Getting Value from your Database
You have a marketing database, but would like to get more value from it.
At its best, database marketing enables you to make prospects and customers the most persuasive offer possible, based on your knowledge of them as individual people. An offer that's likely to be taken up, rather than not, and which encourages customer retention builds your brand at the same time.
Does your customer database enable you to recognise what it will take to convert your prospects to customers, and your customers to advocates?
Can you picture each and every customer as an individual human-being, understand their wants and needs and create that irresistible offer?
Will your CRM database let you analyse each campaign, turning data into real information, enabling you to assess performance and refine strategy?
At its best, data marketing should do all of these things.
For example, in the real-life case study below, we have tracked customer spend over a period of 6 months.
As you can see, analysis reveals just 11% of customers account for roughly 50% of revenue. No real surprises there, but the real power is in the detail, the detail of who they are and where they live, what they bought, as well as when and at what time they shopped.
This kind of knowledge enabled us to mail them with a fully personalised spend target, encouraging them to spend more in return for a reward.
The result? Incremental revenue of £300,000: an immediate return on investment of 400%.
If you would like more information on how we can help your business, feel free to contact us.