database management
Post on 16-Nov-2014
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The Basics
What it is
What it means
What it can do
The alternatives of NOT doing it (or having a plan)
What Database Management is
It is simply this:
Using your customer and prospect data that in an efficient, consistent and economically responsible way
to promote your products and services
First Things First…
If Database Management is not an ongoing part of your culture, you
are misusing one of the single biggest, most controllable assets
you have!
DO YOU CLEAN AND UPDATE YOUR DATA?
Do you do the following:
Match your records to the postal records to insure higher delivery?
Cass Certify your data, insuring higher delivery
Ever heard of the famous song…
… “ Return to sender, address unknown”
Written and sung by Elvis Presley
A big indication of wasteful spending
Look around: if you’re mailing, you’ve got a bunch of that stuff laying around!
What Database Management Means…
It means you have an understanding of this as an ASSET, and action means more than words
You have outlined a plan to use your data, acquire it, build on it and eliminate wasteful spending
What it Means cont…
When it is done right, it considers the following areas:
Understanding your internal capabilities: Sales, office, points of contact and collection
Understanding your resources: Who is most qualified to collect it, store it, use it and keep it clean
What it Means cont…
Contact Point Management:
Collection points:○ Everywhere possible throughout your
company
Collection techniques○ Business cards, counter displays, CRM
systems
What it means cont…
Storage techniques:○ Is it in Outlook?○ A CRM system of some sort○ Disconnected computers and laptops?
Usage technologies:○ Mailing○ Emailing○ Newsletters
What it CAN do…
First and foremost it can…
Help to focus your sales, efforts and investment in ONLY the areas that
matter!
What it can do cont…
Benefit #1:
Assuming you believe the sales force has limitations, it can automatically and consistently tell your story and what is unique about your products
and services.
What it can do cont…
Benefit #2:
It can focus your efforts on ONLY those areas that are most likely to want
what you sell or service.
What it can do cont…
Benefit #3:
Done right, it allows for the efficient use of your existing data sources (what you’re already paying for), and get
the most out of them.
What it can do cont…
Benefit #4:
It will tell you with accuracy what your “PENETRATION INDEX” is, or YOUR OVERALL PENETRATION into your
total opportunity
This allows for a highly targeted approach to those that NEED to hear your story!
The Alternatives of NOT doing it! Wasted marketing spend by not
utilizing your resources the right way
Not consistently following up on the right group of customers or prospects
Leaving to chance the management of a key asset of your company
The Alternatives cont…
Letting your front lines continue to plan and execute strategy
Allowing randomness to systems and processes
Blurs your true numbers and affects your understand of true Return on Investment
What’s Needed
Commit to a “culture of discipline” and make the capture and use of your data a priority
Understand the techniques to collect, store and use it.
Commit to a CRM system of some sort
What’s needed cont…
Understand your internal capabilities (people, process, systems and technologies)
Form a plan to 1) Get educated on the possibilities, 2) Map the plan with timelines and milestones to achieve your goals
Be Forward Thinking Understand the automation capabilities to
take the guesswork out of as many processes as possible
Understand where technology is, where it’s going, and the impact on your company
Commit a few hours each week to talk about it!
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