CRM MARKETG STRATGY IN MARKETING MANAGEMENT.pptx

CRM MARKETG STRATEGY

1. CRM: A Strategy or Software? W.R.T AMAZON CRM refers to both a  strategy , as well as a  type of software  (or system) for enacting that strategy. So how do they fit together? Well, while a strategy will guide your approach to your customer relationships, a CRM system will help you implement it. We’re big advocates for CRM systems – and, that being so,  the CRM strategy will all require your business to be using CRM software to execute them to their full potential .

2. Pipeline management Pipeline management is  the process of overseeing all the activities conducted in your sales pipeline—from approaching a lead to closing a deal . Broadly speaking, it involves auditing every opportunity at each stage in your sales process and identifying bottlenecks that are leading to a lower conversion rate.

3. CRM Strategy Examples A CRM strategy centres around how you’ll acquire, sell to, re-engage, and retain your customers. It’s the foundation of your businesses growth and profits, but getting it right can be tricky. The cost of living has been increasing across the UK since 2021, and because this affects consumers’ spending abilities, businesses are getting hit hard. In fact, over 80% of businesses report that consumers’ buying behaviours have dramatically declined, leaving entrepreneurs and business owners facing dropping revenue and profits. This is why it’s so important to keep your customers engaged with and loyal to your brand, coming up with ways to sell to them and help them so they will continue doing business with you. Whether you’re launching a new in-store business or hoping to improve customer retention online, strategy is key to your success.

4. T he ten CRM strategies @ AMAZON various CRM strategies that AMAZON follows 1 . Customer Interaction and Behaviour Tracking 2. Loyalty and Rewards Programs 3. Tailored, Targeted Marketing 4. Data Cleansing and Deduplication 5. Sharper Stakeholder Reporting 6. Customer Relationship Identification 7. Customer Service Team Integration 8. Create Value-Added Content 9. Employee Empowerment and Autonomy 10. Inspiration from CRM's Biggest Names

5. 1. Customer interaction and behaviour tracking The first and foremost tenet of any good CRM strategy?  Knowing your customers . CRM software takes the guesswork out of tracking how prospects and deals find and interact with your business online. It also allows you to store a wide range of data about current clients, as well as those still being courted. Which ad did RAM click on? Did SURESH engage with your email, or leave it unread? Which social media platform is MALAA most likely to find you on?

6. 1. Customer interaction and behaviour tracking Once you’ve hooked your customers, CRM software then paves the way for you to get to know them a little better . And we don’t just mean their name, Email address, or Job title. Nope – we’re talking the date and nature of their last engagement with your brand, their previous orders, and their total spend – essentially, exactly what you need to target them with discounts tailored to their particular purchasing preferences. You can also  email, call, or ‘meet’ him through the CRM’s interface  – and any conversations you have with him will be recorded in the activity feed.

7. 2. Loyalty and rewards programs The Tesco Clubcard. Starbucks Rewards. The IKEA Family. Whether it’s tallying up Avios points or earning ourselves a free coffee, we all love being rewarded for our loyal custom. But is your business taking advantage of this powerful marketing tool? And how do you get started? CRM software is the easiest, most direct route to fostering customer loyalty . Whether it’s reaching out with a special birthday treat or following up to check on a recent purchase, CRM allows you to personalise and perfect the customer experience. And, by allowing your customers to accumulate digital currency when they buy, they’ll be more motivated to come back to you – and spend again. After all, why let those points go to waste?

8. 2. Loyalty and rewards programs VIB, or Very Important Beauty Insider  (you become a registered Beauty Insider member when you spend a minimum of $350 on fulfilled orders in one year;  and RougeGift Vouchers  (you get upgraded to this top tier when you spend a minimum of $1,000 on fulfilled orders of merchandise in one year. So,  the more you spend, the better the rewards  – and the greater the exclusivity. Better still,It nurtures customer loyalty and engagement through running an online forum. Here, its members can come together to discuss products, and share user-generated recommendations and advice.

9. 3. Tailored, targeted marketing So, you’re committed to customer interaction and behaviour tracking, with a customer loyalty strategy firmly in place. Now it’s time to get (even more) proactive – to start putting that data into use with  marketing campaigns that are hand-crafted to your audience . Here are four tips to help you build a CRM strategy around more effective marketing: a) Personalise your emails! Research suggests that  emails with personalised subject lines are  26% more likely  to be opened – and it’s not hard to see why. You’re already sending your customer an unsolicited email – the least you can do is address them by name! Plus, it makes it feel a bit less like bulk marketing (which, of course, it is), while adding a dash of the personal.

10. b) Segment your customers Marketing with a ‘one-size fits all’ kind of approach rarely succeeds. Because, naturally, what works for one customer won’t necessarily resonate with another. That’s why you need to segment your email lists. With the right  marketing CRM software , you can  sort your audience by demographic, purchase history, and personal preferences . This ensures the right messages always go to the right people, while helping you steer clear of any embarrassing slip-ups.

11. c) Be specific! Being specific about what you’re offering is key to good email marketing . It also helps reduce any mental strain on the reader, allowing you to get straight to the point. Take the following CRM strategy example I received during the Covid-19 pandemic:

12. This discount from ride-sharing app Bolt is an attention-grabber. I knew what the offer was, how many trips I could use it on, and where (and when) I could use it. The stipulations were clear and signposted, and I knew exactly where to go if I got stuck (the app).

13. Make it easy to unsubscribe This may sound counter-intuitive to what you’re trying to achieve, but it’s  hugely  important. Making it easy for your user to unsubscribe – ideally, by including a clearly visible link in the email footer – helps you  remain GDPR compliant , while minimizing annoyance to the reader. Aside from being the right thing to do, it also helps you  inspire trust and confidence in your brand , and avoid being ‘spammy’. Plus, it has benefits for your CRM database, too – clearing out users that are no longer engaged, and freeing up room for more lucrative prospects.

