Customer Relationship Marketing (CRM) has never been as important as it is today. While the core tenets of CRM still hold true, MIM practices CRM in an increasingly complex, dynamic and challenging marketing environment—one that offers CRM marketers the chance to unleash CRM's true potential.
CRM has traditionally built relationships between the brand and the consumer, primarily through one-on-one dialogue. Now we have improved tools, channels and dynamics with which we can elevate this interaction: better, less costly consumer data and analytics; new interactive media channels and forums; potent influencer systems; and revolutionary, barely imagined content possibilities. Deftly employed, these tools have the potential to accelerate and deepen the brand-consumer relationship. Advanced CRM is manifest in a truly "personalized" level of brand interaction.
MIM brings specialist expertise and best practice to bear, harnessing these tools to catapult our client's CRM success. Key pillars of our approach are:
1. Employ advanced data analytics to enable more precise targeting and client investment in stricter proportion to consumer value and vulnerability.
Analytics remains the key lever in driving improved ROI through CRM.
2. Leverage better data and next-generation data systems
Enable companies to achieve and sustain a larger, more efficient and more integrated CRM practice.
3. Take optimal advantage of the inherent and complementary strengths of both on- and offline media touch-points.
4. Foster community and Word-of-Mouth as they become more potent consumer factors than ever before.
Through the internet and other Word-of-Mouth channels, peers, experts and other commentators all have voices which influence consumer brand attitudes and behavior. In fact, peer influence now trumps all other media and sources as the single most influential factor in brand consideration. A robust CRM practice monitors and impacts what key influencers do and say about brands. One of CRM's key roles is winning influencer brand advocacy-the "Holy Grail" of CRM.
5. Create and disseminate compelling content-the catalyst for deep consumer engagement.
We are the market leaders in inventing new ways of embedding brand messages in traditional and new media channels, events, entertainment, and gaming environments. Brand messages are moving from being "adjacent" to content to being "inherent," or embedded, in content.
6. Guide brand presence in this digital age.
In the past, brands often differentiated themselves through CRM programs that added value, mostly for higher-value consumers, in the form of information, tools and rewards. The brand was the authority, handing down content to the consumer. Consumers were complicit in this hierarchical structure. In today's digital world, consumers both produce content and expect to have a voice in the brand. A successful brand today must shift its role from a singular authority to a facilitator, enabling and, where appropriate, moderating the "conversation" and collaboration within and around the brand community.