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Your EnterQuest Bulletin - Issue 273
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| Thought for the week: "Look for the ridiculous in everything and you will find it." Jules Renard |
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In this week's issue:
The benefits of your customer database
Integrating a customer database into your marketing strategy can provide you with invaluable information that can give direction and understanding about your customers.
The value of your database relies heavily on the information you put into it. Incorrect information will affect results and if your customer contact information is wrong, this could reflect badly on you. For example, a recipient who receives a letter from you, addressed to John Smith, and his name is John Smythe, might not feel inclined to accept the new red-hot offer you're advertising.
Typically a standard customer and marketing database will fall into four categories:
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People data - this could include a unique code or reference, a full name and title, age, date of birth, income bracket etc.
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Address data - again, this could include a unique code or reference linking to the people data, as well as a contact address, address type (home or business), telephone number, e-mail address and preferred method of communication.
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Activity data - a unique code or reference linking to the people data, and a source code which identifies the source of the customer, ie where you acquired them from. It could also include information on what they have bought and your latest communication with them.
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Accounts data - this could include information on when the customer made their first transaction, their latest transactions and average order value.
Not all this information may be relevant to certain businesses and others may need more specific data, so it's vital to plan your customer database to ensure you're collecting the right data, at the right time and for the right reasons.
Using the data collected in the customer database can determine the people you will target with a new product or service and how you can reach them with media and communication campaigns. This targeted approach can save a lot of time and money and help avoid those customers who are unlikely to be interested.
A database can help you learn more about your customers and respond to their needs accordingly. For example, if a once-loyal customer hasn't made a transaction for a while, the information gained can prompt a communication to either stimulate another transaction or to find out if they're still happy with your service.
Your database should also help you save money in the long run. By using codes to illustrate which customers came from which campaigns, you can understand which activities work well and which ones you should avoid.
This tip is an extract of an article from EnterQuest's sister publication, BETTER business magazine. Subscribers to the magazine can read even more articles to help them run a better business, including:
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Honesty is the best policy. When you are trying to get through to a prospect, don't be tempted to employ devious techniques. Being honest and giving relevant information will get the best results, says Art Sobczack. (Issue 158)
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To receive a free copy of BETTER business magazine simply send us your name and address to enterquest@cobwebinfo.com, putting 'EQ magazine offer' in the subject box.
Each week we provide you with summaries of some popular or emerging business ideas in the UK and elsewhere around the world.
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Ice cream vans for adults. The Treats Truck is a New York-based business selling cookies, muffins, brownies and other sweet treats from its vans to the people of Manhattan and surrounding areas.
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Pregnancy Pizza. Different toppings for pizzas are often requested by pregnant women. One London restaurant has added eight variations of Pregnancy Pizza to its menu following requests from pregnant women. They include ice cream pizza, baked beans and sultanas and grilled aubergine and lentil.
Regularly improving your vocabulary is not just about learning a new word and its meaning. It will improve your general knowledge and make you feel and act smarter in all sorts of personal and business situations.
Do you know the meaning of the word 'congenial'?
a) agreeable, suitable
b) alike in origin
c) solid, sticking together
d) occurring at the same time
Answer at the end of the Bulletin.
The following topical business issues have been recently reported in the media. Did your radar pick them up?
1) A KPMG report commissioned by the Home Office and the Department of Health (DoH) has proposed new regulations which would affect which types of businesses if implemented?
a) alcohol retailers
b) fast food retailers
c) greengrocers
d) food manufacturers
2) As the credit crunch continues to bite, online retailers have reported an increase in trade as consumers turn to the Internet for the best deals. Which other businesses have reported an increase in trade, because of the effects of the credit crunch?
a) car dealerships
b) property maintenance and home improvement firms
c) travel agents
d) estate agents
3) Think-tank nfpSynergy's first Local Authorities Monitor report has revealed that local authorities should give more contracts to which type of organisation?
a) larger businesses
b) small and medium-sized businesses
c) charities and social enterprises
d) start up businesses
Answers at the end of the Bulletin.
Noise at work guidance website
The Sound Advice website, aimed at entertainment businesses and set up by the Health and Safety Executive (HSE) and industry representatives, provides useful guidance on the control of noise in music and entertainment. Musicians, performers, entertainers and their employers, venue owners, managers, promoters and technical staff will find the site useful.
Useful partnership agreement document
SME-Nup provides useful information to help small business partnerships draw up the necessary legal documents to protect their business. The site is operated by mobile communications firm O2, in partnership with The Law Society.
Resource for small media and digital businesses
New Media Knowledge is a site designed to gather and exchange information and resources about the digital industries. With a bias towards small creative businesses, the site offers updates, discussion, links, and news about training courses and discussion events.
Tips for checking domain name status
Did you know that when you buy a domain name, it might come with a history? Occasionally, names that have been abused are blacklisted by Google, blocked by e-mail providers, or are given a bad reputation through online conversations. This article from Vandelay Design lists ten quick and easy tools for checking domain name status before you hit the "buy" button.
Win an e-commerce web programme worth £400
EnterQuest has teamed up with Actinic, developers of e-commerce software for small businesses, to give a lucky reader the chance to win a copy of one of the top e-commerce web programmes.
Actinic Catalog is ideal for small businesses looking to sell their products over the Internet. It provides a range of e-commerce features and design flexibility needed to build and manage an individual and highly functional e-commerce operation.
The programme enables you to handle customer account management, taxation and shipping options, stock monitoring, content management, mailing list production and digital delivery for products. It also integrates with a wide range of online payment services.
Actinic is offering one lucky reader the change to win a copy of Actinic Catalog, worth £400. To be in with a chance of winning, simply answer the following question:
Q. How many Local Authorities Monitor reports has think-tank nfpSynergy produced?
E-mail your answer, together with your name, address and daytime telephone number, using "Actinic Competition" as the e-mail subject line, to enterquest@cobwebinfo.com.
All entries must be received by 31 August. EnterQuest and Actinic will use the information you provide for their own marketing purposes only and your details will never be shared with any third parties (except to arrange delivery of the prize). Competition rules are available on request.
This book helps businesses of all sizes to turn their marketing ideas into reality, from first concepts to final ideas. It will help the reader to gain an understanding of how to stand out from competitors and increase sales without having to find new distribution channels or invent new products. Check out:
Just one word answer
The answer is a).
Congenial means agreeable, suitable.
The entrepreneur found congenial surroundings in which to base his business. |
How's your business radar? The answers
1) The answer is a) - alcohol retailers, both on-trade and off-trade, could face new laws governing alcohol sales, after the review by KPMG found that many retailers have not been following a voluntary code to encourage sensible drinking.
2) The answer is b) - Property maintenance and home improvement firms are reporting an increase in custom, as homeowners choose to stay put rather than sell up.
3) The answer is c) - the nfpSynergy report revealed that local authorities should award more contracts to social enterprises and charities, after two-thirds of councillors it surveyed said they thought the third sector provided cost-effective public services. |
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Good luck
The EnterQuest Team
This information is meant as a starting point only. Whilst all reasonable efforts have been made, the publisher makes no warranties that the information is accurate and up-to-date and will not be responsible for any errors or omissions in the information nor any consequences of any errors or omissions. Professional advice should be sought where appropriate. |
