Charles Darwin’s insights into the “survival of the fittest” evolution theory changed everything – from how we look at life to how we do business to the way we market to customers. It’s no secret that customers’ expectations have changed dramatically over the past few years due to the evolution of the customer journey. So, what does it mean to be “fit” in today’s business environment?
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In my experience working with Minnesota companies, survival as a marketer is based on one important theory: Evolving along with your customers. As customers grow and change, your strategy in how you deliver experiences to them must also change. In fact, according to the CMO Council, 70 percent of buying experiences are based on how a customer perceives a company’s treatment of them.
A marketer’s ability to provide a personalized customer experience depends on the quality, accessibility and relevance of your customer data, which includes their history with your company. While there’s no one-size-fits-all solution on how to do this, the next best thing is a customer relationship management (CRM) solution that’s tightly integrated in an ecosystem of customer-facing platforms like .com websites, marketing automation tools, contact center solutions or mobile applications. Across all of that, CRM can be a customer data platform that manages and analyzes customer interactions and data throughout the life cycle. The right CRM can also help marketers:
- Improve customer satisfaction and retention,
- Streamline workflows and processes,
- Enhance the operational efficiency of working with sales teams to close leads, and
- Target lists of customers/prospects for nurture activities depending on relationship stage.
- Plus, HR loves it for employee retention!
However, like any new technology solution, if not executed properly, CRM solutions can be disruptive, costly and ineffective. First and foremost, just purchasing a new technology tool isn’t enough – you also need a well thought out strategy. Fortunately, this can be done by selecting the right CRM partner for your company to manage change and ensure adoption of the new tools across departments.
The right partner will also help marketers strategize and execute on the three P’s of customer centricity: proactive marketing, personalized support, and predictive sales. Using these principles can help companies ensure they are delivering the most effective marketing by appealing directly to and addressing a customer’s motivations, goals and challenges. This approach is essential to building long-term relationships and driving customer loyalty.
If you’re ready to think differently about your business and are ready to evolve your marketing strategy, explore these concepts and more by downloading our e-book: How to Make Your CRM Indispensible to Sales and Marketing to begin that journey. It may be the difference between expansion and extinction for your business.