Tag Archives: Ditch
Ditch the Integration Between Dynamics 365 and 3rd Party Marketing Applications
Digital marketers and salespeople understand the importance of having a database with correct and up-to-date information. Sending an email to an invalid inbox or calling a phone that is no longer associated with a prospect can waste valuable time and even hurt your domain sender score in the case of sending to inactive emails.
Traditionally, CRM and marketing applications have stayed separate making it difficult to manage data effectively between systems and teams. Sure, integrations can be built to allow sales and marketing systems to speak to one another, but these integrations are often patched together and sync limited amounts of information. By utilizing and together, all data is stored in the same database meaning no integration is necessary.
Unified Contact Data
The contact entity in Dynamics 365 is accessible and editable from both Dynamics 365 Marketing and Dynamics 365 Sales. This means if a salesperson updates a contact’s address in Dynamics 365 Sales, that address change can be seen from the contact record in Dynamics 365 Marketing. Shared data between Sales and Marketing is especially helpful for marketers that need to maintain marketing lists. Typically, marketers will need to export contact lists from their CRM system into whichever marketing application they are using to send emails or other campaigns.
The issue with this process is that unsubscribes, bounces, opens, link clicks, and other analytical data never sync back to their associated contact records in CRM. Having a system that can conduct all digital marketing campaigns while also maintaining contact data for sales and marketing is a game changer.
In Dynamics 365, the contact record stores all consent information related to marketing activities conducted from Dynamics 365 Marketing. When a contact unsubscribes via the subscription center page, the “Email: Do Not Allow” field on the contact record is updated to reflect that they no longer want to receive emails.
Tracking Marketing Insights
Marketing analytics should be used by both marketing and sales teams, but frequently that data is unavailable to salespeople in CRM. Dynamics 365 stores marketing analytics within the Dynamics 365 Marketing app, but also showcases marketing data related to individual contacts right on the contact record. The contact Insights tab of the contact record includes tables for email interactions, website interactions, event interactions, form interactions, and even email open times. Below is an example of the high-level insights breakdown chart included for each contact.
This data is useful to salespeople who need to see how engaged their prospects are with the company. If a salesperson sees that a prospect they have been speaking with opens every email campaign and visits the website once a week, they know that the prospect may be in a good place to convert to a sale. A sales team can also easily implement a lead scoring model in Dynamics 365 Marketing that tracks contact engagement with marketing efforts and assigns scores based on interactions. Learn more about creating lead scoring models in Dynamics 365 Marketing here. For marketers, tracking contact preferences like unsubscribes means they no longer need to tediously check their marketing list before each email send.
Get started with Dynamics 365 Marketing
Not sure where to start with Dynamics 365 Marketing? Our team can work with you to develop a step-by-step implementation plan to get started quickly, but not overwhelm your team. If you have contact data stored in a 3rd party system that you would like to sync with Dynamics 365 contacts, we can build an integration to sync that data and ensure it is clean moving forward.
Angry Customers Likely to Ditch Wells Fargo's Wagon
Wells Fargo Bank will lose customers in droves because of the scandal over fraudulently opened accounts and other issues, based on the results of an online survey cg42 conducted last week.
More than 85 percent of the respondents — 1,500 primary customers of the top 10 U.S. retail banks, including 1,000 Wells Fargo customers — were aware of the scandal.
Only 3 percent of Wells Fargo’s customers reported being affected by the scandal, but 30 percent were exploring banking alternatives, and 14 percent already had decided to switch banks because of it, the survey found.
That could place US$ 212 billion in deposits and $ 8 billion of Wells Fargo revenue at risk.
However, “a large part of [Wells Fargo’s] multiple accounts strategy was to make switching costs higher,” noted Edmund Mierzwinski, consumer program director at the U.S. Public Interest Research Group.
“I’d speculate the cg42 poll probably overstates switching by 25 to 50 percent,” he told CRM Buyer.
Thirty-six percent of the respondents were 22-34 years old, 28 percent were 36-40, 25 percent were 50-64, and 11 percent were over 65 years old.
Women constituted 52 percent of the respondents.
Wells Fargo will “lose $ 99 billion in deposits and $ 4 billion in revenues over the next 12-18 months as a direct result of the scandal,” the cg42 report states.
The Pain Will Linger
Community and regional banks stand to gain the most, gleaning a projected $ 38 billion in deposits and $ 1.6 billion in revenues over the next 12-18 months, cg42 predicted.
Chase and Bank of America also will benefit, largely due to their national presence.
Twenty-one percent of prospective Wells Fargo customers said they had been very likely or extremely likely to consider doing business with the bank before the scandal, but that figure fell to 3 percent in its aftermath.
The short- and medium-term outlooks for Wells Fargo are gloomy, cg42 said, and the fallout from the scandal “will impact the bank’s bottom line for years to come.”
There’s a very strong correlation between customers’ experience with companies and their loyalty to the firms, a Temkin Group survey of 10,000 U.S. consumers found.
Still, all is not lost.
“In our 2015 Temkin Forgiveness Ratings, we found that 41 percent of Wells Fargo customers are likely to forgive the company if it makes mistakes, and less than one-third as many are unlikely to forgive them,” noted Bruce Temkin, customer experience transformist at the Temkin Group.
The scandal “won’t have an enormous continuing impact if the company takes quick and decisive action and there aren’t any new stories about this behavior continuing,” he told CRM Buyer.
Making Amends
Wells Fargo has initiated an advertising campaign pledging to regain customer trust. It has fired thousands of low-level employees involved in the scandal, and CEO John Stumpf has stepped down.
That’s not enough, U.S. PIRG’s Mierzwinski contended. “They need to claw back more money from Stumpf and other executives, and they need to rebuild the trust of their customers with actions, not ads.”
The bank should consider his company’s C.A.R.E.S. model, suggested Temkin, which consists of the following steps:
- ensure communication is open and honest;
- take accountability for the problem and actions to fix it;
- make sure you are responsive;
- have empathy for affected customers; and
- provide a solution that corrects the current issue and ensures it won’t recur.
Advice for Switchers
It’s important that consumers switching to a new bank keep their existing accounts open during the transition, Mierzwinski said.
They should make sure all autopays and direct deposits are activated in their new account, keeping the old one open for several billing cycles.
Also, they should “keep enough money in the old account to cover any inadvertent autopays and lost checks that may come in,” Mierzwinski cautioned.
Consumers should go to “a smaller bank or credit union that wants to help them build assets,” he said, “not bleed them.” 
Richard Adhikari has written about high-tech for leading industry publications since the 1990s and wonders where it’s all leading to. Will implanted RFID chips in humans be the Mark of the Beast? Will nanotech solve our coming food crisis? Does Sturgeon’s Law still hold true? You can connect with Richard on Google+.