There’s one more list that almost everyone forgets. It’s literally a gold-mine lying at your feet. And that’s your own list!
If you have not put all your customer’s names and addresses into a database you’re overlooking an incredible source of added business.
This list will be the most powerful list and responsive list you can use for any offers because these people already trust you and like doing business with you.
This is critically important. Especially if you’re in a business that typically doesn’t keep their customer names and addresses because you’re missing an incredible amount of money.
Maybe you’re a retailer or a restaurant owner — make it a habit for your staff to collect customer names! It is absolutely critical! I cannot stress this enough.
When’s the last time you got a personal letter from your favorite restaurant inviting you back? I would have to bet never!
Using your house list is like having an unfair advantage over every one of your competitors.
Think about this fact.
According to a Fortune Magazine survey it is 5 x as costly to acquire a new customer as it is to sell something to an existing customer. Even though it may be more exciting to focus on new business, it’s important to squeeze every bit of profit out of your own customer list.
There’s a whole chapter devoted to your working your customer list so we’ll cover it all in much more detail later on.