CRM and Media Buying

According to a recent AdWeek article, “only 38% of marketers can separate prospects from existing customers”.  This is definitely a problem, one for which a CRM program and intuitive media buying can play a big role in fixing.

Depending on your business needs and your size and budget, what’s involved in implementing a CRM system can vary greatly.  For a small business, CRM could be as simple as employees keeping client books with information on current and prospective clients.  For a larger-scale operation it could be a complex data system where you store all customer information and track your sales team’s lead contacts. Assuming your business is outside of the infancy stages, you are likely leveraging some sort of CRM platform.  Some commonly known names are Zoho, Salesforce, and Microsoft Dynamics.  What’s important is what you do with the data that this data your CRM provides.  Are you using this important data in a way that actually helps the performance of your business?  Here are some ways to take action in the digital space and use the data and insights from your CRM to help your business. 

• Be open to new media buying tactics.  You have likely heard the term “programmatic buying”, thrown around recently.  Programmatic buying allows you to leverage data real time to reach consumers instantly based on their behavior, and it is catching on like wildfire.  Programmatic buying was at first only possible on the desktop. Now, according to a Magna Global report released last October, globally 68% of mobile display was traded programmatically in 2013 and is forecasted to rise to 88% by 2017. This approach allows you to reach consumers at the prime moment in their path to purchase, as well as provides the ability to reach them if they indicate interest but do not follow through with a purchase.  As Digiday cited in an article on the importance of marrying CRM to real time actions, “If CRM data is already implemented into an RTB-based campaign, impressions can be retargeted.  At its core, retargeting is the result of consumer intent. You’ve already made an investment in reaching this customer. Whether they’ve visited your mobile site or app, completed a form, or made a past purchase, make that investment pay dividends.”

• Training is key.  It is pointless to invest in a CRM platform if you don’t train your employees to use it properly and to its full potential.  Your salespeople should be well versed on how to enter current customers and transactions, as well as prospective clients and sales. If these future opportunities are well documented, it will give your salespeople the ability to target these consumers at times and in ways that are most relevant to them.  This will help you grow your business and increase revenue.

The days of the Rolodex and exchanging business cards over power lunches are over.  For a business to be successful in this digital age, leveraging new technology and costumer data is necessary.  An open-minded attitude towards new media buying practices and an investment in training your staff will ensure your business is successful.