Driving Direct Marketing Success Through Data

It's been a while since we did a "soapbox" post . . . so here we go!

It occurred to us as we were recently finalizing a client proposal that it's been too long since we have discussed the importance of the annual look at your data assets. It's true for most companies. In fact, the client that we're currently assisting has been purchasing data from one of the large compilers for many years, and called us in because his sales team was not getting the information that they needed to effectively sell to their prospects. Does this sound familiar? While the data that they are currently buying is updated frequently, there are "holes" in it. And those "holes" make the difference between either getting the appointment and making the sale or not getting through to talk to anyone at all.

After doing some research, we were able to find some excellent data that not only augments what the company is currently using, but also finally gives the sales force what they need to be successful. With the consistent flow of data compilers, specialty lists and modelers into the marketplace, we found some "aha's" as we were conducting our research. And we do this sort of research all of the time! There are some excellent options out there, no matter what industry you are in, that can really drive marketing and sales success for your company. And if you don't stay on top of it, you can easily trap yourself in using what is familiar and not as effective because it takes some time to do the research.

We argue that the time spent here is well worth it! With a little research, you can determine the right sources of data that will identify exactly the prospect that you are trying to bring on, what they're spending, who they're spending it with, what their propensity is to buy from you and what their exact needs are today. If you don't want to do the research yourself, call a consultant in (like RRW) to do it for you. It just doesn't make financial sense not to do it. In addition, you can become an instant hero to your sales team, your finance team and your leadership team.

It really is this simple to direct market more intelligently -- and the rewards that you will reap will prove it. If you're interested in how to get started in looking at your data assets, you'll be happy to know that we've written a Data Check List on this very subject. Take a look at it -- then get out there and find the data that will make you a Direct Marketing Superhero! You deserve it!

Using Intelligence to Build Customer Loyalty

I love reading stories about how various industries are using database management and analytics to keep their customers satisfied, build loyalty and grow profits.

Today's "CRM News" published an article titled: Customer loyalty, profitability drive BI consolidation at Fairmont. It provides a case study on how the Fairmont Hotel chain maximized their marketing database investment by incorporating intelligent analytics and by a stringent data cleansing and maintentance routine.

Additionally, the article talks about how the Fairmont successfully implemented a customer segmentation strategy. "Marketing wanted to be able to enhance the customer experience by segmenting the customer base and ultimately driving behavior and additional revenue based on what it already knows about its guests."

In addition to the heavy reliance on analytics, what I found truly encouraging is how Fairmont solicited sponsorship from all aspects of their organization--from top-level execs, to marketing to IT. I'm sure that this team approach helped ensure a successful project.

From the article, quoting Jeffrey Berry, Director of Database Marketing for the Fairmont: "The biggest thing we've learned -- because there is a heavy technology spin and because the day to day is focused on the minutia of technology -- it's really important to make sure the business objectives are clearly established and outlined and you check against them," Berry said. "You don't want to get mired in the details so you miss the big picture. For me that's the key lesson."

Lesson learned!