You may have heard that acquiring a new customer can cost you up to 10 times more than the cost of retaining an existing one, but an unorganized customer database can lead to poorly allocated advertising dollars. I know databases aren’t the sexy end of marketing, but I’m a second-generation database marketing geek — and all the strategic decision making and analytics that comes out these babies gets me excited.
An accurate, detailed database, or customer relationship management software (CRM), allows businesses to target advertisements to a specific demographic within their existing customer base. The more details that are captured, the more specifically targeted and relevant the offers will be, increasing the chance of people opening and actually reading an advertisement!
Collecting emails, phone numbers and addresses of all current and potential customers will keep an active and well-researched line of communication available for marketing initiatives.
Possibly my favourite part about of being a strategist, though, is examining the traits shared by loyal customers and instructing sales teams, adjusting services, and planning email campaigns to meet their specific needs. I told you I was a geek!
Finding all of the customers who purchased a certain product is as simple as a few clicks, and ensures that a marketing campaign for a new version or accessory is reaching pre-motivated buyers. Searching for specific customer traits before committing to a certain tone or highlighted sale will ultimately make campaigns more personalised and relevant.