22 Oct Marketing with CRM insights – grow with your customers
Marketing with Customer Relationship Management (CRM) insights – grow with your customers
The more information you have about your customers, the more effective you can be in marketing to them. That’s where CRM comes in.
Important CRM data for marketing
Depending on the product or service and existing communication processes, businesses store a variety of data. Information such as business size, industry, age of business to purchases, responses to marketing campaigns previously sent, and specific areas of needs etc. The more information you have about your customers, the more effective you can be in marketing to them.
Have a look at the information you collect; compare that to the information that would help you market more effectively, and initiate a programme to gather the missing pieces.
CRM marketing for tailored communication
Customers respond well to organisations that understand their individual needs. One of the most powerful functions of CRM is the ability to set rules for communication designed for particular customers at certain times, or based on specific needs and circumstances.
For example, is there a time of year at which your client has a particular need that you can fulfil? Are there purchase thresholds you can set that trigger loyalty based pricing for top clients?
What would add a wow factor to the experience of different customer groups? Once you have identified these, establish a range of tailored email or other communication types and set your system to roll out as and when customers meet the pre-set criteria.
CRM marketing and your proposition
How your target customer responds to your offering – features, service, price etc – is one of the most valuable pieces of information available. Markets and needs change and new competition comes into the frame, so for all businesses it is essential to have a transparent view of how the business brand and offering is performing compared to the intended audiences’ needs.
By analysing existing customer and lost lead data, you can generate an accurate understanding of where your proposition is hitting the mark and where it isn’t. From there it is simply a case of understanding the why and what needs to change.
CRM marketing for direct marketing
Blanket letter and flyer campaigns simply don’t deliver adequate return. The only way to make the most of your marketing dollar with direct mail campaigns is to send different messages based on segmented needs. It might be the same or similar offer, but the return will be significantly stronger if the way the offer is communicated is tailored to defined segments of your customer base.
Take your CRM insights, define customer groups and tweak your campaign based on what particular groups of your database need to hear from your business.
There are many other applications of CRM in marketing. The key is to define the type of data that will deliver the information and insight you need to continue to attract the right customer and stay ahead of the competition.