Guide for customer engagement and communication that explains the sales funnel and the role of CRM in a marketing solution. This document is the effort of Group FiO to educate SMEs about what a CRM needs to do and how FiO CRM can fulfill their requirements.
CRM is customer relationship management and with benefits like strong support and sales department coming from a CRM is direly needed today.
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Your CRM for Customer Engagement- Marketing Pain Killer
1. Your Customer Information and Communication Guide- Group
FiO Inc.
Contact Management and the need for Customer Engagement augmented the
extremity of a software solution that can manage customer data and facilitate
interaction between company and its customers. The sentiment of employing a
CRM totally focuses on maturing customer satisfaction, automating the sales
processes and remodelling the customer service rendered by an organization.
Take your first step
One shoe does not fit all. Similarly, not all software solutions can understand the
latent needs of your business and bring innovation with latest updates. A CRM
solution based on the Open Source Technology, gives a perk to organizations with
continuous improvement in their business solutions.
Imagine yourself being stuck in a shoe, when the size of your feet is growing?
A solution that can be flexible, takes into account the time and on-going updates in
the work environment, address the real needs of database management to suit the
company and customers’ needs; is a True CRM solution that deserves to be
preferred over others.
What can be expected from MyFiO CRM?
2. MyFiO CRM can provide you with the most organized form of customer
information. This will enable you to get into precise conversations with your
customers and build strong personalized customer relations.
My FiO CRM is based on the Opentaps technology and facilitates the following
modules:
The CRM of your preference should include the following features:
3. 1. Provide a complete picture of every customer to the organization
2. An overview of the opportunities, leads and reports to analyse the sales
pipeline
3. An ability to do sales forecasting
4. Help sales people to manage and close the hot leads and opportunities
5. Provide an effective customer service system
CRM should be designed in a way that there can be a sync established between the
sales and marketing within the organization so that none of the contributions from
each department goes unnoticed.
Sales Automation with CRM
Universe to Suspect
In order to leverage B2B and B2C opportunities, we look for customer touch points
that can be as basic as buying a random List Database with $/name rate or as
scientific as getting connected with customers/businesses on Social Media
platforms. Once you have touched an opportunity from the universe, it becomes
your suspect. Now we dig deeper! Once we have our suspects as Lists. Connections
(LinkedIn), Circles (Google+), Friends (Facebook), Followers (Twitter) in our
business space; we tailor messages depending upon our audience.
Types of Messages
The messages can be cold calls/emails, Newsletters, Tweets, LinkedIn Discussions,
Press Releases, Facebook Posts and Opinion Polls.
Metrics
1. Then after we employ metrics to measure the results of your marketing strategy
like click rate and open rate, engagement with comments, impressions to a post
etc. Group FiO’s campaign management system can track the following for your
cold emails, newsletters and other content marketing material.
4. 2. Analytics for Social Media Platforms has sharpened enough to track impressions,
engagement and overall response of the audience on a particular message that is
sent out to the suspects inside the business space.
3. Once you track down these rates, you now have a scientific way to function your
strategy. Those you see have got engaged with your marketing material, are the
ones you sit right in the middle of being a suspect and a prospect.
Message Techniques
Click rate is more important that an Open rate for an email. Successive messages
will be sent only after segmentation being performed on the basis on recency i.e.
When was the last marketing piece sent out? When did the customer click on the
marketing piece sent to him?
A response should be sent to a click within the first hour to make the suspect a Hot
Lead.
Suspect to Prospect
The marketing strategy now would be to form successive messages to
psychologically resonate with the suspect’s needs. They should contain a WIFM
statement (What’s In It for ME?). Insights from the measurement statistics can
prove to be extremely useful at this stage. A custom piece for the business segment
in which the suspect deals can help develop credibility. The best you can read your
suspect’s mind, better are your chances that the next marketing communication
will be worth a shot! Consecutive content marketing material or a personalised
email can get them talk!
Prospect to Customer
The time there is an exchange of value and goods or services between the prospect
and the business, the prospect will now become a customer record. Organizations
have huge amounts of data collected for both prospects and customers. But do
they have a way to leverage this customer information to develop marketing
strategies, drive sales and revenue and generate brand advocacy.
To address the need of a marketing team for small and medium enterprises, Group
FiO developed a platform which can do the following to help businesses succeed-
CRM – Useful for the Marketing Team
5. Customer Segmentation
Customer profiles can be divided to identify various kinds of segments based on
Age, Gender, Income or whichever variable relevant to a specific industry and
contributes to change in consumer purchase behavior. Once the target groups are
identified, we take a step further in designing the marketing piece for each kind of
segment we want to communicate with.
Choose your Marketing Channel Strategy
Our CRM based on Open EMM provides you with channel options to reach out to
your target segments through Email Marketing Campaigns, SMS Marketing, Phone
Calls, Coupons and E-receipts. You get a full-fledged powerful campaign
management system clubbed with CRM, that can not only send out campaigns for
you but is smart enough to help you with customer segmentation before the
campaign and track results after the campaign. This is particularly helpful for
especially B2C businesses for whom AB testing is critical to measure behavioral
responses of the customers to different messages.
Example a 10% discount VS a 10$ Off.
Example Messages in RED VS Messages in Blue fonts.
Apply the RFM Model to increase Traction
6. Recency
Recency is a very important factor that needs to be taken care of before sending
out a marketing piece to a customer. The more recent is the purchase of a
customer, the chances to increase the propensity to get him back to your store can
be increased with prompt and relevant marketing strategy.
Frequency
It is to be kept in mind that more frequent is the customer, more are the chances
to increase the purchase basket of the customer with targeted communication,
possible through our CRM with marketing infrastructure inbuilt. A close study of
frequent buyers and the amount of purchase shows the pattern and behavior of
consumers. Offers or News shared should drive an instant call to action, because
frequent buyers are most likely to be seen for any promotional message targeted
to attract them.
Monetary
Once you understand the factors recency and frequency about a customer, you
need to leverage revenue potential through increasing the basket/$ by either giving
a quality advantage, warranty, discount on marked-up prices, bogo price offers,
etc. to entice customers to shop more.
Track responses
A prompt CRM with marketing solution, can always get you the benefit of using it
as a platform of communication and get the empowerment to track responses of
customers to your marketing channel and message strategy. With metrics like click
rate, open rate, etc. you can be sure of which way a strategy is turning out and
analyze the expected VS actual results to confirm the quality of the chosen
strategy.
Know more about our Marketing Solution
What can be a marketing infrastructure that can help you leverage the RFM?
Here is the answer- Our Marketing Solution called MyFiO RMS provides you with
the right tools to implement your marketing strategies namely:
Email Marketing
SMS Marketing
E-Receipts
Loyalty Management
Coupon Management
7. Thus, Group FiO’s Marketing Solution/Campaign management
tool is a simple, feature rich and exceptionally scalable
Marketing Solution built especially for the SME’s to help arrest
customer attrition and increase customer acquisition.