Your Most Valuable Asset – Your Customer Database

These days, one-on-one marketing that is, contacting people directly is fast becoming one of the best forms of marketing available.

This is happening for some very sound reasons:

  • Better response rates
  • Higher sales
  • Improved profitability, and
  • the creation of a saleable asset

This information is designed to give you insight into some of those benefits and just why your customer database is so important to the future of your marketing.

A Gold Mine at your fingertips

As business owners, we’re constantly looking for people to sell to.  You know, people who match our products and services, people who want what we’ve got, appreciate that we offer value for money, and more.

These people are called your customers. And other people like those soon-to-be customers who have made inquiries.

Amazingly, the opportunity to tap into this huge resource as a marketing method is lost time and time again.

Why?

Because we say we’re too busy, wouldn’t know where to start to capture the all-important customer details needed to make this asset work for our businesses.  Mostly because it seems more important (and sometimes easier) to concentrate on continually winning new customers instead of tapping into the hottest list in town – your customers.

Your customer database affects 1 of the 4 key ways to grow your business.

There are 4 fundamental ways to grow your business:

  • Win new customers
  • Get them to come back to you more often
  • Get them to spend more when they do, and
  • Improve the processes in your business to ensure that you achieve the first 3
You see, the more times your customers purchase from you, the greater your profits.  And the greater your profits, the greater the longevity of your business. 

Because you paid to acquire a customer on the first sale, every other sale after that has no cost other than the cost of the goods itself or the labour to complete the service, both of which would be covered in the price.  So, the more sales you make to a past customer, the more profits you keep.

It’s Like the Icing on The Cake and It’s A Huge Opportunity for YOUR Business.

Working ON Your Business Rather Than IN it What’s That All About?

Imagine this – you are in your business, answering phones, talking with staff, juggling all the elements of your business at once – marketing, sales, staff, cash flow, debtors, creditors, suppliers and more.  You’re extremely busy, you’ve forgotten to each lunch, you have a pile of paperwork that you’ll take home and do it into the night.  And on it goes.

This is working IN your business.

Now picture this instead….You’ve taken 4 steps back from your business and you’re looking at it objectively saying ‘Ok, that’s my business over there, now what do I want to do with it?’  What will this business do? How will it be? What do I want it to be like? What does it need to do to give me my life, to free me up from working all the time?

Imagine your business as a lump of clay.  What would you mold it into?  What would make it perfect for you, and perhaps for someone else?

This is working ON your business.

“When you WORK ON your business you’re working on TOMORROW’S income

Working ‘on’ your business is the difference between your business providing you with a job OR immense wealth and satisfaction.

Initially you may spend as little as 1 hour a day or half a day a week.  You can than build up to more, it just depends on your circumstances.

What does “working ON it mean?  Simply developing key systems – systems for everything! 

A Number Of Things Happen when you systematise processes.  First, YOU don’t have to do the process.  Second, others less skilled than you can do it.  Third, when you systematise, you automatically develop what we call ‘a way of doing it here’.

That ‘way of doing it here’ not only makes things happen in a totally predictable way, it also makes your business worth much more.  Why?  Because you have a way of doing it here.

It is a different way of thinking and it depends on the systems of operation. Business life Coaching can help you apply those thought processes and those systems to your business

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