Business Services Industry
What's in it for me?(Brief Article)
Target Marketing, July, 2001
Why do many marketing databases fail? "Building a database is easy; making money with a database is hard," says Arthur Hughes, vice president of strategic planning for MSDBM, who addressed this subject at the DMD Conference held in New York City this past May. A lack of a marketing strategy is one of nine mistakes Hughes named that can contribute to the failure of a marketing database.
To ensure your database marketing program succeeds, Hughes recommends you first collect data on your customer's purchases, demographics and lifestyle. Then, construct a lifetime value table. "Build a database that permits ad hoc analysis and find out what motivates your prospects," he says. For example, profitable strategies include user groups, newsletters, surveys, loyalty...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
Presented by the Premiere Rewards Gold Card from American Express