Today’s competitive markets are intense and demanding. They require that you not only sell and service more customers than ever, but also that you maintain close proximity with them. Creating strong customer attachment and cultivating repeat patronage might be the only way to long term success in this extremely dynamic world. But, when it comes to enhancing customer loyalty, there is nothing better than managing customer lists.
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A customer list is a list of previous buyers from the company maintained by it in order to continue the business relationship and promote customer loyalty. Having a list of one’s social friends may not have any economic value. But if they happen to be the customers of your company to whom your products are sold, a list having their details might prove to be of significant economic value and can give the owner a huge competitive edge. However, customer lists need to be continuously updated, since many times obsolete information about potential leads result in sheer waste of time and resources, ultimately resulting in flatline sales and constricted profits. Besides having an updated customer list, keeping a tab on quality customers is also essential to overcome competitors and possess greater market shares.
Below we highlight five simple ways to creating customer lists with quality customers on board:
Consumers are spread everywhere. Targeting all of them may be an inefficient and futile exercise, since organisational resources are scarce and limited. Thus, having a quality customer list means having potential leads which can be targeted with sufficient probability of converting them into loyal customers. Consider for example Netflix, which focuses on millennials as their target audience.
Hence, knowing where your quality customers are is the first step to creating a successful customer list.
Offer compelling and creative perks
Offering your customers five rupees off or a five percent discount is like pushing a newspaper coupon on purchase of mobile devices. In order to attract quality customers and retain them in your customer lists, you need an innovation strategy. Sponsoring good causes and engaging in social media marketing will provide exceptional value for customers, an important measure to retain your customers.
Kick ass customer service
A successful business recognises the importance of having a fantastic customer service in retaining quality customers. Sadly, businesses these days are woefully ill-equipped to manage customers. With the increase in the utility of products increases the expectation of customers. However, poor customer service experience reduces the overall utility of the product. Thus, improving the quality of your sales representatives will go a long way in creating customer loyalty.
Know what your customers want before they do
Today’s customers are spoilt by choice. Bombarded with hosts of products and information overflow, finding the right product is akin to finding a needle in a haystack – extremely difficult. Providing customers with the product they need without much hassle goes a long way in generating a satisfactory experience. Take for example Foursquare, a local search and discovery mobile based app located in New York, which makes customised offers depending upon the frequency of visits and the type of products purchased. Major brands like Amazon and Facebook have already incorporated it in their business. Thus, if you can determine what customers need before they can find out themselves, customer satisfaction increases manifold, guaranteeing you their loyalty.
Predict customer emotions
When an organisation connects with the emotions of customers, the payoff is huge. Studies indicate that inspiring emotional connectors motivates customers to purchase more, increasing the profitability. Thus, establishing emotional connections can be the next best method to gain real competitive advantage and attract quality customers.
The path to sustainable and profitable growth begins with only one factor – having quality customers on the list, and that is the sole number you need to grow. It’s that simple and that profound.
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