One to One Personalization – A Vision Worth Investing In
To realize the full potential of personalized CRM marketing, there’s probably still some progress that needs to be made within your marketing org…
Personalization has been the talk of the decade when it comes to customer marketing, and with good reason! Brands that adopt a truly personalized, customer-centric approach attribute 33% of their revenue to CRM marketing. However, personalization goes beyond placing a customer’s first and last name in an email or filling in their age in a display ad to grab their attention.
Mature CRM marketing executives and Marketing Team Leads learned that to establish a personalized relationship with their customers, they need to gain a deep understanding of who each customer is, what they want to encourage each customer to do, and the type of message they need to send to each one to achieve their objectives.
The Role of the Marketing Executive
To achieve a deep level of personalization, your team needs the ability to discover valuable insights about your customers, segment them into granular, homogenous micro-segments and deliver the appropriate message to each one. From a marketing perspective, by segmenting customers into specific micro-segments, your team can more easily determine the objective they would like each micro-segment to accomplish and deliver marketing campaigns that are expected to encourage them to do so.
You need to lead your marketing team to create a strategic, data-driven marketing plan that truly encourages customers to fulfill the objectives defined. You must look at the incremental uplift generated by your past campaigns to understand their impact. Gaining insight into the impact of each marketing initiative empowers marketers and your team to analyze which campaign worked well on each micro-segment, and which ones should be improved.
The Role of the Marketer in Your Team
As brands improve their ability to collect customer data, digest it, and display it in an actionable view, marketers are getting better at discovering valuable customer insights and are coming up with creative and effective ways to communicate personalized experiences that increase your customers’ lifetime value.
However, as marketers improve in their ability to create meaningful micro-segments and come up with unique ways to address them, they often go from tens of customer segments to hundreds or thousands of segments and corresponding campaigns. The more campaigns a brand has, the higher the ROI and customer lifetime value, but the harder it becomes to analyze, monitor, and strategize effectively.
As a result, instead of your team focusing on doing what they do best, which is crafting the most creative and effective campaign to each customer segment, they spend a significant portion of time in trying to decipher the effectiveness of their efforts. They also spend time making sure that your brand maintains a high-level of coverage to ensure all customers are communicated with while also avoiding message crossfire.
The Bottom Line
While creating unified and personalized customer experiences will maximize a brand’s ROI from CRM marketing, there’s still some progress that needs to be made to realize the full potential of personalized CRM marketing. Specifically, when it comes to the ability to easily analyze the performance of past campaigns as well as to monitor and strategize current and future campaigns, in order to accommodate the personalization of hundreds or thousands of customer experiences.
Stay tuned to see how Optimove comes in to support advanced marketers in their efforts to scale personalization while allowing the entire marketing organization to understand how campaigns are performing at any level.