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In-house data. Use it or lose it?

Building customers and a prospect database is one
of the most vital things you’ll ever do for your company. In this topic we’ll look at why your database is the best money can buy and tips for collecting customers information.

Why is your in-house database better than others?

Here are three reasons why your in-house database is the best data money can buy:

  • The people on your in-house list have previously shown an interest in your business.
  • You’ll be in contact with the right person. This helps to avoid wasting time and money.
  • People who have bought a product or service from you before are more likely to buy again or recommend you to someone else.

Ask yourself this question, do we really use our list? Do we collect data at every opportunity? If you’re not using it you’re losing it. Businesses and people are always changing. This can result in your database going out of date extremely quickly. A simple email once a month can help you monitor any changes in your database. Noticing changes to email addresses is quick, easy and very low cost. You can then use this information to check that the person is still contactable and update your database accordingly.

What data should you collect?

Collect as much as you can. The most important data to collect is:

  • Name
  • Address
  • Email address

If you’re one of the lucky one’s and your customers are very open with their personal data then collect more. If they’re not, collect a small amount of data at the first chance and then build on this over time. People will often tell you more at a later date because they have built trust and have a better understanding of how you will use the data.

Above all else keep it simple, you can always ask for more. Ensure that you can store the data efficiently and that you will use it. The more data you collect the more data organization you’ll need to do at a later date.