Connect with us


Customizing Your CRM for a Unique Sales Strategy



Customizing Your CRM for a Unique Sales Strategy

Modern businesses use CRM (Customer Relationship Management) to maintain and enhance customer relationships. The focus on customized CRM solutions has increased in the past couple of years because customer needs have become the center of growth for every organization.

Reports suggest that there will be a steady growth of 12% in the number of companies electing to use a CRM system between now and the year 2028.

A CRM strategy is a company-wide plan devised to increase revenue (and profits) and improve customer relationships through planned actions and technological applications. One can easily deduce that to develop a unique sales strategy, the role of CRM in sales strategy is crucial.

This article will teach you how to customize your CRM so that you can set and achieve your business goals.

Importance of customizing a CRM for sales strategy

The role of CRM in sales strategy is tremendous in every business today, and this can be conduced from the fact that 57% of businesses perceive CRM platforms as the most valuable software.

When it comes to putting sales strategy into action, your current CRM will greatly assist you by helping you consolidate data through a customer journey map. It would also provide insight into your customers’ online activity. However, CRM customization adds or modifies new features to make the software a better fit for your company’s sales strategy.

The majority of customer relationship management systems provide you with sufficient capability out of the box to manage all usual use-case situations. With a bespoke or customized CRM solution, you no longer need to use different SaaS services for every operation. Customization paves the door for far more value to be extracted from your CRM product by adapting it to your particular requirements.

An example of a CRM marketing strategy would be to focus on specific touchpoints for leading prospective clients to the sales pipeline. You can customize your CRM to collect the required data. It would allow you to analyze customer behavior and create more touchpoints, eventually aiding in more effective sales strategy development.

Defining your unique sales strategy

Before you customize your CRM, you need to lay out what you want to achieve with the customization in black and white. You must define your unique sales strategy before changing your existing CRM.

Sales teams use a sales strategy to meet sales objectives and directly offer products and services. Every company has to have a unique sales strategy since it is essential to generating income. A unique sales strategy allows a company to plan out whom it will sell to and how it will do so.

Why develop a unique sales strategy?

You can expect better outcomes, improved team performance, and higher sales with a unique sales strategy.

If you want to succeed in B2B sales, it doesn’t matter how amazing your product is; you need to be strategic.

That does entail having strong B2B marketing, but it also means putting in place a successful sales process so that your team can keep track of transactions that have been won and lost after they have been closed. And the more effectively you execute your approach, the more revenue you can generate.

Aspects of unique sales strategy

There are always going to be two distinct approaches to CRM strategies in marketing, regardless of the sector you work in or the organization in which you are employed:

Your choice is whether you focus on both or just one of these aspects.

Inbound sales strategy

Because marketing collateral can attract a buyer’s attention, the inbound marketing sales approach might be regarded as a marketing strategy . They come into the sales funnel already understanding the products or services offered by your firm, making them warm leads. After that, content is utilized to enlighten, educate, and nurture prospects as they work their way through the decision-making process.

Outbound sales strategy

In outbound lead generation, the primary emphasis is making cold phone calls and sending emails to prospective customers. Because these purchasers have no interest and often do not know anything about your firm, your sales team must persuade them that your solution is a suitable match for them.

Customizing your CRM to support your sales strategy

There are numerous aspects to customizing CRM strategies in marketing. We have outlined a few crucial ones below:

1. Customize your CRM for relevant sales leads

With your unique sales strategy in place, you will now depend on the right sales leads in your customized CRM solutions. You can customize your CRM to generate relevant sales leads so your team can start working on them.

The right leads will enable you to make judgments based on solid information and take appropriate measures in response to various leads. A CRM marketing strategy example here would be to direct prospective marketing spending. You will need to collect multiple lead sources. This will allow you to make more informed business decisions.

2. Customize your CRM for better customer information

You can effectively use market and customer segmentation if you get the appropriate data from your customers. By segmenting your market, you may better focus your resources and make more informed choices for your company.

In addition, it helps you to contact prospective clients in a manner that is more effective and tailored to their needs. For instance, you may customize your email marketing campaigns and send them to certain areas of the world, specific sectors, or specific target groups.

