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Become a Marketing Data Expert in Four Easy Steps

Client Relationships, Research & Insights 0 Comments

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Analyzing data is no longer just for aggregators or other professionals. Although, at first glance, data may seem like a boring topic, it can help your marketing efforts exponentially and give you insights you might not have otherwise. Leveraging your CRM data is the first place to start.

Customer Relationship Management systems (CRMs) allow businesses to manage all of their data and client interactions in one location. Beyond being a great organizational tool, a CRM can help you leverage the information provided and enhance your marketing strategy. Here are four ways you can use your CRM data to its full potential:

1. Track Client and Prospect Engagement

With the our new Campaigns and integration with Redtail, it’s easier than ever to see who is viewing your emails, what they are doing after they view them, and what you should do about it. For example, after syncing your Redtail contacts into your FMG Suite dashboard, you see that Jane, 45, opened your Monthly Market Insights email. She then went to your website to find more information. It would make sense, then, to reach out to Jane to see if you could answer any questions she may have about her financial plan. The raw click through data quickly turns into an opportunity to reach out.

2. Create Ideal Personas

In the past, we have talked a lot about personas and how they can influence your marketing. Personas are breakdowns of your ideal clients and provide you with a concrete profile to target with your marketing efforts. Using a CRM, you can see who engages with your content the most and create campaigns and other marketing outreach efforts that attract these kinds of clients.

3. Personalize Messaging

CRM systems are based on client information like name, age, working anniversary, and other core concepts. But what does all this data mean for your marketing? Financial advisors can use this information to create targeted lists and send out materials based on that audience. For example, you can segment your lists into those of retirement age, younger clients, and single or married clients. Personalized messages to each of these lists are going to be much more effective than one general message.

4. Adjust Marketing Strategies

After using a CRM for a few months, you will be able to analyze the past performance of your marketing efforts. If, after 3 months, you see little to no engagement with a piece, would you continue to send it out? Our guess is likely not. Instead, it would make sense to adjust your strategies and do more of what works and less of what doesn’t. Review your data every few months and make changes accordingly.

After breaking “data” down into simple action items like these, your analytics can go from boring number crunching to insightful feedback. There are countless ways to use a CRM to your advantage and the more you use the system, the more familiar you will be with what you can and can’t do. For more information on our partnership with Redtail, a leading CRM software, click here.

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