COMMENTS

 

  This book is one of the leading exponents of database mining or database marketing.

Database marketing is almost the antithesis of mass marketing.  Database marketing has become feasible because of the advances in technology that make it possible to collect large amounts of data on potential customers.

8 OF THE BEST IDEAS

1. In 1:1 marketing, your goal is not more market share, but rather more share of the customer.

2. Rather than sell one product at a time to as many customers as possible, you want to sell as many products as possible to one customer at a time.

3. A mass marketer tries to differentiate his products, while a 1:1 marketer seeks to differentiate his customers.

4. A mass marketer tries to acquire a constant stream of new customers while a 1:1 marketer tries to get a constant stream of new business from current customers.

5. By differentiating your customers, you are able to determine which ones are of most value to you and you are able to focus your efforts on selling more to your best customers.

6. Loyalty programs, such as the frequent flyer programs offered by airlines, are the best examples of 1:1 marketing.  The most valuable customers are identified, rewarded for their loyalty and offered additional products and/or services at increased margins.

7. Another good example is grocery stores who issue discount cards to customers.  When the customer enters the store, he or she swipes the card through a reader and receives a printout of specials available to them just that day.  The store, in return, obtains a lot of valuable information on the buying behavior of the customer.

8. Probably the most important idea in the book is customer differentiation.  Determine who your best customers are and put your marketing and sales efforts into selling more to them.

"Each time we meet, I take at least two good ideas back with me for implementation in my business or personal life." Dave McCarty President Aquionics Inc.