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Article Check - Small Business Marketing Solution - Is Database Marketing Right For You
Picture the scene. You're sitting in a doctor's waiting room, flicking through the pages of a magazine when you suddenly start reading an ad. Why? What drew your attention to that particular ad? An attention grabbing headline, that's what.Think about how you 'read' magazines. What do you look at first? My bet is it's the headlines. If the headline grabs you, you'll scan the rest of the text to see if there's anything more that grabs you. If there is, you'll read t
Communication. Do you know their name and address? Can you acquire their name and address? How about email address? Can you acquire it?
Acquisition Method. Do you know how they heard about your company in the first place? Can you track and quantify how much it cost your to acquire that customer?
Decision Maker. Does the person who actually buys from you control the purchasing decision? If you sell to consumers, the answer
So, you finally had that job interview. You know the one. The interview you tried so hard to land. The interview for which you prepared so hard? The interview you know you nailed? It's all over. You can sit back, relax, and wait for the phone to ring with a job offer. Right? Wrong!Winning a job interview is the first part of the battle. Performing well in the interview is the second part of the battle. Now comes the third part of the battle: The follow-up c
Of course, their order processing machines are bipedal, with organic computers known as brains and eyes in lieu of optical scanners. Database marketing essentially seeks to emulate what the baristas at the Coffee House do naturally.
So, how can you know if your company is a good candidate for database marketing? There are three essential questions to ask:
1. Do you have best customers? Do you possess a group of customers that clearly drive more profits--not gross sales, remember, but profits—to your bottom line?
2. Can you identify those customers?
3. Can you reach those customers? Can you communicate with them, individually, and treat them special?
It is extremely valuable to you, then, to answer the above three questions…after you answer this one:
Are you already a successful database marketer?
Many sole proprietors already are. So are thousands of sales reps. They are familiar with their customers, they understand their preferences. If they have under a hundred customers, maybe even fewer than 500, they know their names and their likes and dislikes and know which ones contribute the most to their pocketbook.
But once a business achieves a certain size it becomes impossible for any one person to know all the customers. This is where the aid of the computer comes in. But, we don’t want to discuss tactics in this article. Rather, let’s simply focus on whether or not your company is a candidate for a database marketing program. And that means we need to devise some questions that help us answer each of 1, 2 and 3 above.
Payment. Can you capture their individual financial contribution? Does everybody pay with cash or credit card, and then scoot out the door? Or do you invoice your customers?
Communication. Do you know their name and address? Can you acquire their name and address? How about email address? Can you acquire it?
Acquisition Method. Do you know how they heard about your company in the first place? Can you track and quantify how much it cost your to acquire that customer?
Decision Maker. Does the person who actually buys from you control the purchasing decision? If you sell to consumers, the answer i
Many people are familiar with two important financial statements, the Profit and Loss and the Balance Sheet. Fewer of them recognize the Statement of Cash Flows (also referred to as the Sources and Uses Statement). Additionally, while the physical layout of the statement has many variations, the general content is constant. It will be reviewed here. We will also discuss what makes up the statement, what it is used for and some limits.The Statement of Cash Flow
So, how can you know if your company is a good candidate for database marketing? There are three essential questions to ask:
1. Do you have best customers? Do you possess a group of customers that clearly drive more profits--not gross sales, remember, but profits—to your bottom line?
2. Can you identify those customers?
3. Can you reach those customers? Can you communicate with them, individually, and treat them special?
It is extremely valuable to you, then, to answer the above three questions…after you answer this one:
Are you already a successful database marketer?
Many sole proprietors already are. So are thousands of sales reps. They are familiar with their customers, they understand their preferences. If they have under a hundred customers, maybe even fewer than 500, they know their names and their likes and dislikes and know which ones contribute the most to their pocketbook.
But once a business achieves a certain size it becomes impossible for any one person to know all the customers. This is where the aid of the computer comes in. But, we don’t want to discuss tactics in this article. Rather, let’s simply focus on whether or not your company is a candidate for a database marketing program. And that means we need to devise some questions that help us answer each of 1, 2 and 3 above.
