Database Marketing, like other marketing catch-phrases, has floated around for the past few years. It sounds great, but if you don’t understand what it really means, you will never be able to use it to bolster your ROI – and if it can’t do that, then it’s not much use to you. So let’s get right to the root of it…DATA.
Don’t get caught beneath a FLYING HOUSE.
The key to Database Marketing is your data and the processes in place to gain insights from that data. Data mining, the process of obtaining these insights, is all about discovering the relationships between the data you collect and using it to make educated sales, marketing and operational decisions. Armed with a thorough understanding of your customers and organization, you can make better strategic decisions. Otherwise, you could end up underneath a house with your toes to the sky.
If I only had a BRAIN…
Data is the central nervous system of your organization. Most organizations have data management processes in place for operations that can also be used for sales and marketing purposes. Think of all the data you collect on a daily basis – which products/services your customers are buying, when they are buying, where they live and maybe even their credit rating. This information is rich with insights about your customers – and if used correctly, your marketing goals are within your grasp.
If I only had a HEART…
Although data might be the central nervous system of your organization, you won’t get very far without a heart – in this case, the commitment of your entire organization to mine your data for company-wide insights. This is probably the point at which most organizations come to a grinding halt. So ensure that you get all the buy-in you need before embarking on this journey to the Emerald City.
If I only had the NERVE…
It’s a big investment to get all you data in order. Organizations today tend to keep their data siloed – to their detriment. I have worked for organizations that have data silos for online purchases, in-store purchases, credit management issues, and so on. With data siloed like this, there is no way to access compiled information to get a complete view of each customer. The good news is you have all this data; you just need the courage to move forward. Once you do that, you will be unstoppable.
Pay no attention to that man behind the curtain.
When Dorothy first encountered the Wizard of Oz, he seemed magical and all powerful. But he was just a man who knew how to use his tools to create results that no one else could. That is what Database Marketing is all about – using the tools that you have (your data) to create better results (ROI) – without revealing the man behind the curtain (you)!
Right on Tracy
good job
interesting, entertaining and informative article!
Very insightful. Our organization is very interested in this particular yellow brick road right now. Great analogy, thanks!
What a great article,
i am a mortgage broker in Alberta – what can you do for me to reach more clients or do to develop a focused campaign that would reach my potential client base?
rogerb@axiommortgage.ca
People don’t want to be pitched to, marketed to, or herded like cattle. People want information, answers, access and recognition – and they want it for free. Fewer than one in three people trust marketing messages. Trusting companies is more important than delivering great products and services. People value guidance from credentialed experts significantly more than peers
Great Content + Other People – Marketing Messages = GROWTH
Start by helping people, be an expert in your field and people will come to you! It’s old media vs. new media, and new media (aka the internet) is at your fingertips and its free!
Very creative and interesting post. Good job Tracy!
Very insightful! Love the wizard of oz references – made for and interesting read!
Excellent analogy! I would say for my company much of the data is siloed between different business units, to our overall detriment.
nice work!
Very creative post – comparing the Wizard of Oz and data? It works.
You are the Best!!!!
Great article, Tracy. This makes me want to follow the yellow brick road.
Awesome article T, you are the best.
Great post Tracy. I find that in my organization we spend lots of time and energy gathering and distributing data but it’s often not the data we need. So while we have the proverbial brain, we’re not using it, leading at times to poor or misinformed decisions.
I am a believer, great post Tracy.
Great Article – Love the analogy!
Sounds great Tracy. You’re the new Wizard at the end of Kirk’s “Green Brick Blog” and dead on about the Silos. Enormous amounts of useless data until it’s organized.
Well written and thought provoking article.
Great post Tracy. Really got me thinking about my marketing initiatives and what I’m lacking right now in my own business.
Thanks for the info Tracy! Love the Wizard of Oz analogy! Helps me gain insight into what you do!
Great work Tracy!
very good analogy. too many companies get lost in the data and lose their nerve to harvest the real value.
Good job Tracy
Love the wizard of Oz references!
Great article Tracy! I just learned something new.
Great article, Tracy! Let’s all follow the yellow brick road.
Glad to see you putting your data to use Tracy!
I completely agree that top-down organizational buy-in is key to making good use of avaiable data resources.
Nice analogy, really enjoyed your post!