Guide to Acquire, Grow and Maintain your Customer Database

Every marketing strategy should be measured by it's ability to directly impact and improve upon number of customers, average transaction and renewals.  Increasing only one factor will produce linear business growth. Increasing all three factors will produce geometric business growth.

Increase the number of customers

Executed correctly, basic marketing strategies can produce new prospects who are ready, willing and able to buy products or services. The main purpose of a marketing strategy is to give sales personnel prospects to convert into paying customers.

Increase the average transaction amount

Repeat customers are usually taken for granted and left to conduct entire transactions without ever being asked if they would like to buy more product or service.

Complacency, expecting customers to buy a minimum amount of product or service without ever being asked to buy more can eventually cause customers to spend less money. Customers who aren't continuously offered compelling reasons to keep buying more of the same products and services from one business will look for new reasons to buy from another.

Increase renewals

A customer's repeat business is earned by the business who gives the customer what they want. Without having basic marketing strategies or processes for consistently offering customers more of what they want, repeat business is earned less frequently.

Frequently communicating news and offers to past and present customers via telephone generally increases their frequency of repurchase and is one more step owners can take to grow their business.
 
Customers today have a variety of touchpoints, todays savvy marketing and sales leaders can increase customer retention and awareness by 20% or more by increasing product awareness such as cross-selling through existing customer services channels.  Tactical marketing through these operational teams that provide customer services can bolster the bottom line and aid in those retention numbers.