Although CRM can be used to support marketing it is not a marketing tool in its own right.
What can CRM be used for in the world of marketing?
CRM actually sits very neatly in the world of marketing; it is designed to support the needs of the marketing team and enable improved results over business using marketing platforms independently. That is why we are starting to see Marketing platforms implement their own CRM offerings because it works.
Let’s look at a few of the ways CRM can be used to support marketing and what features it enables users to take advantage of.
The ability to segment your data to ensure the right message is sent.
Tracking behaviours and preferences to ensure you communicate with the right people in the right way.
Looking at the types of content people want to receive, allowing you to focus on content that will be viewed not deleted.
The ability to have a 360 view of the customer or prospects journey, ensuring you send correspondence at the right time, is often overlooked and can be detrimental if not taken into account, Sales teams may have active opportunities, the technical team may be working on cases, both of which will have an impact on how your message is received and how this may impact the business.
Track open rates of emails and conversion of these, not only looking at open rates but also, how many converted to leads, how many leads were turned into qualified opportunities, how many of these opportunities closed, and any future purchasing habits.
Tracking the ALV (average lifetime value) of your customers, letting you decide who you want to upsell and cross-sell to. Avoiding any customers who may cost you money instead of been profitable. Giving you a true reflection of how your marketing efforts are impacting your business.
Have inbuilt or integrate with email marketing software allowing for multiple types of email marketing.
Have inbuilt or integrate with text messaging software to follow up on marketing.
Have inbuilt or integrate with Survey software to learn what your prospects and customers think and want, allowing your business to become even better.
With so many people focusing on getting new business it’s important to remember that your existing clients are the ones that have gotten you to where you are now, you need to ensure that you are giving them the best experience you can.
These customers are often forgotten about in the race to find new leads, but cost less to upsell or cross-sell to, may often provide referrals or recommendations to people they know, all of which should also form part of your marketing strategy.
82% of companies agree that retention is cheaper than acquisition.
75% of consumers say they favor companies that offer rewards.
56% of customers stay loyal to brands which “get them.”
65% of a company’s business comes from existing customers.
Increasing customer retention by just 5% boosts profits by 25% to 95%.
58% of companies pursue personalization strategies for customer retention.
Stats above from 40 Amazing Customer Loyalty Statistics In 2021 (smallbizgenius.net)
If you want to know more about how CRM can help your business in all of the ways mentioned in this article, please feel free to send me an email and I will be more than happy to book a demonstration with you.
Our new ebook is also available for download so if you want to start looking at what questions you need to ask internally as part of your CRM search then click this link. If you are looking for your first CRM solution or you are looking to change provide this guide is a must-read.