Data-driven marketing – the use of customer data to drive marketing and sales processes – has been credited with delivering an average ROI of 145 percent, nearly double that of traditional marketing methods.
For many dealers, customer data is scattered throughout a number of different databases, making it a challenge to collect and consolidate, then mine for useful marketing information. Investing in a CRM system that aggregates, cleanses and validates this information is the first step in crafting marketing campaigns that really resonate with customers and prospects.
Here are some tips for choosing a system that builds and optimizes your customer data:
- Collection – you need to be able to integrate data from every source within your company as well as from vendors.
- Cleanse and validate –consumers and dealers frequently enter data into their system inaccurately. Address standardization is done to improve the matching of addresses. By using standardized addresses, you can improve internal matching and be able to execute geographic maps or select with improved accuracy.
- Build customer history record – to understand a customer’s behavior, you need to understand a customer’s interaction with the dealer. By creating a master customer information record and populating it with details identifying the time, type, and transaction with the dealer, you get a useful database that adds greater value to your communications.
- Identify opportunity – sorting through the database to identify purchase habits and trends can create vast opportunities for future sales.
- Update and maintain – customer databases need to be updated and maintained on a regular basis; having a uniform system allows you and your employees to continually update and maintain this important asset.