Database marketing can be an effective tool to sell services and products from your company, however like any type of marketing it’s not always clear what works—and what doesn’t. One way that you can get a much better idea of how to effectively use database marketing is to look at your successful competitors to see what works for them—and then use that information to improve your own marketing techniques. Let’s take a closer look at 3 things that you can learn from your competitors about database marketing.
What Type of Data Is the Most Effective
Database marketing can involve collecting or purchasing diverse types of data, including although not limited to: name, location, industry, turnover, company size etc. However, only certain types of data are going to be effective in determining what customers to contact and what products/service you should market at them. Find out what your competitors collect to get a better grasp on what information is most important when determining who to contact and what to market.
How to Contact Customers Without Seeming Inauthentic
One of the trickiest aspects of database marketing is to utilize that information and contact customers in the hopes of getting them to buy more of your product or service—all without coming across as inauthentic, pushy or even worse, as “spam” to be marked and discarded. If your competitors are successful at getting customers to spend more money after being exposed to their own database marketing, then you should look at examples of their marketing so you can analyze their tone, formatting, and even what language they use with customers. Go ahead and sign up to all your competitors now.
What Products or Services Are Easier to Sell with Database Marketing
Not everything is going to be suitable for selling using database marketing techniques. Firstly, you will need to work out your return on investment and then secondly, you will be able to figure out what exactly you should be marketing using this technique. Look at what your competitors are offering to their customers. Are they offering customers services or products they’ve already purchased which need to be replenished? Are they offering them items similar to those on their purchase history? Or are they using the information to market something completely new? Find out what your competitors are getting people to buy, and use that information to make changes to your own database marketing plan.
Remember: they may be your competitors, however that doesn’t mean you should avoid them and that you can’t learn from their successes.