Ten point Checklist. How to assess your database marketing agency
You rely a lot on your marketing database to build intimate, relevant, personalized relationships with prospects and customers. It is the systematic approach to collect, combine and analyze relevant data of various customers. These data are maintained in your company's database. This generates valuable insights on customer management and lead generation. Optimizing and improving your marketing strategies depend upon your awareness, knowledge and understanding about marketing data. Compared to the age of traditional marketing there are more consumer data which are now assembled, reserved, and handled. These consumer data is used in a new and more sophisticated way.
Database marketing helps you to improve marketing (prospect) communication, sales and marketing as well as product development.
An ineffective marketing strategy can directly impact growth, potential and profit of your organization. Following are the steps which helps you access your database marketing agency.
Segmentation: Segregating enormous data
Do you collect multi-channel information to build customer profiles?
Segregating various prospects or customers is the first stage of database marketing strategy. Only a percentage of your customers will buy your products among the entire population. So it becomes extremely important for you to pay attention to individual customers. You can segregate the customers as per their necessities. This segmentation helps you to understand your valuable customer. For segmentation you need to carry out market research. This market research can take place via telephonic or face-to-face interview, mails and surveys. It becomes easy for you to profile the customer. For that you use variables like behavioral, demographic, socio, economic and so on.
In a B2B marketing scenarios, the major variables that you use here to segregate market data are:
- An organization's sector, size, geographical location, and buying patterns
- An individual's age, gender, lifestyle, region, buying behavior and attitudes
The process of segmentation helps you to get ahead in the market competition.
Customer communications: Give importance to your intended customer
You can identify which customers, who are most likely to use your service or buy your products. This way you can build a trustworthy relation with your customers. You can constantly communicate with them with information about your products that they need. It helps you to provide them quality customer service. The current products can be improved based on various customer needs.
Make your message very unblemished and straightforward
Do not try to convince the customer allowing decorative, creative or clever promotions. You might remember that you have watched an entertaining TV commercial. But you really do not remember what the commercial was actually advertising. Do not repeat that. Be simple and straightforward. This helps you to build a trustworthy relation with your prospects.
Pay attention to accuracy:
Rate the quality of your marketing database as
- Need to improve
You can enhance the quality of data management by cleaning erroneous data and paying attention to accuracy. You can save time and money. Information imported from marketing database should be valid and error free. The reliable data should help marketers so that they can navigate through their plans and programs in the right direction which generates more leads.
Proofread your communication cautiously
Do not send out a communication with an embarrassing typo or costly error. Incorrect dates for a sale, an inadvertently large discount, or changed digits in your telephone number. These errors render a campaign useless or worse. Have several people edit your communication carefully to avoid these problems.
Data Scrubbing: Remove opt-outs
Do you scrub the database for erroneous irrelevant or outdated information regularly? Incorrect, inappropriate, outdated, redundant and missing data are key examples of dirty data. If this data is used for decision making then it may lead to a critical error. Predictive, predefined model will become erratic and unreliable.
Cleanse your data; avoid communicating with people who have already said, they do not want to hear from you. Junk mail and spam are simply not effective from a business viewpoint. They can also lead to some negative consequences. You may be blacklisted, or blocked by service providers. Remove these opt-outs to make data more effective and reliable.
Data Appending: Appended data:
You add your existing customer's detail like first name, last name, contact address, phone numbers and so on. In this way you build your own customer's database. Now, you wish to continue your business with an effective and convenient way but you do not have the email address. The customers' data can be validated and merged with an email list, and email data can be appended. In this process you get an email list.
You get an opportunity to send opt-in messages to customers which reduces blacklisting. As a result, your company's contact records are effective, enhanced and updated. This information can be used to create customer segments and guide strategy designed to create powerful customer communications.
Email appending is the most powerful marketing tool today.
Data gathering: Gather data from email subscription and Web Sites
Gather data from the website. Web sites are a tremendous research tool which helps in effective www.spanglobalservices.com customer management. No database marketer can really be successful without a personalized Web site enabled with cookies or some other customer identification mechanism.
Prospect management is the very first step which helps to acquire your customers. Once you are able to identify your potential customers through the process of segmentation it is easy for you to carry on with the prospect management process. You contact your profitable customers and constantly send them information about the products and services that they are willing to use. They are the one who will actually buy your product. They would like to hear from you very often. Based on the segmentation tools once the customer is segregated according to their type or buying ability it is easy for you to focus on individual customer. This way you build an effective, loyal relationship with your valuable customer.
Approaches in this area have become important. The cost of new customer acquisition has been well documented. An assessment over database management can also identify lost customers. You can regain customers whom you have lost. Also you can reactivate dormant customers. The Lifetime Value (CLTV) of customers should be given more importance.
Decide how you track responses
It is not always easy to provide information on which customers have responded to a communication. It may be necessary to set up a tracking mechanism, like an offer code. This should to be able to tie purchases back to a campaign. You need to think through your tracking process before you start mailing your customers.
Database marketing strategies are often used as the base for implementing customer relationship building. It plays a vital role in maximizing marketing effectiveness. It helps you to determine which targets and segments you should track. It ultimately allows the organization to consistently develop better products and services and market them efficiently and effectively.
Most importantly, the marketing database is the essence of marketing campaign execution. The quality of your marketing database determines the ability to deliver relevant, appropriate marketing messages to prospects and customers. Marketers need to trust in their marketing database; therefore ensure that the data is accurate, complete and reliable.
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