Thursday, October 05, 2006

Is your database winning you business?

One of the most valuable assets a company can have is a database of customers and potential customers. But you can only turn those people into business if you use that information to help you build and manage a relationship with them.

Here’s a good example. Two months ago I went to a conference and visited the various exhibitor displays attached to it.

I was particularly interested in a number of new products and services available and made a point of talking directly to the person on the display, explaining how I could use their services for some of my clients.

Each one of them promised to follow up later with detailed information about their products, services and pricing.

Two months later, only one of them has.

Which leads me to wonder, why are these people throwing their money away?

A couple of thousand dollars in sponsorship, exhibitor fees, travel and accommodation put them right in front of a potential client with the will and the money to spend and they haven’t converted me into a customer.

Sure, I’m on their database. But because they have not followed through on the relationship I am no longer interested in doing business with them.

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