What is CRM?
CRM or Customer Relationship Management is a marketing channel that enables organisations to build relationships with its customers and prospects. This includes direct, data-based and relationship marketing.
Why CRM is important
Despite being one of the longest-standing marketing channels, CRM has remained an integral part of any marketing strategy as it enables organisations to build stronger and more personalised relationships with its customers.
Electronic Customer Relationship Management (E-CRM) has enabled this channel of communication to go a step further by leveraging digital communication technologies to improve online services, capture more relevant data, send more tailored messaging while delivering better sales and customer retention.
The rise of social media has contributed to the inevitable growth of social CRM. Social Media channels by default have allowed brands to be ‘always-on’. With this, comes responsibility for brands to manage and engage their online communities – from enabling new customer service channels and ways improve to experiences and sales offerings.
Some of the benefits of using e-CRM
Tracking how users are engaging with an organisation’s website provides opportunities to capture email addresses and build an understanding of interest sets. This reduces time wastage by tailoring messaging to relevant user groups.
Marketing automation technology enables the sending of multiples emails at once to users who have displayed similar online behaviours, saving time and driving efficiencies.
Up-selling and cross-selling
Understanding what customers are buying online enables organisations to identify similar product offerings that may be of interest creating opportunities for additional sales.
Capturing lots of data through eCRM allows organisations to better understand their users and their behaviours. This, in turn, enables better optimisation the marketing mix.
Increased customer retention and satisfaction
Having a one-to-one channel of communication creates re-assurance for users that they have a direct method by which they can have questions answered. Furthermore, understand how they interact online allows for anticipation of potential issues and complaints.