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The Importance of Getting to Know Existing Customers

Knowledge is power. This is especially true when it comes to marketing your business. While many businesses work hard to understand prospective customers, it is equally important to understand current customers, as well. Only then will you have the power to continue to bring them the type of products and service they want.

We all know that it is less expensive to keep an existing customer than acquire a new one. We also know that by retaining customers over the long run a business is better able to build a profitable and predictable revenue foundation.

While in a perfect world, you would know all about each and every one of your customers, that can be difficult. If you are looking to get to know them better, however, here is a list of ways to do just that.

  1. Walk a mile in their shoes. Take an objective view of your organization from a customer’s point-of-view. Peruse your website to see how easy it is to navigate. Try something as simple as attempting to connect with someone in a particular department. How long does it take to talk to an actual person or to have your call returned?
  2. Organize your data. Can you easily pull up statistics that include data on sales frequency, volume or revenue? Are you able to perform both broad-scale and side-by-side comparisons? You can have all the data in the world but if it is not organized in a manner which allows you to use it efficiently it will do little good.
  3. Develop customer profiles. Every customer has unique purchasing habits and customer service preferences that you need to track. But don’t rely only on information you have in your current consumer database. Ask customers for feedback so that you can obtain more information that will allow you to better engage and target these customers (and then update your database with this information).
  4. Go above and beyond. No matter how long a customer has been with you, never use longevity as an excuse to put them on the backburner. It also is important that you maintain open lines of communication with these customers, regardless of whether they order the same product at the same time and at the same price month after month. Instead, reward this consistency with the type of attention and appreciation you would give to a new client.

In the end, getting to know your customers means compiling data. Once you have this data you can organize it in ways that will allow you to engage with existing customers as well as prospective ones.

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