Not following up on your customers properly could easily make you lose them and put your business at risk. To prevent this from happening, it is convenient that you carry out a detailed control using a client portfolio.
You probably already use a similar method, but we want to help you optimize it. here you will discover what is a client portfoliothe types, why it is important to have one and how to manage it.
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What is a client portfolio?
It is a register or database with detailed data about the consumers of a business. The good customer portfolio management It allows to obtain a wide knowledge about those people with whom you have a commercial relationship.
This way you can give them personalized attention and prioritize contacts to create opportunities. There is also the portfolio of potential clients that gathers information about who might be interested in the brand.
Why is it essential to have a client portfolio?
Count on sales customer portfolios it gives you important information about them but we are going to give you more details about why you should have it:
1. Cost reduction to acquire customers
The information obtained by the customer portfolio management It takes you to know the profiles better. That is, purchase possibilities, interests, socioeconomic level and more.
Thanks to that, you can develop campaigns with marketing that are successful and attract real customers. You will also get to know what products and services to create to meet their needs.
Undoubtedly investing in strategies, according to the information collected, will reduce costs for .
2. Higher profitability
A good customer portfolio analysis it will help you make them more profitable. First, because by selling to those who already know you, the cost per acquisition is lowered.
And second because of the relationship of trust with your brand, they are likely to buy more, making you get a high .
3. Follow up on lost customers
having a client portfolio you will be able to keep track of lost customers, something important for your business. It has already been proven that it is easier than get new ones.
In addition, those who return offer more advantages since they are faithful and buy much more, which generates higher profits and profits.
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What are the types of customer portfolios?
There are different types of client portfolio What you need to know to create yours.
1. General data
In these types of client portfolio basic information is collected: age, address, gender, telephone number, email, social networks and profession.
You can collect this kind of information about customers when they make a purchase and sign up for a membership. sayings data will be used to create segments that contribute to the personalization of email campaigns.
2. Descriptive data
Other example of client portfolios It is the one that contains the descriptive data. These go beyond the basics and their objective is to deepen the information, to better serve customers.
Includes data that can help you make forecasts about behaviors and habits in purchases, which are obtained by carrying out a or interview, with precise questions.
3. Qualitative data
Qualitative data is collected in one of the types of client portfolioas they allow you to collect information on attitude, on what motivation your brand generates, opinions and why they choose your service or product.
They help you meet your loyal customers and the areas in which you should continue to work and improve. Qualitative data is produced through different channels such as online reviews, website or mail surveys.
4. Behavioral data
Other example of client portfolios It is the one that involves the collection of data on behavior. With it, you will gather information to understand customer patterns when using your services or products.
You will find out about their habits for browsing, use of social networks, your online activity and purchasing behavior. These data are commonly produced through a social or demographic study on regular shoppers.
How to manage a client portfolio efficiently?
The purpose behind a careful customer portfolio management It’s about keeping them. By using it, you can use important strategies to get new sales opportunities.
There are several steps to a correct customer portfolio management. Here we detail them:
1. Divide your customers into sections
The customer portfolio management It implies dividing it into different sections, 3 at least. The first must be the location, especially if your company has a great reach.
Then comes the revenue section, which will help you prioritize to profitable customers. Finally, there is the category according to the relationship you have with each one.
2. Link processes to leads
The marketing area must join forces with the commercial area for a better management of . Link data on visits and calls performed will help departments use the right skills and tools.
This creates a network with specialists who will give the best care to those who make up your sales customer portfolios.
3. Provide customer information for cross-selling
Sellers should not only focus on certain services or specific products of a season. They need to expand to other items different.
To achieve this, it is essential that the strategy areas in the company are united. Data should be passed between departments so that there is a better customer portfolio management.
4. Write down all kinds of data
By defining what is a client portfolio, it is clear that it is made up of data. So you should collect as many as possible. Regardless of whether they are about professional life, personal life or other elements that you consider valuable.
