Enterprises have never before had a choice of so many high-performance sales and marketing software. Just a few years ago, marketing activities were bundled into one campaign. But now, many small campaigns are deployed with diverse target groups, instruments, and content to reach customers. The challenge: today’s customers are not interested in just being informed, they want to interact with enterprises – on a personalized level, via their favorite channel. Enterprises thus face the task of enlivening all marketing activities and campaigns via all possible channels. This is feasible with a marketing automation system – and you can bank on our experienced specialists to support you in setting up a customized solution on marketing automation.
Customer Journey Management – Targeted Contact based on Trigger
Constant advances in digitization for marketing demand that enterprises deploy ever more intelligent, efficient, and time-critical measures along their customer touch points. The decisive factor here is to contact your customer in a relevant and timely manner via the right channel (customer journey). This means that your enterprise must always consider the products you market, your target group segments, and how you execute your business strategy.
A marketing automation program helps you steer customer journeys and measure successes, thereby ensuring that you connect with the right customers at the right point in time via a suitable channel. This calls for concepts and technical solutions that allow optimum control of the marketing processes and resources under diverse scenarios and channels.
The host of currently available marketing automation programs basically flood your marketing department with a virtually endless set of functions, features, and modules. Often, these solutions demand IT expertise and knowledge of systems, databases, and technology that is typically not a part of your core competency as the marketer.
Hence, the programs do not reflect the real requirement of your marketing head, who is searching for a quickly deployable, user-friendly solution to connect with customers.
Key Functionalities of a Marketing Automation Program
The ideal marketing automation system should offer these functionalities:
- Multichannel capability: a marketing automation solution matched properly to your needs uses interfaces to integrate all channels that come into question for communications. This spans traditional direct marketing channels like emailing and telephony, push, Web, and social media platforms like Twitter, Facebook, Google, etc. Moreover, such a solution should support your customer service staff, for instance, with next best activity marketing services.
- Campaign programs/planning: multi-stage customer journeys allow you to achieve revenues not possible with single-level campaigns. The sequence of campaign steps taken – like contact, interest, reminder, purchase, and thanks – depends on how the customer reacts to the prior step.
- Response tracking: campaign managers view up-to-date responses on opening rates, click rates, product sales, or acceptance of services to assess the success of their campaign. The marketing automation program simultaneously calibrates the target groups dynamically for subsequent campaigns. Here, it is important to include both responders and non-responders when analyzing the level of success.
- Managing customer contacts: contact with the customer is the lever that determines your enterprise’s success, but it’s a scarce commodity that should not be taken lightly. It is crucial to minimize the risk of sending spam to your customer, otherwise after that he/she is not likely to take even good offers seriously. Integrated applications help your enterprise to identify the optimal time for contacting the customer via the best channel.
- Process support: a host of steps in a campaign need to be coordinated. Hence, a full-scale comprehensive solution to manage a campaign should use just one interface to map and handle the entire process – i.e., estimate of the potential, approval, selection, shipping, etc.
How to optimize your CRM System
What is CRM?
The underlying idea behind CRM (customer relationship management) is to distance yourself from mass marketing, and instead go for personalized treatment of each and every existing and prospective customer. This strategy focuses on systematically building up and managing sustained and profitable customer relationships in three dimensions:
- Communicative CRM refers to managing all communication channels between you and your customer to ensure that they are applied in a targeted manner.
- The aim of operative CRM is to contact customers, gain valuable information, and then cultivate it.
- Analytical CRM strives to systematically save and evaluate the data/information using BI techniques like data mining.
CRM to help optimize your enterprise’s processes
The operative facet of CRM acquires most of the data for assessment by the analytical facet of CRM. The newly gained knowledge flows back in the sense of closed-loop BI to help optimize your business processes. This knowledge is added to at least the following applications:
- Customer assessments
- Market segmentations
- Cross-selling and up-selling
- Follow-up in sales
- Development of customer self-services
Customer orientation, relationships, and improved processes
Especially in this age of digitization, it is critical for your enterprise to focus on customer relationships and intensive customer orientation. You cannot afford to overlook the human factor. The goal of your enterprise must be to retain the customers over the long-term. For sustainability, a part of your strategy should be to optimize customer relationships and related processes – because, customers, both new and current, are a central and valuable element of your enterprise.
Optimize processes to cuts costs and risks
Your enterprise needs to utilize processes, which are optimized in terms of the customer lifetime value (CLTV), to counteract the loss of current and future customer value, while cutting costs and risks:
- Customer acquisition and activation: CRM applications help you to resolutely optimize your enterprise’s customer orientation and the long-term thrust of customer relationships and processes. Accordingly, they enable you to satisfy potential customers and to reactivate current customers.
- Extend contracts and win back customers: count on b.telligent’s support to optimize the loyalty of your customers and win them back, while empowering you to fully exploit the great potential of such processes.
