Sunday, August 20, 2006

Demystify Database Marketing

Let’s forget the technical jargon and take a look at what database marketing really is and how you can use it, in plain, understandable English. Database marketing is a marketing and sales system that gathers, refines, and utilizes information so that you can make informed decisions regarding marketing and sales communications.

How To Use Database Marketing to Grow Your Business?

1. Identify your best customers’ common characteristics and then target your next program to those prospects with similar characteristics.

2. Learn which market segments bring you the most revenue and which ones bring you the highest average revenue. These might be very different industries, in which case you would want to market differently to each one.

3. Find out what types of prospects respond to which promotions so you can decide where to spend your advertising and marketing dollars the next time.

4. Calculate the average lifetime value of your customers. You can use this information to find out which customers aren’t living up to their potential and devise marketing and sales programs to nudge them to buy more.

5. Reward your most frequent buyers and the buyers that bring you the highest revenue

Want to leverage your customer database to grow sales profitably? Let us show you how.

Michael Epstein
MSE Marketing Systems
michael@msemarketingsystems.com

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