3. Customize reports

It is necessary to understand the importance of customized reports for your company. For instance, find out which of your sales team is the most active and examine the factors contributing to their success. There are many different approaches to customizing reports; thus, you should choose the most suitable for your business and tailor your solution to generate the required reports.

4 Customize the buying experience

Your sales staff should be prepared to answer prospective customers’ questions about the product. Your company needs to understand the customer experience of the demographic you want to attract. This will enable your company to communicate with customers smoothly over various channels, including live chat, phone, video, and email.

When a prospective customer contacts a member of your sales team, that team should have a complete understanding of the customer’s frame of mind. Your sales staff will be able to create a stronger connection with the prospect and persuade them to purchase if they have access to such information.

5. Customize communication with customers

Personalizing your conversations with prospective customers might help them feel like they are receiving individualized attention. Because of this, you should consider incorporating prospective customers’ contact data and the activity observed by analytics tools into your CRM. You may simply customize emails depending on the actions and preferences of customers by using the information in this collection.

Measuring the success of your customized CRM

Customizing your CRM would be in vain unless you know what you have achieved through it. You must ensure to measure the success of your customized CRM, and based on the results, you can make more changes to CRM if needed. Here are some metrics to keep track of when measuring the success of your customized CRM:

Length of the sales cycle

The duration of your sales cycle is measured in the number of days it takes to gain a new client, beginning with prospecting and ending with the transaction being closed and the money deposited into your account. It would be great if it were shorter.

Quality of leads

There is a one-to-one relationship between the quality of the leads that come into your sales funnel and the level of accomplishment you experience with the CRM you have chosen to use. CRM software makes prospecting, generating leads, and scoring leads more efficient.

If you see a significant improvement in the quality of the transactions already in your pipeline, you may deduce that your staff effectively uses the system’s advantages.

Close rate

The close rate is the sales indicator that best reveals how well your sales organization is doing. In many different ways, the successful deployment of CRM helps boost closure rates.

Reps can see the whole history of communication that has taken place between a lead and the firm in the CRM record, regardless of who was in charge of managing those interactions. They now have access to the whole context and can direct their efforts toward meeting each lead’s particular requirements and preferences.

Final Thoughts

The effectiveness of customer relationship management (CRM) software is highly dependent on its usefulness and usability. Your sales staff will use your customer relationship management system effectively if it is helpful and easy to use.

Most importantly, the value that your sales team derives from a CRM software that is both effective and usable is likely to increase.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address


Comparing Credibility of Custom Chatbots & Live Chat



Building Customer Trust: Comparing Credibility of Custom Chatbots & Live Chat

Addressing customer issues quickly is not merely a strategy to distinguish your brand; it’s an imperative for survival in today’s fiercely competitive marketplace.

Customer frustration can lead to customer churn. That’s precisely why organizations employ various support methods to ensure clients receive timely and adequate assistance whenever they require it.

Nevertheless, selecting the most suitable support channel isn’t always straightforward. Support teams often grapple with the choice between live chat and chatbots.

The automation landscape has transformed how businesses engage with customers, elevating chatbots as a widely embraced support solution. As more companies embrace technology to enhance their customer service, the debate over the credibility of chatbots versus live chat support has gained prominence.

However, customizable chatbot continue to offer a broader scope for personalization and creating their own chatbots.

In this article, we will delve into the world of customer support, exploring the advantages and disadvantages of both chatbots and live chat and how they can influence customer trust. By the end, you’ll have a comprehensive understanding of which option may be the best fit for your business.

The Rise of Chatbots

Chatbots have become increasingly prevalent in customer support due to their ability to provide instant responses and cost-effective solutions. These automated systems use artificial intelligence (AI) and natural language processing (NLP) to engage with customers in real-time, making them a valuable resource for businesses looking to streamline their customer service operations.

Advantages of Chatbots

24/7 Availability

One of the most significant advantages of custom chatbots is their round-the-clock availability. They can respond to customer inquiries at any time, ensuring that customers receive support even outside regular business hours.


Custom Chatbots provide consistent responses to frequently asked questions, eliminating the risk of human error or inconsistency in service quality.


Implementing chatbots can reduce operational costs by automating routine inquiries and allowing human agents to focus on more complex issues.


Chatbots can handle multiple customer interactions simultaneously, making them highly scalable as your business grows.