14. At its core, GDPR compliance means  an organization that falls within the scope of the General Data Protection Regulation (GDPR) meets the requirements for properly handling personal data as defined in the law . The GDPR outlines certain obligations organizations must follow which limit how personal data can be used.

15. 4. Data cleansing and deduplication Profits, prestige, power – as your business grows, lots of things will come your way, many of which you’ll enjoy. However, we’re guessing that increased media scrutiny  isn’t  one of them. That’s why you’ll want to avoid any high-profile mistakes when communicating with your customers. Attempting to sell a product to a customer you should have known was long-deceased, or addressing marketing emails to a married couple that split long ago? These pitfalls can cost you your reputation – and they’re surprisingly easy to fall into. Fortunately, these kind of errors can be avoided with the right CRM software.  By unifying your data into a single system, you avoid entries being duplicated across disparate systems.  Sensitive customer data will be easier to manage, cleanse, and regulate  – and you can be confident that you’re always working with the most accurate information.

16. 5. Sharper stakeholder reporting Stakeholders, shareholders, auditors. The media. If they have anything in common, it’s that they all expect you to be able to deliver an accurate, segmented view of your entire customer base – often at just a moment’s notice. And, let’s face it – no matter how much of an ‘Excel wizard’ you are, spreadsheets alone aren’t going to cut the mustard here. So what will? Pulling your range of business and customer data into a single place  – and allowing you to manipulate it via a series of online dashboards –  analytical CRM software  enables a new level of number-crunching. Reports are easy to generate, simple to export, and a breeze to read.

17. 6. Customer relationship identification When it comes to cultivating good customer relationships, simple  management  isn’t enough. You’ll need to  identify , too. That is, you’ll need to understand not only  your  relationships with your customers, but what professional or personal relationships they have with  each other , too. The right CRM software offers a holistic view of your customer database – allowing you to  identify where any need-to-know (and potentially profitable) connections occur between your clients . It also helps to know about personal connections, too. Being aware that a customer has two young children might be important for marketing purposes, for example. But it can also help you avoid major embarrassment – like sending inappropriate sales propositions to your clients’ kids.

18. 7. Customer service team integration Sure, your sales team can do a lot with  sales CRM software . Your marketing department, too. But for everything to perform at its peak, you’ll also need to keep your helpdesk staff in the loop. Fortunately, that’s easy to do. Your CRM system feeds info about any interactions or successes your sales and marketing teams have had with a client directly to your helpdesk  team. This allows the latter to quickly see what’s gone wrong – and how to fix it. After all, there’s nothing worse than being stuck on hold – bouncing from one helpdesk  agent to another, and having to explain your issue several times over. It’s bad service, and a  common CRM problem . So don’t fall prey to it! Use a CRM system instead. With everything they need at their disposal via the software’s unified,  cloud-based CRM  interface, your helpdesk team will be able to  handle issues, requests, and complaints with greater ease and professionalism .

19. 8. Value-added content creation We’ve discussed the benefits of email marketing – that is, reaching out to customers directly to sell to them. But what about people coming the other way? How do you attract, engage, and convert new,  inbound  customers to your website – and turn them from prospects into clients? The answer, of course, is content.  Whether it’s a blog, an innovative social media strategy, or a downloadable ebook or guide, you need to  offer your users something they can’t get elsewhere .

20. 8. Value-added content creation Publishing original content in unique formats – videos, infographics, case studies, whitepapers, tutorials – is an excellent route to establishing yourself as an authority in the eyes of your readers. It’s also a great way to offer them some genuinely entertaining, informative content (with a few call-to-actions along the way, of course!). Here’s where a CRM system comes in. As well as providing a  platform for you to create, curate, schedule, and publish original, SEO- optimised content , it integrates with your social media accounts, to simplify community management.

21. Let’s take this CRM strategy example from Salesforce. You can monitor keyword trends, review past social media post performance, and assess engagement levels – all from within a single interface. The software also  integrates with social media monitoring tools – keeping you forever in the loop as to what your customers are saying about your brand and industry.

22. 9. Employee empowerment and autonomy It’s simple arithmetic. Employees + empowerment = productivity. There are plenty of ways in which a CRM system can boost employee empowerment. It  breaks down data silos ,  fosters more efficient team collaboration , and  adds a layer of transparency to every interaction your sales, marketing, and customer service teams have with clients . Not only will your staff feel more accountable and independent, they’ll feel more confident – freed up to use the CRM tools and data at their disposal to make better decisions. All killer CRM strategies place an emphasis on the people behind the business, rather than solely the profit. So should yours.

23. 10. Inspiration from CRM’s big names When you’re all out of ideas, there’s nothing like turning to the biggest, most successful businesses in the world for inspiration. Let’s take a look at two: Amazon and Apple. Amazon’s CRM strategy is built around Prime, its premium subscription service. Prime is designed to personalise the entire purchasing process. Whether it’s sending you an offer for a product you were browsing, or encouraging you to revisit a forgotten shopping cart, Amazon has several CRM tricks up its sleeve.

24. Apple’s CRM strategy, meanwhile, is much more hands-off Led by founder and disruptor Steve Jobs, Apple famously eschewed market research and traditional customer loyalty programs. Instead, Apple built its brand around its products, with its CRM strategy stemming from how the Silicon Valley giant’s customers interact with its innovative inventions. Just think – thousands of videos exist online of Apple users ‘unboxing’ their new iPhone or Apple Watch. Elsewhere, Apple’s physical stores are a hub where potential customers can play and explore Apple’s range without the pressure to purchase – a monument to Apple’s playful, immersive approach to CRM strategy.