Whether you sell products or services to other businesses, sometimes your greatest leads are the ones you already have: the leads that aren’t quite ready to commit to you and your offer. In fact, most potential customers aren’t quite ready to commit at the point of expressing an interest in your business but could be persuaded in the future. But it isn’t just those at the top of your sales funnel that need nurturing. You may have potential customers who are mid-way through the funnel or customers who have already left and can be brought back to the table because they know and trust your brand. That is why lead nurturing is so crucial for businesses and where remarketing comes into play.
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What is CRM Retargeting?
Let’s imagine you are a potential customer. Your business is in catering and you need a new wine supplier so you have been scouring the internet and researching for the best suited wine supplier. A day or so later, you then come across an ad for one of the businesses on Facebook. That is CRM Retargeting.
From a businesses perspective, CRM retargeting takes first-party data stored in your CRM, POS and other systems and targets your audience using personalised remarking content.
So say you have been looking at Pinot Noir on the website of another wine supplier and you sign up to their mailing list, a couple of days later you might receive a personalised email giving you an offer on the different types of Pinot Noir this supplier has to offer. But this data is not just taken from the activity of a potential customer online, this data can also come from offline interactions. Nevertheless, all data does point to well targeted ads that will appeal to you because of your interest in that business.
Why Retargeting Works
More Personalised Content
CRM retargeting offers businesses a way to personalise the content that they retarget, doing a better job of converting website visitors into customers than pixel-based retargeting. CRM retargeting can base personalisation off a potential customers’ contact information, including; company and lead score.
A Ready-Made Audience
One of the best things about retargeting leads is that they are on your lists because they want to hear from you company and they expect to. Because of this, they are more likely to respond positively to your retargeting ads.
Focus Your Budget
Because CRM retargeting allows you to create highly personalised ads, it encourages businesses to build specific audiences and prioritise their ad spend for more effective ads. Leading to higher conversions and increased revenue rather than targeting cold leads.
Reach More Prospective Customers
Before techniques such as retargeting, marketers relied on methods such as email marketing to reach potential customers. Unfortunately, today emails are often left unread in your leads’ inboxes or sent straight to the trash. CRM retargeting not only gives businesses an alternative method to reach their CRM contacts but in fact complements methods like email marketing.
Who should you target?
Account Based Marketing
Most businesses have a categorised CRM list that is specifically for Account Based Marketing. Retargeting can help you reach your target company’s key decision makers by leveraging the data from your ABM list, adding them to your ad networks and sending personalised offers.
Top of the Funnel Leads
The main aim of using your CRM data is to get your leads moving down the sales funnel so retargeting is a key way of leveraging that data. You can offer top-of-the-funnel leads offers such as free content downloads and retarget them with offers like a free trial of your services to get them moving down the funnel.
Bottom of the Funnel Leads
Sometimes qualified leads go cold but there are always ways to bring them back to the table. A common way of retargeting bottom-of-the-funnel leads is with a personalised offer to speak with a member of your sales team.
Your current client base is the perfect sales ground for up-selling or cross-selling your services. A business might upgrade an existing customer to another service package or offer them add-ons to their existing package. This may not work for every business and often is successful for businesses with strong or longer-term customer relationships or if a customer’s contract is coming to an end, you might retarget them with a personalised offer to ensure that you keep their business.