August 10, 2015
OK – we had you going there for a minute. Of course we don’t agree with the title of this blog, but here are 7 tongue-in-cheek reasons why some poor fool might choose not to keep their database as the source of their business profit and growth strategy.
1. You have way too many customers already
Too many customers? We should all be so lucky! Unless you’re operating in a very niche market, this is not something you’re likely to hear from many Marketing Managers or Managing Directors.
Even when things are going well, all businesses should be looking to find new customers, generate more sales, increase ROI, boost response rates and improve brand visibility in their sectors. Clean, fresh and targeted data is the key.
2. Business Growth is Boring – You like to keep things small
Your database might contain 1,000 existing customers and highly-targeted prospects. And you’re getting some great results out of it.
That’s great! But imagine the results you could get if you analysed the common traits of these customers, and added brand new prospects which match the same criteria…
A good data specialist can analyse your database and supply new sales leads with profiles similar to those of your best customers. There are undoubtedly a lot of untapped markets you’re currently missing.
3. A leaky bucket is part of business – Right?
If you’re not actively seeking new customers, you’re actually moving backwards. Retaining existing customers is a huge part of your business, but you can’t grow without new ones. You cannot stop some attrition, but you can put the brakes on it and extend the client lifecyle through great engaging marketing.
And that means seeking ways to improve your operations, from cleaning and extending your CRM database to improving sales techniques.
4. You think ignorance is bliss
You may know your database is in great shape. Alternatively you may accept that it’s a little unhealthy. But in most cases, the true quality of your existing database is often unknown.
Many clients are shocked when we show them what’s right under their noses. You can reveal the untapped potential within your own database and perform procedures that can increase return on investment; you might just need a little help.
5. You’re happy marketing to every man and his dog
“Get a list of 5,000,000 B2B email addresses for £50!” Not only will this risk your business authenticity and brand, but it will also most likely come from at best a dubious source. Data protection is a paramount concern in the direct marketing industry – risk of data loss or use of unauthorised data is simply not an option
6. You think data management and update costs are too high.
All to often the management and control of databases falls to the intern or marketing officer in your organisation. inexperience in data management will not only lead to error but will not allow for correct analysis. The true cost of NOT keeping on top of your database is the loss of business, attrition of clients and increased spend on recruiting new clients.
7. You like spending lots of your marketing budget on unqualified leads or lapsed clients
Not having a true handle on your data and the message to send to each segment of data means that you are printing, emailing, contacting and posting to clients that are either not there, or have moved on. Gone-Aways, Movers, Deceased, non recent spenders. If you don’t update your data, then you are communicating in absentia. What a waste!
If you do want to review your data strategy and update your marketing data, please get in touch. romax.co.uk
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