Eisting clients are five times as profitable as new clients. This means we have to pay extra attention to our eisting group of clients. I already noted I believe mass media will disappear eventually. This means something else will take its place. The existing customer and prospect database plays a big role here. They're your ambassadors, your clients, your network. They chose to become your client or at least show interest in becoming your client. It's not about how large your database is though, it's about the information stored within and the connection between you and your client. A big list of names is useless, but when we combine the list with profiles and preferable attitudes toward our company, we're in business.
A customer profile is a dynamic entity and will have to be kept up-to-date continuously. Using intelligent '2.0' techniques, our relationships set their own preferences and intelligently, we design new questions for clients to answer each month, wrapping them up in games, virals and online interviews. This means we can playfully extend our individual client knowledge base. We extrapolate and enrichen our databases with external information and browsing behavior.
A large group of loyal, 'profiled' relationships is an important source of power for any company. These clients create revenue, new clients, feedback, cost control (cheaper revenue), positive buzz and social branding. If we can build a profile and store behavioral information as well, we can use this information for a personalized approach. Based on browsing behavior, purchases and client- induced buzz, we can create personalized websites, event driven marketing or reward systems.
Customer profiles are accurately turned into an effective marketing approach, lower costs and a source for new clients. That makes individual customer profiles an imporant cost saving tool, excellent for times of recession
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