CRM Talks #19 with Alena Kalmykova

Head of Retention at a leading iGaming company unpacks why a CRM marketer can be an exceptional asset to any organization, shares insights on how CRM marketing drives business success, and discusses the top three trends shaping the future of CRM.

We’re diving into another exciting episode of CRM Talks with Alena Kalmykova, Head of Retention at a leading iGaming company.

Alena will be unpacking why a CRM marketer is not just another cog in the wheel but can be an exceptional asset to any organization. She’ll also share her insights on how CRM marketing drives business success and discuss the top three trends shaping the future of CRM.

Could you provide your definition of CRM?

I always divide this field into two distinct ways: CRM for business and CRM for personal growth.

CRM for business is all about creating a smooth customer journey that keeps customers happy and loyal. It’s not just about bombarding customers with discounts and offers to bring them back. Instead, it’s about crafting engaging experiences, informative stories, and valuable product improvements. When all these things work together, customers don’t just feel satisfied — they sometimes feel thrilled, which leads to more revenue for the business.

On the other hand, CRM, for me, is the fusion of diverse interests in life, such as marketing and creativity, analytics and technical proficiency, empathy, and psychology. The harmonious blending of these skill sets transforms an ordinary CRM marketer into an exceptional one.

Why is it necessary for companies to implement CRM?

CRM is the backbone of any business looking to grow. It’s all about handling customer data, which is like the fuel for your business engine. But let’s face it, collecting good data can be a real challenge. It’s like trying to catch lightning in a bottle — tricky.

With CRM, you’re not just dealing with data; you’re opening the door to valuable insights.

You can spot opportunities for your business to expand or nip problems in the bud with your current customers. It’s like having a roadmap that shows you where to go next.

Here’s the golden rule: Every business wants to make money. And the easiest way to do that is by making the most of what you’ve already got — your current customers and the data you’ve collected from them. It’s like having a treasure chest of gold right in your hands. Why go searching for buried treasure when you’re already holding a fortune?

So, in a nutshell, CRM is your trusty companion on the path to business success. It’s like having a GPS for your business growth, helping you navigate the twists and turns of the market.

Which CRM key metrics do you use?

In my work, I utilize CRM metrics, which can be analyzed from various perspectives, including:

User Engagement: This metric considers factors like the number of active days on the product, the duration of gaming sessions, retention into the following month, and more.

Customer Validity: This involves analyzing the average deposit amount, customer lifetime, and overall profitability.

Customer Satisfaction: This aspect depends on factors such as the speed of support response and issue resolution, the frequency of communication, the choice of communication methods, and more.

It’s essential to avoid fixating on a single metric because CRM simultaneously encompasses a broad range of factors.

What are common mistakes made when working with CRM?

CRM mistakes can be categorized into two main groups: minor, day-to-day issues, and major, strategic challenges.

Minor, everyday issues often involve actions like repeatedly sending the same content to the same users or inundating them with multiple daily emails due to mishaps in trigger campaigns. Surprisingly, even seasoned CRM marketers can fall prey to these mistakes, emphasizing the importance of triple-checking every detail.

Among the more common minor issues are text errors, incorrect numbers or currencies, broken links, and translation slip-ups. CRM marketers handle large volumes of data, and in certain projects, they may need to manage multiple currencies or languages, introducing additional complexity that can turn minor errors into significant headaches.

On the contrary, concerning strategic errors, many CRM marketers tend to underestimate the significance of establishing trigger sequences, opting instead for one-time actions to engage users. Personally, I find this somewhat perplexing because, by constructing the complete customer journey through triggers, you eliminate the need to meticulously plan an abundance of campaigns each time you are going on holiday. Everything can function seamlessly without your direct intervention. Regrettably, adopting this approach typically does not yield successful results.

Additionally, it’s important to dispel the misconception that CRM is solely about sending emails. It’s much more than that; it’s a vast knowledge repository that, when applied correctly, can exponentially enhance business growth. CRM represents a unique space, bridging elements of marketing, product development, and customer support, a fact that often goes unnoticed by many.

How do you envision the future of CRM?

We’re witnessing it already — whereas before the pandemic, companies were channeling their investments solely into acquiring new customers, in 2019, there was a notable shift in demand for CRM specialists. This shift occurred because new customers were strapped for funds while retaining existing ones became crucial. As a result, new tools, metrics, and possibilities emerged.

Presently, there’s a prevailing trend in harnessing AI and ML technologies — from crafting text and formulating offers to implementing recommendation systems and curating personalized catalogs. The blend of technology has huge potential to change how CRM works and improve customer interactions.

In addition, I firmly believe that gamification will assume an even more pivotal role in CRM. In our intricate world, there are times when all one wants is to take a spin on the wheel of fortune.

Gamification can make customer engagement a playful and rewarding experience, creating lasting connections. Whether it’s loyalty programs, rewards for engagement, or even just injecting an element of fun into routine processes, gamification has the power to captivate and retain customers like never before. It’s not just about winning; it’s about the excitement, the challenge, and the journey, which can enhance the CRM experience and deepen customer relationships.

Author: Anna Ambrozevich