Your customer database can generate money in the bank over and over again.
Many small business owners don’t take the time to build a customer email list. This is one of the biggest marketing mistakes a small homeowner can make.
An existing customer is your best customer and being able to contact them at any time is crucial.
Example of how to reduce your monthly income:
Do you have a clothing store. You are at a fashion convention to buy new clothes for fall. You come across a beautiful, one-of-a-kind coat, but you’re not sure if your customers will like the coat.
The coat is quite expensive even at wholesale price and you would hate to buy 3 or 4 and they just sit on the coat rack.
Send your customer database an email with an image and the price of the item. Tell them you are in New York City at the Annual Fashion Convention and want to know if anyone would be interested in the coat.
You explain that there are a limited number of coats available and that you will need a deposit or X amount of dollars sent to the store account before you can order the coat.
You send the email at 9:00 am Tuesday morning, New York time, and wait for a response.
As of 9:00 am Wednesday morning, you have 89 responses in your email inbox. 74 of your customers want you to buy the coat, and 15 customers emailed you to say maybe later.
As of Wednesday night, you have 54 people who have sent in the deposit for the coat just as you requested.
Orders are placed on Thursday morning.
His markup on the coats was $90 each. She earned $4,860, all because she had immediate access to her clients. Clients you had trained on how the world of fashion works and how they could benefit from custom orders from top designers before the garments were distributed to top brand stores.
Your customer database is worth more than the money in the bank.
Because on Thursday morning you send your clients another email, except this time it’s a new designer bag from a famous European designer.
Get the image?
Even if you get the image, if you don’t have a customer database, you won’t be able to develop the image. Having an up-to-date customer email database is crucial to increasing monthly revenue.