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Wednesday, August 13, 2014

STACKED: The New Metric for CRM Success

STACKED: The New Metric for CRM Success


In my last installment, I presented the case for why the email address has become the most powerful targeting mechanism in existence. In this, my final post, I will address how this changes everything we knew about CRM in a digital world.
Do you see any similarities between the images below? One common theme, perhaps?
Log Ins
If you answered that all of the sites below require an email address to register, you are correct. CRM and Email Marketing are no longer about sending outbound email.
They’re about the email address.
It’s not necessary to actually send mail to get your message in front of a customer, anymore. Technology has finally enabled the CRM marketer to find their customers or subscribers anywhere, across any device or channel. Whereas in the past, a brand’s media team or agency did all the media buying, now paid, biddable media is directly within the control of the Email/CRM marketer.
But while exciting, these new capabilities come without their own set of challenges. It takes a major shift in mindset. Try telling someone in email or CRM that they can now bid on their subscribers via paid media channels. The absolute first thing they’ll say is that they do not “do media buying”. They’ll tell you other teams handle it.
What organizations must realize is that: If you are speaking to your own customers – whether it’s in display, email or social –  that’s ALL CRM.
After all, messaging and engaging with your known universe of customers is the very core of CRM, isn’t it? Why should the channel in which you engage with them matter, so long as it’s effective?
The email marketer of the future will forgo email marketing specific metrics and start to focus on delivering ROI on a per customer basis. Brands that adopt new platforms and technologies communicating with customers across every digital channel will dramatically increase the reach and frequency of messaging against their customer base. The 20% avg. open rate will give way to the 65% customer engagement rate, as the CRM database finds its home in the middle of a multi-channel marketing solution.
CRM Stack
If you do not already have this capability, there are many technology solutions, including LiveIntent, that can help you manage your budgets, spend and optimization so that you can reach your customers in any media channel.
But regardless of how, the time has come to start preparing ourselves for the “Internet of Things”, where your car, your home, your TV, your wristwatch – EVERYTHING – will be connected and dependent on an email address to login or register.
The future of CRM is filled with limitless possibilities, all made possible by less-than-sexy, often mistaken for dead, email address: The clear winner of the Internet.
You can of course reach me via email at: skrauss@liveintent.com or tweet me any feedback at @scottkrauss!

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