Andrew Woodger, data services director at Adare, warned that the recession has caused a dramatic shift in customer motivations and loyalties, which, while posing a threat to some companies, can be an opportunity to others.
He said: "Companies cannot afford to be complacent and fool themselves into thinking that how they used to service their clients still applies today."
According to Woodger, successful database management lies at the heart of successful CRM. It means a continuous revaluation of customers' activity on a daily basis to identify and address any trends.
"[Data can be used] to spot trends early, drive efficiency through highly targeted campaigns," he said. "The most successful businesses use database marketing to drive CRM strategies to great effect."
Traditionally a high investment barrier has prevented companies from harnessing the benefits of database driven marketing but recent advances in technology have brought the cost and accessibility within reach of all organisations.
Woodger added: "The two golden rules of surviving a recession are: monitor your customers more closely and adapt your propositions quickly to meet their changing needs.
Data-led marketing key to survival in recession, claims Adare data chief
Organisations have forgotten about the meaning and value of customer relationship management (CRM) and need to focus on data management to meet the demands of retaining business in the recession, an industry expert has said.
