If you missed the webinar, you can watch the recording here, or check out the 5 top takeaways below.
1. Right message, right time, right customer…still!
When it comes to your campaigns, volume and product-centricity are not the answers. While your business might be pressuring your CRM team to send more messages to as many customers as possible (see that 72% stat above), real ROI comes from putting the customer at the heart of your marketing strategy. Unless the message you’re pushing truly applies to every customer (like a ‘Sale Starts Now’ email), your campaigns should be highly targeted to increase engagement and reduce unsub rates.
2. Targeting nirvana relies on a high degree of automation.
Grant likens customer marketing strategies to flying a plane: a lot of the work will occur on the runway and at take-off, but once you’re up and cruising, the majority of the journey should be comprised of measurements, tweaks and modifications. In other words, if you put your focus into campaign planning and setting up smart triggers, you can spend the rest of your time analysing data and making improvements, which will have a huge impact on ROI.
3. Get your foundation squared away before investing in “shiny new toys”.
This won’t be surprising to you, but Grant believes that data is the most important aspect to creating successful campaigns. Grant theorises that most businesses only use about 20% of their data and MarTech functionality as it is, so before you go looking for the next hot bit of complimentary tech, make sure your infrastructure and team capability is sound.
4. Start with the low-hanging fruit.
Grant suggests starting with welcome, abandonment and product recommendation triggers first. These are likely the most accessible to you and will make a big impact on your bottom line.
5. Don’t alienate your best customers.
Predictive analytics will not only help you identify your best customers (Future Lifetime Value), but will also make sure you retain them. Modelling can show you the sweet spots for when to contact individual customers, how to contact them, and with what content.
“The best strategy is pragmatic customer-centricity.”
Stuart RussellChief Customer Officer