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Higher returns from your customer listWhat did most business owners lack? They lack of a system to tap into their customers database to add more values to them and to make more money. Converting your customer base requires less effort than to convert cold leads. Then why do most business owners failed to create a system to "milk" their current database? My guess is because creating campaigns to attract new customers are a more exciting process. On top of that, marketing agencies continue to pitch on having an all new idea to attract new customers for you. This may create a false image that marketing is about attracting new customers only. This is only the half truth. Generating new leads is necessary, converting existing customers again is also necessary. The good thing about converting your existing customers is it cost you less money. If it is costing you less money and less effort, why do marketing agencies not recommending it? Most probably they ain't getting paid. One business that I know, has six thousand contacts in their customer list, but they left it there unused. All the effort of collecting database was wasted when you do not used it.
Your existing customers know you, they bought your products or services, they trusted you. They are more readily to buy when you offer something that is of value to them. Imagine you have one thousand existing customers. You created a new product or implemented a new service selling at $100. An average of 10% of your existing customers buy from you. You will generate 100 x $100 = $10,000. You generated $10,000 with very little money because they are already your customers. You save money on attracting them, you may even want to pass the saving back to them. One thing you must take note, take care of your existing customers. Giving them real value whenever you can. Build relationship, build trust with them, it can help them to be more ready to buy.
Effective marketing by pin pointing your market
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