It’s easy to overlook the benefits of paying attention to client lists, but a small business can reap huge rewards from paying attention to its list. For instance, by offering special deals to repeat customers, a small business can emulate the benefits offered by airlines, which reward loyal fliers with discounts and freebies. This approach is especially effective for small businesses, which are still relatively small compared to larger organizations.
Another benefit of addressing customer issues and feedback is that it opens a direct line of communication with customers. Through these conversations, small businesses can find new product ideas, as well as uncover entirely new customer segments. Rogaine, for instance, was originally developed as a blood pressure-lowering product, and later discovered it could also help promote hair regrowth. While this kind of feedback is rare, it can be extremely valuable for marketing efforts.
Paying attention to client lists can also help small businesses reach local markets more efficiently. While big businesses may base their marketing efforts on national trends, small businesses know what their customers want in their area. Segmenting target audiences can help attract new customers and grow an online audience. Using lookalike audience targeting can help you target customers with similar tastes. By keeping track of customer preferences and buying behaviors, small businesses can grow their customer bases and increase sales.