Empower Your Digital Marketing by Bridging CRM, First-Party Data, and Cross-Channel Marketing Platforms
Picture a company with an Enterprise Data Warehouse or a CRM flooding with customer data. A massive database packed with their clients – thousands upon thousands of users. Each one of these users has records factoring in past transactions, services used, and product inquiries – just to name a few.
In this example, our large company is quite sophisticated. They can track analytics data. They can even align customer profiles and segments with browsing behavior and content consumption across all their online properties. This same company has been good at managing outbound marketing. They are even better at tracking the frequency of outreaches and responses using different software solutions.
Now, this company wants to make their data more actionable in real-time. They also want to become better at targeting specific customers and prospect audiences by leveraging real-time cross-channel marketing technologies.
So, this same company has made the decision to invest in a Data Management Platform (DMP). They believe it is now a necessity, as they want to track visits to their online properties while segmenting the data in an efficient way.
The best way for them to achieve their goal is to align customer login data with cookies and ID data. They can now identify a client, like Mr. Jon Smith, using multiple identifiers such as cookies, IDs, and IPs. With this method, the company can start building segments to capture both existing customer audiences and new visitors.
Now that the business is using a DMP to segment audiences, they can start delivering messages in real-time by using a Demand-Side Platform (DSP). This will automatically start creating campaigns in real-time as the audience segments pass through the DMP to the DSP. These campaigns are set up to target either individual customers, customer groups, or new visitors that are visiting any of the company’s online properties.
Let’s take a deeper look into this process by considering some additional examples:
CRM Retargeting: Retargeting individual customers or customer groups based on their product preferences, interests, and purchases
Think about what happens when a client purchases a product or service online. A very common practice that utilizes CRM retargeting is when a website advertises complimentary goods and services based on the user’s initial purchase.
Another great example of retargeting occurs when a customer is up a renewal. Most people tend to wait until the last minute to complete the action of renewing something. However, an automated campaign will remind the user about renewing a service or restocking an item (replace a printer cartridge). This will subsequently open the door for promotional material to be pushed out.
Active Web Analytics Retargeting
Active web retargeting occurs when a company programs their web analytics to talk directly to the DMP. This is done by monitoring customer groups to see if somebody is displaying a buy signal. Some of you may refer to this as “intent retargeting.”
In these cases, there are companies like iPerceptions or G2 Crowd that can help you identify users that are showing potential buy behaviors.
An alternative way is to track whether a customer is showing some new behavior on the website. Imagine a customer, Mr. John Smith, logs into an online banking portal. Typically, he only uses the account management and bill payment functionalities. One day, the bank notices that Mr. Smith has been investing his time reading about investment programs. The bank interprets this change of behavior as a potential buy signal. These are the exact situations where Intent, Web Analytics, and various CRMs could be aligned to surface these behaviors so that a decision whether to approach Mr. Smith directly or nurture him with cross-channel campaign tactics.
3rd Party Audience Data and Expanding the Reach:
In addition to retargeting customers across the internet by using DSPs, one can expand on this 101-digital marketing tactic by leveraging a look-alike model. This can happen when a DSP or DMP gets connected to a 3rd party data provider that enriches your audience segment and identifies similar individuals to be reached.
This is where a few thousand premium users segments can easily double. Essentially, all you’re doing is passing cookies and number ID data to a provider and then asking two main questions:
- How many more people can you identify in my segment(s)?
- How much more people on the internet display similar behaviors?
If both those questions are answered, all that remains is setting up a campaign and targeting a look-alike segment in your DSP or cross-channel marketing suite.
First party audience data, offline and CRM data, web analytics, and insights are some of the greatest assets a company can own. Data, if you don’t know by now, is the ultimate enabler when it comes to cross-channel campaigns. For the companies that can align the solutions mentioned in this article, this can become a streamlined way to reach customers across any channel and any screen.
Munvo is a leading consulting firm helping clients improve their marketing capabilities through a combination of technology implementations, management consulting and marketing run services. In addition, Munvo Lab develops products and connectors for Adobe, IBM and SAS Marketing Solutions.