How consistent audience-centric data improves business earnings
Building an audience-centric customer relationship management system will make it easier to spot customer patterns, Adverity’s Mark Debenham said.
Consumers will not feel valued if they receive communications from brands that do not resonate with them. This is why developing an audience-centric customer relationship management system is essential, especially for a business’s revenue.
“When that data is coming into the CRM, you can link it back to marketing and sales actions. By linking all this data, you then have accurate insights into what is performing well and what needs to be improved, and as a business you can pivot quickly.” Mark Debenham, vice president of growth marketing & operations at Adverity, told Asian Business Review at the sidelines of HubSpot’s INBOUND 2023 in Boston, Massachusettes.
“If you prioritize audience-centricity in that data too, then the main benefit is that it makes it much easier to surface insights about your customers,” Debenham added.
When marketers have an audience-centric CRM, it ensures the most relevant information is being sent to the right people at the right time.
For example, Debenham said when sending emails, you need to harness your CRM data to ensure the message is tailored to the audience and their needs, otherwise. If that data is inaccurate, it puts your communications at risk of coming across as vague or irrelevant. Accurate data leads to a more personalized and enhanced experience for your audience, Debenham further explained.
“When your data is accurate, you are able to engage with your audience in a more meaningful way. The content they receive is relevant and adds value. You’re demonstrating that you understand their business goals and the challenges that they are facing, rather than just sending another set of communications. Adding value helps build trust and means you are in a much better position to help them with both,” explained Debenham.
Another example of audience-centric CRM is taking an interactive tour of your products, which some customers might prefer.
“Audiences expect to be able to try before they buy. Before an individual enters your CRM, their first interaction is usually with your website, making it a fantastic opportunity to set the right expectations for them. At Adverity, we showcase our product by offering our website visitors the chance to take an interactive tour of our platform in just a few clicks, where they learn how to ingest data from a data source. After trying out the tour, then can then explore our platform further by taking out a free trial straightaway or booking a call with a member of the team to learn more.”
According to Debenham, there are some common mistakes in CRM, such as overengineering the amount of data entry that salespeople and account managers need to input.
“The problem is that some people will record lots of information while others record very little, so you end up with an inconsistency, which can make it tricky to forecast," said Debenham.
"It’s better to highlight the data points that are essential and then explain to CRM users why these defined data points are so important, and how they support business goals. By doing that, it will not only simplify the process but will also increase the chances of the most important information being surfaced,” added Debenham.
The other common mistake when dealing with CRM is having too much data and not knowing what to do with it. It can be overwhelming and lead to a kind of analysis paralysis, especially if you cannot find a pattern or trend in it.
“Regardless of the CRM user, nobody wants to spend too much time on manual data entry, especially if it doesn’t lead to an actionable insight that can benefit them in their role. Having certain tools in your tech stack can help you rectify that, but that can only happen if your data is consistent, secure and accurate in the first place,” said Debenham.