3 ways to leverage CRM data to boost retail sales
Email marketing is a great way to keep loyal customers informed of the latest happenings with your brand. However, it’s not the only (and most popular) outlet. It’s no longer as simple as sending an email or buying advertising space, rather brands must change their customer relationship management (CRM) efforts and the way they speak to each consumer. The greatest challenge is understanding when they should, what they should, and how they should talk to each customer. David le Douarin at DigitalCommerce360 suggests to utilize other platforms in addition to email marketing. However, he warns not to use any or every platform available as it would be a waste of your marketing efforts. Instead, le Douarin suggests to Bring performance back with adapted CRM marketing efforts – understand your customers and know what interactions your audience prefers. Below are 3 ways he suggests to leverage your company’s CRM data to boost sales:
- Provide an answer to the drop in contact ability – Marketing teams must find new ways to reach out to customers other than their email lists. It’s the digital age and social media is the hottest thing around. By enabling your marketing team to push timely individualized messages to each customer on Facebook, Instagram or Google, brands can thus contact an average of 4X more individuals than they would have with a simple email campaign, increasing their ability to send their message.
- Provide a response to the decline in responsiveness – One way to counter the decline in email response is to identify why your are sending a message, to whom they want to convey it to, and the best way they would follow through with your call to action. Encourage the individual to click and go to the website to consider and prepare their purchase. Marketing actions must be taken as soon as possible in the current context of the consumer that we want to activate in order to introduce a relevant discourse that takes into account the offer proposed to them.
- An answer to lower conversion rate – Conversion is the most crucial since it carries the final value. Individualized marketing and personalization allow marketers to optimize the conversion rate of their campaigns by offering each of their customers the most relevant offers and products closest to their preferred needs. This includes recommending complementary or similar products. Product customization takes advantage of all the data available to retailers, who can, through artificial intelligence and models, predict the past or current behavior of the customer, what they are precisely interested in today and what could interest them tomorrow.
In order to understand the impact of your firm’s CRM actions, your team must better understand your customers’ new purchasing paths and communication mediums. Mass marketing was a great idea in it’s heyday, but we are now in the age of individualized marketing, so adjust your CRM efforts accordingly.
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