Four constituencies in every database:
Current customers
Frequency of purchase
Average order size
Lifetime value
Recency of purchase
Transactional details
Extensive demographic and business information
Receptivity - tendency to buy product/services, channel preference
Prospective customers
Similarity to current customers
Basic information (name, address, etc.)
Lapsed customers
Vendor accounts
Purchase behavior
Ideally companies must determine the appropriate requirement of data, its structure and technology platform required to meet its objectives. Unfortunately, many businesses only collects the minimum data necessary to fulfill the basic facts of the data. This limit the purpose of database marketing and undermines the optimal performance of your marketing.
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