The customer portfolio is one of the most important assets that the company can build .
To optimize customer portfolio management, it is essential to have a well-structured and organized customer database .
What is the customer portfolio?
The customer portfolio is a select group of people that the company owns. It is organized according to common characteristics regarding their income and purchasing behavior. They can be classified into real and potential customers , which facilitates the design of strategies and efforts that will be made for each of them.
CRM software for customer portfolio management
With the help of a CRM system , we can manage our customer relationships ( identify customers, attract and retain them) through integrated marketing, sales and customer service processes.
We can track:
- Customer offers and orders,
- Sales management and sales effectiveness,
- Effectiveness of customer service and technical support centers,
- The attention provided and the loyalty;
CRM software allows us to:
- Provide better customer service;
- Simplify sales and marketing processes;
- Increase turnover per client;
Having a very good customer database is a sure guarantee for the future of the company . Developing it correctly ensures greater prospects for sustainability over time.
6 tips for proper management
1. Segment customers under the following criteria.
- Demographic segmentation:
- Geographical area : It is very normal for clients to be located in different geographical areas of a country or even in the entire world. Geographic segmentation allows us to know where each client or lead that enters our website is from. Design effective strategies according to their time zone, place of origin, as well as behaviors related to their culture.
- Income : A customer is considered to be someone who has the intention to buy and has the purchasing power to acquire it. We must concentrate on identifying those who have this condition for our value proposition. We will focus on making every effort from marketing to meet their needs correctly.
- Age : With the age of our clients, we know which generation they belong to, what their behaviors, tastes and preferences are.
- Behavioral segmentation :
- Occasional : This involves grouping customers according to how they conceive the idea of buying or using the product. This will help us to increase the consumption of our product portfolio.
- Benefits sought : determines the main benefits that customers seek in the different products offered by a company.
- Frequency of use : classifies clients as occasional, medium or intensive.
- Loyalty : customer behavior will allow us to carry out loyalty actions.
2. Provide all customer information to be able to cross-sell
It is an excellent strategy to build customer loyalty, improve service and increase sales percentage.
3. Write down all kinds of data
Customers can provide us with valuable information that helps us provide excellent personalized service.
4. Transform information into qualitative information
It consists of assigning a numerical variable to the data we have about our clients. This will make it easier for us to classify them according to certain customer categories.
5. Consider adding colors and labels to organize
It is an excellent visual resource. You can detect the different categories of clients, and know which clients are active and which are not.
6. Review your client portfolio on an ongoing basis
What benefits does good customer portfolio management provide?
- Expand market share : As the company grows, the number of customers tends to increase, which is why it is very necessary to maintain very good control, accompanied by a vision and growth strategy.
- Customer loyalty : we will be able to offer them the solution to what they need, in a timely manner. With a very good management of the client portfolio, we know who the most frequent clients are, with their purchasing periods, which are their products or services that they consume the most. It allows us to anticipate with offers or launches, that adapt to their needs or requirements. We must know the client to offer them the solution to their problem!
- Sales opportunities: Re-contact customers who have purchased once but not returned. Develop customer attraction and retention strategies.
Conclusion
A good Marketing Automation Software or CRM Software can help you. There are many free or paid software that will ensure you get all the hits and misses in our lists of the best CRMs.
At Comparasoftware you will find a team of experts ready to offer you the best solution for your business, saving you risks, extra work and worries.
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