Customer Relationship Management,

The most overlooked marketing asset for any small business is their existing client list. It’s seven times more costly in time, money, and effort to acquire new business from a stranger than it is to generate new sales from a current client.

What’s your strategy for retaining your current clients and encouraging them to make additional purchases? Without a strategy, you’ll likely lose clients faster than you can acquire them. An effective approach to ensure your business continues to thrive is by consistently marketing to your current clients.

To do this effectively, you need a usable marketing database. Do you have a marketing database containing information about your current clients? If not, it’s crucial to create one because you’re missing out on sales opportunities.

You should consider using a Client/Customer Relationship Management (CRM) database program like ACT,Maximizer, Sales Force. These software usually charge a monthly fee.

A Customer Relationship Management (CRM) system is a powerful tool designed to help businesses manage and nurture their relationships with customers and prospects. Essentially, a CRM serves as a centralized database where businesses can store and organize valuable customer information, such as contact details, interactions, purchase history, and preferences. By utilizing a CRM, businesses can gain deeper insights into their customers’ needs and behaviors, enabling more personalized communication and targeted marketing efforts. Additionally, CRM systems often offer features such as task management, email integration, reporting and analytics, and automation capabilities, empowering businesses to streamline their processes and improve overall efficiency. Ultimately, a CRM serves as a cornerstone for building strong and lasting relationships with customers, driving customer satisfaction, loyalty, and ultimately, business success.

As a bonus tip, consider leveraging HubSpot’s free CRM to streamline your client management and marketing efforts. HubSpot’s CRM offers a user-friendly interface and powerful features designed to help small businesses organize, track, and nurture their relationships with clients and prospects. With HubSpot’s free CRM, you can centralize all your customer data, track interactions across various channels, and create targeted marketing campaigns based on valuable insights. Plus, HubSpot’s CRM integrates seamlessly with other HubSpot tools, such as marketing automation and sales software, providing a comprehensive solution to drive growth for your small business. By harnessing the capabilities of HubSpot’s free CRM, you can supercharge your marketing efforts and build stronger relationships with your clients, ultimately driving success for your business.

If you already have an Excel database, most CRM programs make it easy to import your file, saving you from retyping the information. Ulilizing a CRM program is one of the best investments you can make in your small business.

Studies show that approximately 65% of people cease doing business with companies because they feel neglected and unappreciated. What are you doing consistently to make your current clients feel valued and appreciated? Providing special, red carpet treatment will lead to more referrals.

Another advantage of using a CRM database is that it streamlines tracking and follow-up with your prospects.

It’s crucial that your marketing database has the capability to segment contacts. I recommend two primary categories: current clients and prospects. Segment your current clients based on the yearly revenue they generate for you. Identify which clients fall within your top 20%.

It’s also wise to segment your prospects into A, B, or C prospects, making it easier to prioritize your focus.

What information should you collect? For business-to-consumer marketing, gather personal details such as marital status, whether they have children, hobbies, occupation, and birthdays. Of course, collect their contact information, including email addresses. Additionally, find out which social media platforms they use.

For marketing to businesses, gather information about their industry, number of employees, years in business, ownership type, and sales revenue. You can also include personal information about key decision-makers. Depending on your situation, there may be other pieces of information you’ll want to collect.

In summary, without a marketing database (CRM), marketing to your current clients and prospects becomes more challenging, resulting in missed sales opportunities and client attrition.