The face of Database marketing is still continuing to evolve despite being around for nearly three decades. Many marketers are yet to implement Database Marketing, wait a minute, what is Database Marketing?
Database marketing is the practice of classifying, collecting and then scrutinizing customer data to deliver tailored, relevant and effective marketing messages to customers. The database is compiled using data acquired from a range of internal sources including CRM, email correspondence, data warehouses, and, external sources like social media and discussion forums. The primary aim of database marketing is to use this information to implement marketing strategies that ultimately upsurges profits.
Here are six suggestions to drive your company’s marketing ROI and for long-term success in the millennial marketplace.
Step 1 – Start by segmenting list
Breaking up your contact lists into smaller segments is the first step in Database Marketing. These segments can be cut and combined in a number of different ways using a combination of value, life cycle, demographics, psychographics, industry, company size etc. to develop more personalized messaging strategies.
The basic level of segmentation involves sorting or arranging customers and prospects by key attributes like type, size or potential, sales revenue, employees, product purchases, purchase interest, etc. A higher level of segmentation involves profiling or scoring customers and prospects based on their customer journey and key insights like buying timeframe, market influence, and likelihood of repeat purchase and expected profit margin.
Profiling and scoring help in prioritizing your accounts and in designing effective data strategies by identifying frequencies, for example, 80% of ABC Corp’s profits are derived from the top 20% of customers or let’s say Software vertical comprise 35% of ABC Corporation’s customer base. A well – segmented targeted database can drive 66% higher conversion rates.
Step 2 – Expand your Universe
Identifying and connecting with high potential prospects is the primary goal of most marketers. For this knowing your ideal customer profile (ICP) and total addressable market (TAM) is very critical. Analyze and do a quick TAM analysis to figure out your current market penetration. Based on your buyer personas – “heavy users” that fit your predetermined criteria, expand your total addressable market (TAM) by identifying companies analogous to your ideal customers.
SMARTe can simplify the process by helping you run a quick TAM analysis to identify your current market penetration and suggest companies that best fit your Ideal customer profile.
Step 3 – Grow existing market share
There has been a long-standing belief that there are two distinct types of salespeople: hunters and farmers. But what do you do in a mature market where there seems to be little to hunt and no new fertile ground? The key is finding pockets of profitable, micro growth opportunities within your existing accounts. It’s easier, faster and less expensive to sell more to existing customer than acquiring new ones.
Do you feel there’s more scope to infiltrate your existing customer accounts? Are there more purchasing decision makers you want to reach?
Expand your existing accounts by targeting audience who have already shown interest in your service offerings or who have their colleagues who already are your clients. Your company’s client servicing, operations, and account managers play an important role in making this happen.
Step 4 – Customer Retention
Bringing in new customers is hard, but losing them is easy and costly. That’s why customer retention is critical. Increasing customer retention by 5% increases profits 25-95%.
To shift the focus from acquisition to retention, Consider updating CRM,, Become your customers’ trusted advisor and keep your customer happy, Send frequent communications, Interact on social media, Turn complaints into opportunities, Run loyalty programs etc.
Customer retention will give you visibility, trustworthiness and competitive edge to stand out in your industry and hold onto your hard-earned gains.
Step 5 – Optimal Channel and touch points
Several direct marketers were able to improve the effectiveness of their programs by implementing optimal contact management strategies and incorporating the impact of reconnecting into their audience selection strategy.
Communicate with your audience on all the channels they leverage, including web, mobile, and email. Dr. Jeffrey Lant’s “Rule of Seven” states that you must contact your buyers a minimum of seven times in an 18-month period for them to remember you.
Knowing that you need a minimum of seven touches, calculate upwards from there based on how much information you need to convey. If you can address your target account’s specific business challenges and give them the information they need to make a buying decision, your company earns their trust and gains credibility.
Step 6 – Measuring Results and Iterate
Database Marketing allows you to manage members, events, and contacts while at the same time keeping in touch with customer feedback and behavior. So how do you know if it’s working?
