– 15 benefits of building a database

Fifteen Benefits of Building a Database with

1. Help determine how much each customer is worth.

2. Identify best customers and worst customers.

3. Offer best customers special deals etc.

4. Increase Lifetime Value of customers by reducing defections, increasing the amount of money spent by customers, reducing marketing costs, and increasing referrals.

  1. Use the information to build better relationships with your best customers.
  2. Profile customers using a combination of behavioral, demographic, and psychographic variables.
  3. “Clone” best customers.
  4. Be more targeted in acquisition efforts by determining the best predictors of a profitable customer.
  5. Provide different levels of service depending on how valuable a customer is to your organization. In essence you can discriminate between customers.
  6. Model and segment customers in a variety of ways to make marketing more effective.

11. Communicate in a personal way with each customer. Build a dialog or conversation with customers.

12. Customize offers to the individual.

13. Gather information quickly, cheaply and accurately.

14. Determine the effectiveness of any marketing effort.

15. Cross-promoting

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