While many companies have Customer Relationship Management software, few companies know how to make sense of their customers’ information or understand what further information about their customers would be helpful. In this time of changing markets and needs, it is very important to obtain and use key pieces of customer information to become sensitive to their changing needs and to keep customers working with your company.

Customer relations are changing. Customers are not likely to want any more inventory than they know they will use. As a result they are buying in smaller increments and paying as they go. How does this affect your relationship with your customers? What information should be collected so that you provide customers with more value?

• Make sure all contact information is complete. Not only is it important to get the contact person’s name and title, but you need to make sure his or her e-mail address and phone number are current. One good way to do this is to send an e-mail that is personal “thank you for your business,” gives a special offer on something they purchase routinely, and needs a reply which will verify information.

• Identify your best customers. These are your most profitable customers. Certain key data impacts profitability, such as pricing terms, costs to serve, and products purchased. Included in this information should be data about their payment habits.

• Use the information you know to plan and predict future marketing efforts. Based on trends and past purchases, it is often easy to plot trends in customer needs. Some CRM software will even provide such information analysis. Follow or verify information with simple, quick three-question surveys with your most profitable customers.

By using Customer Relationship Management Software (CRM software) to collect and manage key pieces of information about your customers, you can quickly identify your most profitable customers and learn to meet their changing needs.