10 Database Marketing Tips You Need to Know
The importance of customer database in marketing should never be undervalued!
They help you keep track of all of your customer information while tracking their sales and identifying which customers are the most profitable. But these resources must be used the right way to get the most out of them.
As there still seems to be confusion around the most efficient ways of using these, we’ve compiled our 10 favourite tips for database management systems, aka DBMS.
1. Let your databases flow: use the right format
In order for you to properly mine your databases, you need to have them in the proper format. Consider what kind of software tools your company uses. Try to choose a format that can easily be transmitted back and forth between the programs that you use.
This way, everyone at your company who needs to work with your databases can do so easily, no matter what kind of hardware they are using.
2. Segment your databases properly
Not every contact in a database is equal. It is important to sort the contacts in your databases by how far along in the sales funnel they are so that you can target them the right way.
You can also choose other categories to sort your prospects by, such as their lead source or what kind of socioeconomic bracket they are in.
3. Stay relevant: tailor your correspondence
Once you have separated contacts in your databases based on what kind of prospect they are, you then need to tailor your correspondence to each group.
This will help you identify the particular needs of each niche market.
4. Assign Salespeople To Prospects Close To Buying
Another great tip is to determine which prospects are furthest in the sales cycle and assign them to a salesperson. Those likely to be buying soon will want to get in touch with a real person who can help advise them on what is right for their needs.
This should be a regular process that is done frequently. It also provides you with the opportunity to get more hard data on the close rate of leads from your databases, and which salespeople are doing the best job of closing once they get these leads.
You can use all this information to create training opportunities for your salespeople.
5. Stay In Touch
It might take a few weeks or even a few months’ worth of correspondence before a prospect in your database decides to make a buying decision. Don’t get discouraged! Stay in touch periodically and remind them of how much value your organisation can bring them.
6. The importance of DBMS in business: track your results
At any point, you must have a broad sense of whether or not your database strategies are working. Using metrics about close rates and contact frequency can help you get a better picture of your success.
7. Replenish Your Databases
Once you have a sufficient list of contacts, you may want to shift your focus solely onto following up with these leads. However, you always need to have a way to keep adding more new prospects to your database to sustain a full sales funnel.
Neglecting this concept could put the success of your entire marketing campaign in jeopardy. Make sure that you block out some time to add more names to your database whenever possible.
8. Collect The Right Information
It is imperative that your databases have the right details. A database should at least have names and email addresses. However, the more contact information that you can get from people in your databases, the better these will serve you.
Update 2018: You will also want to comply with the new GDPR Regulations that started last May when you are are gathering data.
Having more types of contact information for your prospective customers will also allow you to broaden your marketing efforts. This will make it so much easier for you to engage prospects over a larger variety of channels.
9. Use the right database management tools
There are plenty of tools that will give you the ability to edit, delete, and export database information. These programs can make it much easier to work with database contact information.
Try to train at least one or two people at your company in the use of these tools, so that they will know what to do and how to edit the databases when necessary. That way, if someone is sick or working from a different location, you can still keep your workflow running smoothly.
10. Don’t Forget About Existing Customers
New leads aren’t the only ones that you should have a database for. Your existing customers are a great source for repeat business. Keep track of these customers and be sure to reach out to show your appreciation for their business from time to time.
This is one of the most important of these 10 Tips we’ve put together for you. Customer retention is crucial. According to numbers from Bain & Company published by the Harvard Business School, just a 5% increase in customer retention can improve profitability by as much as 95%.
Follow our 10 favorite tips for database management systems and take your company’s use of DBMS to a new level.