Have you ever stopped to think what the entries in your customer database and marketing database are? Each entry is a potential lead that can bring more sales to a company. A marketing database has all the details of your existing customers and your potential customers. It is the operational tool of your marketing team that tracks the prospect of sales and profit. An excellent marketing database can not only track opportunities, but it can also collect leads, gather new information about potential customers and help in the analysis of your lead generation activity.
Why does your company need a marketing database as well?
An excellent database of customer intelligence will be able to provide you with all the details including the kind of research they are doing on your brand, their initial contact point (social media and search engines) and their actual activities on your website. A good database is like a complete storybook with each entry representing a short story including the type of relationship between brand and customer, and the profit each sale generates. Since each entry brings forth fresh data about the customer and the brand, you need to refresh your database on a regular basis.
How are most companies gathering so much data?
A vast majority of the upcoming brands and online businesses are utilizing third-party data vendors to collect actionable data. It might sound simple for those with a working knowledge of database management, but it can be difficult for the ones taking baby-steps in the realm of database administration. Regular updating can involve third-party data vendors. When that happens, data becomes too diffuse. Superficial data sets can cause functional data to reduce significantly. In these situations, a data expert can always help you filter out relevant data and make room for new actionable data in the store.
Utilizing multiple databases for optimizing marketing campaigns
Always remember to streamline your data vendors, even when you are using third-party data. In most cases, companies do employ several data sources for populating their marketing platforms. One of them usually provides the marketing leads, and the others typically provide the accounts. In these cases, you will need the help of a database administrator to ensure the authenticity of your data and to remove redundancy in the database. In most cases, social media, search engine data and application data prove to be valid sources of data for multiple marketing databases. Modern companies often use various data sources for achieving short-term wins and for streamlining long-term data collection efforts.
Modern trends in database marketing among customer-centric companies
In reality, most businesses are suffering from infobesity at this time. They are drowning in uncharacterized data, and they need references to help characterize them. Thankfully, new data management tools have evolved with techniques to sort through humongous quantities of data (big data) and leverage digital behavior of customers for an increase in efficacy of the process. Database marketing is shepherding a new era where companies can contextually utilize relevant customer insights to deliver hyper-personalized products and services to the modern customer.
Sujain Thomas has been working as a database administrator for several years now. Her expert knowledge of data management has paved the way for cost-effective big data management and analytics in small to medium companies.