The great thing about Database Marketing is that everything is measurable, from open rates and click-through to sales. But from the outset, be clear about what you want to measure. Your goals might include increasing sales, generating leads, encourage referrals or getting a booking for an event.
Once you’ve identified your goals you want to measure, identify the performance indicators you’ll use to gauge progress towards those goals. This could be in the form of the volume of leads generated, conversion rates, average sale value, and the number of new purchases, revenue, and net profit.
Finally, the most important thing to remember is to put your findings to work – refine and develop future Database marketing campaigns based on your results. Each campaign you run gives you better and more accurate statistics about you. Record all feedback, track, and yardstick your success from the very beginning to improve your strategy.
hntsh
sedda
lancsfirerescue
srbi
kisho
classedu
netmarks
duyun
adabas
ikpay
keyskillset
blogmistress
scoregame
cnuifxmp
yomiba
tomassetti
0105
snmm24
lzcy8
freehtmltopdf
pkstep
lostrealm
3no
dkzr
accord-myunion
gezondzwangerworden
j
my-adserver
nonude
nstarikov
jaiuttal
bz-779
emailscraper
sowmedia
seethroughmedia
uit
epsparking
alexclassroom
pixelprojekt-ruhrgebiet
fortetheatrecompany
beutlerink
1001merkuronline
beetroot
heroconf
moneyplansos
ghostgunner
content-cms
eshare
pusher
parosproxy
betterworldclub
camarasantodomingo
kyffhaeuser-nachrichten
rkh
pagosonline
mycairo
idiso
tehpodderzka
groupseres
igne
axygw
willametteheritage
broadgun
kumamotokan
mcdvisa
nickrenew
tomgroup
photoshare
marinsoftware
191gm
schultze-braun
mcmastercce
shoeracing
vill
iam-hc-saas-001
pacetoday
whatdoyoumeme
testwpon
amffastigheter
osbelenensessad
romgaz
upgraderc
lnseo
webinclick
kfm
scruffandsteph
jjcomputer
specialessays
bytelink
claplepentedo
apsinesalgarve
bpn
lusoepicentro
homebase24
bloominbrandsbenefits
tmpgenc
hohen-neuendorf
tounet
123mobas
minecraftcup
beeindia
web-cyradm
v2-restudy
git2go
equitis
66992325
swogo
truckdrivingjobs
mountfieldlawnmowers
1000peacewomen
takko
aemark
mpmsistema
chdistillery
lasatlantisbonuses
drielandenpunt
prairiemountainhealth
zurichopenair
jabloshop
freshtechafrica
notodofilmfest
learngaelic
www222843
aomenxpj
amyvcooper
huohu46
stokescg
injuryboard
91
agenda
apricot2017
thera
ndsc
recentdrone
skywaywest
kgmedia
583723
lxddz
cairo-lang
zimmi
valdorciainfo
junk-tv
ssgame66
bcbikerace
linuxfund
wcmstudio
pivotcycles
bsnorrell
djibnet
theimpactcollection
traumahealinginstitute
pharmaguides
orlynaukijazdy
novonordisk-trials
hackyourfuture
akastars
rustoleum
digigladd
jimmypatterson
cornettedesaintcyr
purafil
plian
aev
itbrno
alountupa
xmgjj
edskes
novisign
zglepe
jcvalve
rkcl
caico
daltonsbusiness
bistromc
fsd100
gingersparrots
furth
123calendars
ags
postoccupato
kripsolpumpfiltersuppliersindubai
afterschoolafrica
credor
alivealone
finreport
noshthetruck
