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Knowledge:
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Companies often start a database marketing campaign with the noble goal of leveraging existing customer and prospect data to drive cross-selling, up-selling and new sales. Then, instead of utilizing techniques such as market segmentation, they simply dust off the old multi-purpose database of disparate customer, prospect and partner records. But for many companies, this database marketing dream can turn into a nightmare. Scrubbing the data and bringing it up-to-date can be time consuming and expensive when you’re trying to execute profitable database marketing campaigns. So, are you wasting time and money trying to clean up your less-than-fresh databases? Should you throw out all the records and start over? The answer is no—there are many live leads trapped in this graveyard. You just have to be smart and focused when searching for them. Use Better Market Segmentation Techniques for Lean-and-Mean Lead GenerationInstead of a grand-scale clean-up initiative, focus your resources much more profitably. Use market segmentation to zoom in on the best names instead of broadcasting to all names. Our Relational Market Segmentation article explains how segments, or “cubes,” can be tested to improve campaign results by as much as 50%, while cutting costs by up to 35%. With market segmentation testing techniques, you can avoid throwing good money at sanitized lists of bad names--and get the most from your database marketing efforts. |
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