CRM and Marketing Disruption:
Rapid Changing client behavior (initiated by COVID-19) and less physical interaction, required additional means to connect to prospects and grow your business.
If you are not doing it your competition will, and companies are loading up on technology to help them achieve this. The problem is, that many companies are loading up and buying the wrong products, at the wrong price, for reasons that are not shared across the enterprise.
Most Organizations have a CRM (Salesforce, Oracle, SugarCRM, Hubspot etc.) and one of the many Marketing automation tools, but lack the customer knowledge in order to have (near) real time marketing efforts targeting the right audience. This specific targeting generates more sales revenue and brand recognition with optimized use of resources (time and money), and provides a more valuable experience for customers and prospects.
Marketing activities should be based on customer interactions and enhanced data which show you understand the prospects interest and provide them with targeted messages related to their area of interest. This activity leads to higher opening and acceptance rate of emails and other correspondence.
Traditionally, there were efforts focused on mass marketing to very large groups with hopes for the best in scoring an opportunity out of that large group (sometimes sales people call this 'spray and pray').
Platforms today aim to enhance customer data using AI and other measuring tools for website visits, email communications, social media interactions, and other touchpoints along the buyer journey. This is both more cost effective and a more pleasant experience for the intended audience.
The means to do that is by creating a Customer Data Platform which helps to regulate the static CRM data with the actions of the Marketing automation.
Technology Friction Point
As we have seen however, often the marketing and related solutions are selected by the functional teams, with limited Finance and Procurement involvement, who may have a more holistic view of the organization. With the numerous solutions out there in the market, it is key that you will select the right party for ALL your requirements and constituents.
Check the developments and activities within your organization across the business for overlapping initiatives and priorities (product launches, prospect outreach, advertising, customer service and support, sales, product development, etc.). All these groups have different needs and short term objectives and often purchase technology to facilitate these plans without regard for the 'big picture'. The results are disjointed messaging, branding and confusion amongst your customers and prospects.
Lastly, the amount of investments made by the company can often be several hundred times more than they need to be. A due diligence process to review all available technology that meets the entire organization's needs, along with market data to ensure right sizing and pricing are keys to long term success.
Do not leave money on the table. Get us involved for higher returns beyond just your IT sales and marketing budgets, but all operational areas.
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