A CRM is helpful for a business as it helps a business to build relationships with its customers. This leads to customer loyalty and customer retention. A business can nurture customers, and this means more profit for it. Customer relationship management is also important for sales as it can provide marketers with a better platform for customer engagement. A company can target certain products and services to the right customer. It will also help to organize marketing processes and regulate customer data. Given below are ways in which a CRM will help to improve marketing efforts.
Centralizes Customer Information
A CRM helps to understand the target audience better. When customer information is centralized, an organization gets a better picture of its customers and can track changes. When there is ample information about current customers and their preferences, targeted marketing campaigns can be created for new customers who have similar interests. The data also helps an organization to understand what the audience likes. The conversation-tracking capabilities of a CRM helps marketers to see what is working and what isn’t working. Open rates and response times can also be assessed to gauge the effectiveness of marketing campaigns. Customers can also be segmented into groups on the basis of demographics and activities. When customers are segmented on the basis of such data, customer profiles can be created. Marketing messages can then be personalized for the customer segments.
Track Leads from Source to Sale
Some conversions might appear mysterious, to unravel such mysteries, a CRM can help marketers to track leads when they move through the pipeline. When a lead moves from a landing page and is converted into a sale, it is evident that a landing page is effective as it results in conversions. If the landing page does not result in sales, it means that it needs improvement. This helps marketers to make decisions about which channels need improvement and which do not.
Create Targeted Campaigns
When certain products are purchased frequently by certain customers, it is easy to identify which products resonate with which customers. This information can be used to test the messaging of a product with the target audience. A CRM also records conversations between leads and the agents of an organization. For instance, a particular characteristic of a product may have popularized it with customers. This information can help to identify the benefits of a product while creating a targeted campaign.
A CRM can also be used to create a referral program. Emails can be sent to customers so that they are reminded and informed about the referral incentives. CRMs can also be used to track referral activity and how customers respond after they have been contacted. CRMs can help to reward club members with content that is relevant to them. Members will be engaged with a program even if they are not regular visitors to a website. The reward content can also be kept fresh so that customers are happy.
The author, Mike Paffmann is CEO of Virgo PR, a leading pr firm.