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Unlocking
the Value of Your Customers
Article by Kevin
Sinclair, CPA
Stay in contact with your customers. There are a variety of ways
to do this and the Internet provides a cost effective means to do so. A regular
newsletter for customers providing them with useful information is the most common
way. However, you need to know what your customers want to make this truly effective.
Gather
the preferences of your customers and monitor their buying habits. This can provide
you with very valuable information. To get valuable ideas, look at some of the
things Amazon does. For example, Amazon allows people to subscribe to updates
on various different types of books. That way, they are able to provide information
on a regular basis that the customer is interested in.
Amazon also has an
author update service. You tell them who your favorite authors are and, whenever
there is anything new by that author, you receive an email notification. They
also have a facility, where for the book you are considering purchasing, that
lists suggested other titles based on what other people bought.
Do these
features generate more sales from their existing customers? You bet they do! How
can you use these concepts to unlock the value of your customers?
Consider
ways that you can make it easy for your customers to reorder. Simple things such
as not having to fill in all their details again on the order form help. That
way, customers only need to advise you of changes to their details and the order
process is a lot quicker.
