“Both businesses and consumers can gain a lot from taking a data-driven approach to forge marketing and advertising campaigns. Data-driven solutions are essential when businesses choose to respond to the progressive needs of customers and their expectations for more personalized experiences,” – Emarsys.com
Electronic data and its enabling technologies have emerged as a force of nature in the modern world typified by ubiquitous electronic connectivity and massive online consumer activities. Brands and businesses are collecting and analysing heavy volumes of customer data every day through CRM systems in a bid to boost business outcomes. This appears to be a cogent strategy because consumers and customers generate masses of electronic footprints on the global Internet. Collecting and analysing this information can help to frame appropriate marketing strategies and enhance advertising ROI for marketers.
CRM data includes a multiplicity of information and data points pertaining to individual consumers. This information can be analysed and collated to help improve business relationships with customers and to cater to the particular requirements of each customer. These actions can encourage more customers to engage with a business enterprise and thus enhance advertising ROI. For instance, a firm that creates and markets computer code and software packages can bucket its customers based on their product and service preferences. The firm can leverage information from CRM systems to create said buckets and subsequently, create targeted marketing messages for each set of customers. Consumers typically react better to advertisements that cater to their unique demands and requirements. Hence, this approach, which hinges on cost-efficient and targeted marketing mechanisms, creates incremental opportunities for said firm to enhance advertising ROI.
Modern businesses can actively work to convert market leads into sales opportunities by leveraging data residing inside CRM systems. For instance, said data may point to the fact that a certain set of customers have indicated interest in new products that carry inaugural discounts. This is vital information and represents an important set of leads. Marketers and business managers can leverage this information to create customised sales pitches aimed at said customers. The chances of conversion remain high and signal significant sales opportunities. Further, a certain subset of customers may be interested in future transactions and this amplifies the scope of said ROI. In a similar vein, customers that are interested in non-branded pieces of merchandise can be offered specialised marketing communication in a bid to capture their dollars. We may note that this instance represents a classic case of leveraging CRM data to enhance advertising ROI.
A customer’s purchase history offers significant potential for businesses that remain interested to enhance advertising ROI. We note that modern e-commerce operators and online businesses closely track information pertaining to purchase histories. The perusal of such information affords commerce an ability to read the customer’s mind and create a basket of products or services that may pique the interest of said customer. Discounts, promotions, and advertisements are some of the devices that can encourage said customer to shop more frequently. These devices may be communicated through email and thereby enhance advertising ROI for the concerned business. We note that the discounts and promotions must be visually attractive to capture the curiosity of the customer and trigger rapid purchase decisions.
High-value customers represent priceless opportunities for businesses that are interested in cross selling and up selling opportunities. These customers can be identified through processes driven by mining multiple silos of CRM data. These silos include purchase histories, total value of goods purchased, frequency of online visits, browsing patterns and activities, etc. We note that these data points can be effectively melded to create a comprehensive profile of each high-value customer. Subsequently, marketing communication strategies can help to ensure continuing custom from such consumers. These actions enable businesses to create sensitive and relevant messages. Further, businesses can work to create special offers and privileged shopping perks aimed at these customers with a view to enhance advertising ROI.
The work and home addresses of customers find prominent presence in the CRM data collected and compiled by commercial enterprises. This information can be systematically surveyed and analysed in a bid to create bespoke marketing communication that is targeted at a certain geographic or municipal zone. For instance, businesses can choose to market water sports equipment to consumers and business prospects that dwell in seaside towns. Similarly, CRM data can be harnessed to address advertising materials to populations that reside in high-density urban areas. We must note that these tactics enhance advertising ROI by helping businesses to create highly relevant and focused advertising campaigns. That said, consumers that work in central business districts can be targeted with discounted lunch coupons in a bid to address their work-life balance. All these strategies can be further refined and re-focused using evolving customer data, thereby amplifying a business’s chances to enhance advertising ROI.
Human beings prize creativity and therefore, brands and businesses must strategize to infuse a certain old world charm in select marketing campaigns. This approach to selling can target customers of niche products, senior citizens, customers that live in semi-urban areas, etc. The interested business enterprise can extract data from commercially available CRM databases to arrive at a list of consumers that meet these attributes. Subsequently, creatively designed newsletters can be sent to these consumers through traditional ‘snail mail’. No two customers are the same but this approach may enable businesses to enhance advertising ROI through innovative marketing campaigns. The higher sales of certain advertised pieces of merchandise can testify to the success of this selling strategy.
Businesses can customise email-based advertising campaigns keeping in mind the various customer personas. Businesses can segment their audiences into various personas, such as students, high spenders, top executives, frequent shoppers, deal chasers, etc. These personas enable businesses to form a complete picture of each persona and enhance advertising ROI by creating customised emails that centre on a key value proposition. We must note that the personas must be expertly profiled because errors can backfire and degrade the outcomes of expensive marketing campaigns. Therefore, businesses must investigate the behaviour of each persona and isolate the selling triggers that enable consumption. These streams of information must help to create the marketing communications that will enhance advertising ROI.
In the preceding text, we have examined a few techniques that enable businesses to use CRM data in the interests of enhancing advertising ROI. Every brand and business must ensure that its advertising and marketing campaigns stay relevant to diverse customer segments. This ensures that the correct message is targeted at the correct customer. Campaigns must combine creative effort, data, and media in a bid to extract the maximum mileage for an advertisement campaign. Further, businesses must invest time and effort to segment their customer intelligently and to devise marketing strategies for each customer segment. That said, we note that the modern preponderance of multiple devices and multiple customer touch points should inform and enlighten the creation of customer engagement campaigns. In addition, brands and businesses must work to include the human element in every marketing communication in a bid to heighten the relevance of such activities. A humanised communication attracts customer attention faster than cut-and-dried messages. These actions will enable businesses to target customers precisely, thereby boosting the chances of attaining favourable business outcomes.