Using ‘balanced database’ as a way to implement strategic CRM
As we now have to achieve more with less - and prove what we're doing is effective - it's more urgent than ever to get a customer relationship strategy in place. So argues Helen Dunnett in this article about 'balanced database' - an intensive training programme by Purple Seven that provides software, training and marketing support. The aim is to increase ticket revenue, reduce wasted marketing spend and improve mailing response rates. The author describes how the programme works and demonstrates the impact through a case study at Colston Hall in Bristol.
Achieving a Balanced Database though is about getting a balance of each of the segments in the funnel, where the ‘in flows’ are equal to the ‘outflows’ (either to stale or migrated to another segment) and where the volumes in the segments can sustain the necessary activity. If the balance of customers in a segment stays the same but revenues fall then there are not enough customers in that segment.