Are You Getting the Full Value Out of Your CRM Software?
At the most basic level, your customer relationship management (CRM) software should help you manage your relationship with your customers. That means things like the ability to store a directory of your customers’ information online, send marketing email, and manage feedback loops. While all this is a great first step, there’s a lot more you can be doing to get the full value out of your CRM. Here are some of the advanced features in Square’s CRM software that will help you grow your business:
Analytics to understand your customers
You can’t have a successful business without an idea of who your customers are and what they’re buying. The Customer Insights feature in Square’s CRM software shows you how often people come in, and what they buy and spend when they do. You can view simple graphs and charts that track customer retention, and monitor and review feedback in your Dashboard, sorted by date. These are all invaluable insights to help you adjust your business — and then grow it.
Segmented email lists
Blasting your entire subscriber base with one email marketing message may not be the smartest strategy. It’s worth testing how different types of messages perform with difference audience segments. In Square’s email marketing service (part of Square’s CRM software), your customer list is automatically segmented by regular, casual, and lapsed customers. Regular customers may be more engaged with an email about a VIP event, for example, while lapsed customers may be more apt to open an email announcing a limited-time mega-offer. Test out how each type of email performs against each audience segment. This helps you hone your strategy and know where to put your energy.
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Automated email campaigns
Automated email isn’t just attractive because you can “set it and forget it.” Turns out automated email like welcome messages, birthday offers, prompts asking customers to check out your business on Yelp, and winback campaigns far outperform one-off campaigns to your entire customer list. On average, the open rates for automated offers with Square’s email marketing service are 1.7 times higher than offer campaigns that are blasted to the entire customer base. They’re also more lucrative, with 2.3 times higher redemption rates within seven days of the email send date.
Run social media campaigns
Take advantage social media integration features in your CRM software. Square Customer Engagement has Facebook Ad Integration to help you target customers on Facebook, get new customers in the door, and increase sales effectively. Square seller Big Daddy’s Catfish and Seafood in Lake Park, Georgia, for example, recently drove more than $400 in sales from just $10 in Facebook Ads.
Offer loyalty programs
Wondering where to double-down on your marketing efforts? Start with employing strategies to encourage repeat shopping. Studies have found that when customers come back in to shop, they spend roughly 67 percent more than first-time customers. Utilizing the rewards program in Square’s CRM software is a great way to encourage repeat buying. Square Loyalty is a punch-card program that automatically tracks and rewards customers based on how many times they’ve come in to buy something. You can select how often you want to reward your customers and how much they get as a reward — either as a percentage or a dollar amount off. With an added incentive like a punch-card program, customers are more likely to choose your shop over the competition.
Your CRM software should be a key tool in helping you understand and then engage with your customers. So make sure you’re using it to its full potential to help grow your business!
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