This might sound like a school report, or worse still a performance review – but you can really make a huge difference to your business by tapping into the latent potential in your customer data? Over the past few months, we have worked with a couple of businesses who were not making the most of their data. Not because they weren’t smart, nor doing a great job of attracting new business. But simply failing to realise the potential of a customer after their initial contact.

 1)  Previous Purchasers

If you have a high level of one off or single product purchasers, then you need to make your CRM Marketing programmes work harder for you. Make sure you have a good flow of communications to your existing purchasers with plenty of opportunities to cross sell. Use simple product segments to ensure you are stimulating with content related to the original purchase.   You can read more about how to do this in this article which explains why a customer who only buys once is not a customer, but a considerer.  And some simple tactics to re-stimulate purchase.

 2)  Non Responders

Engagement is a key indicator of purchase intent, so maintaining high levels of engagement should be a key measure and objective for your business. Setup re-engagement campaigns that can be activated when a customer fails to open their regular communications.

 3)  Loyal Customers

So the pareto principle will kick in at some point. You will probably be getting a disproportionate amount of revenue from a very small number of customers80/20 is a typical proportion. But these uber loyal and just loyal repeat purchasers are your best source of extra income. So make sure you are treating them appropriately with rich content that is relevant to them and weave related products into your communications to give them every opportunity to x-purchase and stimulate additional  revenue.

 4)  Lapsed Customers

The most common mistake that we have seen, is in assuming that your average re-purchase  tenure applies to everyone in this group and therefore quitting too soon on your follow up process. So instead of treating this group with a mass process, either break them into purchase freq segments or just extend your follow up programmes to include a wider timeframe.

 5)  Unconverted Enquirers

Make sure you have tried 2-3 different points of stimulus before you give up on each and every lead. Start with information related to the ad that attracted them, then try a broader range of products before you stop. As timing is often key in these decisions, ensure you also follow up on the anniversary of the initial enquiry, or relevant purchase interval for more regularly purchased items.

Ifyou need help optimising your customer data then get in touch.