No, that’s not a typo. What I mean is, don’t assume you have a customer for life or even the next purchase. I’m willing to bet you know the unique definition of “assume”. There’s no way you want to join the donkey club in this “the age of instant communication.”
The point is you need to start learning more about your customers. Wait; don’t click away because you know all you need to know about your customers. That may have been true yesterday but is it still true today? See “the age of instant communication” in the previous paragraph.
For example, just this week, the following articles appeared in an on line direct marketing publication, in one day!
“Banks roll with new financial regulations to learn more about their customers.”
“Make accurate customer data the center of loyalty efforts.”
This was just one publication. These two headlines point to the fact that customers are always changing, and if they mean anything to you and your firm, you need to meet the change head on.
In the first headline, banks need to learn more. Stop and think a minute. I would think a bank knows a bit more about their customers than, for example, a retail store? If that is a true statement, then even the banks don’t have enough information about their customers. Or, they neglected to act on it because the money was flowing in like a river after the first spring thaw.
Even collecting a minimum of information and acting upon it, such as relevancy in the message to the sender, causes an uptick in responses. For example, if an optometrist has a better lens for people who wear bifocals, why send this information to the whole list of patients?
The need for a bifocal usually occurs in the later years of life. Why not go into your patent list and just pick the patients currently wearing them. Then select patients over 40 who are not wearing them, but likely may need them. The response can be two, three or four times better than just an ordinary message.
If you collect data and not react to it, you’re missing many opportunities and not realizing it. So don’t just sit there and wonder “where have all my customers gone?” Start learning more about your customers and then prospects, to regain those rock-hardened relationships you once had.