Developing a Content Marketing strategy is simple when you know whom you’re targeting and the only way to truly access that is through Customer Relationship Management (CRM).
You’ve heard the phrase, but what does it really mean?
My interpretation may differ slightly from Wikipedia, but to sum it up, CRM is the heartbeat of every sustainable business.
Managing customer relationships using Information Based Marketing (IBM) allows companies to identify new leads and retain existing customers, which consequently drives higher profit margins.
Research shows that the “average return on CRM is $8.71 for every dollar spent.”
Talk about ROI!
The strategy involves two key components, Analytical and Operational CRM.
Analytical CRM involves collecting and analyzing customer data and transforming it into communication that’s specific to your segmented audience.
What is Segmentation?
The process of dividing customers into groups based on relative characteristics. The information gathered from each group allows marketers to design and deliver more effective marketing campaigns.
Operational CRM drives IBM. It requires sophisticated technology that makes B2C interactions seamless.
Customers want convenience with a personalized touch, so how are you going to deliver?
Fast-growing companies are expanding their wallets for innovative systems.
“Spending on enterprise software is projected to reach $351 billion globally.” (Forbes)
Businesses on a smaller budget, however, are sticking to social media insights.
The bottom line is, the more you know your customer the better you can serve them. Happy customers are your most valuable assets but keeping them happy is a never-ending process. So get ready to test, tweak and repeat.
Remember, your brand is your promise.