| Have you ever stopped to consider the wealth of | | | | customer or prospect status, items purchased, |
| hidden revenue potential that may lie buried in | | | | and so forth. |
| your customer database? The resident data could | | | | Gold Mine #2: Take a Customer/Prospect |
| be worth a small fortune in the way of untapped | | | | "Temperature Reading" |
| possibilities. This article lists various ways that you | | | | If the conversation seems to be flowing well, you |
| and your company can utilize this precious | | | | can next assess how happy the contact is with |
| resource more effectively to probe your | | | | whatever has transpired so far. |
| customers' real wishes and concerns. | | | | If it's a prospect, you could ask, "Are you |
| Past purchasers and current prospects in your | | | | comfortable with our continuing to contact you |
| database represent potentially warm to very | | | | periodically to verify your pending needs? What |
| warm leads for future business -- unlike people | | | | timing would work best for you?" |
| you contact via cold calls, who have no | | | | If it's a customer, consider asking, "Are you |
| relationship with you at all. So if your organization | | | | pleased with your products and services to date? |
| is not making every effort to up-sell, cross-sell, | | | | Are they doing exactly what you wanted them |
| pamper, placate, or otherwise retain previous | | | | to do?" |
| buyers and prospects, think of the revenue it | | | | If the customer's answer is no, proceed to Gold |
| may be forfeiting! | | | | Mine #3. If the answer is yes, you can continue |
| If you haven't mined your data extensively, | | | | to probe more deeply into the "happiness factor" |
| consider doing the following things, each of which | | | | by asking for: |
| has a crucial purpose: | | | | -- Testimonials and success stories. Try to make |
| 1) Ensure the accuracy and completeness of your | | | | arrangements to collect statements that can be |
| customer/prospect data. | | | | kept on file, and get permission to use them. |
| 2) Take the temperature of your customers and | | | | -- Additional needs. A related reason for this call |
| prospects -- are they happy? | | | | might be to apprise people of new offerings. |
| 3) Expose hassles customers are experiencing, so | | | | Delve into what's new or different about the |
| you can begin fixing them. | | | | contact's situation since your last conversation. |
| Start with a Telephone Campaign | | | | Perhaps they've grown and want more of the |
| You can begin this process with a call to each key | | | | same, or even some of the new! |
| customer and prospect contact. One issue to | | | | -- Referrals. Does the customer know of anyone |
| resolve is which department in the organization | | | | else who could use the same products or |
| should do this. Does either "everyone" or "no one" | | | | services, given the customer's name as the |
| own the customer data? Then perhaps you | | | | referrer? |
| should volunteer yourself, or suggest appointing | | | | -- Permission to be used as a reference. Ask |
| someone to do this important job. | | | | whether prospects can get in touch with the |
| In case you need to give anyone a rationale for | | | | customer for details on positive experiences. |
| pursuing this effort, here's a good one: Marketing | | | | -- Suggestions for greater improvement. Is there |
| research reveals that customers who've | | | | anything that could make the customer's |
| purchased something from your company at least | | | | experiences even more enjoyable? |
| one time are far more likely than non-customers | | | | -- Willingness to test future upgrades. Would the |
| to do so again. This is a compelling reason for | | | | customer be willing to try out updates before |
| getting on the ball and mining for gold! | | | | they're released to the general public? |
| Let's assume that you're ready to get started | | | | -- Opinions on potential offerings. If your company |
| with your telephone campaign. What do you say | | | | wants to learn what consumer reactions might be |
| and do? You could plan to use a checklist of | | | | for a possible product or service, here's a way to |
| talking points to cover in each call. The scope and | | | | find out. |
| depth of the conversation will depend on the | | | | Gold Mine #3: Uncover Any Hassles Your |
| willingness of the contact to continue the | | | | Customers Are Experiencing |
| discussion, so it's ideal to cover the basics first. | | | | If the contact is unhappy with your offerings, |
| Gold Mine #1: Ensure the Accuracy and | | | | don't shy away from hearing the news. Consider |
| Completeness of Your Data | | | | that this is the perfect chance to mine more |
| Especially if the database has not been kept | | | | valuable data that will turn into gold after you and |
| up-to-date, or has recently been upgraded, | | | | your team sift through it. For example, you might |
| merged, or otherwise significantly massaged by | | | | learn that: |
| technology, the first points to cover would be the | | | | -- There are immediate but basic problems that |
| correctness of the information. In one such | | | | you can help remedy right away. |
| scenario, you might start by saying: | | | | -- Major malfunctions are occurring that should be |
| "Hello, [contact name], this is a courtesy call from | | | | documented and fixed. |
| XYZ Corp. My name is [name] from the [ABC | | | | -- Gaps exist in the internal hand-offs for |
| department]. I'm calling to confirm whether our | | | | converting prospects into customers. |
| records are up-to-date and complete, as we've | | | | -- Customers or prospects need something that |
| recently conducted a major upgrade of our | | | | you don't offer, which could spark ideas for new |
| databases to better serve our customers. May I | | | | offerings, accessories, and promotional campaigns! |
| take a few moments of your time to verify your | | | | In conclusion, your customer/prospect database |
| information for our records, and to answer any | | | | may represent an under-exploited source of new |
| questions you may have about our products and | | | | income streams. Therefore, you have everything |
| services?" | | | | to gain by taking charge of this resource and |
| Assuming that the answer is yes, you can | | | | mining its treasure! |
| proceed to verify the current contact information, | | | | |