Disadvantages of Chatbots

Limited Understanding

Chatbots may struggle to understand complex or nuanced inquiries, leading to frustration for customers seeking detailed information or support.

Lack of Empathy

Chatbots lack the emotional intelligence and empathy that human agents can provide, making them less suitable for handling sensitive or emotionally charged issues.

Initial Setup Costs

Developing and implementing chatbot technology can be costly, especially for small businesses.

The Role of Live Chat Support

Live chat support, on the other hand, involves real human agents who engage with customers in real-time through text-based conversations. While it may not offer the same level of automation as custom chatbots, live chat support excels in areas where human interaction and empathy are crucial.

Advantages of Live Chat

Human Touch

Live chat support provides a personal touch that chatbots cannot replicate. Human agents can empathize with customers, building a stronger emotional connection.

Complex Issues

For inquiries that require a nuanced understanding or involve complex problem-solving, human agents are better equipped to provide in-depth assistance.

Trust Building

Customers often trust human agents more readily, especially when dealing with sensitive matters or making important decisions.


Human agents can adapt to various customer personalities and communication styles, ensuring a positive experience for diverse customers.

Disadvantages of Live Chat

Limited Availability

Live chat support operates within specified business hours, which may not align with all customer needs, potentially leading to frustration.

Response Time

The speed of response in live chat support can vary depending on agent availability and workload, leading to potential delays in customer assistance.


Maintaining a live chat support team with trained agents can be expensive, especially for smaller businesses strategically.

Building Customer Trust: The Credibility Factor

When it comes to building customer trust, credibility is paramount. Customers want to feel that they are dealing with a reliable and knowledgeable source. Both customziable chatbots and live chat support can contribute to credibility, but their effectiveness varies in different contexts.

Building Trust with Chatbots

Chatbots can build trust in various ways:


Chatbots provide consistent responses, ensuring that customers receive accurate information every time they interact with them.

Quick Responses

Chatbots offer instant responses, which can convey a sense of efficiency and attentiveness.

Data Security

Chatbots can assure customers of their data security through automated privacy policies and compliance statements.

However, custom chatbots may face credibility challenges when dealing with complex issues or highly emotional situations. In such cases, the lack of human empathy and understanding can hinder trust-building efforts.

Building Trust with Live Chat Support

Live chat support, with its human touch, excels at building trust in several ways:


Human agents can show empathy by actively listening to customers’ concerns and providing emotional support.

Tailored Solutions

Live chat agents can tailor solutions to individual customer needs, demonstrating a commitment to solving their problems.


Human agents can adapt to changing customer requirements, ensuring a personalized and satisfying experience.

However, live chat support’s limitations, such as availability and potential response times, can sometimes hinder trust-building efforts, especially when customers require immediate assistance.

Finding the Right Balance

The choice between custom chatbots and live chat support is not always binary. Many businesses find success by integrating both options strategically:

Initial Interaction

Use chatbots for initial inquiries, providing quick responses, and gathering essential information. This frees up human agents to handle more complex cases.

Escalation to Live Chat

Implement a seamless escalation process from custom chatbots to live chat support when customer inquiries require a higher level of expertise or personal interaction.

Continuous Improvement

Regularly analyze customer interactions and feedback to refine your custom chatbot’s responses and improve the overall support experience.


In the quest to build customer trust, both chatbots and live chat support have their roles to play. Customizable Chatbots offer efficiency, consistency, and round-the-clock availability, while live chat support provides the human touch, empathy, and adaptability. The key is to strike the right balance, leveraging the strengths of each to create a credible and trustworthy customer support experience. By understanding the unique advantages and disadvantages of both options, businesses can make informed decisions to enhance customer trust and satisfaction in the digital era.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading


The Rise in Retail Media Networks



A shopping cart holding the Amazon logo to represent the rise in retail media network advertising.

As LL Cool J might say, “Don’t call it a comeback. It’s been here for years.”

Paid advertising is alive and growing faster in different forms than any other marketing method.

Magna, a media research firm, and GroupM, a media agency, wrapped the year with their ad industry predictions – expect big growth for digital advertising in 2024, especially with the pending US presidential political season.

But the bigger, more unexpected news comes from the rise in retail media networks – a relative newcomer in the industry.

