What is external list management in SAP (CRM-MKT - Marketing)?

SAP Term: external list management

• Component: CRM-MKT

• Component Name: Marketing

• Description: The process of procuring, managing, using, and reporting on acquired external data. External data could include: Business partner addresses - for example, the name of an organization ora private individual, the postal code, city, and street Business partner relationship data - for example, person A is the contact person for organization B attributes for business partner data - for example, hobbies or occupation Business transactions-related information, such as activities and lead Survey details

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• Key Concepts: 
  External list management is a feature of the SAP CRM-MKT Marketing component that allows users to manage external lists of contacts, such as customers, prospects, and partners. It enables users to create, edit, and delete lists of contacts, as well as assign contacts to specific lists. It also allows users to segment contacts into different groups based on criteria such as location, industry, or other characteristics. 
  
  How to use it: 
  To use external list management in SAP CRM-MKT Marketing, users must first create a list of contacts. This can be done by importing an existing list from a file or manually entering contact information. Once the list is created, users can assign contacts to specific lists and segment them into different groups. Users can also edit and delete contacts from the list. 
  
  Tips & Tricks: 
  When creating a list of contacts in external list management, it is important to ensure that all contact information is accurate and up-to-date. This will help ensure that the list is effective and useful for marketing purposes. Additionally, it is important to regularly review and update the list to ensure that it remains relevant and accurate. 
  
  Related Information: 
  External list management is just one of the features available in SAP CRM-MKT Marketing. Other features include campaign management, lead management, and customer segmentation. Additionally, SAP CRM-MKT Marketing integrates with other SAP components such as SAP ERP and SAP HANA for a comprehensive marketing solution.