Customer Relationship Management is technology used to manage interactions with current and potential customers by improving processes to make the process of purchasing the product or service more streamlined. This in turn increases sales and profitability for the business.

So, let’s dive into the future of customer relationship management using a Formula 1 as a case study.

Customer experience

The importance of a single voice across all internal channels of communication cannot be overstated. Having one brand message and a unified voice helps customers know where to direct queries and leaves a lot less up for debate in terms of what customers can expect.

Look further than what the customer places in their basket. Capture as much first party data as possible through the transaction but then think, what does this say about their interests, can you suggest other relevant purchases, direct to other website pages, or give an exclusive offer?

Be thoughtful, deliver what you say you will to create trust. This will improve customer loyalty and increase the number of purchases that are made to your business.

F1 Wake Up: Call - Customer-centric data, the F1 way

What: US fans were given the opportunity to receive a wake-up call from their favourite driver if they struggle to wake up for the European races on the F1 calendar - sometimes this was at 3 or 4AM so not mean feat.

How: Fans engaged with a dedicated data capture form and then received a pre-recorded phone call from their chosen Formula 1 driver.

Results:

  • A more engaged existing customer base
  • Increased number of customers that give permission to be contacted
  • Customer-first data telling F1 marketing team all their details including where in the US they are based AND who their favourite driver is
  • Great brand engagement
  • Endless UGC - Fans used the wake-up call as their ringtone, spreading awareness to close circles who also may share an interest in the brand

From data to sales

Brands often have large volumes of information about their customer base without knowing exactly how to translate this into sales. Boots, for example, sits on a lot of intimate information about their customers; health concerns and retail habits, but how do you get this to translate to revenue? 

  • Pull all the data together until you get an idea of the customer’s life.
  • Know how frequently they purchase something.
  • Are they likely to try something new or stick to old habits?
  • Do they travel around the country, or do they only use one shop?

Then, personalise everything that you send. Emails addressed using first names should be commonplace, this is no longer ground-breaking in terms of CRM so make sure that is nailed!

What are the benefits of enhanced profiling?

Data exchange is crucial. Many customers will want to be assured that they are getting a good return for the information that they are providing companies with. That means delivering what you promise and going above and beyond when possible.

 So, what does that actually look like? How can we use customer data to give back value? How can we be most transparent about what data we have and how we use it?

  1. Comply with data collection policy, privacy policies, and GDPR
  2. Use data responsibly and only for what you say you will
  3. Make the customer’s experience as personal as possible based on information given
  4. Gather feedback to track your progress and identify pain points
  5. Be willing to learn
  6. Remember that your customers are people too, it is as much about engaging with them as individuals as it is engaging with them as potential buyers

Enhanced profiling; the F1 way‍

In April 2022, Formula 1 announced an ‘innovative 5-year partnership’ with Salesforce and Ogilvy that aims to boost fan engagement and sustainability.

Salesforce is a leading CRM that offers new F1 graphics, trackside exclusive content, Grand Prix updates and so much more. By placing the fans at the heart of a long-term plan, Formula 1 is offering higher value to its fan-base as well as rewarding customer loyalty. 

This partnership is one that will benefit Formula 1 and customers alike, demonstrating the mutually beneficial outcomes of investing in Customer Relationship Management.

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Nathan Hoare

Digital expert with extensive global marketing experience