If a customer makes a remark about something personal, they can be asked about it later. Although you should avoid prying into his private life, you must show interest and closeness.
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5. Define what information is quantitative
Add numeric character to the data in the client portfolio, to find out what types of consumers they are. You must analyze how much they like or dislike your products and services.
Likewise, it quantifies how they evaluate the attention you give them, the technical service and other important aspects. Include that information in sales customer portfoliosto know how to address them and meet their needs.
6. Choose the ideal sales representative for your types of clients
The customer portfolio analysis leads to understand that not everyone is the same. Therefore, you have to choose a representative who can give the right treatment, according to the client.
In many cases, some connection with buyers is necessary to guide them through . Of course, it is important that you have information about the client to know which representative is the best.
7. Check for patterns in consumer behavior
The client portfolio it has to be packed with information about their actions and behaviors. You must know what they like to buy, how, the time it takes to decide and the time of purchase.
Those things are also part of what is a client portfolio and foster good relationships with buyers. Taking into account their tastes and preferences, you can make sure that the product reaches them just when they need it.
8. Use organizational elements
Colors or labels are good organizing elements for customer portfolio management. Using them will allow you to define or establish differences between the levels in which each buyer is.
They are a great medium so as not to forget meetings, keep track or call a client.
9. Maintain a good relationship with your old clients
The client portfolio It serves to easily contact current and former consumers. Maintaining a healthy relationship with those who left keeps an open door for the return.
Although they may not be buying your product right now, they may recommend you to others. If you take into account the old customers, the possibility of them coming back later is quite high.
10. Attend the portfolio daily
The customer portfolio management It must become a daily habit. Only then will you achieve profitable results that will help you retain customers and increase your sales.
How to measure the profitability of your client portfolio?
The sales customer portfolios they must be profitable so that businesses do not fail, since they all need regular buyers. Next you will discover what formula to calculate its profitability:
1. Formula for the profitability of the client portfolio
There is a formula that is widely used in performance comparisons between two portfolios. This is based on examining them according to time, that is, TWR or Time Weighted Return in English. Shown here:
- (F1): TWR=x100
- (F2): RPN=((NAVF-CF)/NAVI)-1
RPN is the profitability of period N and NAVF the value in the portfolio of said period. NAVI is the initial value in the portfolio for that period. While CF represents the cash flow outflows or inflows from the portfolio.
2. Example to measure the profitability of your client portfolio
have a client portfolio example, referring to the calculation of its profitability, will be useful to you. So in the following table we will show you in a practical way how to apply what we explained above:
Date 01/01/2020 06/30/2020 01/01/2021 06/30/2021 12/31/2021
navi
–
100,000€
155,000€
185,000€
200,000€
NAV (before CF)
–
105,000€
160,000€
190,000€
205,000€
CF
€100,000
50,000€
25,000€
10,000€
–
NAVF with CF
100,000€
155,000€
185,000€
200,000€
205,000€
RPN
0%
5%
3.23%
2.70%
2.50%
(1+RPn)
1000.00%
105.00%
103.23%
102.70%
102.50%
1,000
1,050
1,084
1,113
1,141
TWR
0.0%
5.0%
8.4%
11.3%
14.1%
APR
–
10.4%
8.4%
7.4%
6.8%
Days
0
180
365
545
729
Years
0
0.493
1
1,493
1,997
How to increase your client portfolio?
take care of the customer portfolio management presupposes analyzing how to make it increase. We recommend these actions:
1. Offer personalized treatment
Make the clients you have now, and those of the portfolio of potential clientsfeel exclusive. If you want to conquer them, you have to give them a personalized treatment so that they do not feel that they are just a sale.
It is important that they feel that you want to help them with their problems and meet their needs. Customers expect more than good care, they want you to take into account their pain, tastes and preferences.
2. Create loyalty programs
Loyalty programs aim to increase people’s consumption. An example is the program with points that the client accumulates, for later…
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