Robert D. "Bob" and Kate Kestnbaum developed new metrics uganda email list 439482 contact leads for direct marketing such as customer lifetime value, and applied financial modelling and econometrics to marketing strategies.[2] In 1967, they founded the consulting firm Kestnbaum & Co, that employed several notable database marketeers such as Robert Blattberg, Rick Courtheaux and Robert Shaw.Kestnbaum collaborated with Shaw in the 1980s on several online marketing database developments - for BT (20 million customers), BA (10 million) and Barclays (13 million).
Shaw incorporated new features into the Kestnbaum approach, automation, contact strategy optimization, campaign management and co-ordination, marketing resource management, marketing accountability and marketing analytics. The designs of these systems have been widely copied subsequently and incorporated into CRM and MRM packages in the 1990s and later.[4]The earliest recorded definition of Database Marketing was in 1988 in the book of the same name (Shaw and Stone 1988 Database Marketing):[citation needed]"Database Marketing is an interactive approach to marketing, which uses individually addressable marketing media and channels (such as E mail, telephone and the sales force): to extend help to a company's target audience; to stimulate their demand; and to stay close to them by recording and keeping an electronic database memory of the customer, prospect and all commercial contacts, to help improve all future contacts and to ensure more realistic of all marketing.
