Alchemy Deep Search Pty Ltd is a company formed to solve the long vexing problem of how companies can maintain contact with and build a relationship with their clients and customers. This is the fundamental key to unlocking the lifetime value of a customer.
Customers often think in terms of a transaction, where it all starts and stops. Once a purchase, or a transaction has been completed, they don’t feel they own the responsibility of keeping in touch with you, your business or your services. Yet, why did they transact with you to begin with? Many reasons, but underneath it all, it is because your business offers products and services they need.
It is unlikely they will only ever need you once. However, unless you supply them with water, or power, they won’t need you every day, so by the time they need another of your products or services, the chances are they have forgotten you and will go to a competitor. Why is that? You run a business, you probably have a CRM or some sort of database, and you have trouble keeping track of all of them, as they move house, change phone numbers, get married, change names and so on.
Customers typically don’t run databases of everyone they deal with. Perhaps there is a stack of business cards, sitting in that little plastic container on the corner of the kitchen bench top. Perhaps that got lost. So, when they need new services, they are as likely to start again than try to find that plastic box!
Equally, you can’t phone them every day, and ask them if they are moving, changing numbers etc. Perhaps a call centre could do that for you? I’m sure that your customers would tire of that very quickly, and it would be expensive. How do we maintain the relationship?
Alchemy Deep Search solves that as part of an ongoing process.
The first step is to find them again. It is typical for nearly half of Australia’s population to have relocated in any given five year period. If you sell something that they typically buy once every five years, chances are you’ve lost half your clients already.
Thankfully, new innovations include the internet and Artificial Intelligence software. This opens the door for a new way to relocate those lost clients. Let’s face it, they are not trying to hide from you. They sent a change of address card to their families, but they forgot you. Don’t take it personally. They probably forgot at ATO as well.
We have a system that will find out where they have gone, what the new phone numbers and email addresses for them are, and update your CRM for you with these details. Other services go further than that, designed to provide you with a little extra edge, so you can prioritise who to contact first, in that large collection of lost or uncontactable clients that suddenly are “found”. It is all done confidentially, we do not make contact with your clients other than at your specific direction and we do not use any information that is available in the public domain. We do not share your client list with anybody else. Our operation runs strictly behind the scenes, but reunites you with your lost and inactive clients.
Why is this important? There are three reasons;
First, they need your services. In fact, you will know they need your services well before they do. Getting married, starting a family, changing financial circumstances, illnesses, employment changes and many more are all triggers that should cause a review of their financial arrangements. When a happy couple welcomes their first baby into their home, they are most certainly not thinking about life insurance coverage, wills, school funds and the myriad of other things they need to consider.
Second, legislation, banking offers, investments, taxation rules, are an ever moving environment. Your clients can’t, and don’t stay abreast of the latest developments. This can be a very expensive oversight for them, without you there to keep them informed.
Third, they products and services they purchased through you, over time, become only a small part of the products or services they probably need as life progresses. There is a saying that it costs more to find a new client that to sell a new service to an existing client. While that is self evident, it actually is not necessarily true if your client is lost, as finding them again, up until now, can be very expensive.
We remove the pain of finding them from you, so you can do what you do best, and not spend half your week trying to find your clients. The 80/20 rule suggests that you are making your income from 20% of your client base. Who is making their income from the other 80% of your client base? Your competitors? Would you prefer we found them, and even prioritised them, to give you a pool of clients four or five times the size you have now, or would you prefer to get on the phone and start cold calling?
They say there is no gain without pain. We’ll take the pain, so you can enjoy the gain.
Follow and contribute interesting, published articles on issues relating to AFSL, Financial Planners, F.O.F.A. and related technology at:
Follow and contribute to interesting news on IoT, Sensors, MEMS, Drones, AI, Agri-Tech and current trends at:
There may be some overlap in these magazines, reflecting what are seemingly separate but actually related discussions.