What Will I Learn?
- 1 CRM Customer Data.
- 2 Where does CRM get data from?
- 3 What data is stored in CRM?
- 4 CRM data quality.
- 5 Using CRM Data for Marketing.
- 6 How do you create a CRM strategy?
CRM and Data are what make a Digital Marketing Plan successful, this is because data is the central point of customer relationship management and digital marketing. Data for CRM is gathered even before a prospect turns into a customer. This is because you need to gather enough data regarding your target market to match your products to your customers.
Data can be used to drive customer loyalty across your customer relationship management strategy conversion funnel, and your digital marketing strategy conversion funnels, for example, a person who has subscribed for an email contact list, has his or her data stored by the business, when the customer purchases products from the business their products choices are stored by the business and can be used for future email marketing strategies.
At some point the data shows they have started buying other types of products, the business can now use this data to cross-sell products to the customer, increasing the purchases made by a single customer in the store.
CRM Customer Data.
CRM Customer data includes details regarding your customer demographics, such as who they are, what they do, what they want, why they might choose your business over your competitors, their lifetime value, and why they might prefer to shop in your business over your competitors.
CRM Customer data can help a business create real value for its customer creating real value to the customers, thereby creating a returning customer to their business. The accessibility of the data when it’s needed is very crucial for your customer relationship strategy. The quality and the accessibility of the data in your databases are what make successful utilization of CRM data.
- When collecting CRM customer data, consider the following:
- The data collected for CRM should be commercially relevant.
- It’s important to get contact data from all customer touchpoints and business interactions.
- Any information requested by a customer and sent to a customer should be recorded and used in customer segmentation for accessibility purposes.
- It’s important to note all laws regarding customer data, especially data collected by an online business from the web since they are highly regulated. For example, when collecting contacts for your email marketing list you should be aware of email marketing laws that affect how you should collect data from emails.
Where does CRM get data from?
Valuable CRM data is gathered from various customer touchpoints, for example, traditional CRM system data, Data mining, Analytical Data, and Social Media Monitoring data. Each touchpoint is discussed in detail below:
What is a traditional CRM?
Traditional CRM systems are used by business owners to capture customer data across various touchpoints such as sales, support, and marketing. The businesses then create a central point for CRM data called a CRM Data Database. The data collected is based on the business owners’ CRM objectives. Traditional CRM data is used to collect:
- Customer demographics data such as age, gender, income, etc.
- Transactional data such as Purchases, orders, contracts, and invoices.
- Psychosocial data such as needs and wants.
- Records of messages sent and received.
- Customer reviews and surveys.
- Platform’s registrations records.
- Shipping and fulfillment dates.
What is data mining in CRM?
Data mining involves analyzing CRM data collected through various customer touchpoints in business processes to determine patterns and connections. Data mining occurs in businesses’ CRM data databases where large customer data is stored.
Business owners use statistical algorithms and look for data correlations. Data mining is used by businesses to understand their customers and use this data to improve their business processes. For example, you can use email marketing data to analyze when customers read your messages, the time they contact support or when they send inquiry emails.
Data analytics for CRM.
Data analytics for CRM is captured through specialized CRM software, they are mostly used in various digital marketing strategies, such as email marketing strategies, content marketing strategies, video marketing strategies, social media marketing strategies, and search engine marketing strategies.
Data analytics for CRM is normally analyzed based on the digital marketing strategies used by the businesses, for example, data analytics for CRM collected through email marketing can be pointless if the email marketing is not converting for the business.
Social media is used in CRM when businesses collect data from social media marketing and use them to monitor, measure and analyze customer data. Data collected through social media campaigns can be used to provide valuable customer insights that can be used to improve customer relationships with the business to foster customer loyalty.
Social media metrics for CRM can cover quantitative data about the number of followers of the business on various social media networks, and customer interactions on social media. Businesses can also gather qualitative data from social media campaigns such as the sentiment toward your business or the brand.
What data is stored in CRM?
Collecting and organizing data in a business CRM Customer database is very useful for business owners, typically in a small business CRM database you will find:
- One or more databases from various digital marketing strategies such as customer contacts database.
