Why we should rethink CRM for the digital age
Illustration by Dave Cole / Getty / Shutterstock / The Current
The marketing landscape is fast-paced and constantly evolving. The way we approach customer relationship management (CRM) must also evolve.
You are probably thinking: “What about CRM could possibly need to be modernized?” But that is precisely the point. We are not talking about the non-flashy CRM of old, often an afterthought taking a back seat to other exciting priorities. In this modern digital world, we’re dependent on the right use of data, AI and creativity to deliver relevant, compelling and engaging experiences. The connective strength of CRM can be a game changer.
The true meaning of CRM is simple: consumer centricity. With the ever-growing amount of consumer data within every marketer’s reach, they are far more equipped to deliver on that promise now than ever before. Lines are blurring across commerce, media and CRM, flipping the consumer experience on its head. It’s opening the door for new opportunities for brands to engage, convert and retain consumers in ways previously unimaginable.
Marketers need to shift their preconceived, and likely outdated, perspective of CRM and rethink where it sits organizationally. It is no longer just a channel; it fuels purposeful connections. Here are three steps they can take to meet consumers where they are for more relevant and meaningful experiences.
1. Connect consumer identity
Marketers should view consumer identity as end-to-end. A recent report from Forrester on CRM marketing services explains how marketers must look at data, strategy and technology simultaneously to build a consumer-centric view.
As mentioned above, commerce, media and CRM are converging. It heightens the importance of full-funnel data connectivity and a thoughtful data strategy. Today, marketers need to integrate data from both their paid and owned ecosystems while expanding their consumer profiles because building them with zero-, first- and third-party data has never been more important. Remember, as revolutionary as technology like AI is, it’s only as good as the strength and completeness of the underlying data model.
2. Connect technology
Alongside emerging technology like AI, marketing technology has also evolved significantly in the past decade and is now being designed with marketers in mind. What used to be the purview of IT teams has become an area where marketers need to step up in understanding, shaping and actually using their tech stack of the future.
Investing in it through the lens of modern CRM means placing the consumer at the heart of every technology decision. By ensuring that all your martech solutions feed into and draw from a unified CRM, you gain a holistic, actionable understanding of your audiences. Then AI comes into the mix, creating new opportunities to progress consumers from casual buyers to brand superfans. In a world with enormous expectations for personalization, these relationships are everything.
3. Connect audiences
With a connected consumer identity and technology in place, you have the foundation to implement a connected audience strategy that bridges the full funnel. Each touchpoint plays a role in moving a potential consumer from awareness to consideration, to purchase, and ultimately, to long-term engagement. Seeing the “big picture” prevents channel silos and ensures a coherent, complementary experience. But marketers can’t stop there. They must also ensure that they break down business-line silos that often prevent brands from delivering integrated experiences that show consumers they are understood and their needs are being prioritized.
Connected identity, connected technology and connected audience strategy are the ultimate trifecta to not only boost campaign performance and ROI but also to create better, more personalized experiences for consumers — driving loyalty, advocacy and sustainable growth. Throughout my career, I have witnessed the evolution of CRM firsthand, and make no mistake — CRM’s time taking a back seat is over. We have a golden opportunity to break down all organizational silos and use CRM’s connective power to allow modern loyalty to prosper, relationships to blossom and brand love to thrive. If brands maintain authentic connections with their consumers and integrate identity and technology with their audience strategy, everybody wins.
This op-ed represents the views and opinions of the author and not of The Current, a division of The Trade Desk, or The Trade Desk. The appearance of the op-ed on The Current does not constitute an endorsement by The Current or The Trade Desk.