Recharge Your Customer Data
Increase sales by leveraging the power of your CRM data
Customer Relationship Management (CRM) software has become indispensable for both online and offline businesses. It’s likely that you have already collected a large amount of customer information from existing customers and prospects over time. However, sitting on a pile of data isn’t going to bring in revenue for your business.
Your information is only as good as how well it’s leveraged to engage with your customers and generate more sales. Here’s what you can do to boost your revenue using customer data:
1. Create targeted campaigns
Your data can give you unique insights into each individual customer’s demographic information, interests, preferences, location, browsing history, and purchasing behaviors enabling you to deliver targeted content and offers in the right place at the right time to maximize conversion.
For example, when a registered customer shows interest in a product but hasn’t placed an order, you can send an email with a special offer to entice them to complete the purchase.
According to Forrester, 30% of eCommerce repeat purchases come from email marketing. In addition, targeted campaigns can be delivered via social media, mobile app, and direct mail.
2. Improve customer service
Outstanding customer experience is the key to increasing conversion and boosting customer lifetime value.
When your customers contact your company through various touch points, such as website, social media, or email, the interactions can be recorded in the 360-degree customer profile. Your customer service representatives can use the information to construct a better picture of the customer’s history, pick up where they left off, and offer the most relevant and appropriate response.
3. Support personalization strategies
Personalization strategies have been proven to increase sales and conversion and become the priority of many marketing professionals. Your CRM data can inform a variety of personalization strategies on channels such as website, email, and social media by allowing you to:
- Offer personalized product recommendations on your website, a strategy that’s found to increase store revenue by 300%, conversion rate by 150%, and average order value by 50%.
- Use email personalization to deliver relevant and timely content or offers that’ll increase engagement and conversion.
- Combine customer data with retargeting campaigns, such as social media or Google Adwords, to drive customers to products they’ve already shown interest in.
4. Attract new prospects
People who share similar demographic profiles, preferences, browsing behaviors, or purchase history with your current customers are more likely to be interested in your products or services. You can use the data from existing customers to determine the audience of your marketing campaigns.
For instance, you can upload a list of existing customers and use it to target a “look-alike” audience for your Facebook ads. In addition, for many B2B companies or B2C merchants selling higher-priced products, lead scoring can be used to identify the most qualified prospects by comparing new leads against the attributes of your most valuable customers.
A powerful customer data management (CDM) system
The ability to leverage customer data starts with a powerful CDM system that allows you to create a single customer view and collect data from multiple touch points. You’ll then be able to leverage the unique preferences, brand interactions, and habits of customers to deliver the most timely and relevant omnichannel campaigns that’ll drive conversion and sales.