- Complaint management: as a part of your CRM program, the primary goal of your system to manage complaints is to make your customers happy again and minimize any negative impact on your enterprise.
- Manage the collection process: optimize your system for collection through standard automated processes, and achieve the maximum return on revenues at a relatively low cost.
Win new customers by optimizing lead management
A systematic lead management process is imperative for many enterprises, especially those in the B2C segment. This approach allows you to identify the online behavior of prospective customers, generate new contacts, and assess their relevance and potential value. While generating leads, you need to offer prospective customers interesting and useful content. A systematic lead management system optimizes the response rate, which eventually turns prospects into valuable customers.
Here, it is important to ensure customized and targeted contacts, made at the right time, via the right channel – online and offline. This marketing effort could be online, or via emailing, social media, search engine optimization (SEO), telephony, or by participating in trade fairs and events.
Permission Marketing to Bolster Your Image and Cut Costs
The consent of a customer to get in touch is a highly-valuable aspect of corporate communications. Essential elements of this approach include systems for administering, using, and maintaining the consent. A professionally designed database and Web-based permission management solution enable your enterprise to comply with data privacy laws, while avoiding negative effects – because permission marketing is predicated upon the customer granting her/his explicit consent to your marketing activities: i.e., marketing and advertising materials are sent to the customer only after receiving the explicit consent of the consumer.
The resulting higher level of transparency evokes greater trust in customers, which in turn leads to winning more customers and boosting loyalty. Moreover, optimized permission marketing cuts costs, for instance, from possible complaints and/or litigation. Also, since prospective and existing customers are not overwhelmed with unwelcome ads, your enterprise’s image also improves.
Next Best Activity – Customer Intelligence
Increasing competition poses ever greater challenges for enterprises. Next best activity (“NBA”) systems are a subpart of data science, and can be deployed to improve the effectiveness of your sales and marketing campaigns. NBA programs continually apply targeted data analyses to accurately identify the needs and preferences of your customers, thereby permitting you to easily focus on individual customers.
Scores help determine the product, channel, and campaign
Multichannel or omnichannel? Which product should be marketed under which campaign? NBA programs make it possible to answer such questions. They automatically generate a score from factors like the customer value and/or behavioral data. The resulting ranking in turn lets you select the best product, channel, and campaign for the respective customer.
An NBA approach to exploit the inherent potential
Through NBA programs, call center employees can push the envelope for upselling and cross-selling, and simultaneously boost the customer’s experience, satisfaction, and loyalty. In addition to automating marketing, NBA projects help your enterprise to enhance penetration with ads, leading to faster and more effective customer contacts.
Challenges in measuring success
It’s not easy to measure the success of a campaign. Even if a campaign appears great from an isolated standpoint, it could appear very different in reality. Also, campaigns being run simultaneously within your enterprise can lead to substitutions: the affected customer simply substitutes one product from your enterprise with another. Any measurement made has to account for this and other variables.
At b.telligent, we resolved this challenge with an intelligent solution by developing a concept deemed excellent by BARC. Basically, we apply statistical methods to easily determine if the rise in revenues stems from a particular campaign.
Measuring the success of a campaign
Your enterprise would presumably like to get a precise map of real reactions of customers to your campaign. Therefore, it is critical to analyze not only responders, but also non-responders. Hence, one takes a control group that is not contacted by the campaign, and compares it with customers contacted by the campaign. The revenues from the control group serve as the basis for evaluation. These are measurable for all product groups, and function as an indicator of your campaign’s success.
More benefits of success measurement
You can also apply the findings from measurements of success to plan future campaigns and marketing activities. Consequently, you can better distribute costs among various ad materials and mediums and connect with more customers.
Unfortunately, there is no off-the-shelf campaign management system that automatically delivers such reports on the success of campaigns. It is necessary to get assistance from external consultants/service providers to implement this in line with your enterprise’s internal data and process structures. At b.telligent, we possess the comprehensive expertise and technical knowledge to manage campaigns, and would be pleased to assist you with an intelligent concept to measure your campaign’s success.
b.telligent for successful Marketing Automation and CRM
As a consulting firm that is not tied to any particular technology, we can assist your enterprise with a customized marketing automation solution. You will benefit primarily from our expertise in customer intelligence, our business-process know-how, and our technical knowledge of the right software. Our portfolio of services spans the entire process: starting with evaluation of available marketing automation solutions, to implementation matched to your specific requirements, and support for planning, conception, and execution of customer touchpoints.
You also need to master numerous challenges upon introducing CRM processes. You need to determine the status quo objectively, define the CRM strategy to achieve your goals, and recognize that the CRM system must be focused on the core element here – customer-related processes.
We are CRM specialists not bound to any specific technology. Hence, you can depend on us to apply our experience and expertise in CRM systems to assist you with benchmarking to design the best CRM solution for your enterprise.
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