The democratization of big data means today's marketers more equipped with a wealth of information about their customers' personal lives, history and buying habits. But it also means they're more pressured to leverage CRM to gain a competitive edge. Thanks to the Internet of Things and personalization technologies capturing customer data with minimal interaction is easier than ever. The information that's needed to monitor and utilize CRM data for optimized CX and enhanced brand-customer relationship is out there. According to Econsultancy, 94% of companies see personalization as the driving force for business success but 72% of companies say they don’t understand how to carry out personalization. The most common barriers to implementing a personalization strategy include lack of technology, or inability to translate data into action. So how can companies unlock the business value of customer data and use it to personalize their brand's message? Below we’ve compiled a list of the top 4 tips to rev up your company’s CRM data for a successful marketing engine.
1. Monitor & Analyze
Targeting the right consumer base and communicating the right information to them all starts with segmentation. Detailed demographics and consumer behavior analysis, such as clickstreams on the web, product usage, support tickets and calls-to-call-center provide companies with important insight into the consumer-journey planning and their consumers’ future needs. Getting to know your consumers on an intimate level can be tricky when there’s a screen involved.
Recommended: Learn who your customers are first. It's all about studying your customer base – their behavior, needs, usage and complaints
Monitoring who did what, when and where allows you to analyze your audience in detail. Mapping out who your customers are according to age, gender, usage trends and survey results is imperative for classifying who your customer base is and pre-defining them to a few main profiles. This segmentation process is a crucial first step to communicating with your customers on a more personal level.
2. Segment & Profile
Equipped with this analysis, you can create a few customer profiles that will guide you on the best way to approach each one. Take Millennials for example. This ultra-connected generation has their finger on the button. Clouded by today's digital spam and hard-wired for time, they crave authenticity, fast and resourceful information. If they contact you with a query be at their beck and call and respond instantly. If you don't answer their call within 30 seconds, they're more than likely to hang up and turn elsewhere.
Recommended: Prioritize Your Customers' Needs
If you know your average Millennial customer relishes speedy answers and they call you then simply giving them a priority in line of call center calls should be the value you bring to the customer service and CX. When approaching them through an email campaign, make sure your message is short, sweet and visually engaging.
3. It’s Time for Marketing Personalization
There's no time like the present for 1:1 communication. So what makes your customers tick and what makes them click?
- 42% of CTAs that are targeted to a specific user convert better than generic ones, according to HubSpot.
-74% of online consumers get frustrated when they receive offers, ads, or promotions that have nothing to do with their interests, according to Janrain Study.
Recommended: Personalize Your Communication
With advanced analytics you can identify your customers' digital steps. Knowing where they are and what they’re doing on the web is - CRM data goldmine. It allows you to serve each segment according to its profile, style, preferences and needs. With this you can match your offerings, promotions, images and even the best time to communicate with each individual customer.
4. Video & Personalization
The power of video is no secret. With Cisco's prediction that online video will make up 79% of all consumer Internet traffic by 2018 video gives marketers the communication firepower to emotionally hook their customers to their brand. If images are processed 60,000X faster than text then adopting a visual approach is the first step. If "a picture is worth 1,000 words and online video is worth 1.8 words" then with video you have to power to influence your customers' feelings about your brand and offerings.
Recommended: Personalized Video
Personalized video is the only channel that can completely simulate face-to-face communication. It summons the notion that there's another human being in the room, sitting next to you and talking to you.
Consider Dale Carnegie's famous phrase "a person’s name is to that person the sweetest and most important sound in any language" and now apply it to video. When you present a customer with a video that's bespoke to them - they hear their first name, see their picture or name on the screen and receive content that's relevant to them in relation to your brand, a valuable connection is made. CTA aside, providing customers with individualized content tailored to their needs and preferences is likely to induce brand affinity. By showing your customers you've pulled all the stops to understand them on such a personal level, they're more likely to believe you care about them. The effect of this is priceless and becomes the foundation for customer loyalty.
Personalized video is the only true digital form of effective 1:1 communication between an organization and its customers. Any implementation of a CRM data personalization strategy often means an upfront investment of time and resources to ensure success. But in the long run, such a strategy has a proven track record of driving down marketing costs, increasing customer engagement, and enhancing customer loyalty.