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Build A Database. Building a database
should be one of the primary components of a business owner's total business
plan. It's absolutely critical that you retain key information about your
customers.
Topic for Discussion: What does Carol do to
reach out to her target audience?
Answer: She maintains a database that
includes the name, address, phone number and purchasing history of her
customers. She sends direct mail to them regarding specific items they would
find interesting. She also reaches customers with print and radio
advertising.
One technique Carol uses to grow her mailing list
is to rent the list of a business that has customers like her customers. She
told us about renting the one-time use of Bon Appetites mailing list for
the Zip codes in and around Madison.
Everyone who responded to her mailing by using the
coupon or returning the response card is now a permanent part of Orange Tree
Imports list.
Many people dream of having thousands of
customers but only a few do the work that must be done to find and win them. In
the book, Good to Great, Jim Collins writes that great companies pay attention
to details and no task is too tedious.
Scott and Marthalee Mooney, founders of Country
Supply, used the good-to-great strategy and didn't even realize it. They wanted
to build a list and no task was too small. Scott and Marthalee hand-copied the
names and phone numbers of people who were selling horses or equipment from
newspapers' classified ads sounds very naive. However, he was only 22 years old
when he started the process of building a mailing list. Scott did what made
sense to him at the time. He did what he could afford.
Eventually he thought of buying lists from
magazines and over time he learned how to find qualified names with less
effort. |