What Every Marketer Needs to Know About Marketing Databases

Course Overview

This course will review strategies and as well as key principles of database marketing including customer lifetime value, predictive modeling, tests, controls, and segmentation including RFM (recency, frequency, monetary) analysis. You’ll be provided detailed instruction on how to effectively use database marketing techniques to identify, segment, and target an audience, as well as accurately and cost-effectively reach your intended recipients. 

Course Content

Discover how to implement state-of-the-art database techniques and develop a database strategy to meet your short- and long-term marketing goals. You’ll hear from an expert on how to use database marketing for customer acquisition and retention, as well as determine customer life-time value, a key component in your overall marketing strategy.

 Marketing strategy: what it is and how it works

• What marketing databases can help you do
• What proves that database marketing works?
• Database marketing pitfalls
• Database “check-up:” rules for success

 Designing a customer retention program

• A complete customer retention plan 
  • Why customer retention is important
  • Methods of retention: recruit the right customers to start with
  • Methods of retention: communicate with and reward them
  • Database “check-up:” retention program

Customer lifetime value calculation and use

• What is lifetime value?
• A retail operation example before and after a loyalty program
• Lifetime value segments
• How to use lifetime value
• Using lifetime value to get budgets approved
• Data base "check-up" lifetime value