Small Businesses Can Benefit From Paying Attention to Client Lists
Keeping track of your client list is an excellent way to create a stronger relationship with each customer. Almost half of all consumers are more likely to buy from a small business than from a large corporation. The same holds true for small businesses. By listening to your clients’ concerns and offering personalized responses, you can ensure a better experience for both you and them. Whether they are online or in person, small businesses can benefit from paying attention to their client lists.
A small business commercial banker recently told me that a client he was helping was preparing to sell his business. This particular business was doing $20 million in revenue annually and had been in business for 20 years. The owner was horrified when he realized how little it was worth and how low his profit margins were. But the business was a joy to run, and the emotional connection to it is what drives it forward.
The competition today is stiff, and a good way to differentiate yourself from your competitors is by offering exceptional customer service. Small businesses lack the resources to compete with large corporations, and customer service is an essential part of achieving this. Using customer service as a marketing tool allows you to build a loyal client list and make your business memorable. Keeping your client list updated and up to date is essential in small businesses to maintain a positive reputation.
By keeping up with your clients’ needs, you can send out email newsletters to alert readers of new products, upcoming events, industry news, and notable business-adjacent happenings. Getting consent is the key to converting consumers into buyers. By using basic customer sales funnels, you can identify which stage they are in and tailor your content strategy to cater to each stage. The benefits are clear:
By keeping your customers updated, email marketing keeps you top-of-mind. Email marketing keeps you in front of customers, which allows you to boost referrals, upsell current customers, and re-engage existing customers. Small businesses can make the most of their email marketing campaigns by offering relevant content and making the communication more personalized. In fact, email marketing has the highest ROI of any marketing channel. This is why email marketing is so important for small businesses.