Unleashing the Untapped Revenue in Your Database
Sometimes, it can feel like your business is going to get weeded out of a lawn full of competition. Want your business to survive long-term? Think like a dandelion.
Despite their bad reputation, dandelions are remarkable for many reasons:
- They pop up in places you wouldn’t expect.
- They grow quickly
- They spread like mad.
- They’re incredibly resilient.
In fact, before the advent of lawns in the U.S., dandelions were held in high regard. According to the University of Maine Extension, the benefits outweigh the headaches it gives to homeowners:
Each spring, Americans declare war on dandelions, but the so-called weeds have an advantage, because they easily tolerate a wide range of soil and climate conditions … and offer an important food source for essential insects.
Furthermore, dandelions have been historically chosen by the ailing to treat lethargy, depression, fevers, toothaches and even dandruff.
By now, you’ve probably connected the yellow dots — marketing is a lot like a patch of dandelions. And, no matter how green your thumb is, your business can probably solve a lot of problems for a lot of people. The potential for your business to grow and thrive is at your fingertips.
Your CRM Data Can Help Your Business in Many Places
It’s imperative for any business to collect and store data related to customers and purchases. Businesses of all shapes and sizes do this with software called a client relationship manager (CRM for short).
While the primary benefit of a CRM is that you can easily organize and reference your records, that data is also critically important for propagating new revenue. This practice is called retention marketing.
Much like the dandelions growing in the crack of a sidewalk, your CRM data can also surprise you in many places.
Selling to existing contacts is 5x cheaper than finding and attracting new customers, so nurturing the contacts in your database will grow your revenue like a dandelion.
Email Marketing With CRM Data
The most immediate impact you can create with your database is in sending thoughtfully-targeted emails. Whether your business is B2B or B2C, selling cows or selling healthcare — email marketing is the number one objective.
So I should just blast away at my list?
No. Focus on thoughtful targeting, which will set you apart from competitors. Even today, with all of the tech at our fingertips, this still seems to be a challenge for businesses. This form of lifecycle marketing has never been easier, but it’s still not common. As SuperOffice notes:
89% of marketers do not segment their database and send one email to all in the hope that at least a few readers will take action, just like the old ‘spray and pray’ approach. Why else do you think people refer to email marketing as sending an ‘email blast’?
Our agency has found that, even though qualifying your audience means shrinking your email list, results are still strong. In fact, we increased open rates by 39.82% by sending the same email again to people who didn’t open the first time.
Whether you call it lifecycle marketing or retention marketing, it works. With the data you already have in your database, you can grow your patch of dandelions by sending thoughtfully-targeted messages based on a customer’s activity and sales history:
- Emails to customers who have reached milestones in their ownership of your product
- Follow-up emails for customers who interacted with your business recently
- Reminders of new products and features for current customers
When our agency began email marketing services for a dealership in Canada, we were able to reach more than 2,200 leads in their database and grow their email traffic by more than 22% in just two months.
These are just a few ways your business can use its email as leverage to make impactful connections with leads and customers.
Use Email Lists in Facebook Advertising Attribution
You might already know that your business can use email lists to target people with Facebook ads, but did you know that the same email lists can be used for attribution?
With Offline Events in Facebook, your business can measure how many people saw or clicked your ad before converting as a lead or making a purchase. All you need is an Offline Events set and your CRM data.
When you use your email list to create a custom audience in Facebook, you can also use that custom audience to find similar people in your market. These lookalike audiences are a powerful way to propagate more leads on Facebook with your CRM data.
If your business is advertising a specific product, use a list of people who have purchased that product to create a custom audience, and then use that custom audience to generate a lookalike audience.
Using Your Database in Search Engine Advertising
Google’s advertising platform has a feature called Customer Match, which, as the name implies, allow you to advertise directly to a specified group of contacts.
These lists can also be excluded, which allows your business to prevent wasting valuable ad money on people who have recently converted or purchased.
Much like the Custom Audiences in Facebook, Customer Match on Google lets you create customized experiences based on users’ attributes or lifecycle stages in their journey toward a purchase.
It’s also worth noting that the lists you use on Google can also be used on Facebook as well as your marketing emails. This efficiency also helps your business create a unified multi-channel message.
Lead Tracking and Attribution
A resilient marketing strategy relies on good data, and you can use your database to make informed decisions about how your business can set root in more fertile ground.
In addition to the Facebook Offline Events we discussed earlier, your data can also be integrated with third-party attribution software.
This impartial software allows you to calculate the return on investment for each of your key marketing activities, including both digital and traditional tactics.
At 9 Clouds, we’ve been able to leverage CRM data to calculate return on ad spend (ROAS) for many clients, showing them exactly how many dollars they got in return for every dollar spent on various platforms.
And while all of these marketing tactics can be evaluated separately, there are also lead tracking platforms which can turn your database into a gold mine of revenue.
Lead tracking qualifies contacts based on their behavior, so you’ll need a tracking pixel on your website to see which pages your email contacts are viewing. We recommend SharpSpring or HubSpot for this task.
Propagate New Business With Your List of Email Addresses
Are you tired of your business getting plucked before it blooms? Think like a dandelion! Use your CRM to unlock new business with our Lead Tracking for Auto Dealers ebook.
If you crave more useful data on your contacts — or if you have the data, but you aren’t sure how to use it — this is the perfect eBook for you.
Download your free copy today to learn how to bring your CRM into the 21st century, and how to use all the data available to you to better qualify (and close!) leads for your dealership.