Watch CMI’s chief strategy advisor Robert Rose explain how these trends could affect marketers or keep reading for his thoughts:

GroupM expects digital advertising revenue in 2023 to conclude with a 5.8% or $889 billion increase – excluding political advertising. Magna believes ad revenue will tick up 5.5% this year and jump 7.2% in 2024. GroupM and Zenith say 2024 will see a more modest 4.8% growth.

Robert says that the feeling of an ad slump and other predictions of advertising’s demise in the modern economy don’t seem to be coming to pass, as paid advertising not only survived 2023 but will thrive in 2024.

What’s a retail media network?

On to the bigger news – the rise of retail media networks. Retail media networks, the smallest segment in these agencies’ and research firms’ evaluation, will be one of the fastest-growing and truly important digital advertising formats in 2024.

GroupM suggests the $119 billion expected to be spent in the networks this year and should grow by a whopping 8.3% in the coming year.  Magna estimates $124 billion in ad revenue from retail media networks this year.

“Think about this for a moment. Retail media is now almost a quarter of the total spent on search advertising outside of China,” Robert points out.

You’re not alone if you aren’t familiar with retail media networks. A familiar vernacular in the B2C world, especially the consumer-packaged goods industry, retail media networks are an advertising segment you should now pay attention to.

Retail media networks are advertising platforms within the retailer’s network. It’s search advertising on retailers’ online stores. So, for example, if you spend money to advertise against product keywords on Amazon, Walmart, or Instacart, you use a retail media network.

But these ad-buying networks also exist on other digital media properties, from mini-sites to videos to content marketing hubs. They also exist on location through interactive kiosks and in-store screens. New formats are rising every day.

Retail media networks make sense. Retailers take advantage of their knowledge of customers, where and why they shop, and present offers and content relevant to their interests. The retailer uses their content as a media company would, knowing their customers trust them to provide valuable information.

Think about these 2 things in 2024

That brings Robert to two things he wants you to consider for 2024 and beyond. The first is a question: Why should you consider retail media networks for your products or services?   

Advertising works because it connects to the idea of a brand. Retail media networks work deep into the buyer’s journey. They use the consumer’s presence in a store (online or brick-and-mortar) to cross-sell merchandise or become the chosen provider.

For example, Robert might advertise his Content Marketing Strategy book on Amazon’s retail network because he knows his customers seek business books. When they search for “content marketing,” his book would appear first.

However, retail media networks also work well because they create a brand halo effect. Robert might buy an ad for his book in The New York Times and The Wall Street Journal because he knows their readers view those media outlets as reputable sources of information. He gains some trust by connecting his book to their media properties.

Smart marketing teams will recognize the power of the halo effect and create brand-level experiences on retail media networks. They will do so not because they seek an immediate customer but because they can connect their brand content experience to a trusted media network like Amazon, Nordstrom, eBay, etc.

The second thing Robert wants you to think about relates to the B2B opportunity. More retail media network opportunities for B2B brands are coming.

You can already buy into content syndication networks such as Netline, Business2Community, and others. But given the astronomical growth, for example, of Amazon’s B2B marketplace ($35 billion in 2023), Robert expects a similar trend of retail media networks to emerge on these types of platforms.   

“If I were Adobe, Microsoft, Salesforce, HubSpot, or any brand with big content platforms, I’d look to monetize them by selling paid sponsorship of content (as advertising or sponsored content) on them,” Robert says.

As you think about creative ways to use your paid advertising spend, consider the retail media networks in 2024.

Like what you read here? Get yourself a subscription to daily or weekly updates.  It’s free – and you can change your preferences or unsubscribe anytime.


Cover image by Joseph Kalinowski/Content Marketing Institute

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading


AI driving an exponential increase in marketing technology solutions



AI driving an exponential increase in marketing technology solutions

The martech landscape is expanding and AI is the prime driving force. That’s the topline news from the “Martech 2024” report released today. And, while that will get the headline, the report contains much more.

Since the release of the most recent Martech Landscape in May 2023, 2,042 new marketing technology tools have surfaced, bringing the total to 13,080 — an 18.5% increase. Of those, 1,498 (73%) were AI-based. 

Screenshot 2023 12 05 110428 800x553

“But where did it land?” said Frans Riemersma of Martech Tribe during a joint video conference call with Scott Brinker of ChiefMartec and HubSpot. “And the usual suspect, of course, is content. But the truth is you can build an empire with all the genAI that has been surfacing — and by an empire, I mean, of course, a business.”

