In a world where consumers have almost unlimited options for products and services, leveraging the power of consistent communication with your customer database will strengthen your client relationships and drive revenue. Whether you have 100 or 100,000 past, present and prospective customers, managing their contact information with a database is a valuable tool. Moreover, consistently marketing your company to that database is worth gold and can be a secret weapon in your marketing arsenal at a time when every dollar counts.
These days, another quote for your product or service is just a dot-com visit or 1-800 call away. Now, more than ever, companies must invest in ongoing communication with their database to have a stronger chance of maintaining those relationships and even selling those customers more products.
Create a newsletter to mail or e-mail to your database. Write articles to become your customers’ trusted source and expert about your industry. Build loyalty and confidence by writing about staff promotions, continuing education and new certifications. As long as there are no confidentiality issues related to mentioning your existing customers, share compelling testimonials about how your company delivered for them.
One of the best uses of newsletters and other forms of direct mail is the opportunity to cross-sell your products. How often do customers tell you, “I didn’t know you sold or did that.” When you take the time to educate your customers about all of the products you offer, you are providing a cost-effective method in creating new opportunities for your company.
Cross-selling opportunities
As an example, many business owners use an insurance agent for personal needs and another agent for business coverage. A newsletter to an insurance agent’s database will cross-sell products to both segments and create new opportunities with people who are already customers. In fact, this example of the insurance industry illustrates the biggest opportunity of all for companies: the opportunity to sell more products to existing clients. A newsletter is an effective tool to accomplish this cross-selling tactic and its return on investment results will likely tower over revenue brought to you by ads looking to attract people that are not already customers.
Communicating information and offers to your database regularly can make a big difference to your bottom line.
The casino gaming industry shines with some of the most advanced database marketing programs out there. Monticello Gaming & Raceway is one of my clients that brings in measurable revenue from its database marketing program. The raceway mails several specific pieces out to thousands of its best customers each month. Ron Dando, Monticello’s director of marketing, an 18-year gambling-industry veteran, says that direct mail allows him to speak to each player on a one-to-one basis.
“Database marketing allows us to build customer loyalty by regularly sending specific offers, such as food discounts and free slot play via direct mail and e-mail,” Dando said. “Casino marketers analyze their database and look at many pieces of information about their players, including their level of play at the casino. Individual and tailored offers are then sent to customers at reward levels that recognize their performance as a customer.”
Managing and communicating with your database will provide your company with cross-selling opportunities, customer loyalty and results that drive predictive revenues and positive return on investment.
