A few years ago, Gartner predicted the CRM market would grow from $18 billion to $36.5 billion in 2017. This heavy and steady investment makes total sense seeing as customer satisfaction and loyalty is the lifeblood of any business. But with all that money being pumped into CRM, why is the data so often trapped in a silo and limited to only sales and direct marketing efforts? In the wake of constant budget revisions and heightened pressures to prove ROI, marketers must ask themselves:
“Are we really making the most of what we already have?”
The reality is CRM data is constantly being funneled into the obvious email marketing, telemarketing, and direct mailers; but only recently have grander visions of CRM potential started to spill “outside the box”. Here are a few creative ways marketers can leverage CRM data that might surprise you:
- Capitalizing on Event Sponsorships
Event sponsorships are a massive branding opportunity, with a massive price tag to match. So why not start there as you work your way towards optimizing marketing ROI? For example, large enterprise brands that pay an arm and a leg to sponsor music festivals like Coachella or sporting events like the U.S. Open should consider looking for alternative ways to target event attendees with messages and offers that enhance the brand experience.If you’re wondering where CRM data comes in, you’re in for a treat! Location data providers, like NinthDecimal, can help you identify people that physically attended events for extended brand engagement, and you can even onboard CRM data to narrow your audience down to only customers or non-customers that attended. With brand recognition at an all-time high, a few well-timed, targeted ads will help you remain top-of-mind with event goers and maximize your investment.
- Online AND Offline Retargeting
Email and display ads have a serious stronghold on website retargeting. But let’s not forget consumers are mobile (in more ways than one). While people almost instinctively browse and research online before making a purchase these days, they still do most of their shopping in stores. In fact, Forrester predicts 88% of purchases will be made in physical stores this year. For the many marketers that have seen success with site and abandon-cart retargeting, consider integrating location data into the mix so you can curate audiences of people that have visited your physical stores… Layer in your site visitors, and find yourself capitalizing on an ideal pool of people ready to convert with the snap of discount.
Businesses that thrive beat out the competition, which is why we developed a custom audience targeting package specifically for conquesting campaigns. Here’s how the solution works in three simple steps:
- Tell us who your customers are (onboard CRM data).
- Once you do, we can identify the customers that have visited competitor locations through or audience platform, Location Graph™.
- As soon as the audience segments are created, we work together to reach those cross-over customers with the perfect win-back campaign.
Remember, collecting customer data is a standard best practice most marketers are already taking advantage of in one form or another. Integrating that information with data from other sources, however, will catapult you to the next level of marketing sophistication where targeting is based on a more holistic view of customer behavior and interactions with competitors.
This article illustrates just a few ways marketers can enhance CRM data for effective people-based marketing, but it’s important to experiment with the data combinations and applications that work best for your business. The possibilities are endless, so never stop exploring J