Content personalization in marketing is the key to winning the hearts of loyal customers. In fact, 78% of CMOs consider custom content to be the future of marketing while 86% of B2C marketers already apply this type of promotion. Why? Because personalized advertising allows organizations to effectively target current and potential consumers.
In its essence, personalized marketing is a powerful strategy which success depends on digital technology companies incorporating the right software to correctly analyze collected sensitive customer data.
In order for marketing to work and convert new leads, enterprises must be able to acquire as much personal information about their shoppers as possible. This is where the CRM system comes in handy, as it’s the number one tool organizations use to support business growth.
The business process management has changed in the last couple of years and according to bpm’online, CRM advertising enhances the collaboration with your customers and allows to develop personalized approach to each of them.
What is CRM Advertising?
From a simple software for managing the relationships with buyers, CRM grew into the most beneficial business software. Nowadays, CRM advertising is a powerful strategy with a focus on quality customer experience.
CRM software tracks and records all interactions with consumers throughout multiple channels. The obtained data are safely stored in one database on the cloud or on-premise.
Having said that, CRM advertising can do so much more than empowering brands with accurate customer insights. Actually, this system allows organizations to effectively target an audience via automated marketing campaigns.
How Does CRM Advertising Work?
To truly understand the capabilities of simple, yet efficient CRM advertising methods, we have to take a peek into to the recent customer retention statistics. While 80% of businesses count on email marketing for customer retention, the probability of selling to a current consumer is from 60 up to 70 percent. Unfortunately, the reality is that 80% of the company’s future income will come from only 20% of the customers.
To make matters worse, it costs 5% more to acquire a new buyer than to keep an existing one and even 16x more to get the new one to the same level the previous consumer had. Whereas just a two percent increase in customer retention can lower the overall costs by a whole 10%.
Why does this matter? Let’s say your business suffers from inactive users. Although they bought products or services in the past, these existing contacts have not responded or visited your site for a while. What do you do?
CRM advertising jumps to the rescue by luring patrons back to your network. How? By allowing marketers to create the ideal clients based on the material gathered in the CRM database from different sources.
The numbers don’t lie, as the eMarketer study proves that 53% people would likely purchase from a brand with whom they had a previous Facebook interaction. So not only is CRM advertising the best solution on the market, but it’s also a highly affordable option, considering businesses have to pay a small monthly or annual fee for its retention services.
What are the Benefits of CRM Advertising for Businesses?
CRM advertising is beneficial for small, medium, and high-operating organizations. The power is hidden in knowledge, and CRM marketers are armed with the most essential data that can leverage contacts from the central database.CRM system enables its users to do the following:
- Identify the target audience (names, gender, age, location).
- Discover personal preferences, history, and purchase patterns of consumers for specifying the marketing content.
- Develop impactful advertising campaigns that the audience is most likely to respond to.
- Encourage customers to make repeated purchases.
- Increase the end user retention rates on a global scale.
- Drive customers to a company’s website from commonly used social media platforms.
CRM is already referred to as the “new advertising” approach. Due to low costs and high retention marketing strategies, CRM advertising has the capacity to expand business operations by tightening the bond between a business and its customers.
And we all know that the backbone of every successful organization lies in the loyalty of satisfied consumers. Thus, the CRM system is the strength corporations need to preserve to gain new rock-solid leads.