The relationship you develop with your customers, combined with the personal information you are constantly collecting, can be a goldmine for future business. The fact is most business professionals spend a significant amount of money marketing to people they don't know in an effort to procure new business.
Wouldn't it make more sense to go deeper with your existing clients – to really understand their needs – and spend your marketing dollars on people you already have a relationship with?
In Bill Gates' book, Business at the Speed of Thought,* he states:
"How you gather, manage and use information to serve the needs of your customer will determine whether you win or lose in your business."
This is a terrific definition of database management. Database management is about gathering information about your customers so you have an understanding of their relevant needs. From there, you can proactively structure a plan to give them exactly what they want.
Have you ever provided excellent service to clients only to have them turn around and use the services of one of your competitors without even giving you the opportunity to make a bid for their business? When this happens, it happens for a reason. The fact is, your client had a need and you weren't there to fulfill it for them, probably because you didn't even know they had a need.
We now have the ability to run reports and analyze the information you have about your customers. You can then use that information to put yourself a step ahead of the competition. By proactively serving your clients' needs and interests, you will no doubt become more successful
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