Establish A Database

The most important part of the system is a detailed and easy to use database. If you haven’t got a list of your customers’ names and addresses, you really haven’t got a business.

Your database should become the most valuable asset of your business. Your customers are your goodwill. But if you have a database that has detailed information on all your customers and is useable on a continuous basis then your good will is no longer something imaginary, intangible airy-fairy figure. It’s a proven and tested customer base that you can in the future show to prospective purchasers of your business. It will add much more value to your business.

Every business no matter what industry it is part of should have a database. Doctors, dentists, solicitors, accountants, all take your name and details and send you newsletters, and other interesting mail. They keep in contact with you to ensure you use them when next you need professional assistance or service. But that’s not the only reason they are keen to keep in contact with you.

They realise that their database is their business. They have learnt that when they wish to retire or sell up they will not be selling the office or shop premises, or the furniture, or even their own expertise as they are “off to the beach”.

They will be selling the list of names and the system they have used to promote their business to that list. They sell a tried and proven system and all the records they have maintained over the years in business. These records not only have the details of each and every customer but have all the promotions that worked as well as the promotions that didn’t work.

The customers of any business are the business. The business that has a detailed database of all it’s customers showing how often each customer visits and makes a purchase combined with a systemised effective marketing program of tried, tested, and proven strategies in place confirming how and why those customers keep coming back, is a far more valuable business than the business with no customer and marketing records at all.

That is why all businesses whether they be an accountant’s practice, doctor’s surgery, ladies fashion boutique, the local fish & chip shop, restaurants, café/bars, men’s wear shops, and sports stores, should all have a database which is constantly used and updated. So when any business is put up for sale and the outgoing owner can show a list of customers, together with a history of correspondence and a marketing system for keeping those customers coming back, then that person has a real business to sell. This business is far more valuable than a business with no system and marketing records at all.

With any business the value is in the system and the customer list. It is not in the fish & chips, or the recipes, or the clothes on display, or the fancy furniture or display stands. You are selling the customers and the system implemented to get those customers in the first instance and to keep them.

The better the database and the systems for getting customers the more valuable the business.

Once you have your customers on a database the most important task from here is to keep in contact with them. The post or email is the most efficient way to do this. Just imagine you were receiving over a twelve month period from your local café a newsletter every three months, together with a birthday card including a gift voucher, as well as regular prize draws and discount vouchers. Where would you go when you next had to take your family out for lunch?

How are you building your database?

Have a great week.