We’ve said it before, and we’ll say it again until we’re blue in the face: your CRM strategy is only as good as your data.
But, despite this, only about 4% of businesses make effective use of the data at their disposal. So, if you want to get to know your customers, deliver fantastic customer experiences, and set yourself apart from the competition, you need to use your data.
We’ve spoken a lot about effective CRM strategies and how the success of your customer relationship management ultimately relies on data – and with good reason.
Ultimately, your CRM strategy is only as good as your data. From data analysis used to review past campaign performance to data science to plan for the future, if you’re going to solve your marketing challenges, make intelligent, informed decisions, and deliver exceptional customer experiences, it all comes down to data.
According to a Gartner survey, around 50-70% or CRM projects result in losses.
We know. When you’ve spent such a significant amount of money implementing a CRM system, that’s the last thing you want to hear, especially when your main goals are to drive business wide growth and return on investment. So, what’s the solution?
If you want to drive customer loyalty, achieve customer retention, and ultimately, boost profitability, you need a CRM strategy.
A CRM strategy is the foundation of your customer relationship management. It’s a powerful tool that enables you to collect and use data to develop deeper relationships with your customers by putting the customer at the heart of everything you do.
You already know how important an effective CRM strategy is for your business. But what makes a great CRM strategy? And what do companies with the best CRM strategies have in common?
An effective CRM strategy enables you to keep track of your leads, identify opportunities, and improve your service.
Successful brands today build advocacy amongst their audience by delivering timely, relevant communications which recognise the needs of each individual customer and how they wish to be communicated with.
Or, to put it more simply, your customers have the power – and if you want to delight and excite your existing and potential customers, their unique needs should be front and centre of everything you do so that you can communicate with them in the right way, at the right time.
What is a CRM strategy and why do you need one? We’re glad you asked!
A CRM strategy is a powerful business tool that allows businesses to collect and use data to develop deeper relationships with their customers.
Your CRM strategy will essentially put the customer front and centre of everything you do, so you can deliver seamless customer journeys and interactions.
So, you’re struggling to manage the ever-increasing data your company is responsible for, it’s a challenge to keep up with legislation and you have concerns that you may be handling it in a non-compliant way.
Your brand is not alone, every company goes through similar struggles, particularly during times of growth where volume of data can reach unmanageable levels.
Companies have looming fears about the upcoming changes to cookies, the shift to first-party data over the use of third-party, and the amount and types of data they will be able to access and use for marketing purposes. But offering customers better control over how...
Data is everywhere, and chances are, your company has an abundance of it but you’re likely not utilising it to maximise it’s potential. One of the biggest mistakes a business can make is failing to put data at the heart of what they do. Your data is the key to...