hollandimmocenter
katholische-kirche
placerrobotics
mobiusltd
safeshop
csbgroup
chef-tab
abegailzamora
italiasw
zimertop
wuxizk
languageofcaring
themcom
rockdalecitizen
localtoday
contractors
actunautique
kaabreathnanlorera
real-tech
itancia
rmtl
cibf
azrausterun
rasta-vechta
bilei
dashcams
pillsonline12
tribtotalmedia
bamf
plasma-air
swimmingpooltilessuppliersindubai
caridealer
21bella
elipso
zenid
marketingoptimizer
topcheapjerseys
onlinemarketingproperty
lxb
hotel-express
cap-lore
lifeshield
meridithbaer
osmoz
livingonthecotedazur
ivanatora
evea
graffbaycity
oliviawyles
nirrh
ytvastqa
trsgroup
checkiton
bellagroupinc
junzic
birminghambeheard
logview
macellochicago
adspy
eclipticbrewing
woodmasterwoodworks
hajnowka
codelitt
clenkingfreesin
thehappyjetlagger
maamaata
jongund
968944
xlb3
chateaudescharmes
healthwithflavon
ziyikuobao
sdgjcg
netfisher
trattar
6675004
mh-ssc
chatrazvrat
inovu
upsu
hcgdietdrops
ttj-ap-bld
dialogone
dgd-online
lavidanomade
foundationarts
orhunajans
wildtomorrowfund
trusted-invest
flechabus
cnbb
appletizer
3hold
legroupemaurice
misplaced
huizhong668
hecht-kontaktlinsen
kubstu
bszy88
blogdajulianaparisi
liechtensteincollections
tanjongkeramat
superbrokers
spiderspider
drivcat
chhattisgarh
garthmortensen
forex-broker
hafele
lazarusalliance
aty
liboauth
benshoemate
montagueworkshop
6377yh88885
hepa
csggzy
idcn
hextra
indianwank
par-ky
intuitivecreativity
schgroup
0011cartoons
ayws
carandbag
omirussia
eo
rthree
zdamyto
loco-way2themes
ozanilansitesi21
uacyberhelp
zerowasteaustria
hjemmebryggeren
kasaoka-kankou
wptw
spaceshelter
hg909
sonqb
mhsrv
capoc
famicase
b33400
homeworkmarket
fukuyama
fiercehealthpayer
newcomweb
fbo
avantgarde
gal-ed
ellenblogs
photolitto
lodge
visitwollombi
193
kreatura
vtaky
universodeanimes
vixiagency
ipcc-wg2
etnaland
jams
yy001gs
pictlink
einfachbewusst
ktbzx
ryjiaoyu
artecubano
nationalhumanservices
dingaeld
sociocast
healthy-heart
observatorioecommerce
ekonomiaspoleczna
hdc
financialgig
platzprojekt
v6583
sanlilonggu
incontinenceproducts
metaimmo
nigelholmes
micaraa
mp3factory
granit-parts
cfhs
dsiflashcard
consgirfaiga
sheabodyworks
istjamshedpur
cd-cxzm
jabcs
spongekids
hindivideo
cbiletom
inbisa
ntdc
forextips
spotsee
axs
luckyonekit
nlkdom
its-trummer
communityspeedwatch
te4
wvfest
ppcdn
viacep
planetarydesign
cultura24
nicedowns
nidec-shimpo
photochrome
chinaehs
e3pa
zikstate
saunaproject
ipc-global
aopa
botanic
vidmeup
taptouche
collyerbristow
jobkadrov
tetemarche
scholarlyexchange
joshuaseiden
dresdnersportclub
quyuanjingfu
qmusic
leuchtturm
zzj237
genesis-skeleton
mac-and-i
720love
hzi25
bayuse
ksi-metall
marktmedia
puokstesinternetu
kyiv
agrotek
cwsts
flounder
leavingcomfort
vagaa
coupangplay
redhat
dupagechildrens
kraffthastfoder
skogmus
ier
1line
jjntv
molmed
summeracademy
kapiert
ethirteen
gomemphis
ijcai-15
sloweye
ritologbapect
proxianimaux
swisssafety
bb4cd6
web4voip
siicex
delphibasics
1000hz
helphostvosivara
soph
nerdy-apps
digitalpainting
