Now, if you are a new or even an experienced business owner, it is evident that you will be wondering as to what is the best technology that you can use for your organization when it comes to database management. Experienced IT managers and experienced database administrators state that every new and small business owner has a major struggle when it comes to choosing the right database for their business. So, it is prudent to consult a good DBA in the field for guidance. Note the business data might partly be in MS Outlook, some segments in the ConstantContact email programs while the rest of its information might be on LinkedIn. New business owners will be puzzled and ponder on which is the best database to manage it all?
Questions to ask yourself before you choose the right database for your system
When it comes to the database for your business, the question that business owners of new companies ask themselves is: Do they need a marketing database or a CRM? Are they the same, or are there differences between the two? Before coming to the differences between the CRM and the database, first, know how to build the right database for the business.
When it comes to getting the right database for your new business, there are some essential questions that you must ask yourself first. Never rush and ask yourself the following-
- What are you attempting to achieve?
- Who is this for?
- What are their requirements?
- What are your needs for them?
Do not allow your database to hold you back
Note that B2B marketeers have never had better access to information and data about enhanced tools to manage data in the past. Today, they are equipped with improved tools that help them manage the large volume of data effectively. However, the sad part is that most modern businesses, especially new ones, are using databases that are backdated and incomplete. This is why they suffer from the woes of poor performance. IT managers and database administrators suggest that when you are looking for ways to create the best database for your business, ensure that you keep the following suggestions in mind-
- Ensure that you audit the data of your customers –You should first ensure that you build the right picture of the customer base that you serve along with the traits that they share. Ensure that your business contacts are up-to-date and check whether you have missed out on any information. Visualize what your ideal customer will look like.
- Ascertain what information you need to collect for the database- The goal here is to ensure that your database represents a consistent image of the customer as well as prospects for your business. You should assemble information that is practical, relevant, and useful for the sales promotion and marketing process. The information that you collect for the database can also include the personal information of the customer. For instance, Mr. A likes football.
- Structure of the customer data that you collect-You need to place the company into different marketing segments so that you will get all the information you need when it comes to reporting and marketing campaigns. At the same time, you need to track the different stages of the selling cycle, where the prospect is at his best. Note that most CRM systems have a default mechanism built in them that helps them track the sales of the company. To optimize the above, ensure you create rules for the data to be entered consistently. You can use drop-down menus to save time. Make sure that you incorporate simple rules to make customer entries quicker.
- Expanding the database- You can supplement your database with-
- The data that has been supplied
- Data that is derived from sales interactions
- Data given to you by campaigns
- Social media data, several CRM systems allow businesses to import social media data from Twitter and LinkedIn.
Crunching customer data and tracking sales leads is a significant responsibility of the sales team’s marketing director. You should ensure that you create a tribe of leads as well as sales prospects for the business, and this is where the best database will help you. With it, you can track all the information that you need.
Note that if you have more people in the company database, you receive more selling opportunities. Now the question comes into mind- Is one database enough for a business?
Esteemed experts from the database management company in the USA, RemoteDBA.comsays that when it comes to a business, having one database is sufficient. However, several companies have more than a single database to track business constituents. So, in most cases, it does make sense to have two databases for the company- a credible CRM like the popular Salesforce platform and a customized marketing database for the business on SQL, Oracle, etc.
What is the difference between the two?
Experts say that your marketing database is created for the marketing team, whereas the CRM is made for the customer service and sales team. The marketing database tracks the activities of the prospect at the beginning of your relationship with him. It is generally created to collect sales leads, collect contact details, and track lead activities. It is designed uniquely so that communications and campaigns can be sent out to the database. The marketing database is present to nurture the business leads until the sales conversion until they finally enter into the sales process.
Your CRM is made for tracking the communication with the prospect and customer history after the sale is completed. It contains more data fields and goes beyond just the contact details of the customer. You can get past information on products and services that the customer has purchased from the business along with account and billing data.
Your CRM takes over from the marketing database after the sales process is completed. This means there is an overlap between the two databases, so it makes sense to keep both if you wish to see your business prosper and satisfy your customers in the process.