Database Management

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Database Management

  1. 1. Database Management<br />Prepared by EquipmentFX<br />
  2. 2. The Basics<br />What it is<br />What it means<br />What it can do<br />The alternatives of NOT doing it (or having a plan)<br />
  3. 3. What Database Management is<br />It is simply this:<br />Using your customer and prospect data that in an efficient, consistent and economically responsible way to promote your products and services<br />
  4. 4. First Things First…<br />If Database Management is not an ongoing part of your culture, you are misusing one of the single biggest, most controllable assets you have!<br />
  5. 5. DO YOU CLEAN AND UPDATE YOUR DATA?<br />Do you do the following:<br />Match your records to the postal records to insure higher delivery?<br />Cass Certify your data, insuring higher delivery<br />
  6. 6. Ever heard of the famous song…<br />… “ Return to sender, address unknown”<br />Written and sung by Elvis Presley<br />A big indication of wasteful spending<br />Look around: if you’re mailing, you’ve got a bunch of that stuff laying around!<br />
  7. 7. What Database Management Means…<br />It means you have an understanding of this as an ASSET, and action means more than words<br />You have outlined a plan to use your data, acquire it, build on it and eliminate wasteful spending<br />
  8. 8. What it Means cont…<br />When it is done right, it considers the following areas:<br />Understanding your internal capabilities: Sales, office, points of contact and collection<br />Understanding your resources: Who is most qualified to collect it, store it, use it and keep it clean<br />
  9. 9. What it Means cont…<br />Contact Point Management:<br />Collection points:<br />Everywhere possible throughout your company<br />Collection techniques<br />Business cards, counter displays, CRM systems<br />
  10. 10. What it means cont…<br />Storage techniques:<br />Is it in Outlook?<br />A CRM system of some sort<br />Disconnected computers and laptops?<br />Usage technologies:<br />Mailing<br />Emailing<br />Newsletters<br />
  11. 11. What it CAN do…<br />First and foremost it can…<br />Help to focus your sales, efforts and investment in ONLY the areas that matter!<br />
  12. 12. What it can do cont…<br />Benefit #1:<br />Assuming you believe the sales force has limitations, it can automatically and consistently tell your story and what is unique about your products and services.<br />
  13. 13. What it can do cont…<br />Benefit #2:<br />It can focus your efforts on ONLY those areas that are most likely to want what you sell or service.<br />
  14. 14. What it can do cont…<br />Benefit #3:<br />Done right, it allows for the efficient use of your existing data sources (what you’re already paying for), and get the most out of them.<br />
  15. 15. What it can do cont…<br />Benefit #4: <br />It will tell you with accuracy what your “PENETRATION INDEX” is, or YOUR OVERALL PENETRATION into your total opportunity<br />This allows for a highly targeted approach to those that NEED to hear your story!<br />
  16. 16. The Alternatives of NOT doing it!<br />Wasted marketing spend by not utilizing your resources the right way<br />Not consistently following up on the right group of customers or prospects<br />Leaving to chance the management of a key asset of your company<br />
  17. 17. The Alternatives cont…<br />Letting your front lines continue to plan and execute strategy<br />Allowing randomness to systems and processes<br />Blurs your true numbers and affects your understand of true Return on Investment<br />
  18. 18. What’s Needed<br />Commit to a “culture of discipline” and make the capture and use of your data a priority<br />Understand the techniques to collect, store and use it.<br />Commit to a CRM system of some sort<br />
  19. 19. What’s needed cont…<br />Understand your internal capabilities (people, process, systems and technologies)<br />Form a plan to 1) Get educated on the possibilities, 2) Map the plan with timelines and milestones to achieve your goals<br />
  20. 20. Be Forward Thinking<br />Understand the automation capabilities to take the guesswork out of as many processes as possible<br />Understand where technology is, where it’s going, and the impact on your company<br />Commit a few hours each week to talk about it!<br />
  21. 21. Commit to the process!<br />This exercise pays HUGE dividends for ANY company!<br />www.equipmentfx.com<br />

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