Using your customer data to increase sales
Your customer database provides information that you can use to increase sales. For example, you could:
offer rewards to current customers if they introduce new customers to your business
ask customers for testimonials about your business, for use in sales and publicity material
ask business customers about their plans and offer to work with them on their new projects
find out who your most valuable groups of customers are so that you can target new customers in the same groups
tell customers about new, upgraded or related products
communicate regularly with customers through emails or newsletters – read more about email marketing
You can use your customer database to maximise Customer Lifetime Value (CLV). This is a measure of the profit you retain from selling to a customer or groups of customers, set against the cost of marketing to those customers.
You may, for example, be able to up-sell – explaining why a higher priced product would suit them better. You may also find opportunities to cross-sell other products that fit their profile. For example, customers buying paint from a builders’ merchant may also be in the market for small tools, nails and screws.