How a little bad customer data is costing you big money.

Wanna talk through how an insight like this can impact your company?

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Most of you sell equipment and technology that has a relatively well-defined life cycle. But we find dealer after dealer not using the data from their existing customers to drive their sales volume. Let me explain. If the equipment has a 5 year useful life as an asset for the customer’s organization, as the asset nears age 42, 48 and 54 months, what kind of message do they get from your sales and marketing arm?

73% of equipment dealers have no ongoing sales or marketing program to existing customers. Nothing.

35% of equipment dealers can’t even produce a comprehensive email list for existing customer decision makers. One third could not even produce a simple email list of EXISTING customers.

Geez.

These people know you, liked you at one point enough to buy something from you and are going to have an ongoing need because capital assets don’t last forever. Not only do most dealers not have a marketing arsenal built to target these defenseless animals, a big portion of you don’t even have their contact information handy.

“We rely on sales to handle this.” Well considering the average asset has a 5 year useful life…I’m hoping you don’t turn that rep over. Because if you leave it “all to them” and they leave, they might be targeting them…from their new employer.

If you find yourself here, you’re not alone. Here’s a game plan for you:

  • Invest in a CRM database.  If you have one, start using it.  I know it can be a PITA to sales reps, but it will pay off big dividends to your overall sales organization and company.
  • Build your data list at the close of the deal: Get comprehensive email contact info for all key decision makers at closing along with their consent to email.
  • Fill in some email gaps, do a limited time direct mail campaign to get people to sign up their info (This can work really well. If you don’t know how, get some help)
  • Email Marketing: Develop a messaging cycle for customers that have assets coming to the end of their life
  • Leads: Email them 24-6months from the end of life and read the email results for leads.  Push the leads to sales and you’ll see your numbers pop.

Don’t let a lack of focus on data keep you from doing more deals. If you need help here or just a quick conversation about it, give us a holler.

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