Owning Your Customer Relationships (and business assets)
Do you have control over your receipt-time email list capture? Did you realize this is a question you have to ask?
What’s the value of your mailing list? (You have one, right?) Huge. While the numbers will vary depending on your type of business, how does 21% ROI sound? And since you’re building your list at receipt time, these subscribers already know your product or service and presumably will be more inclined to purchase from you again. All you need to do is occasionally remind them to do so. Why are we asking these questions then?
Ask yourself, “who “owns” the customer relationship?
You probably think you do. Depending on the system you use for customer checkout, the answer may not be that straightforward. If you never see the opt-in email address of your customer, you don’t “own” it.
A note on terminology: the customer always owns the right to opt in or out to your messages. We use ‘own’ in this case as a term of responsibility, respect, and opportunity. Imagine if we rephrased the term as, “who holds the opportunity to reach out to the customers and responsibly community directly with them?” It’s wordier but represents the same thought.
After you spend the time and effort to create your list, it’s an asset of your business. When properly utilized, it has direct tangible and intangible value, from encouraging word-of-mouth introductions to driving actual sales dollars through your door. However, if you don’t control it, you leave yourself at risk of losing the benefits you’ve worked hard to gain.
Take a look at your current point-of-sale provider, particularly if you’re mobile. When you send an email receipt, do you get an option to ask the customer to opt into your email list? Do you then get the email address or does the provider keep it? Does the provider make you use their tools to send email or can you choose the provider that suits you best?
In short, does your provider interfere with you owning the relationship with your customers? Do you think that your business should control assets like your mailing list?
If so, check out SMBple Sell. Each transaction comes with the opportunity to ask your customer to join your mailing list. You receive the opt-in email addresses attached to each transaction report, letting you use the mailing list manager that suits you better (such as MailChimp – which is who we use, Constant Contact, or even your local email client).