Customer relationship management, or CRM, is a marketing communications strategy geared toward the managing and facilitating of interactions with customers and potential sales prospects. As companies seek to increase their revenues, enhance productivity and improve customer interaction, a creative spin on relationship management has formed more integrated and organized customer service activities. CRM offers more efficient ways of nurturing customers already loyal to the company, while also utilizing technologies to introduce new customers on the Internet media platform that now defines the marketing world.
The expectations of consumers have risen dramatically. Given the immense power of the general population on the Internet, it is now up to media communicators to understand their audiences’ needs and wants and respond to them in real time. With the average rate of webpage retention of 5 seconds, partially due to all the unnecessary pop-ups on the Internet, many audiences have become weary of the content being displayed to them. Consumers are therefore looking for content tailored specifically to their needs and wants, so they do not feel as though they are simply being “sold something.” CRM offers a way to bypass this by fostering personal connections with customers.
CRM is the key to truly understanding your business’ consumer base, your most valuable audience and prospective consumers. According to Forrester Research, spending on customer relationship management is expected to top $11 billion annually by 2010 by companies, in hopes of finding, attracting and winning over new customers. There are 3 main ways in which CRM should be utilized and implemented into the communication tactics of your business: social media, marketing automation and consequently, email marketing.
Social media sites like Twitter, Facebook and LinkedIn have increased consumer advocacy in regard to the marketplace and are beginning to have a dominant impact on company and customer relationships. Since social media sites aren’t moderated or censored, individuals have created “user-generated content” where they are able to share their true opinions and experiences with various companies, products and services in an open and uninhibited manner. This not only provides marketers with the unique opportunity to gain insight on customer satisfaction with their products, but can also translate into sales by new customers who have received positive feedback on a company’s product or service. Recently, according to Inbound Marketing, over 40% of customers using Twitter, LinkedIn, Facebook and company blogs have generated a customer from that channel. By maintaining a company social media page, companies can respond to any consumer questions, complaints and concerns on a quick and personal level, which undoubtedly increases its reputation and profitability.
Marketing Automation is a vital tool in consumer relationship management. A part of this system controls CRM by maintaining lead and sale member status. As we have discussed in many blog posts and product offers, one key part of marketing automation capabilities allows you to track present and potential customers and communicate with them through personal, segmented messages in auto-blasts. Through the execution and measurement of multi-channel consumer marketing programs, marketing automation offers yet another way to cycle and address consumer concerns both successfully and professionally.
Email marketing is a key ingredient of marketing automation that even further maximizes the relationship with your customers. This type of relationship management offers a unique way to maintain and monitor your network of subscribers, while also allowing you to assess the clarity and success of your marketing messages. Email marketing systems, like Constant Contact or MailChimp, are valuable email marketing resources that allow you to upload all your contacts, archive mail content and send out email blasts easily and efficiently. Once an email blast is sent, these sites also provide you with comprehensive click-through and email statistics, including the number of sent, bounces, spam reports, Opt-outs, opens, clicks and forwards your email received. Since all to often consumer’s opt-out of emails they find irrelevant or resemble advertisements, this email tool allows you to assess the validity and success rate of your email blasts to your target market.
Building and maintaining an online presence in the marketing world is becoming increasingly competitive. As consumers are becoming more involved on the Internet, it crucial that companies listen and track user-generated content and provide a one-to-one marketing relationship with their customers. CRM is a key application for your overall success of marketing strategies and customer service.