- A point-of-sale system where customer data regarding purchases is stored.
- Various forms of web metrics such as keywords used by customers, website traffic, platforms analytics, etc.
- Social media profiles of their customers e.g., Facebook, Twitter, LinkedIn, Pinterest, etc.
The best way to collate and organize customer data is through the use of CRM software. A CRM software can help business customer relationship management automation, CRM automation helps in automating leads and sales processes, and help collect customer data in a centralized CRM database. This allows the business to have a holistic view of customer insights.
CRM data quality.
It’s important to make sure CRM data quality is maintained and monitored frequently, stale, outdated, and unhealthy CRM data is not beneficial in any CRM strategy deployed by a business. You can use old data to figure out the current market trend and the changes in users’ needs and wants, but identifiable data should be up to date.
It’s important to note that customers might change their contacts, move from one house to another change their addresses, change jobs, get employed elsewhere change their incomes or stop working. This means that customer needs change based on some of these factors, so maintaining a customer relationship and updating customer data is critical in improving CRM data quality.
How to Improve CRM Data Quality.
For generic CRM data such as your online platform analytics, you must continuously monitor the trends and note what is causing changes in the trends over time, you can use Google Analytics and other traffic monitoring platforms.
Monitoring changes in trends for generic data will help your business identify gaps as the business grows or during your digital marketing campaigns. For example, if your business has high traffic during the holidays, but instantly your sales drop you should check on your inventory and in-store business processes during that time.
Identifiable data on the other hand means keeping in contact with customers existing in your CRM customer database. You should have a plan to update identifiable data on your CRM customer database through various customer touchpoints such as sales, support, and online services.
You can use CRM companies to improve your data quality, CRM services includes: CRM implementation, CRM testing, CRM support, and more. CRM services are provided by CRM companies through CRM consultants, CRM experts, and CRM technicians.
Using CRM Data for Marketing.
Before you can start using a CRM strategy for your business, you need to understand that there are different stages in the customer relationship management process. You can use a CRM strategy to analyze customer data from first impressions.
CRM data can be analyzed and used towards improving your business’s digital marketing efforts, CRM can improve your marketing campaigns conversions and business returns on its marketing campaigns. The key to the effective use of CRM in marketing is integration. Ensure that all customer touchpoints can be tracked and information used in marketing.
CRM digital marketing data is like the marketing analytics data you already have on your site. Analytics data is used to measure traffic, conversions, and other information. CRM digital marketing data is used to measure the effectiveness of your digital marketing activities, including email marketing, social media, and advertising. It can also be used to track the effectiveness of inbound marketing, such as content marketing.
Analyzing CRM data for marketing can be useful in a variety of ways:
Marketing Campaign Analysis: You can use CRM data from marketing to know which campaigns are converting and improving them to maximize returns on investments.
Products Personalization: You can use CRM and data to personalize your services and products, UX design of your platform to improve customer experience, this can foster brand loyalty and improve conversion through making use of return customers.
Business Events Monitoring: You can use CRM data to monitor business events occurring online and offline, by targeting campaigns such as sales and interactions and optimizing them.
Business Modelling: You can use CRM and data to predict customers’ future behaviors and meet their needs and wants ahead of time, this is called predictive modeling.
Customer Segmentation: You can use CRM data to segment customers based on their interactions with your business, this can be in sales, communication messages sent, contracts, etc.
How CRM can help in customer segmentation:
- Identify Customer lifetime value (CLV) ANALYSIS.
- Identify Advanced customer behaviors.
- Identify Customer prioritization.
- Identifying business influencers and advocates.
To create a CRM marketing strategy, you need to think about the following items:
- Who is your target market? Are you aiming for a certain type of customer?
- What do you want to achieve with your CRM marketing strategy?
What objectives do you want to achieve with your CRM marketing strategy?
- What type of content will you use in your CRM marketing strategy?
- How will you engage your target market?
What channels will you use to get the most out of your CRM marketing strategy?
Once you have your CRM marketing strategy mapped out, you need to evaluate the marketing strategy’s effectiveness. To make the best choice, you will need to see how well your strategy works.