Paying attention to client lists can be helpful for small businesses in many ways. For example, small businesses can offer incentives to repeat customers, such as discounts on birthdays and freebies after ten purchases. By offering such incentives, small businesses can create brand loyalty and retain their current customers. However, they should be careful not to stray too far from their original business plan. There are many other benefits to paying attention to your client list.
A direct line of communication with clients opens up new opportunities to improve products. Customer service conversations can also reveal new customer segments. For instance, Rogaine was originally designed to reduce blood pressure, but later discovered that it also promoted hair regrowth. Although this kind of customer feedback is rare, it can prove helpful. It can also inform marketing strategies. Ultimately, customer feedback can help small businesses grow their brands.
Paying attention to client lists helps small businesses better target local markets. Big companies may base their investments on national sales trends, but small businesses know what their local customers need the most. The ability to target customers using lookalike audiences can be a great way to reach a new audience. This can increase sales. This type of audience targeting can be very helpful for small businesses. However, it can also be costly for small businesses.