Customer Relationship Management (CRM) is a strategy for managing your company’s current and future customer data. It costs less money to retain a current customer than it does to acquire a new one so it’s really important for companies to keep data associated with each customer so they can market to those customers in the future.
Advertisers and brands have been working with or using LiveRamp in association with their CRM files for years. What typically happens is the brand will work directly with LiveRamp to securely upload the data from their CRM file and target that file to serve these types of programmatic advertisements –
- display
- native
- connected TV
- video
- audio
The goal of most CRM marketing campaigns is to get those users to purchase different items, repurchase items, or create a lookalike audience off of those users to fill the conversion funnel with new users that look like the brands’ “best costumers.”
LiveRamp’s match rates tend to be within the range of 30-40% and they recommend starting out with a pretty large customer list of 500,000 line items. They also tend to charge a pretty large monthly fee, so to run CRM marketing campaigns, brands tend to run with a programmatic agency like Above the Fold or a demand-side platform (DSP).
Above the Fold has an alternative to this type of targeting that has a match rate of 90+%. We are able to get such a high match rate because our targeting is based on public record plat lines and lat-long technology.
The barrier to entry for advertisers and brands is lower because you don’t have to have a large CRM file (a large number of line items) to do this type of targeting. We do have the ability to target via LiveRamp, but we also have the ability to target via plat lines on homes for advertisers who don’t have a large user base.
Above the Fold is able to curate addressable audiences in real-time from 126 million U.S. households. We can filter by location and also filter by over 500 demographic, political, and economic variables on top of those location variables.
CRM is a great initiative to focus on if your company is more direct-response-focused and focused on lower-in-the-funnel actions. We typically recommend this tactic alongside site retargeting for more direct-response-focused advertisers.
One strategy that advertisers use, that we don’t see used often enough, is taking their CRM file audience and removing it from their prospected targeting efforts. Prospecting campaigns are meant to target new users, so there is no need to target your current customer base when prospecting for new customers. We recommend that advertisers take their current customer list and suppress that file from their prospecting efforts to save money and focus their budget on acquiring new users.
Let’s connect, jump on a discovery call, or otherwise figure out how Above The Fold can help you achieve your company goals.