Irrespective of whether your business is a budding startup or an already established conglomerate, it is driven by customer relationships at its core. It doesn’t matter how cutting-edge your products are or how clever your solutions are if you don’t have a solid and lasting relationship with your consumers, to begin with. There’s simply no substitute for that. The present-day consumer is no longer susceptible to over-the-top marketing gimmicks. What they genuinely believe in now is – value proposition.
They are acutely aware of their requirements and expect companies to be open and transparent in their communication. These developments have increasingly shifted the onus onto marketers to deliver more tailored and customized communications. Sending emails that address users by their first names and offer them “crazy” discounts doesn’t cut it anymore. In other words, people don’t crave a brand anymore. They crave a friend—somebody who makes them feel heard and provides the solutions accordingly.
The question is, is it possible for brands and companies to deliver a user experience of such epic proportions? Yes, so long as they have that one currency at their disposal- detailed, curated, and insightful data. This is where CRM analytics come into the picture. Not only does it arm you with a deeper understanding of your customers, but it also helps you leverage this knowledge to delight them in every possible manner.
Leveraging CRM Analytics for Email Marketing
CRM analytics gives businesses the scope of staying on top of consumer demands and expectations, besides nurturing their customer relationships. These are things that any typical email marketing manager would want in their kitty as well. Integrating CRM analytics into their campaigns gives managers the scope of captivating their subscribers by sending out extremely tailored and insightful emails. Moreover, by providing them with real-time performance metrics, it helps them optimize their campaigns to the fullest. If you’ve been looking for ways to use CRM analytics to your campaign’s advantage then your search ends today. Read on to find out more about the various ways in which CRM analytics can boost your email marketing performance.
1. Segment Your Target Audience Effectively
It is a rule of thumb that you must segment your audience first before you consider launching a campaign. Thanks to CRM analytics, email marketing managers no longer have to sort their leads and customers into different buckets manually. What’s more, CRM analytics even empowers them to club together customers with specific interests and common factors. Some of the most common analytical parameters based on which CRM segments your audience are age, gender, location, and buying history.
Besides providing you with a comprehensive understanding of consumer demographics, CRM analytics also helps you monitor customer behavior across various digital channels. Consequently, this lets you streamline the segmentation process without breaking a sweat. The main idea is to use segmentation to effectively identify the different buckets and categories to which your customers belong. Once you have that information, you can sit together with your think tanks to chalk out campaign strategies that effectively target every individual bucket. Email campaigns fueled by hyper-segmentation have a proven history of contributing to increased customer acquisition, lead generation, customer retention, open rates, transactions, and of course, revenue.
2. Identify The Intent of Your Customers
We have good news and bad news. As is customary, we’ll go ahead with the bad one- not everyone in your subscriber list wants to buy your products. In retrospect, that’s more of a hard truth than bad news. But we had to state it anyway. Now, moving on to the good part- CRM analytics can help you identify the intent of your customers. In other words, it can tell you how likely a particular customer is to buy from you. One look at the analytics dashboard, and you’ll have everything you need to track the changing statuses of your leads. Exciting, right?
More than anything, the avenues that this functionality opens up for email marketing are immense. Knowing user intent lets you customize the content and pulse of your emails as necessary. Additionally, it also allows you to optimize the incentives that you declare via a particular campaign.
For instance, the batch of emails you send to your “highly interested” demographic might not be the same as the ones you send to your “moderately interested” category. Clearly, the former need only a slight nudging in their emails to go ahead with the purchase. In contrast, the latter might require more incentives to finalize their order, such as a discount or something similar. Hence, creating different email campaigns for customers with varying intents not only allows you to maximize your ROI but lets you save precious time and resources as well.
3. Achieve A High Degree of Personalization
In the present marketing scenario, personalization holds the key to customer relationships. As discussed earlier, “first-name” and “crazy discount” mails are no longer as exciting. Now, it’s time to use CRM analytics to take things to the next level (talk about strengthening your commitment!)
Remember we talked about segmentation a while ago? Actually, segmentation comes in incredibly handy while implementing personalization. The logic’s relatively straightforward. Once you segregate your audience into different buckets, it becomes that much easier to target their interests. But, CRM analytics is a lot more sophisticated than this. It also helps you see and understand the potential reasons that might be holding back your customers from making a purchase. This, in turn, gives you the liberty to craft email campaigns that specifically address these pain points.
The use of advanced personalization methods in your emails gives you an excellent opportunity to capture user attention as well as build solid and lasting customer relationships in the process. In essence, it makes your consumers feel more valued and fosters an unparalleled degree of assurance and loyalty.
Take a look at these great examples of personalized email from Spotify and Netflix.
4. Analyze Your Profitability
With the help of CRM analytics, you can quickly determine which portion of your target demographic is fetching you the maximum ROI. Segmentation coupled with inferences from the analytics dashboard allows businesses to spot their most profitable categories with ease. Further, it gives you the liberty to employ time metrics such as Customer Acquisition Cost (CAC) and Customer Lifetime Value (CLV) to effectively analyze and measure your profitability.
These factors enable marketers to accurately anticipate the amount of revenue that a particular customer can add to their business. Moreover, these insights also play a significant role in influencing the customer retention investments of a company.
5. Optimize Your Campaigns
CRM analytics paint an accurate picture of how your campaign is faring against customer expectations and existing marketplace atmospheres. They help you gain a detailed understanding of various aspects of your campaigns, including what kind of a response it evoked from your customers, which campaign triggered the highest conversions, which one drove the most engagements, and the sort.
These takeaways are nothing but actionable insights that help you optimize your campaigns and empower you to scale your email marketing performance to new, unexplored heights in the future.
When everyone is setting foot in a smarter tomorrow, why must your emails be any different? Integrating CRM analytics into your email marketing strategies allows you to deliver campaigns that are well-thought-out, highly informed, and meticulously planned. By making your emails more personal and relevant, CRM analytics play a pivotal role in improving your open rates and customer interactions. But above all else, they help your business earn the two currencies that matter most at the end of the day- revenue and customer loyalty.