othing stands still. The only constant is change-and key N sales technologies, like database marketing, will have to adapt to the changing market. But where is database marketing going? And how should bankers who sell insurance tailor their database marketing efforts to meet the needs of today's changing environment?
How can bankers tailor their database marketing to today's changing environment?
Database marketing consultant John Harrison, president of DiMark Marketing (Langhorne, Pennsylvania) briefed bankers on the future of database marketing at a recent convention of the Association of Banks-In-Insurance (Washington, D.C.).
You can't escape the basics
Harrison shared one of his favorite stories about the benefits and pitfalls of technology. "There's a Frenchman who is a real technical guru," said Harrison. "And he decides he's going to break into the Louvre and steal some of the masterful works of art. So using his laptop and the Internet, he deciphers the code, and figures out how he can offset the security system. He plans it so that he can break into the Louvre when the guards aren't around. And he successfully does that. He goes in and takes off with some of the masterpieces of the world.
"But six blocks from the Louvre, he's captured by the police, who pull his slow-moving van over to the side of the road. And when the police bring him into the station, they question him. 'With all of this technical knowledge and sophistication that you have," said the police, "it just amazes us that you would get caught.' And the Frenchman's answer was, 'I spent so much on technology that I had no money left to buy gas for the van."' Like that thief, with all our technology we're still limited by the basics. "It's no secret to any of us that knowledge is becoming a very important part of everything we do," Harrison noted. "The information industry is being driven by this knowledge. And as we all become more sophisticated, with the constant demand of time and our lifestyles, it becomes even more important to us