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Machine Learning is Your Secret Weapon for Customer Acquisition Posted on : Mar 13 - 2020

If you’re looking for a strategy to get ahead when it comes to customer acquisition, machine learning can be your secret weapon. While machine learning does fall under the larger category of artificial intelligence (AI), it’s a bit more specific and can be extremely effective technology to pair with your customer and prospect database. True AI can think for itself like Lieutenant Commander Data from Star Trek. Machine learning, however, can automate tasks and apply predictive analytics that drive meaningful growth. Machine learning is the AI focal point for your customer relationship management (CRM) tool and can be the key to boosting your customer acquisition.

What does a CRM with machine learning do?

Businesses are quickly noticing that a CRM which incorporates machine learning is ideal for companies of all sizes because of the multitude of incredible features they offer. A CRM helps businesses capture important customer information, track interactions and purchases and can help businesses provide an excellent customer service experience. A CRM that includes machine learning adds the ability to access predictive analytics, automate email marketing campaigns and drive customer transactions. According to Gartner, the fastest growing sub segment for CRMs is marketing automation, which increased by 18.8 percent and represented 25 percent of the entire CRM marketing space in 2018.

Additionally, a CRM with machine learning can help with customer acquisition in these key areas:

Defining personas – Analytics from machine learning can help businesses create personas, or sample customers, which can then be used to segment consumers and create persona-specific marketing strategies. By creating a “lookalike” with personas, you can target potential new customers based on solid data points.

Focused content creation –A strategic content creation strategy will assist your company in creating highly-focused content that speaks to specific customer groups. You can also determine which pieces of content get the most click-throughs or engagement and use that to create similar content.

Targeted lead generation – By tapping into the marketing automation aspect of machine learning, you can generate more targeted leads. Rather than sending out blanket marketing and sales collateral and seeing what sticks, use data and automation to deliver content in a timely, targeted and tailored fashion. Companies that have utilized machine learning for lead generation have seen a more than 50 percent increase in leads and appointments.

Effective data collection – Automating tasks such as data collection can be a huge help to your employees. In fact, a recent survey reported 46.5 percent of employees said the time it takes to enter data into their CRM  was an issue. Therefore, when accurate customer data including contact info, purchase history and previous communication notes are already loaded in and available to your employees at the click of a button, your customer service goes from average to exceptional—increasing the likelihood of repeat purchase. View More