The most obvious opportunities can often times be the most overlooked opportunities. Most entrepreneurs know that it costs less money to serve an existing customer than it does to try and find a new customer. Yet many entrepreneurs focus on getting a new customers and simply assume their past customers will always be there. There’s a saying “you never know what you’ve got until its gone” and this couldn’t be more true than when your business is in a corner and you are fighting for sales.
How do you manage your greatest asset – your customers? Do you track them in your phone or in a CRM system? Does your CRM system allow you to send out content or link to a content provider that gives you feedback on the level of engagement your business is receiving? Do you know what content your customers enjoy and do you hold regular reviews with your team to decide which customers to engage one-on-one with or how to develop new content that will keep your customers engaged? When was the last time your business ran a poll or a survey to understand what challenges customers were having with your business?
There are many different places and ways to manage your customers. You can use online databases, newsletter lists, social media groups, social media channels, and any number of other tools that are meant to help you maximize and leverage the great asset your business has. Where do you manage your greatest asset?