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Sale and Marketing Tip of the Week: Customer Insight

I’m a huge believer in working smarter rather than harder.  And one simple way to make this happen is to put your data to work for you.

For example, can you walk into your office every morning and turn on the computer in order to see an up-to-date ranking of your customers by [ex] total purchases (revenue and profit) in the past 12 months?

Can you find out what sales and marketing activity brought them to your door for the first time?  And do you use that information to plan your upcoming sales and marketing activities?

And can you tell what motivated them to buy from you versus the competition?  Are they price sensitive?  Or do they buy quality for peace of mind?

Getting these insights helps you focus so your upcoming activities can become more effective.  Getting these insights takes some time – but they pay off with higher response rates, higher conversion rates, larger order size,  higher order frequency…

If you have easy access to this level of insight, how has it helped your business grow?  If you don’t, why not make it a Top 10 item on your Things to Do List?

 

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