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If your business uses a CRM system or a similar tool that integrates with email services or marketing automation, you need to use it for nurturing leads and re-engaging customers. Failing to do so means you're missing out on valuable opportunities and wasting money. Don’t worry, you’re not alone; this is one reason many businesses view their CRM as just an additional cost rather than a valuable tool that can help them to:
- Increase customer engagement
- Automate repetitive tasks and free up time
- Build a more complete customer view
- Provide insights to fuel decision making
- Boost sales and revenue
When you consider that CRMs are not only capable of housing customer data, but also capturing interactions, tracking the full customer journey, and helping businesses make data-driven decisions, I find it astonishing that only 57% of businesses use it to nurture their leads (Stefan Stroe). But why?
The Misconception That eCRM is ‘just another expense’.
The perception of CRM as a cost centre no doubt stems from the often-steep initial investment required, along with ongoing costs associated which can rise to as much as £200 per user per month depending on the features and SLAs. Conversations about cost are often held early in the decision-making process and let’s face it, you only get one chance at a first impression, right?
With as much as 58% of businesses reducing their operational costs in 2024 (YouGov), every penny counts, and if the platform’s ability to generate revenue isn’t immediately obvious, it’s difficult to build a case to justify additional functionality.
The reality is, if you only use your CRM to manage contacts, and perform a handful of other tasks, you’ll never know the level of impact it can have on your business directly.
The True Potential of eCRM Systems
You’ve no doubt seen in recent years a priority shift for businesses of all shapes and sizes to be more customer focused. The reason for this is simple: customer journeys are changing. How customers consume information, conduct their research and how they make purchases has evolved, meaning the bar for customer experience has been set much higher. There’s an increased expectation on brands to deliver a certain level of service and if they can’t, the customer will find one that does. In short, if you can’t keep up, you’ll be left behind.
Tapping into the potential of your CRM can empower you to meet more and more of these expectations by facilitating tactics such as:
- Personalisation at scale: Maintain 1-2-1 communication en-masse and tailor interactions based on the individual’s behaviour and preferences.
- Advanced Segmentation: Group customers into audience segments for more targeted and relevant messaging.
- Automated Communication: Send timely and relevant communications based on actions and pre-defined triggers.
- Predictive Analytics: Use data to anticipate future customer needs and trends, allowing you to pre-empt desire and start engaging early.
- Customer Journey Mapping: Track and manage each stage of the customer journey / sales funnel and ensure you deliver the right information at the right time.
- Feedback and Surveys: Gather and analyse customer feedback to improve service and address customer concerns effectively.
Direct Business Benefits
In addition to improving customer experience, leveraging your CRM provides several direct benefits:
- Improved Customer Insights: Deepen your understanding of your audience to refine sales and marketing strategies.
- Increased Customer Retention / LTV: Personalised journeys and relevant content build trust and increase customer loyalty.
- Streamlined Workload: Automation and efficient processes free up your team to focus on strategic activities.
- Improved Conversion Rates: Right-timed messaging ensures customers progress through the sales funnel, increasing conversions.
- Increased Sales and Revenue: Converting more leads, and optimising nurture processes can reduce Cost Per Acquisition (CPA) and boost overall sales.
For me, lead generation and lead nurture are two sides of the same coin. If you only convert 5% of new enquiries and do nothing with the remaining 95%, you’re effectively living hand to mouth. If you’re capturing and storing customer data, you should be using it to maximise your ROI from ad spend and enhance your customer experience. Consider lead nurture, a rainy-day fund for your business.
Unlocking Your CRM Potential with KINESSO UK&I
Tapping into the wider capabilities of eCRM system may require strategic planning, platform knowledge, thorough training and the resources to remain consistent in your delivery, but the benefits vastly outweigh the challenges. That’s not to say that you have these capabilities within your team to activate on the features and tactics you would like. That’s where we can help.
The KINESSO UK&I, Demand Generation team combines extensive experience, deep technical expertise with a vendor agnostic approach, and scalable resources to help you achieve your customer engagement and revenue growth goals. We’re passionate about empowering businesses to unlock their full potential, and our team can guide you every step of the way.
We take pride in supporting some of the world’s most iconic brands by capturing, enriching, nurturing, and retaining their customers through proven, successful strategies. Whether you’re looking to build stronger relationships with your audience or drive measurable results, contact us today to make it happen.