Collection of Data
The first step in database marketing is collection of customer and prospect data from various sources such as B2B events, surveys, landing pages with lead capture forms, data capture through websites and email campaigns, social media campaigns, other online sources and third party vendors.
Utilization of Data Analytics
Owning a database is of no use if it does not provide valuable insights on your target market. Another aspect of database marketing is the translation of data into actionable insights, by using tactics such as segmentation, profiling and scoring, to identify specific groups with characteristic behavior and preferences.
Development of Data-Driven Marketing Strategies
Once you have insights about your customers and prospects through data analytics, you need to translate them into strategies. By choosing a niche audience, creating marketing messages that resonate to them and by using channels they popularly use, you can increase engagement, response, and conversion rates.