3 Ways CRM Solutions can Support Dynamic Marketing Campaigns

Dynamic marketing can be defined as a “real-time” form of marketing - interactive, personalized, and targeted directly to the right customer at the right time. By collating real-time customer information from various sources, CRM solutions can prove to be highly effective to support this marketing initiative.

Why Dynamic Marketing?
When used correctly, dynamic marketing provides the seller’s organization with several key advantages.
1. Relevancy – dynamic marketing focuses on the relevance of the product or promotion to the correct consumer.
2. Reduced Cost – with dynamic marketing the organization is able to produce highly relevant and personalized advertising for on-line campaigns.
3. Exponential Returns – with dynamic marketing, the Return on Advertising Spend (ROAS) can be improved by the ability to quickly adjust advertising as opposed to static advertising (print media) or broadcast advertising (television and radio).

These three 'R's of dynamic marketing allow an organization to execute campaigns across multiple channels – web, mobile networks, and social media – using a common marketing theme. Thus, allowing for the delivery of the message in a creative and interactive format.

3 ways in which CRM solutions can help to execute Dynamic Marketing
First, the system allows the organization to focus a dynamic marketing program on the prospects with a higher probability to make a purchase. Taking the time to analyze the current customer base to understand what key attributes are shared allows for the identification of what makes them the most probable buyer. Using this information high number of personalised offers can be generated automatically and surfaced to the customer or the customer facing teams. This can increase your cross selling ratio exponentially.

Second, the system allows for the increase of customer perceived benefits by offering them opportunities designed as per their buying behaviour. For example, if analysis shows that a group of customer buys multiple products if clubbed together at a discounted rate, the organization can dynamically market to this group packages at a discounted rate – increasing sales volumes while the perception to the customer is a savings of both time (in multiple purchases = fewer distinct orders) and money (multiple purchases = discount). Another example is the movement of overstocked items by offering “select” customers a discount if purchasing prior to a set date. Again, the perception to the customer is the discounted price, while the benefit to the organization is the movement of merchandise.

Third, CRM solutions allow for quick and effective follow up. By following up with prospects or current customers, the organization provides a sense of importance to the customer. Follow ups can be in the form of a thank you for a purchase, the offer of a new product relevant to the customer based on their buying patterns or can be simply to provide pertinent information. If a follow up is an “information only” message, the organization must be sure that the message is not only germane but that it is free of charge.

As the market place becomes increasingly competitive, the need for dynamic marketing management solutions becomes more imperative. Dynamic marketing with a CRM solution is easy to facilitate, highly effective and can be implemented with little or no additional cost to the organization.