sbc how to grow through new and existing customers february 2010
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How to grow through new and existing customers
Small-Business Community
how to grow throughnew and existing customers
Why does it matter to small businesses?
Every business needs to keep
existing customers and acquire new customers to survive
how to grow throughnew and existing customers
Why does it matter to small businesses?
• Helps you to target groups more effectively• Helps you to look for new customers in the right
place• Helps you to keep existing customers• Helps to focus marketing activity
how to grow throughnew and existing customers
Who are your customers?
• Get to know your customers• Gather data• Analyse your findings• Allocate your customers to groups
how to grow throughnew and existing customers
Profile your customer
• How do they use your products or services?• What benefits do they look for?• Where do they live/work?
how to grow throughnew and existing customers
Profile your customer
• What makes a customer profitable?• List attributes• Consider where you can
find more like them
how to grow throughnew and existing customers
Profile your customer
• Who buys?• How frequently do they buy?• How do they buy?• Why do they buy?• Why do they buy from you?
how to grow throughnew and existing customers
Which customers are profitable?
• Use your own experience and knowledge• Analyse sales and profit figures• Look at buying patterns
how to grow throughnew and existing customers
Customer groups – examples
• Low value• High value• Regular user• Occasional user• Location• Product/service• Age/sex/location
how to grow throughnew and existing customers
Which customers are the most important?
Cash Cow Action Rising Star Action
Question Mark Action Dead Dog Action
Customer matrix
how to grow throughnew and existing customers
Customer groups – which ones?
• Select/focus• Satisfy needs• Messages relevant to group• Cover costs
how to grow throughnew and existing customers
Target list
• Build a customer list• Decide on the method of
communication:– Direct mail– Advertising– Personal contact
how to grow throughnew and existing customers
Building customer relationships
• Order processes• Regular communication• After-sales service• Sales service• Complaint handling
how to grow throughnew and existing customers
New customers
• Use existing profiles• Build new lists• Meet new people
how to grow throughnew and existing customers
What next?
• Establish which customers are profitable• Profile your customers• Define customer groups• Decide which group you will target• Compile a list of prospective customers• Plan your communication methods
how to grow throughnew and existing customers
Find out more
• For more useful advice for small businesses wanting to build on their marketing knowledgewww.cim.co.uk/sme