What are the top 10 reasons to keep your customer lists up to date?
You might be surprised to learn that up to 50% of customer relationships could end within the first 90 days. That means if you don’t maintain your customer lists, you could be missing out on a lot of sales. Here are the top 10 reasons to keep your customer contact information up to date:
- Targeted advertising: Up to 90% of all purchasing decisions are made within the first 90 days. Therefore, it is extremely important that you target your advertising to customers that have shown interest in your products and services. You can only market to people who have purchased from you in the past. Maintaining a customer list allows you to do this.
- Effective customer service: You can only provide excellent customer service if you have the names and contact information of your customers. When a customer calls in with a complaint, or needs some extra help, you can easily provide excellent customer service if you have the customer’s name.
- Increased sales: Maintaining a customer list also keeps your sales records up to date. Having up to date contact information allows you to analyze your sales records and identify areas of growth. You can then focus your sales efforts in those areas.
- Increased customer loyalty: Maintaining a customer list also increases customer loyalty because it makes your customers feel special. Giving your customers the option to subscribe to your mailing list makes them feel even more special. This will increase customer loyalty and keep customers from “shopping around” for better deals.
- Predictability: By maintaining a customer list, your business will become predictable to your customers. When your business becomes predictable, it means that your business is trustworthy. This increase in trust will result in increased sales as your customers feel comfortable spending more money with you.
- Cost savings: Maintaining a customer list also reduces the costs of customer acquisition. If you acquire a new customer that has the same preferences as an existing customer, then you don’t need to spend money advertising to the new customer. This will also result in cost savings in advertising and customer support.
- Increased productivity: By maintaining a customer list, your sales staff will be more productive. This is because the sales staff will be able to provide better customer service and market to their current customers. This will result in more sales.
- Improved brand recognition: By maintaining a customer list, your business will also improve its brand recognition. Brand recognition is very important to consumers. A study found that a company’s brand recognition increases by 12% for every hour spent on customer support activities such as FAQs and contact information lookup.
- Customer confidence: Maintaining a customer list also increases customer confidence. When your customers feel confident about your products or services, they are more likely to spend money with you.
- Increase in profits: The final reason to maintain a customer list is that it increases your profits. As your business obtains new customers, you can sell more advertising space or increase the price of a product or service. These changes increase your profits, which results in an increased return on your initial investment in the business.
As you can see, there are many benefits to maintaining a customer list. Maintaining a customer list is extremely important in order to increase profits and reduce costs. At SMB Dynamics, we provide a variety of options to help our customers maintain their customer list.
Whether you are interested in our CRM development services or our administration services, we have what you need to help your business succeed.
Visit https://smbdyn.com/start if you’re interested in starting a CRM project with SMB Dynamics.
