Are You Maximising The Value Of Your Current Customers?

March 7, 2023

Are You Maximising The Value Of Your Current Customers?

In order for businesses to grow, they typically need to appeal to a growing audience of people who can support them. However, while this is a long term plan that you can measure and track the results of, sometimes it’s good to avoid taking what you have for granted. In fact, sometimes, the wisest move is to try and increase the proverbial spend-per-head of every client and customer that stays with you already.

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Now, that doesn’t mean we should try and nickel and dime those who support us, nor should we exploit, reduce the value we give, or artificially raise our prices. All of this can cause a real problem in terms of our reputation, and a scorned, previously loyal customer can be a real problem for our brand, not only because of how they’ll never return, but because that denotes we’ve misjudged our renewed approach by a staunch degree.

This is why it’s healthy to ask if you’re maximising the value of your current customer base in the first place. It’s not always that easy to determine if we are, or aren’t.

Leveraging Technologies

Businesses can use customer relationship management (CRM) software to keep track of customer interactions and personalise their outreach - this helps you avoid having to remember every single client on a personal level. Automation tools, such as chatbots and email marketing, can streamline customer engagement while still maintaining a human touch, and you’ve probably seen this in support areas of business websites. Make sure you can manage these relationships, and curate healthy outreach where necessary. You’ll be amazed at the effect it has. However, make sure to curate the best approach by soliciting the best leads, perhaps through a service like Leadfinder.

Enhance Customer Focus

One of the most effective approaches is here to provide exceptional customer service your audience cannot get anywhere else. This can include ensuring fast response times, personalised interactions, and proactive problem-solving outside of just FAQ pages. You may also integrate loyalty programs or rewards for repeat purchases. Couple that with using customer data to identify cross-selling and upselling opportunities, and you’ll be surprised just how much you can gently coax customers to see your further products or services, with a value-added approach. You may also use free samples, sign-up promotions, and more to get your foot in the door.

Be Personal & Specific

As always, if you hope to address someone, it’s good to address them directly instead of just the idea of them. This is why many advertisements will often specifically state who might be relevant for the upcoming marketing material. However, when it comes to actually managing their time with your firm, it’s good to be personal too. 

Use their name, their honorifics, you might even ask them for their gender or age when signing up for an account, allowing them to be reticent and more anonymous, or providing this info where appropriate. You can also base your direct recommendations on buying habits, or suggest scaled services based on their chosen needs, or allow them to figure out their needs by providing a useful questionnaire before they join your service. All of it counts. In this way, you’re sure to never underserve them.

WIth this advice, you’re sure to maximise the value of your current customers.