Many companies have accumulated a wealth of data… but have no idea what to do with it.
If you thought something was valuable wouldn’t you nurture and manage it effectively? Ninety-five per cent of companies believe their database is important, but only 35% of them have comprehensive database management strategies in place.1
Businesses place great value on accumulating client data, but are at a loss as to what to do with it. They have forgotten the golden rule of marketing: returning customers are more valuable than potential customers. You should use your client database to cultivate existing clients, until they blossom and grow into a significant chunk of your business.
Make your database earn its keep
If you’re trying to increase revenue you must first consider if you are really using your current customer database prudently to maximise selling opportunities.
Your database is a powerful marketing tool. It can show you real time customer behaviour, is a direct line of communication with your customers, gives helpful insights, and can assist in targeted marketing.
You can use it to deliver the right message at the right time to the right customer. Is your database reaching its full potential, or mouldering away on some forgotten hard drive?
Out with the old, in with the relevant
In order for your data to be useful you should give it a spring clean, just as you do your home. Items that are unusable, out of date or irrelevant should be consigned to the dumpster.
Read this article on how to manage your database that gives useful information on updating.
Then once your database is clean, there are techniques to optimise the customer data within it.
Enter segmentation and marketing automation! Segment your database so that customers can receive personal and targeted information, promotions and communication relevant to them.
Use a marketing automation tool to help you better target customers, save time, maintain consistent communication, nurture leads and build detailed customer profiles. To learn more about segmentation and marketing automation take a look at these articles:
What happens after you optimise your database?
Once you begin to optimise your database, you will see better email results such as higher opens and clicks, improved deliverability and lower unsubscribes.
But if you’re heading into this looking for instant results, you need to alter your mindset. Some results you will see instantly, others will be a slow burn.
The customer’s experience and journey with your brand will also improve, leading to increased trust, loyalty and a healthier long-term relationship.
Don’t delay, start your transformational journey today.
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