“In the 21st century,
the database is the marketplace.” - Stan Rapp, MRM Partners Worldwide
Midst all the emerging shiny new technologies and digital
platforms, the relevance of database has only increased. Creating, maintaining
and using a database of customers’ is utmost important. Database holds much
relevance because all your marketing efforts are based on it.
Who exactly are your customers? What age are they? Where do
they come from? What are their characteristics & lifestyles? These are the
questions your database should answer.
All relevant details about your
customers are crucial to understand exactly who your target market is. It also
ensures that future marketing activities are more relevant. Measuring the
effectiveness & ROI of your marketing efforts cannot be achieved unless you
capture, store and utilize the information from your database.
Your customer
details must be in one place so they’re easily accessible for speed and
accuracy with the ability to collate and measure that data. The database should
be carefully maintained and regularly updated, to make full and effective use
of a database thus created.
A good database will help you understand:
- Cost Per Lead
- Cost Per Sale
- Conversion Ratios – Enquiries to Sales
- Customer trends & habits
- Customer location
- Customer demographics
- Customer lifestyle
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