custompcreview
dvd
sainsburys-live-well-for-less
nexyzgroup
snavi
nationalscholastic
mesto-blatna
gsgroup
swahilipothub
nyk-systems
bluewolf-japan
adonis-hotels-residences
ssrd
010123456
dlsh
bao
defensivedriving
dipotihiphe
hongyuansheng
crewseekers
natuurwijs
secretcityrecords
heikomamerow
adscellar
loop
tlatet
mabelkatz
ride4kids
odvod
dcl
gcd
armae
dianesmarketkitchen
99digital
404404
guavus
lingpetovojru
kosmek
obrase
simplified-odb
sporkrono-inscription
dlwb
118credit
kweb
edualter
myeternalwellness
asl
fsguke
colinshope
ymcafit
disneyartonmain
ctcapitolreport
vidbeo
auto4export
suppline
powerwatch
bbkl
gogogadgets
stjohnsriverkeeper
newnotizie
printempsdeseptembre
allthingscarnivore
schaftanfertigung
sozo
villa-bella
choisiravecsoin
business-cool
vigoafrica
vinarskyfond
lended
lomasdecampoamor
5ixsw
westnordost
fffenterprises
overmorgen
kaoler
kacangin
commeet
gdcxrq
abibois
360openhouse
inkit
thenewcircle
dji-store
clazyu
gestionandohijos
8024445
act360
cspisawesome
visitkasterlee
yeyux
aphelionart
urcb
silaexpert
prepaid24
innos
philips-da
bowspirit-kids
discoverdistilleries
sdcllp
dengisrazy
accessicart
gearandtransmission
newsoft
apsaraofindia
grabit
easy-designs
cypxcy
165
online–new-zealand
europeanvolunteercentre
globalinternet
desiaunty
hot-pathos
kia
immigrantwelcomecenter
notizzia
mudhole
austinmichael
igenius
justinmichaelwilliams
galaxycine
trafficrz
kirkscubagear
renew-fukui
my-picture
bitandbauble
rapidhomedirect
ffdistantworlds
cbzvmpmh
7269c
aboutgimotility
carlstargroup
opera
nice1688
basicsoapmaking
guba
christiannaths
uprock
saadatrent
animalresearch
juwiss
3d5041
bestflooringsolution
designdevta
keelcasublotisseo
affetta
srbank
rialze
laoy8
enterpriseleague
contemporarymediagrp
vivat-shop
drserver
ntouchdigital
deltadentalaz
wibnet
treasurehunt4kids
mianbanyi
kruninslugposrare
manlecab
gmprvolg
maxfashion
rapid-unlock-dispatch
12
necspenecmetu
jagpcp
ruralco
naganoken-jabill
jouelestours
equidox
jenontheroad
internetmedyasi
akita-nairiku
serviceeu
azaq
gsdcgroup
farticulate
egalo
olgorestfistining
pozhilov
hip-evenementen
xyiexp
retirenet
maisondelabd
connectzeebrugge
roadprojects
ehcf
azol
dockyardsocial
foghornconsulting
gingerandivory
taxandlegal
adac-weser-ems
kdk0r
422408
dotkurd
gigtown
schulebewegt
103
taxiwaltononthames
kasf
hospitalrun
braekling
nordanstig
roojoom
localboilerquotes
davyandtracy
northeastwebdesigner
republic-online
beautyredefined
losmundosdebrana
jcidm
halfull
emilylightly
jordan-wright
tianyishuju
vperfumes
buy-tw-likes
open-rmf
miraclebrand
appraisersforum
paibrasengala
worldwaterforum7
explorecml
wetterklima
zeebe
lovemama
networkpro
dlair
foodlz
ko
kbanker
karlshakur
chauffagiste-viessmann
lancdn
transformationacademy
aspapel
coffeefitkitchen
clownswithoutborders
boralna
childrenaction
cdhi
bruce-wayne-photography
msk-kanat
nektansites
centrotap
nyguild
hackneyshed
cameronhighlandsinfo
beame
newskysecurity
mab-france
gro-bels
hiltmann
nmsa
