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Impact Of CRM In Digital Marketing

 

Customer Relation Management (CRM) denotes the practices and the stratagems used by companies to manage, control and gain insights from customer interfaces and data during the lifespan of the maintaining customer relationship. Its main objective is to refine business rapport with the customers, support in customer retention, and motivate the sales boost.

Conventionally, the data that can be availed by the companies would have been narrow through the erstwhile dealings and interactions with the company. However, with the advance of multiple social media channels, the data that can be availed by the companies becomes enormous, and will have a vast effect on how you can provide better customer servicing.

Digital marketing and CRM

Digital Marketing can be a potent tool to help segregate customers based on their social media signals (likes, dislikes, preferences, opinions). What this brings to the table is a clear strategy to reach out common groups of customers with targeted marketing campaigns that not only appeal to their sensibilities but also help in eventual conversion from a casual prospect to a delighted customer.

The facts and figures received from the social media will be integrated with the already existing statistics with the CRM tools. This linking of data about the customers from the social media (Facebook, LinkedIn, Twitter, Google+, Yahoo pages etc.) will provide better insights to the companies and help them develop a more successful marketing messages that are targeted towards their psychographics.

Think that these are mere theories? Here we present a few startling numbers around CRM that denotes its criticality in the world of business

·         Industry experts Gartner predicts the global market for CRM will be worth $36.4 billion worldwide by 2017

·         CRM pays back$8.71 for every $1 spent (and this was in 2014) 

·         Adoption of CRM is better with bigger number of employees (91% of 11+ employees vs. 50% of <10 employees)

The monetary value, massive adoption and awe-inspiring RoI denotes the amount of confidence business owners have on CRM to deliver results that help them grow beyond their aspirations

Precautions for the organizations about the CRM digital marketing

Although CRM is very beneficial to the organizations, organizations need to be vigilant while dealing with the mounting volume of data available of their consumers and use them as per planned tactics.

Let’s take an actual instance of a US company which targeted expecting mothers. This company provided unique ID to every consumer and tracked down their transactions. Their employers tried understanding the purchasing pattern of these women. After applying scores of tests, the team was able to draw interesting insights on purchase behaviour and history. The organization’s team was also able to give an estimated due date of the pregnancy, with all the tests conducted. This company then started sending off some vouchers to the woman based on their pregnancy period.

An interesting incident happened when a father of a sixteen year old went complaining to the pharmacy that a voucher was given to her! The manager of the store apologized for it. But later, the father called up the head office and clarified that the pharmacy’s actions were legit because the girl was actually pregnant for a few months – something that the father didn’t knew but the pharmacy’s tests came to know!

Have any interesting anecdotes to share around the insights output by your CRM system? Do leave in your comments and let us know.

Team Intellika

Comments (1) -

Charles Wattson

Nowadays customers are very smart, they want conversation and engagement not a direct advertising message. Social CRM is a strategy for customer engagement  and  it provides better insights to the companies and help them develop a more successful marketing message.
For smart customers, you need to be smart marketers;  so smart marketers will see social CRM from a marketing, product development, PR perspective for maximizing their connection with customers.

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