Payment. Can you capture their individual financial contribution? Does everybody pay with cash or credit card, and then scoot out the door? Or do you invoice your customers?
Communication. Do you know their name and address? Can you acquire their name and address? How about email address? Can you acquire it?
Acquisition Method. Do you know how they heard about your company in the first place? Can you track and quantify how much it cost your to acquire that customer?
Decision Maker. Does the person who actually buys from you control the purchasing decision? If you sell to consumers, the answer
Are you thinking about starting your own cleaning business? Running your own business offers many rewards and gives you the freedom of being your own boss. You can also achieve great personal satisfaction from starting with a just few cleaning clients and building a successful and thriving business. Starting a new business is demanding on your time, family and finances. So before getting too far into the process of setting up your new cleaning business, it's important to
It is extremely valuable to you, then, to answer the above three questions…after you answer this one:
Are you already a successful database marketer?
Many sole proprietors already are. So are thousands of sales reps. They are familiar with their customers, they understand their preferences. If they have under a hundred customers, maybe even fewer than 500, they know their names and their likes and dislikes and know which ones contribute the most to their pocketbook.
But once a business achieves a certain size it becomes impossible for any one person to know all the customers. This is where the aid of the computer comes in. But, we don’t want to discuss tactics in this article. Rather, let’s simply focus on whether or not your company is a candidate for a database marketing program. And that means we need to devise some questions that help us answer each of 1, 2 and 3 above.
Payment. Can you capture their individual financial contribution? Does everybody pay with cash or credit card, and then scoot out the door? Or do you invoice your customers?
Communication. Do you know their name and address? Can you acquire their name and address? How about email address? Can you acquire it?
Acquisition Method. Do you know how they heard about your company in the first place? Can you track and quantify how much it cost your to acquire that customer?
Decision Maker. Does the person who actually buys from you control the purchasing decision? If you sell to consumers, the answer
A landscape business is one business that you may want to be concerned with. In the spring, summer, and fall, you will have plenty of business, however, the winter gets very slow. You will need to plan what you can do to make sure that the business can grow and yet make it through the winter season. Some landscape businesses don’t have to worry about the winter because they aren’t really hit with a hard winter. That is something that you should think about, as well as ot
Payment. Can you capture their individual financial contribution? Does everybody pay with cash or credit card, and then scoot out the door? Or do you invoice your customers?
Communication. Do you know their name and address? Can you acquire their name and address? How about email address? Can you acquire it?
Acquisition Method. Do you know how they heard about your company in the first place? Can you track and quantify how much it cost your to acquire that customer?
Decision Maker. Does the person who actually buys from you control the purchasing decision? If you sell to consumers, the answer
"Gallup research over the past 30 years has shown that top producers in every role have substantially different talent profiles than average or poor producers in the same role." - "The Right Fit" - The Gallup Organization.Most managers agree that hiring the best person for the job is perhaps the most important step they will take in ensuring their team's long term success. In the pharmaceutical industry each company receives 500 resumes a day from those seeking a
Communication. Do you know their name and address? Can you acquire their name and address? How about email address? Can you acquire it?
Acquisition Method. Do you know how they heard about your company in the first place? Can you track and quantify how much it cost your to acquire that customer?
Decision Maker. Does the person who actually buys from you control the purchasing decision? If you sell to consumers, the answer is probably yes; but if you sell to businesses it can get a bit more complex. In some industries even finding let alone reaching the true decision maker can be tough but--that’s the person you need to market to for you to be effective.
OK, the above are entry-level questions to ask when evaluating if your small business is a candidate for a database marketing program. Again, the key advantage the application of a database marketing program affords as part of a small business marketing program is the ability to target best customers. You find those customers that send the most to your bottom line, and spend more of your advertising dollar on them.
If you can’t identify and communicate with a best customer segment, then it is probably best to look at a mass marketing program, where you essentially spend the same marketing promotional dollars on each prospect.
If you can identify these best customers, then you are ready to learn more about specific database marketing techniques.
Remember: Brand (who you are) + Package (your Face to the Customer) + People (customers and employees) = Marketing Success.
© 2006 Marketing Hawks
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