Geeks2U Promise
We guarantee you'll love our fast, friendly service - or we'll refund your money.  
133,572 Happy Customers & Counting
Need tech support?
1300 769 448
Extended hours, 7 days a week
Home  /  geekspeak  /  Are you making the most of your customers?

Are you making the most of your customers?

Customers are one of your business’ most precious assets and if you don’t understand them, you’re flying blind.

Considering businesses tend to live or die depending on how many customers walk through the door, many businesses know surprisingly little about what makes their customers tick. Going on a gut feeling will only get you so far — there comes a time when you need to take a more systematic approach to understanding your customers to ensure you’re making the most of each other.

Customer relationship management (CRM) software is no longer just for the big end of town, with a new generation of cloud-based services designed to put enterprise-grade features within the reach of the smallest of businesses.

Rather than just offer a centralised way for your people to manage your customer contact details, a well-rounded CRM system lets them handle everything from marketing, lead generation and prospect nurturing, to sales, order tracking and forecasting. It can bring you closer to having a single holistic view of a customer, making it easier to transform all that data into insight.

You can also use a CRM system to manage a customer loyalty program that goes far beyond simply stamping a loyalty card and giving customers their 10th coffee for free. Electronic loyalty programs gather invaluable data regarding customer behaviour, which can help with business planning by giving insights into purchasing trends, peak demand times and staffing requirements.

This information can also help with cross-selling and upselling — which is not a dirty world if handled delicately and selectively, rather than taking a shotgun approach and risking alienating some customers. Customer behaviour data also allows you to look at the big picture, including conversion rates, customer lifecycles and customer lifetime value.

Once you move into data analytics you can also look for indications of customer dissatisfaction and tell-tale signs of impending churn. Churn is not necessarily a bad thing; once you map customer lifecycles you can better appreciate that sometimes losing a customer is for the best. Once you understand your customers, you can focus on attracting and retaining the right kind of customer, with a better appreciation of what they actually want from you.

If you don’t know which are your most valuable customers, or even how to measure true customer value in your industry, then it’s time to do your homework. Once you have a better understanding of your customers, you can start focusing your efforts to ensure you keep the right customers coming back for more.

Share

Recent News

Popular social media destination Facebook made worldwide headlines recently, and not for the kinds of reasons that Facebook might want to be noticed. That’s because for a roughly 12 hour period, access not just to Facebook, but also Instagram and Whatsapp — all services owned and operated by Facebook — consumers worldwide had issues connecting… More 

There’s a well-known test that taxi drivers in London have to sit, called “The Knowledge”, that can take years to pass, detailing just about every street in the UK’s very disorganised capital road system. It’s tough learning that many roads, although it may have side benefits, with some studies suggesting that London black cab drivers… More 

Not that long ago, Apple surprised everyone by updating its line of Mac Mini computers. The Mac Mini isn’t like any other Mac that Apple sells. Where much of its output is in laptops, or the 2-in-1 style iMac computers, the Mac Mini is instead a “headless” computer — a fancy way of saying that… More 

There’s been a lot of speculation around foldable phones in the past 12 months, fuelled by the hype from the manufacturers busy producing devices that can fold from phone to tablet and back again — or even crazier concepts, like phones that become slap bands when you place them around your wrist. That latter idea… More