How well do you know your customers / buyers / guests? Of course, we say we know them fairly well with our ego on our forehead. Or we think that NPS surveys will give us enough info & reviews are speaking so highly of us we are invincible.
But do we really know them that well?
Personas & Profiles
Setting up personas is part of the basic business 101 & something marketers will have to do. But building customer profiles could be a completely separate game of its own.
If you haven’t heard the term CRM enough times in recent years, or if you have yet to set up one in your organization, it is something that you would want to have since yesterday. As SalesForce puts it:
A CRM tool lets you store customer and prospect contact information, identify sales opportunities, record service issues, and manage marketing campaigns, all in one central location — and make information about every customer interaction available to anyone at your company who might need it.
You said you know your audience, but can you tell…
- how many times he has exited your landing page without a purchase?
- if a lead always visits on Friday but your sales never called?
- the segments of your customers who contribute your 80%?
Profiling is the first step to all the insights you can have in the world, & a CRM will help you do just that.
Time for Some Stalking
It is creepy. But “stalking” is literally what people do to taps into the rich data in 2020.
You will want your customer profiles as stuffed as an imaginary oversized Thanksgiving turkey for 500 pax. Ok, maybe not that literal, but the profiles should be enriched with as much relevant data as possible to churn out more potential insights.
Mobilize your developers to hook & integrate website, e-commerce, & loyalty data into the CRM; have your sales & service teams added into the workflow so that deep customer engagements are recorded; hook your marketing into the CRM as well so that behaviors & preferences can start to build.
If you are in FMCG / retail / e-commerce, this is even more crucial than in other industries, Target already used big data to figure out someone’s pregnant before everybody did back in 2012. But even for other players, everybody has a hold of so many data touchpoint of any customers these days, not understanding your own crowd is kind of a crime.
Palm Reading & Crystal Balls
CRM at its peak is basically digital fortune telling for businesses. Once you have enough in your -turkey- database, you will be able to study the past, realize the now, and alter the future.
Need to up LTV? How about segmenting your database with customers with the most frequency of visits & the most repeat purchases, & send them personalized Xmas coupons. Or 1-1 proposal flows that you’d seemingly know everything about the customer with pitch-perfect personalizations.
Need to convert more? Perhaps pouring lookers & putting them into automation flows to become buyers while mapping their experience against personas & see what steps can be massaged.
Need to polish your mid-funnel? How about sampling key customer journeys closest to your personas & drill their feeds, see why they drop off & which part of the journey created the bottleneck.
You see, these are just the tips of the icebergs floating around. Just one last thing: even though the potential is endless, you do need to nurture talents to help you with it. So never forget to help your team so they can help you.