According to the textbook Marketing Metrics, you have a 60-70 percent chance of getting a repeat customer to buy your product or service whereas only a 5-20 percent chance exists for getting a new customer to buy your product or service. Additionally, many times, your best customers are the ones referring new business to you. Far too often, business owners spend most of their time and marketing efforts trying to find new customers instead of focusing on their best customers. Most likely, you already can identify these customers. But maybe you are not sure who your best customers are. Below are three simple approaches that you can try to identify your best customers.
1) Review Email Reports – Your email reports are a great place to gain insights into what customers are taking action. Check to see not only what email they are opening, but also what they are clicking on within each email. You can also use this data to create targeted list. By segmenting your list into specific interest groups about your products and services, you will be able to understand your audience and be able to increase engagement by sending this only what is of interest to them.
2) Check Online Reviews – Check sites such as yelp.com, foursquare, social media platforms, etc. These sites will give you great insight into what your customers are saying and pictures they are tagging to your location. You can also see what customers are raving about your business products or services.
3) Analyze purchasing habits of existing customers – If you have a Customer Relationship Management (CRM) program, this is a great place profile customers. You can analyze the data for the frequency, amount of purchase and how often they purchase. Many CRM’s also give you the lifetime spend and value of a customers. This information is invaluable as you can also use this information to send targeted educational information and promotions about the specific products and services they have a history of purchasing.
These are all ways to find out about your best customers. Use your findings to create a list of your best customers.
Stuck or not sure where to start? Schedule a consultation, here, with us today. We are here to help you!
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