|February 4, 2020||Comments Closed|
Organising your information is as important as the time you spend gaining an understanding of your market. Your market intelligence information is an important part of your firm’s equity.
A first-rate marketing information system organizes your marketing and sales knowledge and becomes the central processing unit for all of your marketing activities.
It helps you to quickly respond to new opportunities and leverage existing client relationships.
There are three steps to establishing an effective marketing information system:
Step 1. Contact database. Start by setting up, or reviewing your contact database. This is where you store information about your clients, prospects and referral sources.
Your contact database stores details of clients, prospects and referral sources:
Contact details: name, address, phone, email, website, blog (social media)
The market(s) the client operates (e.g., construction, retail [SIC code])
The different types of services and products that you provide
Fees/Income: the annual fees and income
Referrals: yes or no to show whether the client provides them
You probably already have these details on hand. Review several of your existing client records to identify patterns of information that you’re already collecting or have.
Good planning will save you time in the future by allowing you to enter data just once and leverage it over and over again.
Step 2. Marketing library. Create an in-house marketing library. Every niche market has its “industry bible,” or a key handbook, blog, and/or website that is used by its members on a daily basis.
A marketing library often contains vital information about the industry and should include:
Major publications that are read by clients and prospects
Newsletters, journals, websites, and blogs
Niche market data – descriptions of your target markets: size, location, key players and competitors
Step 3. Subject files. Having all your subject matter files in one location will save you time, allow you to quickly take advantage of marketing opportunities, and increase productivity, as all information is stored in one place that is easily accessible.
Subject matter files include:
Scripts – for email marketing, referrals, outbound telephone calls
Letters – templates for obtaining appointments, email marketing, testimonial requests
Testimonials – from satisfied clients
Content – articles, white papers, blog postings
A well-organized marketing information system takes the guesswork out of your marketing and efficiently leverages your time.
It will provide you with an advantage difficult for competitors to match, allowing you to better leverage your knowledge base for adding value to your clients and supporting your firm’s mission and goals.
Above all, it will free you to do what you do best: serving the needs of your clients and markets.