CRM Hack: The “Power Measures” You Must Know
Straight from the experts: Watch three recommended power measures to use to target your customers wisely
We all want to receive a true reflection of our customers’ status and behavior. “Power Measures,” or personalized attributes, help businesses understand your target audience so that you can create more enticing campaigns.
Using power measures in CRM enables marketers to generate hyper-personalized targeting and relevant communications with customers – at a sophisticated level.
Want a few examples of recommended power measures to use from Optimove experts? Watch the 4-minute video or read the transcript below:
1. Churn Factor
Identifying churn is one of every companies’ main challenges. Most identify this customer segment by a predetermined number of days that they haven’t been active for.
But can one fixture apply to all your customers, given they portray different behaviors?
At Optimove, we recommend using the Churn Factor instead:
The individual criterion of how many expected activity days have been missed since the last activity date.
2. Remaining Bet Factor (Gaming/Sports)
Many operators target the customer by sending out comms that remind them of the balance remaining in their account. Those who don’t have a current balance are sent comms that entice them to deposit again.
But what if a player has only a couple of dollars left in their account, would that be considered a balance?
At Optimove, we suggest looking at the Remaining Bet Factor to answer this:
A better representation of a customer’s ability or willingness to bet rather than simply looking at his/her current balance.
3. Change in Activity
Optimove experts describe this as an indicator that allows you to easily identify customers who made a purchase with a higher/lower amount than usual in the last month.
You can look at the changes in your customer’s activity in different time frames like the last week, month, or even months – depending on what you want to achieve. Either way, each customer needs to be treated differently based on their recent activity in relation to their usual activity.
These are just three examples of recommended power measures to use to receive a true reflection of your customers’ status and behavior.
For more details, reach out to us – the Optimove Strategic Services team – as we have a lot more to give.
Strategic Services Team: firstname.lastname@example.org
Sales Team: email@example.com
Don’t miss out on our previous CRM hacks from Optimove experts:
- How to Make Your Dashboard Insightful
- The Building Blocks of a CRM Strategy
- 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