Prospect Database…If You Build It, Will They Come? Part 2

Last week (07/21/08 post), Don laid out the initial steps for building a results generating prospect database. Here’s the rest of the story.

Structure communications to accommodate specific informational needs discovered in your research phase. Select communications vehicles and media aligned to prospect preference. Enter queries obtained from communications and relay them to the sales department. Since they’ve been generated by answers to their specific felt needs, these queries are sure to be of high value to your sales reps. The likely result—sales quotas reached, and full order books. Everyone’s dreams have now become reality!

Is there anything new here? Not really. It’s basic marketing: “… creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders," as defined by the American Marketing Association. But you’re employing digital tools for which your company has likely spent thousands, yet that sit unused or underutilized. With a little cooperation from IT and your sales department, your marketing department can help energize your organization.

While it’s fashionable to promote innovation as the answer to all challenges, there’s the other great neglected engine of growth…marketing. According to Peter Drucker: "Because the purpose of business is to create a customer, the business enterprise has two—and only two—basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business." A great marketing tool is a well nourished prospect database. Why not give a try to developing yours?

Don