Are you losing your current customer base while trying to establish a new one, or are you struggling to retain your customers for the long term?
If you find yourself nodding yes, you understand that this could hamper your business and the goals you want to achieve.
The thought of losing the customers you've worked hard to acquire and maintain is not easily acceptable. Studies reveal that almost 65% of a company’s business comes from existing customers. Apart from this you also have to spend money to attract new customers towards your business which can increase your customer acquisition cost. This is where CRM retargeting comes into the picture.
Now, you're probably wondering, what’s the solution to this?
If you are already using a customer relationship management (CRM) platform, CRM retargeting can help you in building stronger relationships with existing customers, encourage repeat business, and increase customer loyalty by delivering personalized and relevant content.
It also enables you to personalize your communication by utilizing customer data, ensuring that messages, promotions, and offers are tailored to individual preferences and behaviors.
Before getting started, let’s first understand.
Customer relationship management (CRM) retargeting is a marketing strategy that aims to target existing or potential customers to engage with your business. It uses data from your CRM software database that your business has collected directly from customers such as customer names, email addresses, phone numbers, and purchase history, so you can attract customers to your business by showing them specifically targeted ads or sending personalized messages.
The future of Marketing resides in marketing databases, through which we know enough about each client to make relevant and personalized offers to each one of them." ~ Philip Kotler
Imagine that you are looking for a smartwatch on an online shopping website, but you have not purchased anything. Then after some time, you get an email or notification in which the shopping website sends you a reminder that you have added something to your cart, and encourages you to complete or proceed with it.
This process is an example of CRM retargeting, in which the website uses your interactions and data to bring you back to its website and motivate you to make purchases.
Customer Relationship Management (CRM) retargeting involves a series of strategic steps that are designed to re-engage and convert leads effectively. This helps you to take specific actions to win them back and turn them into customers. Let's understand the steps of CRM retargeting.
Clearly defining your objectives and effective sales engagement strategies are the cornerstone of any successful CRM retargeting strategy. Identify whether you aim to boost sales, introduce new products, or enhance customer engagement. Having well-defined objectives provides a roadmap for your retargeting efforts, aligning them with your broader business goals.
Seamless integration between your CRM software and marketing tools is imperative. This integration ensures a smooth flow of data, allowing you to access and leverage valuable customer insights. A well-integrated system enables you to harness the full power of your CRM data for personalized and effective retargeting campaigns.
Audience segmentation is the most important part of targeted marketing. By dividing your customer base into segments based on behavior, preferences, or purchase history, you can customize your retargeting efforts to specific groups. This strategic approach allows for personalized communication that resonates with each segment, increasing the likelihood of conversion.
Compelling content is the key to capturing your audience's attention during the sales engagement process in retargeting efforts. Develop content that not only highlights the benefits of your products or services but also speaks directly to the needs and interests of your segmented audience. Consider incorporating exclusive offers or promotions to create a sense of urgency and drive engagement.
Tracking pixels plays a pivotal role in understanding customer behavior. By implementing these on your website, you can monitor how users interact with your site and gather valuable data on their preferences. This data forms the foundation for refining your retargeting strategy, ensuring that your efforts are aligned with customer interests.
Continuous optimization is crucial for the success of your retargeting campaigns. Regularly analyze key performance metrics such as click-through rates, conversion rates, and return on investment. Use these insights to fine-tune your strategy, testing different approaches and iterating based on what resonates most effectively with your audience.
When you already have a data rich dashboard within your grasp, then try out every possible solution to retarget your audience with CRM to accelerate sales. If you’re thinking about what could be your strategies, then let me take you through the effective ways from here 👇
On the basis of customer data, you can send personalized messages, recommendations, and offers to your customers, which helps your business to establish a strong customer relationship.
With CRM retargeting, you can connect your existing customers by sending offers they are interested in. This increases customer satisfaction and leaves a good image of your brand in your customers’ minds.
For example, the music streaming platform Spotify uses CRM retargeting to create a personalized music streaming experience for its users. They recommend new music based on listening history or create personalized playlists like “Discover Weekly”, and “Release Radar” by analyzing the individual listening habits.
The strategy of using CRM retargeting helps Spotify to stand out in the music streaming industry, enhance its user experience, and build a strong individualized connection with its users.
According to the report, Google and Facebook have dominated the advertising world in the U.S. with a total share of 38.6% and 19.9%, respectively. Although the data highlights one country’s perspective, it’s almost the same for other countries as well.
Why? Almost all people are concerned about the best deals and they intentionally click on the links that attract their eyes at first glance. Realizing the same, brands are investing in ad campaigns that are mostly considered by the people before closing the deals.
And, so you’re. If your purpose is to seize the attention of your audience by re-engaging them with any specific product and service offerings, you should utilize both platforms to imply value-based selling techniques in the CRM retargeting process.
For your convenience, let’s have a look at how these ad campaigns work in real-time:
For example, many people are concerned about wearing glasses that protect their eyes from sun rays and snowy frost without compromising their stylish outlook. This is the reason why Blenders Eyewear, which is a California-based company, offers the best deal for sunglasses and ski goggles through Facebook ads while targeting prospects as well as leads to drive sales.
Let me take you through another example of a Google ad, where an Indian beauty product company Lakme, geared towards the fashion regime. Lakme’s products cater to all ranges of customized needs of its customers from every corner and celebrate those people who embrace beauty.
“All advocacy is, at its core, an exercise in empathy.”- Samantha Power.
