44% of companies emphasize customer acquisition over customer retention, and over 60% of marketers think their advertising efforts should be centered on attracting new customers. However, this focus on customer acquisition is often misplaced. It’s significantly more expensive to attract new customers than it is to retain current ones. CloudOptik’s SmartProfile platform will help you create a more personalized marketing message to increase your sales using the customers you already have.
Visibility into Customers’ Usage
As a service provider, you’ve sold your customers a multitude of different products and features. But how do you know which products your customers are actually using? Aside from asking your customers directly, this type of data has been hard to come by. CloudOptik changes this with SmartProfile. Conducting an audit on your current customer platform, CloudOptik can provide you with insight into your current customers that you can’t get anywhere else. SmartProfile lets you know what features are on and how your customers are using them. Having this type of data allows you to fill in the gaps of what your customers need and address these needs accordingly.
Turning Improved Customer Insights into Improved Customer Experience
Understanding the data on current customer practices aids you in more strategically targeting your sales pitch to these customers. Knowing this, CloudOpitk’s SmartProfile data gives you a critical perspective into your customers from which you can adjust your sales and marketing angle to better meet their needs. Utilizing SmartProfile data will allow you to re-invest in the customer experience by re-strategizing your marketing approach to craft more personalized marketing and sales efforts. By knowing which features and products customers aren’t fully utilizing, you will be able to upsell them and suggest products that may better suit their needs.
Satisfied Customers for Increased Sales
The customers you already have are far more likely to purchase a new product from you than new customers are. In fact, they are 50% more likely to try a new product you suggest to them compared to new customers. Furthermore, current customers have been found to spend 31% more than new customers do. Using SmartProfile to better target your current customer base and upsell products will focus your efforts where they are most likely to get a return on your personnel investments and increase your average revenue per user.
When customers feel like they are valued and their needs are being anticipated and met, they will be more likely to stick with your company than shift to a competitor. An increased focus on your current customers by a mere 5% can increase your profits by 25% to 95% — definitely a worthwhile investment. Proactively using data from CloudOptik’s SmartProfile platform will allow you to prove to your customers that you value them and can meet their needs while simultaneously improving your bottom line.