What are your marketing decisions based on? Most small businesses and even quite a few large ones make these types of decisions with little more than a “feeling” or “intuition” to go on. While you may have been in your industry long enough to know what works and what doesn’t, when it comes to your marketing, you really need to have some solid data to base your decisions on. In order to do that you need to have some sort of system in place to acquire that data.
There are quite a few good data base programs available that are well within the price range ( from free to just a few hundred dollars ) of just about any business. ACT, Goldmine and eGroupWare are all choices that are inexpensive, effective and customizable. For larger businesses, you may want to consider having a custom application developed from the ground up. The important thing is to accurately track your interaction with prospects and clients so that you can determine which of your marketing efforts have been successful and to what degree. As the amount of data that you have access to grows you will be able to more finely tune your marketing efforts and generate a higher ROI.
If you want an example of a company that is acquiring and utilizing their data to the fullest extent, look at Google. Aside from the information in their 2003 patent which was made public in 2005, you can find further evidence of their use and planned use of data in a document released during their recent analyst day.
If you take the steps to collect and utilize the data associated with your marketing efforts, you will out perform your competitors and increase your business.
