CRM Marketing and Orchestration: Is Your Brand Behind or Ahead of the Curve?
Are you still stuck in technology siloes, batching and blasting your customers? Or, are you letting AI orchestrate your CRM journeys? Locate yourself, and your team – and learn where you need to go (Whitepaper)
If you’re reading this, then maybe you’ll be surprised to learn how many people in the “relationship” side of marketing – i.e., retention, loyalty, email, CRM, etc. – are still doing most of their customer communications by batching and blasting. How many of them are still not testing campaigns. How many are stuck with siloed technologies, and how very few are prioritizing journeys.
But that’s understandable. Digital marketing has only been around for a couple of decades, and up until a few years ago, almost everyone was still busy mastering and automatizing acquisition tactics.
This means that right now, the marketing community is still spread across the hype-cycle and the learning curve when it comes to doing CRM smartly.
As you can expect, some industries are way ahead of others. The digital-first, ultra-competitive landscape of online gaming is a great example for an industry that is completely and utterly invested in making the most out of each new customer. For them, increasing customer lifetime value is just as strategic as any other marketing element – from branding to acquisition and anything around.
And it’s easy to understand why.
First, the competition over new customers is only getting more challenging, and customer acquisition prices are only going up.
Secondly, as technology advancements in the B2C customer acquisition world have mostly flattened in recent years – in relationship marketing, the technology that exists now far exceeds the capabilities of martech solutions from mere 3-5 years ago.
With the ability to deal with historically large loads of data, execute hyper-personalized customer communications, and use AI to automatically map new CRM journeys for each and every customer in real-time, there is really no wonder why CRM campaigns’ ROI is 5-10 better than that of most acquisition campaigns.
Yes, that’s another incredibly significant reason why for many successful companies, CRM marketing is strategically equivalent to acquisition – the ROI.
It starts with having your customer’s email and phone number (almost always with their explicit permission to contact them via these channels for marketing purposes). Meaning, to send out CRM campaigns, you primarily use much less costly channels such as emails and text (compared to a more traditional way of running ads).
Then, the data comes in. The customer information brands possess – from demographic to behavioral, from historical to real-time data – combined with the right technology, allows them to send CAM marketing campaigns that are astonishingly more personalized than what any acquisition campaign could ever dream of being.
With less costly channels and more data – again, it’s really no wonder why CRM campaigns’ ROI is so superior to that of acquisition campaigns. It’s not really even a fair fight.
And, perhaps the newest most significant reason CRM marketing is still evolving is the constant changes and new restrictions inflicted on brands from data and privacy regulators. In the new cookieless/post-iOS14-privacy-changes world, the importance of owning and maximizing 1st party data was indeed never more business-critical.
With these ever-evolving challenges applied to customer acquisition, the need to increase customer lifetime value and growing revenue through your existing customers can be the difference between a losing and a winning business for many.
And so, it plain to see why CRM marketing is not only mission-critical but why it is also a rapidly evolving space that every growth-stiving business must stay on top of.
That’s why we came up with the CRM Evolution Curve – a cheat sheet that will allow you to locate yourself quickly and your team, judging where you are when compared to the advancements of the space, and understanding where you must go next (and what this “next” means and looks like).
Get a glimpse below – breaking down the evolution curve when it comes to orchestration, both from tech and execution standpoints.
You can find it all, including the cheatsheets for “segmentation,” “analysis,” and “time to market” in the downloadable whitepaper here, and immediately understand where you need to progress towards to survive the cruel natural selection environment of the CRM savanna.