Marketing databases are an important tool for businesses but making one can seem quite difficult for a lot of small businesses. From experience I was able to construct one from three key steps.
The Niche Advantage
It’s important to recognise that your business cannot cater to all needs but still must cover some. This balance is what needs to be identified before a business can be self-sustainable and efficient which is a necessity for growth and expansion. Therefore a business must allocate itself a target market and compete within it for capital growth and profits. This is important to realise as it gives focus to the type of consumer’s your business will market to and enable a review stage to measure the effectiveness. Generally speaking, a niche is a good way of creating a competitive advantage for your business to boost their way through the markets.
Providing Incentives Are Key
Instead of a line in your email or a submit button on your website for newsletters, create decent incentives for subscribers; free advice, techniques, access to e-books and audio interviews with an expert in your field as free gifts on registration. If the consumer detects high quality they are more likely to sign up as they now have an incentive to do so. In return the client is receiving your bias media and texts denoting you authority within your market.
Customers Like Real Value
Subscribers want value for time. Reading about industry news is not valuable to most. Value is derived from the perception of the consumer. If they think that time, money and effort has been placed into something which allows them to not spend their time, money or effort then it is easy to perceive value. Original content, social media and feeds allow the consumer to perceive the value as the business is interacting with them using businesses time. Calls to action and links to further information on your website is a great way of keeping your market engaged with your business. A direct link can be drawn between how substantial the offering is and the engagement of your subscribers, which is what turns your database into a list of paying clients.
Over time as the client has engaged with the business they will begin to recognise you as the authority in your market and more willing to listen and act on your sales pitches. It may seem counter-intuitive, but the more value added for your customers and prospects for free, the more willing they will be to seek out your services and products when the time comes for them to spend serious money. Continue this long enough and you’ll find your database growing exponentially without even needing to ask for referrals as you will have built your own list.