis?

Oh, that is a good one. The unconverted lead. Someone who showed interest in your product, service or offer but did not purchase. Did you get their contact info? Are you following up with them? Or did you just let that opportunity turn around and walk out your door for good? How can you get their information? Well, think a little and use your imagination. You could offer them a “free subscription” to your monthly newsletter. Ha, what an idea! Just ask them for their information. You could set up some kind of a draw for a free something or a discount on your service or product. Offer them a coupon in exchange for their information. There are a number of ways you can get this information from prospects.

Ok, back to the list of buyers. Can you set up a referral program? Can you recommend other, complimentary products – either that you sell yourself or from another business? Is your product or service consumable? Will they need more in a month, two months? Be in front of them when they need it again.

I mentioned about a referral program. The idea here is that, no, better yet, let’s just look at an example… Let’s say for instance you have a moving company and offer a moving service. You may be the first point of contact when a family moves to a new city. You know when someone is moving, that means they will need a few things, both before and after that move. They likely need the services of various trade workers – plumber for the new sink, painter to redo the bedroom, new carpet in the den, etc. They may even need to know where to eat out for the first few days in your town and where to shop. So that puts your business in a great position to be able to offer referrals to a host of other services. The trick here is to think of what other services or products someone might need if they just bought yours. Partner up with other businesses and offer to promote them for a fee or at the very least in exchange for them promoting you. It is a win-win for everyone!

Back to ideas for using your database, have you just released a new version of whatever your clients bought last time? Is there an advanced version that you can upsell them to later on? Have you just released a new product all together that they could make use of?

This all comes back to the idea that if you have a database of prospects and clients, you are in a great position to generate repeat business. Create a system and implement some strategies to make use of your database. Once you set it up, you can make it almost automatic. Ideally, you would integrate some of this with your website and follow up with a simple email follow up system for maximum returns.