The growth of any business is directly proportionate to the growth of its clients. The more clients you have, the bigger your business gets. As it expands, it’s safe to assume that you have already collected tons of information from your clients including their names, email, address, phone number among others details. These clients may have called or contacted you to ask about your product or service or they may have purchased from you or have reached out you to give you a referral. Either way, these people need to be included in your database list because if and when you do decide to sell your business in the future, you can actually get a much larger sum for it, all because of your updated database list.

I know business owners who do not see the importance of having a database list. I ask them if they have one and they retort by saying they have x number of likes on Facebook, x number of followers on Twitter, Instagram and so on. And while it’s okay that you have those numbers, not having a tangible database list is a real business buster and today I’m going to share three things about why having one is vital to any business.

#1 You Don’t Own Social Media

Yes, it’s good that you have a lot of followers. Unfortunately, social media can shut down at any time. If it does, as ghastly as it may sound, what are you going to do with your customers? How are you going to contact them if you didn’t get their emails and their names into your database? A lot of social media sites have come and gone like Friendster. If you relied on social media so much and didn’t bother transferring information from social media to your database, once it shuts down, it’s gone forever and so have your customers. While you’re on social media now, use it to get people into your database.

#2 You Can Get To More People

 When you have a database you can reach out and communicate with these people on a more direct level. When they are in your database it means they’ve opted in or they’ve voluntarily made a subscription simply because they are genuinely interested in your business. Having people in your database list allows you to really talk to them one-on-one and engage in conversations with them.

#3 It’s A Tangible Asset In your Business

Once you have an updated database and you decide to sell your business it wouldn’t be hard for other businesses to get drawn to buying your business all because of your database. When your database is chockfull of client information, businesses are willing to buy it. Businesses aren’t going to be interested in your tables, chairs and computers, they are going to be after your database and so when the time comes for you to sell your business, having a database gives you the chance to demand a higher price and people are going to buy it!

 These three things that I’ve discussed here will make you see how important having a database is. If you want to know more about building a database list I am happy to offer a 30-minute FREE discovery session with you where we can talk about anything and everything about your business. We can talk more in depth about this topic within that thirty minutes. You can contact me via my email and put 30-Minute Discovery Session in the subject line.

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