Database Marketing: It’s Not What You Think
For many small businesses, the term ‘database marketing’ conjures images of a complex and highly specialized endeavor, practiced by brainiacs in large corporations but rare as a Madagascar pochard in the average sized firm.
This and other misconceptions could be holding you back, says an article from InTouch CRM.
Rocket Science or Not?
At its core, the author notes, database marketing is simply the practice of collecting information, analyzing and learning from it, and using insights gained to target and follow up with customers. Chances are you already have most of the data you need in-house to start or improve your outreach.
For example, customer data, such as name, address, email address, purchase history and so on probably exist in some form, somewhere on your server (likely several ‘somewheres,’ if you’re like most small businesses). The trick, of course, is assembling the data into one location (or software package) and making it easy for your marketers to access. It can be more, of course. But this is database management in its simplest form.
Strike Two: It’s Costly
Data is a business asset. Database marketing helps you maximize returns by leveraging its strategic value. As with any technology, you can spend a lot, and a big-boy implementation may require significant infrastructure upgrades. But stepping up your game doesn’t necessarily have to be expensive. The cost of many entry-level software packages is nominal, especially considering the potential paybacks in business efficiency, intelligence and insight.
Third Mistake: Not for Me
It’s possible that you could do just fine relying on current database marketing methods. But the more you know about customers, the easier it is to connect with them in a meaningful and relevant way.
The key to growth, loyalty and retention, then, lies in what you do with your data, which arguably makes database marketing essential for any profit-minded business. Changing your perspective about this most promising practice could lead to improvements in how well you engage current and future customers.
For more ways to better understand your in-house data and make it work harder for you, check out our huge collection of data management tips, including Making Sense of Unstructured Data.