CRM Hack: The Building Blocks of a CRM Strategy
Watch: how to target your customers wisely using lifecycle stages
Different customer lifecycle stages should have different objectives, right? You need to treat customers in each group to separate promotions, offers, and communication frequencies to continue exciting them and adequately engage with them over time.
To easily monitor and measure KPIs along the way, it’s much easier to automate your entire customer base when you have a lifecycle-first strategy in place as it ensures optimal coverage rates.
So, how do you go about planning a lifecycle-first strategy? Watch the 3-minute video or read the transcript just below it to find out!
Establishing objectives per lifecycle
You want to make sure to retain new customers and overcome the challenge of a single purchase or single deposit. You also want to build brand awareness and educate your customers about your product. And finally, expose them to the promotions you run.
With active customers, you want to retain them too, but you also want to maximize their value by implementing upsell and cross-sell strategies.
The goal is to re-active your churned customers and bring them back to your platform to use your product or service.
The strategy should mix automated cycles, behavior-based, and ad-hoc events.
These campaigns that are sent on a predefined recurring basis should be the majority of campaigns that your customers receive.
These campaigns are sent following a specific action that your clients take.
These campaigns are very time-sensitive and are usually sent around holidays, special events, announcements, etc. They should not be automated.
That’s it! These are the fundamentals of a marketing plan. Remember, when planning a strategy: Always use your common sense, best practices, campaigns that have worked in the past, and tailored analysis to get to data-driven decisions.
For more details, please reach out to us – the Optimove Strategic Services team – as we have a lot more to give:
Don’t miss out on our previous CRM hacks from Optimove experts:
- VIP Definition
- Campaign Prioritization
- Basic Segmentation to Personalization
- Going Beyond Personalization Tags
- Marketing Plan Objectives and Principles
- Using Realtime Marketing to Improve Conversion
- Monitoring the User’s Heartbeat
- The Hidden Data of Emails
- Customer Tier and RFM Segmentation
- Cross-Selling Between Platforms
- CRM Hack: Cross-Sell Principles
- Gamifying CRM Campaigns
- Measuring the Right KPIs
- Repurposing Content
- Marketing Campaign Optimization
- Lifecycle Based Campaigns
- Testing and Evaluating CRM Strategy