Every aspect of your customer engagement strategy is put together based on the data and insights on your target customers that you have collected. The landscape of the rapidly-evolving database marketing world has created a need for advanced sales and marketing tactics fueled by reliable and accurate data. But how do you make sure your strategy is effective in giving you the outcomes you want? This short list of best practices will help you improve your database strategy for the rest of 2018 and beyond.
1. Start with a small group from your database
Doing more for less can cripple your brand if you are trying to refine your database strategy on a limited budget. Most organizations claim one of their biggest challenges is not having time or resources to implement an effective process. What they fail to realise is that you don’t have to do everything at once.
Begin with a small batch of your existing database that is easily manageable by your team and the resources available to you. For example, you could focus on a specific segment for a single campaign. Starting small allows you to build a firm foundation of your database strategy processes while also measuring key metrics like ROI and churn rate to develop a solid strategy.
2. Optimise validation for a strong database strategy
The quality of your data directly affects the effectiveness of your database strategy. Most organizations handle data cleansing and validation in-house and via email. For example, contracts and enquiries are sent and received via email and customer data is then logged manually in a spreadsheet. This strategy works, but it may be the reason why most marketing teams say they have limited resources to execute other parts of their strategy.
You should think beyond email validation and consider other data-quality options such as social validation or using third-party data validation tools. using a data validation tool is essential for identifying customers, profiling your target market and cross-referencing of data to create perfectly-targeted marketing campaigns.
3. Identify buyer-related metrics
The number-one database goal for most businesses is to target specific segments and improve engagement. To do this, you have to identify buyer-centric metrics that can be used with the contact data to create relevant content and improve targeting.
Many e-commerce companies, for example, want to collect specific data such as buyer time frames and spending habits throughout the month. These kinds of metrics allow marketers to understand exactly where the customer is along the sales funnel. Knowing your buyer profiles and segments will help you collect useful information that can be used to formulate a database strategy that works.
Now you know how to refine your database strategy, you can allocate a realistic budget to your database efforts and streamline your content strategy for more effective outcomes. Remember that businesses rarely get things right the first time, so keep evaluating your strategies and evolve them as necessary.
Check out this article on ways to build your customer database.