“CRM Marketing” is a broad term referring to both the technological systems and strategies and also to the technology supporting the implementation of those strategies and systems, that marketers utilize in order to deal with the client relationship throughout the client lifecycle. The acronym “CRM” stands for Customer Relationship Management. This is a relatively new term that started out as a collaboration of two very powerful industry giants: IBM and Oracle. CRM was born out of the need for more efficient ways to ensure better service and support to clients through the sales process.
There are many facets of CRM marketing. The first of these is segmentation. Segmenting your customers according to such things as their demographic profile, their purchasing history, what they do while they are shopping, and what they want to buy (or don’t want to buy) is essential to your marketing success. These segments can be broken down further by segmenting them by types such as age, geographic location, gender, social media interaction, frequency of shopping, level of education, etc…
Customers also need to be segmented according to how they interact with your brand via your website, via referrals, or via your company’s social media presence. Each of these interactions affects your sales and brand development in unique ways. Fortunately, today’s technology makes it much easier to conduct this analysis on an individual basis. Most companies only have one screen that displays all of the customer’s information. They can’t easily drill down and take note of each of these individual interactions separately. However, small growing companies can do this quickly and efficiently through web-based Customer Relationship Management (CRM) solutions provided by leading providers of online business CRM solutions.
Interactivity provides opportunities for identifying potential customers and generating interest in new leads. The interaction data generated by a Customer Relationship Management system can show you where customers are, who they are, when they last saw your brand, what their purchasing preferences are, and how often they call or visit your site. This information provides valuable insight into which offline activities generate the most interest in your brand and products. You can then implement campaigns that target those customers most likely to purchase your products or services. This can include mailings, coupons, special offers, discounts, and more.
Customer Relationship Management software also provides companies with the ability to segment their customer data for marketing campaigns based on their interactions with your company. You can segment your data based on characteristics such as age, sex, purchasing habits, purchasing power, industry preferences, and more. By using CRM systems, you can identify potential customers who are most likely to become future customers or to purchase your products and services.
CRM solutions provide businesses with the ability to conduct in-depth marketing campaigns that focus on each and every customer. You can create reports that tell you how many times each customer has visited your site, what their overall satisfaction rating is, where in the world they live, what their geographic location is, what they purchase more of and less of, and more. With these types of detailed reports, you can gain valuable insight into the purchasing decisions of every customer. These detailed CRM marketing campaigns are ideal for those in the financial industry who want to get a bird’ eye view of every customer’s financial activity.
You can also use email marketing campaigns and CRM software to track your inbound customer interactions. You can analyze data such as what keywords they used to search for your product or service when they visited your website, the number of times your offer was displayed on their screen, and even how long they stayed at your site. With all this data, you can use it to improve the design of your web pages or to make changes to your existing web pages to convert more visitors into buyers. You can also send a daily email to your contacts reminding them to buy something from you. CRM providers also allow you to track any promotional or classified advertisements that are currently running. CRM connects you to your customers, helps you manage your relationships, and lets you provide a great customer support experience.
CRM providers provide a simple and cost-effective way to engage with your customers and market to them on an ongoing basis. Its mission is to connect companies and their clients, so they can work together to make the customer relationship management marketing plan of the future. By staying connected to your customers and providing a great experience, CRM providers allow companies to increase their lifetime value and profits.