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Four Ways to Use CRM Data to Create Targeted Social Ads
According to CMO, marketers are on track to double their social media advertising budgets by 2023. Why? They know the ROI is huge. As of 2018, there were more than three billion people using social media worldwide. On average, those people spend two hours and 15 minutes every day looking at their social media feeds. How can you create effective social media ads? Based on an individual's online behaviors and previous interactions with your company, you can deliver content that is relevant to your audience. This super-targeted marketing strategy isn't just for big corporations with tons of resources. Personalized advertising on platforms like Facebook, Twitter, and LinkedIn is attainable for businesses of all sizes. How?
Leverage the data from your Customer Relationship Management (CRM) platform. Consider your CRM data the key to unlocking the power of social ads. Platforms like Facebook are making it easy. In 2012, Facebook began allowing advertisers to integrate CRM data into "Custom Audiences." That means if your CRM holds an email that Facebook matches to a user's account, you can add that person to a specific campaign. Using the power of your CRM data, you can segment your audience based on their purchasing behavior, which is stored in your CRM. Here are four ways to release the power of your CRM data by creating targeted social ads.
Use Key Data Points to Target Your Top Customers
While it might be 100 years old, economists still quote Pareto's Principle, which basically tells us that 80 percent of your sales are going to come from the top 20 percent of your customers. This top 20 percent is critical to growth, and they need to be treated far different than the average customer. Identify your top 20 percent, and create a targeted campaign just for them. Look at metrics such as purchase frequency, average order value and lifetime customer value.
What if you want to try to get new customers that are part of the same demographics as your top customers? Take the CRM data you've gathered on your top customers and build a lookalike audience. Facebook tells you just how to do it.
Offer Promotions Based on Purchase Cycles
Relevancy is key. Imagine if you could put an ad in front of your target audience at the moment they need your product. Your CRM enables you to do just that. First, use your CRM to figure out the purchase cycle of your product. If you sell facial cleanser, how long does it take the average person to go through a bottle? If you sell organic olive oil, how often do your average customers place an order? Armed with that data, use your CRM data to identify customers that are nearing the end of their purchase cycle. Offer incentives through your social ads that will prevent them from trying out a new brand. Promotions such as free shipping and special discounts will be relevant to social media users since they are going to be in need of your product soon.
Recommending "complementary" products isn't just an effective strategy for Amazon. Combine your CRM data with analytics tools offered by social media platforms. These analytics allow you to see who's buying what. Here's an example. Let's say you sell organic baby food. Comparing your list of customers from your CRM who have bought organic baby food with social media analytics will reveal that those same customers frequently purchased cloth diapers. Reason tells us that the reverse would be true, those buying cloth diapers might also want your organic baby food. Next, target new customers that have bought cloth diapers since your baby food is likely to be relevant to them as well. Offer special promotions for these complementary products. Since your target audience is most likely in the market for your product, you want to stand out from other brands.
Integrate Sales and Marketing
To fully leverage the power of a CRM, it's critical to pick the right one. A complete CRM platform integrates sales, marketing and customer service. These three critical departments hold key data that is powerful when shared. Combine that data with social media analytics and tools, and you'll be able to create target social ads that convert.
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