Use Microsoft® Excel Differently to Gain a Productive Edge
Issue - Sep 2009
I was lunching with my family at a food outlet which served delicious western food at very affordable prices. When I was about to make payment, the cashier asked if I had their membership card which can be used to collect stamps and redeem food items subsequently. When I told them I didn't have one, the cashier pushed a form for me to fill in. I obliged and furnished my personal particulars. At that moment, I wondered where the destination of that form was - the administration department for recording and filing or the marketing department? If you are the in charge for this membership drive, what would be your decision? If your answer is the admin department, you are not maximising the returns of your program. The details that you have collected could do wonders in marketing and growing your business.
You could tag my address and find that I have gone to the east to savour your food even though I am staying in the west, send me an email to share with me your outlets that are located in the west and increase the number of visits to your other outlets in the west, promote your new products to me via email when they are launched You could also combine my particulars with the rest of your customers and analyse the spending patterns and segment your customers by the area they stay, age, etc.
The findings could help you develop products that cater to your customers age group and attract your customers to buy from you again. Or you could also reach out to new customers who are staying in the same area as your existing customers since these potential new customers are likely to have the same profile as your existing customers. This can be translated into tens of thousands of dollars saving from engaging a research company, only to arrive at the same conclusion. Your marketing effort is also more targeted and thus saves you time and resources in reaching out new customers.If you are thinking that the above activities can be achieved with sophisticated and expensive membership management software, then you are completely wrong. All you need is Microsoft Excel and these tasks could be completed easily even when you are managing hundreds or even thousands of customers. Find out how you can increase your sales at minimal cost, and sign up for our Customer Database Management with Excel Course now!
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everydayExcel Business Lab Pte Ltd
Author of "Hidden Secrets of Data Analysis with Excel" and
"Excel Secrets for Highly Effective Marketers"
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