Ηere is an interview with Brian Fey, who has worked as a Market Research Analyst, a Database & Direct Agency Executive, an Independent Database Marketing Consultant, a Marketing Services Entrepreneur and a CRM Director.
Below you can find some excerpts I thought that were very interesting.
Q. What do you view as the top five money-making benefits associated with database marketing?
- Improved Customer Understanding (better planning of marketing investment)
- Expense Reduction/Operational Efficiency (marketing & sales)
- Revenue Improvement/Better Performance (marketing & sales)
- Greater Visibility of Business Performance (shared vision & understanding)
- Greater Confidence & Predictability (confidence)
Few top points I thought might really give some lights on Database Marketing:
- TRENDS & FUTURE: Increased competition and the shift to a buyer driven (i.e. social) marketing environment are forcing many of the companies who haven’t embraced Database Marketing (and CRM) to rethink their traditional approach & transform their marketing and sales operations.
Q. What are the symptoms of dysfunctional databases or poorly implemented CRM initiatives?
Lack of accountability (no results tracking)or worse, lack of consensus (where the results are tracked, but not everyone believes in the numbers, or uses the information to plan investment).
Q. What advice would you give to marketers who see the potential for database marketing but can’t seem to get it off the ground?
A. Find some low hanging fruit and proactively point-out opportunities in your organization that you know are “ripe” for a database marketing solution. Document customer acquisition costs, customer churn rates or customer satisfaction levels if at all possible.
Competitive case studies are also a great place to start. Look for success stories from your competitors using database marketing.
Finally, consider engaging a consultant to come in and give you an objective point-of-view on your operation. People inside the organization may be too close to the problem or lack credibility.
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