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Building A Marketing Database Building a Marketing Database (MDTB) is no longer a luxury for most businesses. It's a matter of survival. The real Marketing Database invariably includes good customers and supports the Customer Communications designed to retain those customers and keep them loyal to the organization. Whether building the Marketing Database is a deliberate and ongoing compilation or the by-product of a promotional element, it requires careful planning to be successful...and to avoid the pitfalls of violating people's privacy concerns. The key to successful database is a clear understanding of customer value (LTCV) and what needs to be done to realize the full potential of a relationship. The Marketing Database isn't an end in itself. Its job is to support the sales communications effort. How it is assembled should be driven by its intended use. If you don't know how you plan to use it, don't build it...because "they" will come and it will be an expensive game! (Most people find out the hard way that maintaining data in current and accurate form is more challenging -- and sometimes more expensive -- than collecting it!) Building a database of information on the best potential customers can be approached several ways. Drawing the information from customer records, adding to the data through telemarketing and e-mail contacts, and over- laying data from outside sources are some of the ways to consider. Using contests, asking customers for referrals and structuring advertising to pull response from appropriate people who are interested in (or need) your products are other options. Identifying the needs and applications for a Marketing Database and developing Customer Communications programs are among our specialties. We've helped clients achieve results totaling hundreds of millions of dollars. There are few tasks more important - or dangerous - to the health of your business than building a database for marketing purposes. It can corner markets or drive you into bankruptcy. Be sure you test it first! |
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