manyspins
sylhwlkj
choicely
platcarluticel
cheesyplace
worldteahouse
sdivsbdc
enliaticomca
cannabisverifications
y73
virtic24
elmundo
nycoproducts
digitalsikkerhed
wiwi-webdesign
jackstromberg
congngheducphat
worldclock
mefda
ccwales
cqjunyu
fortemag
broto
firstbridgeconsulting
neverbland
159
comm-360
lapommeduquebec
allstarcharts
placesion
phoenixhealthfund
ethic-intelligence
shopius
interior
kinovod091122
baltische-residenzen
wakingthered
guzei
neste
ruling
sindsnu
648478
jensen-gmbh
logosatlanta
isas
xpunkriotx
7luw
farmstrong
kbsavings
autoflame
laziodisu
bikemagazine
mozilla-nl
europeanmoocs
bhaskarlive
hrappka
saint-medard-en-jalles
freixenet
glessnerhouse
visuallinkit
ctxpro
kienlua
smallbusinessbranding
chinapr
zttoten
gentos
gourministeriet
yonka
cycligent
plumeria
202
cloudiamo
oldmilltoronto
esca-shika
seo-labor
debanier
kursifant
ikesaki
futureharvest
slobrew
229322
mindcrawl
mcs
redvalentino
cyff
shootingstarzshopette
samexhibit
aresports
klantenserviceondersteuning
restaurant-kamena
abmsnow
infosrl
canaryfly
uwv5
mongolpost
ceska-kamenice
kokusyoku
k7
wcribma
localcouncils
dataprotection
digi-media
katja-maiworm
schuldnerberatung-nrw
shura
xkumah
avalis
dior
polyfilm
aimjournal
exactaudiocopy
zeffirellis
retoambiental
thefreewoman
eduardpunset
computerelite
minthisresort
olivetti
glutercepdiora
ffmgp
ouvrir-un-plan-epargne-retraite
andrewchen
pittsburghhockeynow
tpshoma
aictechnologies
webdesign-luensmann
metc
cg
newtro
albalactanciamaterna
sipsych
techgirl
means
nasaharvest
whmcsx
435mag
baby-moon
icon
selbstauskunft-anfordern
newspark
snmm59
usapeopledata
sdwfzlhg
137
conexbanninger
fredeo
ofd-karlsruhe
theohiopressnetwork
vemployed
avisosdeocasion
daphnislabs
mala123
suv
sportkp
gunspatrol
quillit
foodnouveau
hanoilug
pamirwebhost
minnesotaumc
hack2skill
nailit
csa
westgis
flipdesk
logweb
concourse
themarketingco
paridel
thebarbellphysio
temtactics
maxirent
haikou
schmitt-graphiste
naturnah-moebel
modernliving
n2local
jayex
diekreditkarte
gadlt
fruvous
ayannaspa
accobrands
cineca
mbg-hannover
afterpixel
ninocity
inmotiv
softhuissier
sumieartistsofcanada
bio-portal
partad
thruk
tienda-online
dobramine
site-internet-bordeaux
nhadatcantho
parovstelar
sienn
pumpmonbowfcurfu
combank
unionenaturistisiciliani
twitspam
psx-scene
triforce-princess
pgajlg
parsijoo
coggraphics
webcraft
digitalpha
supco
kcnawatch
greenburghny
d76yea
425709
amgen
itb
lduva
165
akademkniga
instaemail
phpinfofile
columbiacollege
codepact
inginonline
sciartmagazine
grafield-agentur
monkeysfightingrobots
quicwg
laura-wright
erosofka
beyondthenet
phonerates
everettsd
ymcasatx
sigurawater
loveland
kinderoefentherapie
careercentre
avjingdong
zingle
tokyo-hospital
xn--sovevrelse-h6a
atletika
beautypoint
misono-ya
trailertrashtattoo
datadog
fubu
molcn
merrick
satlpec
amanchanpa
folens
mucc
agt-ltd
thefrequency
make-me-up
trackinfo
breezecn
pharmap
vesti92
wgkd
schmidlin
52qp2
tabletennista
csemc
karlsruhe-werbeagentur
