Nine Deadly Sins in Database Marketing October 25, 2006
Posted by Tim Raines in : analysis, lists , add a commentDeveloping and making use of your own in-house database of prospects and customers can be very lucrative. Which means that if it was easy, everyone would be doing it—and doing it well. Of course, we know that’s not the case.
Courtesy of Chief Marketer, here’s a quick round-up of Arthur Hughes’s session last week at DMA06 in San Francisco on the Nine Deadly Mistakes in Database Marketing:
- Lack of a marketing strategy
- A focus on price instead of service
- Failure to use tests and controls
- Lack of a segment strategy
- Failure to use the web
- Building the database inhouse
- Treating all customers alike
- Failure to develop a retention program
- Lack of a foreful leader.
Ignore these mistakes and your database success will go away.
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Direct Marketing On The Rise October 23, 2006
Posted by Tim Raines in : news , add a commentAccording to Direct Marketing Association President & CEO, John A. Greco Jr., the direct marketing industry’s sales will reach $1.939 trillion, an increase of 7.4% over last year. “Direct marketing-driven sales now make up 10.3% of the GDP.”
Is it time to get your piece of the pie?
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Build Your Own Prospecting List October 5, 2006
Posted by Tim Raines in : lists , add a commentSometimes asking for a sale right away isn’t the best thing you can do. Often, your prospects need more information or don’t have a need for your product or service right now. But if they’re interested, they’re certainly more valuable as a prospect than anyone on a list you’re planning to rent.
Rather than only asking for the sale, you should include a “maybe” answer. In fact, you’d be wise to include three options:
- Yes! I’m ready to buy!
- Maybe. Please send me more information.
- No. I’d prefer not to receive any more contact from your company.
Why allow your prospects the third option? Having a suppress list can make a lot of sense. First, you’re letting prospects know that you value their preferences and their privacy. Second, why spend the money to contact people who don’t want to hear from you? Marketing to customers and prospects is hard enough. Why make your job even more difficult.
Why allow your prospects to say “maybe” when you may be able to convince them to say “yes”? There are a million reasons why a prospect might not be ready to buy. Sure, you could pressure a small percentage of this group to buy now. But the ones who don’t will likely leave the table with a bad taste in their mouth. By getting their permission make contact again in the future, you’re in effect creating your own prospecting list—perhaps the most targeted and lowest-cost sales leads you’ll ever get your hands on.
This prospecting list will truly become one of the most valuable assets your firm owns.
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