How to Get a Continuous Return on Marketing Investment with CRM
The marketplace is crowded and every business is competing for attention. Getting noticed is challenging with so many marketing messages being released across multiple channels. How do you know whether your marketing messages are effective or being ignored? Don’t waste time or money on marketing campaigns that aren’t generating leads or sales. Deploy a customer relationship management (CRM) solution to measure and monitor efforts and get a continuous return on your marketing investment.
Are You Sure Your Marketing Campaigns Are Successful?
Many businesses rely on multi-channel marketing campaigns and there is no shortage of platforms in this digital age. In addition to traditional print and email efforts, there are a variety of other digital and social options. While many businesses would want to cover all the bases, this isn’t always a good use of time and resources. In addition, you may see better results by focusing on certain platforms, targeting demographics or engaging prospects or customers in different ways.
To create effective marketing campaigns, you need to know what works just as much as what doesn’t. Understanding potential marketing successes and failures requires more than anecdotal examples or gut feelings. You need to be able to hang your hat on specific, accurate data. Deploy CRM to capture, analyze and monitor marketing efforts and the resulting leads and sales.
Gain Valuable Insight, Strengthen Marketing Efforts with CRM
Casting a wide net and trying to take advantage of every potential marketing platform is not only expensive, but puts your marketing and sales team at a disadvantage. While you may find many potential leads, not all are worth following. Your sales team will then be distracted by weak leads and could miss better opportunities or be unable to nurture existing customer relationships. CRM delivers data, streamlines the lead and sales cycle, and delivers the insight needed to build a strong return on your marketing investment. Here’s how:
- Capture, analyze and use data: CRM integrates with existing enterprise resource planning (ERP) solutions. Leaders can capture and access key performance indicators (KPIs) about inventory movement, product trends and customer buying behaviors. CRM focuses on the data pertaining to marketing campaigns. With CRM and ERP, your marketing and sales leaders will be able to enter, access and analyze current, reliable data. If it can be measured, it can be monitored and improved. Armed with data, not gut feelings, you’ll be able to determine which marketing platforms deliver the strongest return.
- Quantify leads, follow sales: Not all leads are worth following and CRM will help you separate the cold leads from the hot ones. Built-in workflows also streamline how leads are handled. As a lead comes in, details are captured, then the lead is forwarded it to an appropriate sales representative. Automated workflows save valuable time and reduce the chance that a lead is lost or forgotten. Then, as follow-up takes place, you will uncover more information that can be used to identify which leads to focus on and which to let go. Similarly, automated workflows streamline the entire sales cycle from lead to order to post-sale delivery. Each customer receives the same level of attention, which goes a long way toward improving customer satisfaction and nurturing long-term relationships.
- Turn data into actionable insight: The rubber meets the road with powerful business intelligence (BI) features within CRM. Role-tailored interfaces, data visualizations and robust reporting tools deliver the data and insight needed to track key metrics in real-time. You can monitor marketing campaigns, leads and sales data and identify trends with greater accuracy and reliability. This offers several benefits, but most importantly, your ability to determine which marketing campaigns elicit the best response from your customers. You can release an email or social campaign, for example, and track how new prospects or existing customers respond to these efforts. You will find that customers have preferences such as how they use social media, for example, or which promotions they respond to. As you evaluate these interactions and compare different marketing efforts, you’ll identify trends and uncover ways to further fine-tune campaigns in a way that delivers stronger results.
Use CRM for Marketing Success
Successful marketing takes more science than luck, and CRM puts the power of data in your hands. Businesses that use CRM will be able to:
- Identify customer preferences and understand buying behaviors
- Streamline lead-handling and the sales cycle efficiently and effectively
- Use data to more effective and targeted marketing campaigns
Contact us for more information about CRM and how we can help you build a stronger return on your marketing investment.