The importance of having a database
Many business owners know the importance of having a database of prospects and clients as it is an opportunity to build relationships. By building relationships, you can position yourself or company as the experts (go-to-person) in the industry.
Having a database also gives you an opportunity to communicate to your prospects and clients on a regular basis. It will help you stay top of mind. So how do you build a database?
3 Ways to build a database
1) Free – This tactic is growing your database organically which can be through Networking or getting people to come to your website using SEO (Search Engine Optimisation). To build a database using this free tactic can be slow so the investment of time must be considered.
2) Paid – This is the quickest way of getting people to your database. This can be achieved via Pay-Per- Click on Facebook, Google, Bing or third party websites. Whilst this is a quick way, there is a cost per click and there is no guarantee that some-one that clicks on your advertisement will subscribe to your database.
3) Leverage – by leverage, we mean creating partnerships with like minded businesses. These are businesses that already deal with your target market. For example it could be a Mortgage Broker and a Financial Planner – both organisations are dealing with Mums & Dads in the financial space. The best aspect of using the leverage tactic to build your database is that your product or service is being recommended by a person that has already built trust. The sales process is quicker provided there is a fit and that the referral is conducted correctly.
If you were going to do one of these tactics to build your database, then focus on Leverage before tackling the others. In fact, we have helped our clients create partnerships to build their database and grow their sales.