Guest Lecture about the relevance of Direct Marketing
06 January 2014
Mr Mandeep Sharma, Vice-President & Country Head, MRM Worldwide was at FIIB Delhi on 4th January, 2014 to give a guest lecture on Direct Marketing Database and CRM.
With decades of experience in the field of Direct Marketing, Mr Sharma urged that, more than textual knowledge, a practical & conceptual understanding of direct marketing is much helpful in the real life. Just like other media, direct marketing has its role to play across various businesses. Its role varies from FMCG to B2B depending on a certain number of factors like market conditions.
Further to establish why direct marketing is necessary, Mr Sharma explained how, sometimes, it is better to engage one on one with potential customers instead of wasting a large chunk of resources on advertising. This kind if marketing helps in identifying the needs of the customers and catering to them accordingly. This point was illustrated with examples by him stressing on the point that a wrong placement of an ad or marketing efforts is a loss of business.
The root of direct marketing, according to Mr Sharma, was not only converting a potential prospect into a customer, but to be able to retain that customer for a longer period of time to give repeat business. To provide appropriate business and comfort to a one time or regular customer, a few direct marketing tools have to be used. Discussing about those tools, he went on to cite examples from his diverse experience with big names in the market. Tools such as tele-calling, direct mailers, direct response advertising, emailing are powerful tools to generate business, and each one has its significant role. Depending on the kind of products and the target customer base, the use of these direct marketing tools varies.
He also talked about the similarities and difference between a list and database to be used in direct marketing. With filtering and efforts to match a database with the business objectives, tremendous results can be achieved. This step by step explanation further revolved around discussing the fundamentals of direct marketing with tips on communicating and keeping the customers for a long period.
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