Customers always observe and research your company's products with curiosity and excitement. And once these sales relationships are established, you will have at least some close relationship between the customer and the company. These relationships will develop in a product cycle that you can completely control and profit from.
Companies dream of retaining these customers so they can build long-term relationships. However, companies have to face the fact that the number of customers they expect is unlikely to come true. Knowing that your potential customers will one day become valuable and profitable customers for the company, the biggest challenge is still how to find a large number of potential customers. so.
Maybe the potential customers are only a small number, maybe they have never been exploited in your company's existing market, or they are a part of your competitors' customers, but the important thing is The important thing is that this number of customers needs to be fully exploited to enrich your company.
1. Discover potential customers.
First of all, we need to define what a potential customer is?. Although the following definition may not apply to all companies, in general, a lead is one that provides little immediate value, but may provide great value in the future. . One way to identify such potential customers is by analyzing customers using a pie chart. Based on that chart, we will determine the value of the product/service that a customer contributes to the company, thereby discovering the most valuable customer group.
After you have identified your group of potential customers, start searching and exploiting this number. Companies often look for valuable customers from their own familiar customers, thereby analyzing opportunities and using those opportunities to fully exploit profits.
Not only are financial services companies using complex data analysis to find valuable customers, but many other companies are applying the same method. A typical example is Pearl-River Resort and Casino company looking for potential customers from their current customers and customers who are targets for future exploitation. First, they establish fundamental criteria to form customer groups, from which they will offer different remuneration regimes for each separate customer group, specifically classifying customers into "groups". newest" to the "most familiar" groups, or in other ways, "users of affordable products" to "users of high-end products".
2. Identify the potential of untapped markets.
Identifying growing potential markets remains one of the most promising methods for finding potential customers. In fact, GM's Jack Welch has done something that not everyone can do, which is to apply a special method: dominate market share in a fixed market, then create a new market. new and dominate that market.
“In our company, creating a new market means creating a new business environment,” said Judy Melanson, vice president of travel and customer service firm Chadwich, Martin and Bailey. , where there will be untapped potential customers. However, this is no longer completely true. A new market is not necessarily a new business environment, but a new customer group. A new customer group is a new market. That is the method for you to exploit potential customers."
Vesta Company is a typical example of applying this method of attracting customers. Vesta pays special attention to building customer strategies and a new strategy that the company is applying is to keep prepaid cards of new customers. The company's goal is to provide the best communication services to customers. They focused on the traditional market and made significant profits as revenue from 2003 to 2004 increased to 374%. Currently, the company is exploiting potential customers by identifying other customer segments in the new market and can profit from retaining customers' prepaid cards.
3. Maintain and develop.
Finding and exploiting potential customers is a very important factor, so companies are trying to come up with new strategies to maintain and exploit profits from this customer base for the future. Typically, companies will analyze their new customers for three to four months, until they can calculate the total potential the customer brings. They can invite customers to participate in regular company programs, or create communication strategies to maintain the number of potential customers.
Mr. Ellen Olson, former deputy director of global marketing company Epiphany, said: "Although this method is very risky, it is also extremely effective when these customer groups are considered to have potential. quite large for the company's development. “As long as your expenses don't exceed the company's total allowable value, you've been successful with your lead generation approach,” he adds.
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