Magazine article from our research archive:
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Winning back customers through database marketing.
- Article from:
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Direct Marketing
- Article date:
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November 1, 1994
- Author:
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Copyright informationCOPYRIGHT 1994 Hoke Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Data base marketing is an important tool for identifying customers that could otherwise be lost to the competition. Customer retention is essential to retail marketers' operations since it costs more to acquire new customers instead of retaining current ones. Varying shift coverage and frequent management turnover make it impossible to remember all the customers that patronize the store and when they shopped last. Database marketing provides the ideal solution by allowing retailers to realize the potential profit loss in terms of how much each customer had purchased in their stores.
Knowing your old customers is not just good business sense--it's less expensive and more profitable than ...
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