Advertising is a multi-billion dollar industry in which companies are investing huge amounts of money to drive holiday sales. According to the American Association of Advertising Agencies a 30-second national television commercial averages $342,000 (that's more than £268,000). And notably, a recent study by ORC Internationalreported that 76% of respondents block ads online and skip traditional TV ads.
This begs the question, who’s seeing these ads? Both digital and traditional advertising proves to be an expensive and at times ineffective method for garnering engagement.
For those looking for a more sustainable solution, business owners can leverage Customer Relationship Management (CRM) to increase holiday sales and maintain the holiday momentum into the new year—making CRM the gift that keeps on giving.
The Customised Experience – Quality data is our best ally in understanding consumers and arming businesses with the information needed to anticipate their needs, a Revel CRM is a first step in achieving this goal. The ability to manage your customer’s preferences means you always have an up-to-second depiction of their buying habits and profile.
The digital equivalent to a handwritten holiday card, CRM enables businesses to personalise their products.
Engagement Beyond The Store – With CRM you can streamline your online marketing messaging and engage with a finer, more targeted audience. Through the use of social media customers can be encouraged to like, retweet, share and/or provide online feedback—making them the engine of brand advocacy.
Incentivise Loyalty – A study inHarvard Business Review finds that at minimum it costs five times more to attain a new customer than retain an existing one. Thus, fostering long-term relationships is vital for increasing long-term sales and brand share of voice.
Small incentives and rewards can increase customer retention and encourage customers to spend more. With the Revel Loyalty Program and Gift Cards businesses can issue branded and customised gift cards and loyalty programs while also tracking customer’s point progress.
This season treat your business to the most rewarding gift of all, the gift of loyalty.