Organizations are focusing on various prospects in the market, especially Data analyzing and software designing, it’s sometimes easy to forget that customer knowledge isn’t a software package or a database it’s an approach to doing business.
This approach can be enabled through huge, complex client data warehouses and advanced smart data mining applications to uncover hidden trends and important insights into buyer behavior. But it doesn’t have to be.
Three basic principles small and medium-sized business can enact to make use of client intelligence to improve customer retention and satisfaction. Money and resources are often directed toward winning the big new client, the fact is that most organizations would do far better if they shifted precious business development and marketing budgets toward clients they know and meet with every day.
Top Executives says “Your best prospects are right here, in your own backyard, where you can meet and talk to them face-to-face. Instead of relying on complex and inexact technologies to discern buying patterns and predict demand, you can simply ask what’s bugging them and offer suggestions on how you can help.”
The similarity lies in both organizations with respect of gaining new customers. These new customers and the one they already have keep coming back to them for fixing and developing new products.
Where is to gain a new client is comparatively difficult in both organizations. These are the organizations where reliability, scalability, and efficiency of services count.
In such organizations procedures are same for acquiring new customers; cold calling, walk-in visits, email marketing, snail mail marketing etc. etc. In cold calling and Walk-in volume is way too high but it’s a low probability game.
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