Getting to Know Your Target Market with a Contact Database

The first step in getting more clients and customers for your business to expand is to know your target market. In order to effectively and easily know who would be your target market, you can acquire a contact database from credible lead providers. Doing so can increase your chances in closing a sales deal henceforth bringing a substantial amount of income to your business.

Using a contact database in order to properly code your target markets can bring in a lot of benefits for your firm. There are three common fields that you might want to put into your contact database to effectively tell you which individuals or businesses would be the best one to deal business with. These three fields are recency, frequency, and monetary fields.

Recency – This is the term used in your database that would tell you your most recent clients. Why is this important in your database? It would allow you to predict if the client would be interested in doing business transactions with your company.

Frequency – This is the number of transactions made per client since they have been successfully added into your database. The transaction does not only mean the number of things purchased but rather any type of successful contact that have been made from the start of the time that they were added into the database up until the present.

Monetary – This field would show how much the prospect is shelling out for your products and services as well as their income generated over the years.