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How and why to exploit your data

Your database is more than just a list of names and addresses. It’s the foundation stone of a business. It’s how you retain would-be customers, convert them into actual customers, and engage with them as future customers. It’s also a means to get your existing customers to bring you more customers from among their friends, family and contacts.

So… having a database is the first and probably most important step to sustaining current and future sales, growth and prosperity.

It’s the information that the database contains that is the key to this future success.

Your database might, for example, contain the age profile of your contacts and their gender… which would be important if, for instance, your target market was young mums or pensioners.

The purchase history of contacts will tell you which products they prefer and how much they tend to spend, and whether they can be cross-sold or up-sold other products as well/instead.

And think, too, abut including where these people are physically. Are they nearby and therefore easy and cheap to visit and deliver to, or are they at the other end of the country… which raises the question: are they actually worth the cost of looking after them?

There’s lots of other information that can be built into the database about your contacts and prospects, which will provide valuable insights that can be analysed and channelled into targeted – even “personalised” – marketing campaigns.

The “closer” you can get and the more knowledgeable you are about customers and prospects, the more they are likely to buy from you now and into the future.

Remember the first rule of business: Knowledge is profit!

 

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