What is CRM Retargeting and How Does It Help Your Business?
CRM retargeting is one of the best marketing strategies to help businesses grow and develop. It provides existing and potential customers with more relevant digital data using first-party platforms that are stored in your CRM, POS, and other systems.
So how does CRM retargeting help your business in the long run? It’s simple: CRM retargeting has more benefits than traditional retargeting. Incorporating this strategy helps create more opportunities to sell, foster smarter marketing, boost ROI, and generate more relevant ads.
Benefits of CRM Retargeting for Business
CRM retargeting uses a different way of retargeting ads compared to traditional retargeting. Think about this: you don’t want to spend time crafting email campaigns to certain segments of your target market only for the emails to have a low open rate. While there are many benefits of CRM retargeting, here are some of the most important advantages of the strategy:
1. Creates More Opportunities to Sell
CRM retargeting helps businesses create more opportunities to sell since it provides marketing strategists with a better understanding of the spending habits of potential customers. When you’ve determined what kind of products or services certain customers prefer, you can upsell this certain product, or focus on creating advertisements for other products which sales you want to increase.
For example, if a customer with a profile on your website hasn’t checked out a certain item in their cart, it might be a good idea to show them an ad that provides them with an incentive such as a promotional code or a discount coupon.
Additionally, knowing the preferences of existing and potential customers also promotes brand loyalty, which is one of the most important factors in determining a business’ success. This gives you a competitive advantage in the industry with your loyal customers. CRM retargeting helps provide an experience for loyal customers that other competitors can’t provide.
2. Fosters Smarter Marketing
Another benefit of CRM retargeting is that it helps businesses and companies foster smarter marketing. Rolling out marketing campaigns that don’t reach the intended target market is a waste of money, time, and effort. This mistake may be too damaging for some business to the point that they won’t be able to recover from it.
CRM retargeting helps determine what kinds of marketing strategies do better than others. For example, if an internet user clicks on a certain ad but doesn’t generate the kind of response you’d hope for, then you might want to tweak the advertisement to persuade the customer to purchase the said product.
3. Generates More Relevant Ads
CRM retargeting provides businesses with the ability to generate more relevant ads by utilizing existing CRM data. Many CRMs also allow marketing strategists to further segment their market, providing more specific data that they can use to their advantage. Advertisers also have a greater chance of creating more relevant and accurate ads when they have more specific data in their CRM.
Another way CRM retargeting can help businesses generate more ads is through helping business owners understand how customers perceive their brand. The strategy provides certain information like which products do buyers value more and how do customers use certain products. CRM data can also determine customer buying patterns: so if a potential buyer tends to purchase a certain product during a specific season or time frame, a marketing strategist can tailor their marketing strategy to fit their behavior.
4. Boosts ROI
Since CRM retargeting helps create more opportunities to sell and generate more relevant ads, it results in a boost in ROI. This strategy also helps run better cross-channel campaigns by delivering more personalized messages for segments that are underserved. Tapping into underserved markets and more niche markets opens businesses to more opportunities to tailor their ads and sell their products.
What Is the Difference Between Retargeting Vs. CRM Retargeting?
Traditional retargeting targets people who visited your site and didn’t buy anything. This strategy brings back potential customers by showing them more ads about your products on other platforms, convincing them to buy from your website. It’s typically used when a brand wants to introduce a new collection, promote bestsellers, and build brand awareness.
Though traditional retargeting already has its own benefits, CRM retargeting makes it easier and more efficient for businesses to reach lapsed and potential customers. A CRM software stores and provides business owners with more useful information about their target market. Instead of just storing customers’ email addresses, CRM includes information like recent appointments and customer interactions.
However, CRM data isn’t enough to help a business flourish — you have to learn how to use this data to attract more customers and generate more sales. This is where CRM retargeting comes in. In an increasingly data-driven world, CRM retargeting uses the data stored in your CRM to create custom audiences for marketing campaigns.
How to Incorporate CRM Retargeting Into Your Business
Though CRM retargeting takes more time in terms of planning and strategizing, it’s worth the struggle. Before coming up with a CRM retargeting strategy, it’s best to list down certain goals like the market segment you want to reach. Afterwards, it’s important to define the audience list and determine where they are in the sales cycle.
One of the most effective methods to incorporate CRM retargeting into a business is by incorporating it with Facebook advertisements. Facebook is one of the most popular social media platforms you can use to reach a wider audience and it already has some built-in tools called Facebook Custom Audiences.
Facebook Custom Audiences uses CRM data to help a business do the following:
- Avoids showing irrelevant ads to people who don’t have any interest in your products or services.
- Ensures that ads are being sent to the right people by further segmenting the market and identifying their different interests.
- Reaching a bigger target market by looking at other people who may be interested in certain products and services.
- Tailors advertisements based on the information a customer provides on their Facebook profile.
Creating Better CRM Retargeting Strategies
To have a better edge against industry competitors, it’s important to figure out how to improve your CRM retargeting strategy and continuously develop and tweak your strategy for better profit and engagement. Here are more tips to create better and more engaging CRM retargeting strategies:
- Offer optimal experience for different internet users and make advertisements flexible enough for everyone.
- Be consistent with the message you want to communicate to existing and potential customers.
- Place a call to action that leads customers to purchase your products and services
- Analyze how internet users react to certain advertisements and marketing campaigns.
- Show the different products and services your business has to offer.
- Think about implementing a frequency cap since you don’t want a potential customer to be turned off by the amount of advertisements they’re seeing.
- Make sure that customers actually want to hear from you. There are certain digital privacy laws indicating that you have to ask a customer for their permission to use their information.
CRM Retargeting at Commence
The best way to incorporate CRM retargeting into your business is to invest in technology that provides customized strategies and solutions. Commence CRM provides you with the software and technology that your business needs to reach the right audience.
We have a team of experts you can consult with to know the best methods to roll out your company’s marketing strategies. Commence CRM is happy to answer any inquiries you may have about our products and services, and our team guarantees excellent products that will definitely help your business operate more efficiently. Give us a call today to know more about products and services and how we can help you.