Your Greatest Business Asset
The most valuable asset you can own is a well-maintained customer database.
If your company writes software, then your source code is like the family jewels. You’ve probably got a safe somewhere in your building with that code locked inside, and if you’re smart you’ve also got copies at a remote location.
Well if your product is that valuable, then how valuable are your customers? It’s easier to get a product than a customer. Therefore your customer list deserves even more reverence, security and protection than your product.
That said, it’s simply amazing how many companies are sloppy about what is arguably their most valuable piece of intellectual property: Their customer database. That’s right, no matter what you do, what you make, or how smart you are, the most valuable thing you own is your list of customers. And the second most valuable thing you own is your list of prospective customers, those people who have expressed interest in your product or service.
Do you capture the name, address, phone number and email address of everyone who calls you? Do you stay in contact with them, letting them know what’s new and always reinforcing your sales story every time you contact them?
If your customer list is the most valuable thing you have, then maintaining it and growing it should be your number one priority. Just doing a good job of this will put you head and shoulders above the crowd.