A common desire for marketers is to reach large audiences and bring in many new customers. Sometimes, marketers can be too outwardly focused and not even realize the goldmine at their feet. Any established brand that has been running for at least a few years will have “boxes” or databases full of customer data such as emails, phone numbers, names, and even addresses. These databases are called CRM (customer relationship management) lists and have much more value than may be outwardly apparent and can be key for a business’s growth.
Typically, CRM lists are compiled of data from both offline and online sources. These lists consist of information about people that have found a way to either your website, contacted your business or purchased your product in the past. This data can be uploaded to a DSP (demand-side platform) to match with online profiles and be organized into audiences. Profiles that are matched with your data are typically people who have already had an interest in your brand but were not necessarily reached through digital advertising. Depending on the DSP you choose, you may also be able to have a lookalike audience created. Lookalike audiences are profiles that have similar online activity and interest to those who are a part of your CRM data. This feature is useful if you have a small CRM list and want a large amount of impressions for your online advertising. Audiences created through CRM data can be used for programmatic advertising in order to directly serve ads to people familiar with your brand. Email campaigns are another effective marketing strategy that commonly relies on past customer emails. Having a CRM based audience available can enable marketers to creatively use them in a number of different strategies and channels to effectively market their business.
Reaching out to past customers can easily be just as profitable, if not more, than attempting to acquire new ones. The fact of the matter is that marketers should be equally focusing on bringing in new customers as well as retaining past ones. Some of the possible benefits from using CRM data in targeting strategies may be the retainment of a customer, loyalty, increased engagement, and better brand identity. With CRM data, marketers are sure they are targeting people that they know have or have had an interest in their company.
CRM data is a resource that any business that has made contact with any potential customer has available. Surprisingly, CRM data is frequently overlooked by experienced marketers – possibly because of its simple characteristics. In unison with programmatic and other managed services, CRM data can greatly add to a marketing strategy and growth of a brand.