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Are you making the most of your database?

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Are you making the most of your database?

For those who feel that customer retention plays a relatively minor role in helping a company grow a healthy bottom line, here are a few statistics you might be interested in.

According to Bain and Co., a 5% increase in customer retention can increase a company’s profitability by 75%. And if those numbers don’t impress you, Gartner Group statistics tell us that 80% of your company’s future revenue will come from just 20% of your existing customers. Still not sold on customer retention? One final statistic provided by Lee Resource Inc. should give you plenty to think about: Attracting new customers will cost your company 5 times more than keeping an existing customer.      

(Source : Forbes.com)

At a time when every penny of your budget is under intense scrutiny, maximising the value of your spend is more essential than ever. To improve return on investment (ROI), you’ll recognise the value of exploiting every tool at your disposal. 

So how can Data Driven Marketing improve your marketing results? 

Quite simply, Data Driven Marketing is the bedrock and foundation for an insight driven approach. By harnessing the insights and information locked in your customer data, it removes the guesswork from your marketing campaigns and makes them more effective. Using information about your customers and prospects in a more sophisticated, common-sense manner, Data Driven Marketing can win you more business, additional sales and heightened customer satisfaction.

The more you know about your customers, the more accurately you can target your campaigns. That means hitting the right person, with the right product, at the right time, for the right price – giving you the right result: increased sales, and improved ROI.

(Source: DMA Januray 2012)

To find out how we can help, clean, profile, segment and target your existing database, please contact Ali – ali@thecarriergroup.co.uk – 01271 336009

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