While having customer loyalty is the top-notch importance for your business, gaining belief in them is the hardest part. And, to crack the nut, you should showcase customer advocacy frequently when utilizing CRM retargeting.
Why? A detailed survey by Nielsen emphasized that 92% of your customers blindly rely on recommendations that they get from their family or friends. Now think, if you can demonstrate customer appreciation while retargeting even your dormant customers.
For instance, you can see here that Apptio, an IBM company not only shared detailed data on the web but also shared a video with the director of Unilever which is IBM’s partnered company. The purpose is here to showcase how IBM dug out the core problems in Unilever, how to strategize to save Unilever millions of cost in 15 months by solving problems from the root, and most importantly how IBM gained Unilever’s advocacy.
Now, when you apply the same strategy to your brand, just try to implement the same with YouTube ads. Why? People love to watch over reading, and the eye-appealing video ad shorts never frustrate them even if they’re watching anything important.
Hanging out with your customers on social platforms and approaching them with the latest and exclusive offerings can engage your existing customers. Not only that but the process can also awaken your prospects or cold leads. Before you reach out to your audience with the CRM retargeting process, ensure once whether all the social contact points are updated in your CRM.
Why? By regularly sharing the latest information on deals with valuable sales content, you can repeatedly draw the attention of your customers. Moreover, social platforms are an open communicative avenue where your customers can discuss each other's opinions without your interference and you can track the comments to further use it.
To show you the real-time perspective, I would take you through LinkedIn and Twitter platforms which are used for social selling. From here, you may have a clear understanding of how to attract people beforehand and play with the secret of social selling:
Firstly, you can see that one of the leading beverage brands Starbucks is always using the LinkedIn platform. Before launching its next classic flavors to twist the taste buds of its customers, Starbucks announced the latest upcoming products. The reason behind this is that Starbuck can keep the curiosity and easily deal with the help of sales psychology while influencing its customers' buying decisions.
Well, the next example is from a brand that you may have also found mouthwatering. This is none other than KFC, which is popular for its delicious chicken burgers, chicken nuggets, fried chicken, and so much more. It already knows how people crave fast foods and when it’s a New Year party, how KFC can move behind. It simply proposes the deal on its Twitter account, highlighting KFC wraps of 2 still at $5.
With the help of the CRM data, you already have a clear picture of buyers who frequently buy from your brand. Additionally, you know their financial stability for purchasing more especially if you give any additional deals.
This is the code that you should use in your loyalty program after retargeting your loyal customers and approaching them to accept the invitation while using CRM and revamp customer retention to increase sales.
Why? Loyalty programs particularly for those who now drive revenue in your business or will do the same in the upcoming days. Well, to make things more interesting, you should not only be offering deals but also rewarding them to value their time, interest, and trust in your brand.
For instance, Lancôme instituted the same approach of rewarding its customers when they apply for new purchases and share their experiences online. The loyalty gifts for them included items with limited timings and cover offerings for travel, beauty, and accessories. Additionally, Lancôme provides loyalty points to enhance its customers’ purchasing power.
Imagine a scenario, where you’re running an online baking business that covers everything from baking equipment and ingredients to the ultimate finished product. To expand your brand’s outreach, you need a stronger and wider customer base, and for the same, you’re about to retarget your cold leads and capture them as your next effective strategy.
Well, if you're utilizing the CRM retargeting process, then you have the data on who you approached before and who amongst them didn’t show their interest. There you need to retarget them and this time, you can utilize lead generation forms.
In that case, Zixflow’s exceptional lead generation form can be a worthy choice for you. Why? These forms can be utilized in various ways such as you can use it in your website as an embedded form, as a captivating landing page or you can utilize it as your modern-day forms as well.
Therefore, ask your cold leads relevant sales questions, and let them answer that. Additionally, you can provide customized deals to mitigate their concerns as well, if they have any. These smoother processes will help you to understand why they still do not purchase from your brand along with which deals make them happy, so that you can work on the same and drive sales revenue.
You can create customized offers and discounts using a CRM database for your customers and follow them up with valuable details. There might be a greater probability that customers will be attracted to your discounts or promotions, and they are more likely to visit your business again. This will open a door of opportunity for your business to get repeat business from the existing customers.
How to do that? Simply implement the follow-up process with emails and make them catchy so that your message doesn’t shuffle in your target audience’s mailboxes.
For example, just look at the screenshot of an email below, where one Indian brand Tata Neu is using the Flipkart marketplace to promote their product. They very precisely design the email content with visualized graphics, the latest deals, and a CTA button, so they leave room for hassle-free purchasing for their customers.
Well, you need to do the same to increase the sales. In this, the Zixflow email marketing platform can help you. How? With Zixflow, you can follow up on all your leads, prospects, and loyal ones with a single click while sending bulk email messages. Additionally, its AI writer can ease your personalized content creation process, and you can use the content in Zixflow’s customized email templates that resonate with your customers.
Attracting customers towards your business and taking one-time purchasing service from them is normal. This thing can be done by any business. However, things are getting critical and harder if you try to sell other products or services to your previous customers who already make a buy.
To make this process easy, CRM retargeting can help you. Already you've gained knowledge of how CRM retargeting can smoothly amplify your business revenue by providing you with all the valuable insights and data that you need to sell the user a second time.
By categorizing customers based on their type, you can implement CRM retargeting strategies to achieve remarkable success in sales and cultivate a loyal customer base.
But before that, you need a worthwhile CRM to implement effective ways to drive sales, and for the same, don’t forget to get a free demo with Zixflow today!