Database Management

Prepared by EquipmentFX

The Basics

What it is

What it means

What it can do

The alternatives of NOT doing it (or having a plan)

What Database Management is

It is simply this:

Using your customer and prospect data that in an efficient, consistent and economically responsible way

to promote your products and services

First Things First…

If Database Management is not an ongoing part of your culture, you

are misusing one of the single biggest, most controllable assets

you have!

DO YOU CLEAN AND UPDATE YOUR DATA?

Do you do the following:

Match your records to the postal records to insure higher delivery?

Cass Certify your data, insuring higher delivery

Ever heard of the famous song…

… “ Return to sender, address unknown”

Written and sung by Elvis Presley

A big indication of wasteful spending

Look around: if you’re mailing, you’ve got a bunch of that stuff laying around!

What Database Management Means…

It means you have an understanding of this as an ASSET, and action means more than words

You have outlined a plan to use your data, acquire it, build on it and eliminate wasteful spending

What it Means cont…

When it is done right, it considers the following areas:

Understanding your internal capabilities: Sales, office, points of contact and collection

Understanding your resources: Who is most qualified to collect it, store it, use it and keep it clean

What it Means cont…

Contact Point Management:

Collection points:○ Everywhere possible throughout your

company

Collection techniques○ Business cards, counter displays, CRM

systems

What it means cont…

Storage techniques:○ Is it in Outlook?○ A CRM system of some sort○ Disconnected computers and laptops?

Usage technologies:○ Mailing○ Emailing○ Newsletters

What it CAN do…

First and foremost it can…

Help to focus your sales, efforts and investment in ONLY the areas that

matter!

What it can do cont…

Benefit #1:

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.

What it can do cont…

Benefit #2:

It can focus your efforts on ONLY those areas that are most likely to want

what you sell or service.

What it can do cont…

Benefit #3:

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.

What it can do cont…

Benefit #4:

It will tell you with accuracy what your “PENETRATION INDEX” is, or YOUR OVERALL PENETRATION into your

total opportunity

This allows for a highly targeted approach to those that NEED to hear your story!

The Alternatives of NOT doing it! Wasted marketing spend by not

utilizing your resources the right way

Not consistently following up on the right group of customers or prospects

Leaving to chance the management of a key asset of your company

The Alternatives cont…

Letting your front lines continue to plan and execute strategy

Allowing randomness to systems and processes

Blurs your true numbers and affects your understand of true Return on Investment

What’s Needed

Commit to a “culture of discipline” and make the capture and use of your data a priority

Understand the techniques to collect, store and use it.

Commit to a CRM system of some sort

What’s needed cont…

Understand your internal capabilities (people, process, systems and technologies)

Form a plan to 1) Get educated on the possibilities, 2) Map the plan with timelines and milestones to achieve your goals

Be Forward Thinking Understand the automation capabilities to

take the guesswork out of as many processes as possible

Understand where technology is, where it’s going, and the impact on your company

Commit a few hours each week to talk about it!

Commit to the process!

This exercise pays HUGE dividends for ANY company!

www.equipmentfx.com