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Manage Your Customer And Prospect Database?

How well do you manage your customer and prospect database

It has often been commented that one of the attributes that helps increase the value of a business is the quality of its list. So How Well Do You Manage Your Customer And Prospect Database?

Managing the prospect list is critical if potential future opportunities are to be progressed effectively.

Being aware of what your customers are doing, buying, communicating with will allow you to manage them and ensure that customers don’t move from live to lost.

Evaluate How Well Do You Manage Your Customer And Prospect Database?

To determine how well you manage your customer and prospect list, answer the ten questions below. For some businesses it may be that the question is not applicable but most manufacturing or B2B companies will answer either positively or negatively.

How Well Do You Manage Your Customer And Prospect Database

Database characteristic

Yes

No

N/A

1.     Prospects who you meet (at networking, events, visit the shop etc) have their details immediately captured and logged into a system
2.     Prospects receive a proactive communication a few day as after initial contact
3.     Communication can be personalised depending upon the status of the customer
4.     Prospects can be graded depending upon perceived potential
5.     Prospects who eventually purchase (even if it’s only a low value item) can be re-categorised
6.     Customers who make frequent purchases can be easily identified
7.     The database is regularly cleaned and prospects / customers we no longer want to deal with (no potential etc) are removed
8.     The database can be easily interrogated to identify prospects / customers of specific segments
9.     It’s easy to update as contact details change
10. If a customer list is purchased this can be easily integrated

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How Well Do You Manage Your Customer And Prospect Database?

If you answered mainly “Yes” that great if you answered honestly its unlikely that a prospect will slip through your pipeline, or a customer will be forgotten or misplaced. Its also likely that you are using a CRM (Customer Relationship Management) system.

If you answered mainly “No” then your business may be suffering as you are missing out on up sell / cross selling opportunities to customers. Additionally it may well be that prospects are ineffectively managed and conversion rates could be improved.

If you would like more information on How Well Do You Manage Your Customer And Prospect Database click here or for general marketing information click here

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