How to deliver growth from a modern CRM strategy?

 

Traditionally, CRM primarily consisted of customer support (helpdesk, product support, etc.) and relationship management (account management, etc.). These helped achieve better customer reviews and customer satisfaction scores. Now, CRM has become a modern tool for growth via 1:1 relationships, personalized experiences, predictive recommendations, etc. that not only drives a higher net promoter score (NPS) but also owns retention (or revenue) goals.

 

Align your CRM strategy to support an end-to-end customer journey

A good modern CRM solution should be able to track and report on customers’ behavior across all stages of their journey: acquisition, engagement, retention, and referral. If you’re not tracking your customers’ journey end-to-end, you will never have visibility into where they need help most. It's no longer sufficient to just keep track of customer data. At its best, a modern customer relationship management (CRM) platform should allow you not only to manage data but also to help facilitate every step of your customer's journey through your business. The tools at your disposal will vary depending on what stage of development your company is in — whether you're just starting out or are at scale — but there are certain functions that can be used across all stages of growth. These include collections and payments; web analytics; marketing automation; lead generation; messaging and communications capabilities; predictive modeling and forecasting tools for sales teams; product information databases, etc.

Help them have a better experience on their journey

People don’t buy products or services – they buy better versions of themselves. What problem are you solving for them and how is your product a key component of their transformation? In other words, how will your product help them improve their lives, experience more pleasure, or reduce stress? With customers now interacting with brands through multiple channels, it’s not enough for them to simply have a great product or service anymore. For example, you can make life easier for both your customers and your team by leveraging technology that bridges online and offline interactions. This way, you can help people across multiple touchpoints (website, mobile app, email campaigns) engage in personalized experiences with your brand. It’s also important to be open-minded about their journey.
 

CRM must have goals to generate revenue and not only operational efficiencies

Having modern customer relationship management is more than just an efficient way of managing your support team. It’s also about setting up internal goals and measures that allow you to track client lifecycle stages and progress. Without clarity on these points, your CRM is not only useless but will be prone to failure because it doesn’t answer any particular business problem at hand. Beyond retention, revenue and customer acquisition goals are important when establishing an optimized modern CRM strategy. The trend in most B2B organizations is to shift resources away from support and toward sales, marketing, and customer success departments; in other words, make modern CRM drive revenue. And many companies get stuck there: They have great data about their customers, know how much they spend on their products or services (and when) but do not track leads that turn into actual sales opportunities. Organizations need to learn how to integrate with existing tools for personalized recommendations and suggestions based on behavior history as well as develop algorithms for finding up-sells and cross-sells.

We worked with Shikhin to create our growth and CRM capabilities to improve our growth strategy. He was instrumental for us to plan across the breadth of organic & performance marketing, CRM, and martech & adtech. We were able to simplify the complexity of growth tech with this partnership through growth tech roadmaps, identification of tech partners, and creation of the right teams and capabilities for future growth

-- Alberto Barcelos, VP of Product at Taxfix GmbH

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Why StatsLateral?

We work hard to create a partnership based on success and apply our core values to each client engagement:

  • We have in-depth expertise covering the breadth and depth of the marketing, CRM, and growth ecosystems.

  • Our people have delivered success as C-level mar-tech and ad-tech executives, product strategists & managers, and growth marketers.

  • We have partnered and worked closely in the industry with both dominant players like Facebook, Google, Salesforce, etc., and with new AI startups that provide innovative machine learning-powered emails, and content/copies, etc.

  • We have been part of tech startups, top strategy consulting teams, and engineering and data science teams to build innovative software.

We apply our unique skill-set to understand the breadth of 7000+ mar-tech solutions and provide depth of customer journeys and experience management for business success. 

Our clients drive these benefits from our approach:

  • Applying our expertise to truly understand a problem and provide a strategic solution

  • Fully transparent pricing based on the impact our consultants generate and low-cost alternatives just like we will do for our own business

Our Core Values

  • Customer success: We do not declare victory without customer success
     

  • Complete ownership: We are responsible for every success and failure. Period.
     

  • Simplify: We find ways to explain it to a 4th grader and to a granny
     

  • Fast & Scrappy: We believe speedy and low-cost innovations are secret to growth
     

  • Measurable: If we can’t measure, we won’t do it (or recommend doing it)