One of the keywords or buzzwords in todays Business World is “Data”. But what exactly does it mean and how does it apply to you?
According the the dictionary “Data” means:
“factual information (such as measurements or statistics) used as a basis for reasoning, discussion, or calculation”
The “Data” in your Database is of utmost importance to your Business … “All of the information you have on potential, current and past customers
Never underestimate the power of your Database. This data will form the basis for your Ideal Target Market or Ideal Customer. So now you identified have your Target Market, What Next?
Next: You need to clean down your database. An out of date database is costly, ineffective and leads to inaccurate reporting. Information needs to be accurate, correct and up to date. Although sorting through years of stagnant information isn’t exactly appealing, narrowing down your information to contact your customer bull’s eye is!
The first step is to research, for every potential customer/ company contained in your database, research if the company is still active, has it changed ownership? Has a new Managing Director been appointed? What sort of products are they selling? Have they relocated? Research where your customers hang out, what do they read and how can you reach them? Through websites and straight up calls to your clients you can gather a world of correct and up to date information.
- Information is key but opt for quality rather than quantity.
- Analyse your database and remove any leads that are outside of your target market and any duplicated or redundant records.
- Ensure you delete unused records.
- If you rely on staff to maintain your database familiarise yourself with it and monitor your staff to ensure that it is updated regularly and correctly.
Once you have your database updated with the correct audience and correct information you can start an efficient and effective campaign to entice your customers by:
- Enabling your Sales team to generate new leads matching your target market
- Your Marketing team can generate a campaign using the Data and find “Look alike” customers
- Publishing or writing Blog articles featuring content your Target customer is interested in
Having the right Data and an Up-to-date database will save time and money in the long-run and ultimately increase Conversion rates
How up to date is your current database?