So, what actually is CRM?
What does CRM stand for?
CRM is “Customer Relationship Management” - the strategy, channels and tactics you use to increase your customer lifetime value. The main channel for this is typically email, although all channels should be considering how to strengthen customer relationships when putting together the strategy.
Why should businesses focus on CRM?
Excellent CRM leads to increased repeat orders and better customer lifetime value. Often I’ve found businesses focus on the initial purchase but don’t have the same emphasis on the second purchase and beyond, leading to customer churn. If a brand wants long term success then CRM and the customer should be at the heart of the decision making.
How does it increase customer lifetime value?
Truly personalised communications increases relevancy for the customer and improves the likelihood of a sale. A customer may even buy more products or products with a higher value due to this. If a customer is happy with the products and service they receive from your business they’re likely to come back, so you’re cultivating loyalty. Loyal customers often recommend to their friends and family and in my experience a referred customer is likely to have a higher average order value and repeat rate than your average customer. Happy customer = loyal customer.
What channels does it cover?
Email marketing and marketing automation are the primary channels because of their ability to drive repeat orders and the flexibility to personalise the content, triggers and audience. However, if we think of building strong customer relationships this starts even before acquisition. I have worked with product teams on signup flows that capture robust, useful data to aid in personalisation onsite, in app and via marketing messages. I’ve worked with acquisition teams on attracting and converting leads. I’ve worked with content and social teams on ensuring we’re attracting the right customers for the brand by sharing insight on customer profiles. In my roles I have covered the in-app experience, push messages, direct mail, the onsite experience, loyalty schemes, referral programs and customer reviews. I’ve worked on marketing teams and more recently product teams as businesses begin to understand how embedded good CRM should be.
What is the difference between CRM and email marketing?
CRM is the concept and email is one of the channels. Email Marketing (your newsletters and sales emails) and Marketing Automation (your lifecycle flows and triggered emails) are a huge part of improving CRM as they’re one of the only channels we have where we can speak to a customer or lead directly whilst maintaining control. CRM is broader - with CRM you are considering all aspects of the customer journey and how to improve it. Some examples would be looking at the data captured and how it is used, the reporting and analysis and how that is implemented, how the channels are working together and how the customer is behaving.
What is a customer advocate?
The customer advocate is someone who aims to ensure that the customer is thoroughly considered in wider business decisions. Are we communicating effectively? Is there data we could be collecting now which makes the customer experience better later down the line? Have customers previously responded to this offer well? How do customers engage with this type of content? I also speak with customers either directly via video calls or through regular surveys and by reading reviews so we can understand the customer experience more thoroughly and where we can elevate. This is how I view my role.
How can Sunbeam Marketing help?
I can help you gain clarity and purpose with a CRM audit or Email Marketing audit - reviewing your existing flows and setups and offering impactful recommendations to help you elevate your existing comms and identify new opportunities. I can build out a further CRM strategy for you to either execute in house or work with me on for an ongoing period. Alternatively, I can work as a Fractional Head of CRM or CRM project consultant dependent on your business needs.