The success of a campaign is judged on the basis of the buzz it creates, volume of sales that follow and popularity with online communities. In today's connected world, marketing is more challenging - real-time inputs are a must to compete with other brands and prevent churn. Knowing everything 'required' about individuals/ organizations and a little more can ensure successful customer segmentation - allowing clarity for whom to target with which campaigns.
While many CRM solutions are adopted on piecemeal basis by many companies (targeting individual departments); looking at the bigger picture, instead, seems to have generated additional gains for worldly-wise organizations. These businesses have not attempted to revolutionize individual segments of marketing, but have instead integrated their entire department to the CRM solution. In the process, not only have they managed to garner more hot leads but have also heralded significant improvements in various elements of their marketing campaigns.
An analysis of 5 ways CRM solutions can increase the effectiveness campaigns:
Email marketing campaigns that exude success: emails are one of the most engaging techniques of communicating with prospects and customers. However, there are chances of getting it all wrong. With the help of CRM solutions, though, marketing teams can send auto-populated personalized emails that can even mention the customer's cat in context to a campaign. Mailing lists can be created based on customer segments and further filtered for a specific email campaign. In addition, the CRM solution will demonstrate through real-time analytics where there is room for improvement.
Effective segmentation: most gurus of marketing believe that loyal customers are an asset to have, businesses have offered special treatment to customers who have purchased more frequently than the others. However, a modern bone of contention has been that businesses spend more to 'retain' loyalty than they 'earn' from it! An effective CRM solution will ensure all the relevant data required related to customers is captured as per a particular organization's segmentation strategy. Also, should the strategy change, new fields for customer information can be created through the CRM toolbox. This is the first step in efficiently and accurately creating customer segments. The holistic customer view can help measure a customer's profitability without missing out on others they might have influenced. It becomes faster and easier to pinpoint those who deserve more focus and then create bespoke campaigns to match their interests.
The influence of social networks: social networking is progressively growing in popularity - Pinterest is the latest highly successful entrant in the crowded networking world. Some old fashioned marketers still believe the most important customers are those that buy the most. Often, individuals with a positive customer experience will encourage others to buy a specific brand (word-of-mouth marketing) and thereby vastly improve a brands popularity. Tracking these customers using social CRM and other CRM tools to analyse their opinions is also vital for creating optimal marketing strategies and maximizing customer advocacy. Social networks are also ideal for creating quick campaigns - tweeting that a superstar purchased your product will generate exponential growth in leads.
Effective activity management: most people have had the irritating experience of multiple tele-callers offering the same product in a single day. This lack of organizational coordination can dent the image of a company and sometimes increase customer churn. It might not be the product offered through a new campaign, but, if a person is in the middle of a meeting or meal - he does not want to hear a sales pitch! A CRM solution's easy-to-use activity management and holistic customer view with varying read/ write permissions based on roles can ensure everybody is on the same page. Also, instantly adding a contact to your CRM software's DND (Do Not Disturb) list for a specific period or capturing a specific reason for not interacting with a customer will help redesign campaigns.
Identifying products based on customer needs: With the help of the information that is available about customers and their purchase behaviour, marketers can identify and capture opportunities for cross selling and up selling products most suited to a person's needs. In addition, using available customer information, specialist can identify the appropriate product and most relevant location to run a campaign. These products can be displayed to CRM users when interacting with leads and customers to facilitate offering the most suitable products and services across departments.
C-level executives are quickly realizing the value of effective marketing campaigns and their effect on generating larger volumes of hot leads through viral video campaigns, tweets or tailored offerings. An effective CRM solution is a cost-effective way to expedite connecting, tracking and monitoring customer needs to generate successful campaigns.