How Consumer Data Builds Preference

Do you treat all customers alike?

One gravest mistake frequently occurring in CRM technology is the failure to adopt selective treatment of customers. It's widely understood in marketing circles that “no two customer is created equal”.

Knowing customers, more impotantly, profitable customer is right way to gain best value from Customer Relationship Management. It's not about the number of “fields” in your customer database, but how you're able to unearth quality information about your customers by looking from the collected data. Data collected from numerous customer interaction can be the right place to look for some common traits, taste, preferences etc.

How to identify profitable customer segments and target messages to them?

Marketing is always under a state of flux. Sales tactics that worked last year, may not work this year. In the era of heated competition and shirking customer pools, it's important to target messages to select customer segments.

Marketing goal is to learn as much as you can about your customers and develop your specific marketing programs so they they can match with customers need. Prime reason for differential treatment is that customers have different needs.

SMBs should collate, identify profitable customers and find customers' concerns before sending specific marketing campaigns. Change in time would alter the challenges and bring new concerns about marketing.


Redefine Your Customers understanding – Question time


• What are the immediate challenges that concern customers?

Can your solution offer something to mitigate those concerns. Can you provide value-aded services or serve better guarantees to your products/solutions

• How are customers facing the slump in their business as a result of down economy?

Identify how your product help them weather the ravages of current economy.

• Are they willing to buy your product/services in smaller increments

Offer test programs or provide your customers with phased purchasing

• How can you resolve the customers concern about your products/services?

Formulate new programs to show how they gain more value from current customers, and provide support services to enhance their experience f

In Summary:

Right interpretation of customer data can help businesses learn which customers produce the most profit, not just the most revenue. Quality data in CRM help you to analyze customers buying patterns, and help you to identify potential high-value customers. In the end, meanigful data in CRM tool can help maximize ROI from targeted marketing and reduce the cost of sales.