Content tools accounted for 34% of all the new AI tools, far ahead of video, the second-place category, which had only 4.85%. U.S. companies were responsible for 61% of these tools — not surprising given that most of the generative AI dynamos, like OpenAI, are based here. Next up was the U.K. at 5.7%, but third place was a big surprise: Iceland — with a population of 373,000 — launched 4.6% of all AI martech tools. That’s significantly ahead of fourth place India (3.5%), whose population is 1.4 billion and which has a significant tech industry. 

Dig deeper: 3 ways email marketers should actually use AI

The global development of these tools shows the desire for solutions that natively understand the place they are being used. 

“These regional products in their particular country…they’re fantastic,” said Brinker. “They’re loved, and part of it is because they understand the culture, they’ve got the right thing in the language, the support is in that language.”

Now that we’ve looked at the headline stuff, let’s take a deep dive into the fascinating body of the report.

The report: A deeper dive

Marketing technology “is a study in contradictions,” according to Brinker and Riemersma. 

In the new report they embrace these contradictions, telling readers that, while they support “discipline and fiscal responsibility” in martech management, failure to innovate might mean “missing out on opportunities for competitive advantage.” By all means, edit your stack meticulously to ensure it meets business value use cases — but sure, spend 5-10% of your time playing with “cool” new tools that don’t yet have a use case. That seems like a lot of time.

Similarly, while you mustn’t be “carried away” by new technology hype cycles, you mustn’t ignore them either. You need to make “deliberate choices” in the realm of technological change, but be agile about implementing them. Be excited by martech innovation, in other words, but be sensible about it.

The growing landscape

Consolidation for the martech space is not in sight, Brinker and Riemersma say. Despite many mergers and acquisitions, and a steadily increasing number of bankruptcies and dissolutions, the exponentially increasing launch of new start-ups powers continuing growth.

It should be observed, of course, that this is almost entirely a cloud-based, subscription-based commercial space. To launch a martech start-up doesn’t require manufacturing, storage and distribution capabilities, or necessarily a workforce; it just requires uploading an app to the cloud. That is surely one reason new start-ups appear at such a startling rate. 

Dig deeper: AI ad spending has skyrocketed this year

As the authors admit, “(i)f we measure by revenue and/or install base, the graph of all martech companies is a ‘long tail’ distribution.” What’s more, focus on the 200 or so leading companies in the space and consolidation can certainly be seen.

Long-tail tools are certainly not under-utilized, however. Based on a survey of over 1,000 real-world stacks, the report finds long-tail tools constitute about half of the solutions portfolios — a proportion that has remained fairly consistent since 2017. The authors see long-tail adoption where users perceive feature gaps — or subpar feature performance — in their core solutions.

Composability and aggregation

The other two trends covered in detail in the report are composability and aggregation. In brief, a composable view of a martech stack means seeing it as a collection of features and functions rather than a collection of software products. A composable “architecture” is one where apps, workflows, customer experiences, etc., are developed using features of multiple products to serve a specific use case.

Indeed, some martech vendors are now describing their own offerings as composable, meaning that their proprietary features are designed to be used in tandem with third-party solutions that integrate with them. This is an evolution of the core-suite-plus-app-marketplace framework.

That framework is what Brinker and Riemersma refer to as “vertical aggregation.” “Horizontal aggregation,” they write, is “a newer model” where aggregation of software is seen not around certain business functions (marketing, sales, etc.) but around a layer of the tech stack. An obvious example is the data layer, fed from numerous sources and consumed by a range of applications. They correctly observe that this has been an important trend over the past year.

Build it yourself

Finally, and consistent with Brinker’s long-time advocacy for the citizen developer, the report detects a nascent trend towards teams creating their own software — a trend that will doubtless be accelerated by support from AI.

So far, the apps that are being created internally may be no more than “simple workflows and automations.” But come the day that app development is so democratized that it will be available to a wide range of users, the software will be a “reflection of the way they want their company to operate and the experiences they want to deliver to customers. This will be a powerful dimension for competitive advantage.”

Constantine von Hoffman contributed to this report.

Get MarTech! Daily. Free. In your inbox.

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading