In the age of analytics, data is often viewed as central to targeted prospecting, efficient marketing, and sales processes. However, you can’t overlook the value that data provides for enhancing customer communication, retention, and referrals as well.
The following is a look at several key benefits of data for optimizing success in selling by improving your communication strategies and approach to customer retention!
Given the lower costs of relationship management relative to new customer acquisition, email campaigns that target established customers serve as much value or more than those targeting new prospects. A single email may spark a repeat purchase, where multi-channel campaigns are often required to trigger an initial purchase from a new buyer.
Email newsletters are one type of customer-focused communication program. When you send newsletters to your customer list, you can track data on open rates, readership rates, and click-through rates. Doing so enables you to amplify the relevance and value of the information you share. Segment your newsletters based on the particular interests of a specific demographic, geographic, or firmographic audience.
As you deliver add-on selling opportunities, you can track the types of offers that customers respond to, and avoid delivering ones viewed as annoying.
The Circle of Influence
Companies increasingly realize that the value of a single customer extends beyond his own spending habits. Customers who refer other high-value prospects to your firm have much greater value than those who don’t. Just as high-stakes poker players play with others like them, big-budget buyers network with others with similar purchasing power.
With enhanced customer data, you can keep tabs on the strength of influence and the scope of the network a given customer offers your business.
Learn What Customers Like
Customer retention is achieved by continuing to offer customers products, services, and information they want or like. Track data on the types of communication platforms they prefer like the delivery timing and the message content. By offering useful and well-liked content, you retain an active audience and avoid unsubscribes.
Efficient Routing and Scheduling
Time is a precious commodity for your sales team. Yet, it takes time, and often travel, to build and nurture relationships. However, the more efficiently you can route and schedule appoints, the more return on investment you get from travel and appointments.
Data Axle Genie offers a feature in its Customer Communications solutions that emphasizes your ability to plot customers and prospects together on a map and plan meetings accordingly.
Customer data offers a lot of value in many different facets of a business. While its value in targeted prospecting is huge, you can use data to enhance communication, retention, and referrals. Keep track of customer preferences in terms of format, content, and delivery, and operate your business in the most efficient way possible.
Let Data Axle Genie be your Customer Communications expert partner when you start your free trial!