MCIF or Marketing Customer Information File refers to a computerized filing system containing details and accounts of an organization’s existing customers. In simple terms, having MCIF is equivalent to having a full database of existing customer accounts and their associated relationships. The besting thing about getting a MCIF is that it not only provide basic account details but also relationship details that may indicate patterns on how or why a particular account is used. The information that can be sourced from the MCIF database can particularly be useful and helpful in the marketing of new products or services.
If a company has MCIF, it will have powerful information regarding customer accounts. Details about account relationships and profitability are very essential in pushing for update services or new products. Having this information can enable companies to specifically target the right customers for a particular product or service. In the case of loan customers for example, having details about the loan type and information may not be helpful enough in terms of knowing what the customers may possibly need in the future. Through MCIF more information can be extracted and studied in terms of why the loans are availed and how they are used. With these additional and essential details, companies will be able to serve the specific needs of their customers and get the chance to offer services that suit their customers’ profile. Instead of sending out generic marketing campaigns which typically get no response, MCIF helps pinpoint the right customer for the right product or service.
Through MCIF, companies can also effectively classify and group their customers based on their actual accounts, relationships, and needs. With this classification, marketing efforts will be more targeted and therefore yield better results. Companies can also take advantage of the computerized or digital organization of customer file and details as this will help in terms of data retrieval and tagging. If the MCIF is updated regularly, companies can also react better to the changing needs of customers. It is also through MCIF that companies can effectively pattern their future plans in terms of product development and marketing campaigns.