Monetising your Customer Database

Monetising your Customer Database

Learn how to generate sales from your customer database.
If you thought email marketing was dead, THINK AGAIN!

Business marketers are still convinced that spending buckets of cash on digital marketing using Facebook and Google Advertising are the best ways to grow sales?

The fact is, there is a far GREATER opportunity to monetise your existing customer database, AND it’s a fraction of the cost you would spend with online marketing!

There are a lot of companies that DO NOT have a customer database that they can potentially use for marketing.

Database Marketing is the practice of classifying, collecting, and then scrutinising your customer data to deliver tailored, relevant, and effective marketing and sales messages.

Usually, the database is made up of details that stem from customers order details, sales enquiries, newsletter subscriptions, website enquiries, social media interactions, events, or potentially even a purchased database list.

Why marketing to your customer database is so beneficial;

1. Your customers already know and trust your brand. You don’t have to spend money trying to build brand trust and educating them on who you are.

2. They’ve already done business with you in the past. Because of this familiarity on how you do business, it makes the purchase process much easier and also faster.

3. They are already familiar with and interested in your products and services.

4. Your marketing can be far more personalised and targeted because you already know what they are interested in.

5. HIGHER sales profits due to MUCH lower marketing costs!

How to monetise your customer database

Here are seven database marketing steps to follow.
We’ve also included some great tips that help you to LEVERAGE your customer database to create organically driven customers that will become repeat purchases.

1. BEGIN by building and segmenting your database
The first step in database marketing is aggregating any contact data into a database list and breaking this into marketing segments. This makes it easier to target more personalised and relevant offers.

2. Build your campaign offers
Thinking about your database segments, create a series of offers that will match. These could be focused on ‘today’s offers’ such as cross-sell and up-sell options, as well as longer-term campaigns (e.g. brand trust and loyalty).

3. Get your infrastructure right!
Once you have your database together and cleansed, it needs a place to live.
Typically a CRM (Customer Relationship Manager) system is best suited.
You also need to think about your campaigns and how you will publish these to customers?

• Email marketing systems
• Newsletters
• Social Media Groups
• Customer Loyalty Programs
• Industry Events & Partner Programs.

Don’t forget to think about the ongoing management of the database e.g. Who will be looking after it, and how other systems will integrate to keep the data current and in sync.

4. Build a solid content marketing program
It’s easy to push out an email to customers, BUT the real value is creating something informative, educational, engaging, and helps them to solve a relevant issue.

Think about the following;
• Review and update your brand identity and message
• Update your website message, positioning and overall design
• Newsletter topics, timing, and also its format
• Create a Blog series on your website and share across social media
• Build email blasts (promotional offers)
• Create quality images and videos.

More than 60% of customers make purchases because of the recommendations made on a blog or industry-related article.

5. Customer retention and communications
Bringing in new customers is hard, but losing them is easy and costly. This is why customer retention is so critical. Customer retention will give you visibility, trustworthiness, and competitive edge to stand out in your industry and hold onto your hard-earned gains.

• Keep your database or CRM updated
• Focus on becoming your customers’ trusted advisor and subject matter expert
• Send frequent but personalised communications (newsletters)
• Boost your interaction on social media and through your website
• Turn complaints into opportunities
• Run loyalty programs and engagement activities.

Increasing customer retention by 5% potentially increases your profits by 25-95%.

6. Analyse and optimise your campaign results
Having a set of goals in place allows you to measure results and build the performance indicators you’ll use to gauge the progress towards those goals. Having the right systems will also help you to use statistics to measure results and optimise the performance for ongoing campaigns.

7. Work with a marketing agency. Marketing Agencies can teach you email marketing tricks like re-sending the email to those who didn’t open it to increase the effectiveness of the campaign by around 54%.

Choosing the right words, images, actions, and the overall message will have a significant impact on the outcome of campaigns.

7. Utilise the experience of a brand agency
Don’t try and work all of this out yourself!

It’s almost impossible for businesses to stay across the changing trends in marketing let alone keep abreast of the constant changes to digital platforms like Facebook, Instagram, Google, LinkedIn etc.

Engage an experienced Brand Marketer or a Marketing Mentor to help educate and guide you through the creation of your strategy and plan. These experts will be in the best position to get your brand identity and message right BEFORE before you start investing money in database marketing.

Want to set-up an email marketing system?

rev™ Branding is a MailChimp Pro agent for Email Marketing!
We provide email marketing masterclass that shows you how to set-up and effective email marketing system using MailChimp.

rev™ MailChimp Lite Package: For only $695 +gst, our team can help you send out your first targeted and email campaign in just 30-days!

Additional Resources

Download our email marketing checklist
Learn how to optimise your brand
Learn how to BOOST your email marketing results
Learn more about Website Development & Marketing
Learn how to build a Content Marketing Program

Have a question for us?

If you need some help getting started, speak with us on +61 3 9863-7444 or [email protected] and we can show you how to start creating a marketing database right now!

Better Brands = Better Business