Power of One-to-One Communications
According to a study conducted by the Direct Marketing Association, email remains the top performer among all other direct marketing tactics. With an average return on investment of $57.00 for every dollar spent how can you go wrong?
For starters, email marketing protocol and deliverability are two of the fastest evolving aspects of direct marketing. According to the DMA’s National Email Marketing Benchmark report, delivery rates for retention emails declined by 80% and acquisition emails decreased by 68%. The increase in permission requirements and recipient expectations is putting pressure on companies to step up their game.
The trend is moving away from one-to-many emails in favor of one-to-one communications. For this approach to be effective, companies need to do more than just personally address the email. They need to segment lists and content based on demographic, behavioral or transactional data.
While this approach may seem obvious, the actual implementation can be a nightmare for companies that aren’t equipped with a database of customer information. That’s where a CRM system comes into play. Customer Relationship Management (CRM) systems are invaluable tools for a sales force as they enable you to track key customer interactions and demographics, and ultimately engage in smarter selling. Integrating email campaign functionality into a CRM system produces the following added benefits
– Ability to send out relevant and timely messages
– Improved open rates
– Fewer spam complaints
– Stronger customer relationships
– Shorter sales cycle
– Email automation
At iCORE, we developed a propriety CRM system, ORiGIN, which is specifically tailored for commercial real estate. This enables each of our offices to track relevant information such as lease expiration date, building requirements, industry focus, portfolio spend and cost of each transaction.
Recognizing the power of targeted marketing, we integrated email campaign functionality directly into our CRM. As a result, our CRE professionals are able to segment and target their clients at the right time with the right message. For example, our offices are able to automate an email to their clients 24 months before their lease expires. This courtesy reminder opens up the conversation and helps strengthen the client relationship.