marketing metrics

Are you Measuring the Effectiveness of your Campaigns?

There has been a huge uptake in customer relationship management (CRM) systems over the last couple of years. All businesses from small to large have been clamouring to select, buy and implement CRM as it is seen as a ‘must-have’. But I wonder, how many businesses have actually measured their return on that investment? How is your CRM system delivering benefit not just in operational process but in additional sales and new customers? Sure your CRM will tell you how many leads have been won, the status of those leads, which salesperson brought in that lead. It will also tell you how many and the potential value of any opportunities arising from that lead. But of course the real crux of the matter is you need to measure/test/refine/repeat the effectiveness of your campaigns.

And there lies the problem, whilst most CRM systems on the market allow you to create a campaign against a list of customers it is the segmentation of your customers that falls down. Why? because even if you do have an integrated CRM and financials system the chances are you cannot create what I would term as dynamic campaigns. I had this very request a few weeks ago from a Sage CRM customer. “We want to be able to create a campaign based around customers who have bought product x”. Can the system do it? No! Can it be made do it? Absolutely. Here are 4 examples, from hundreds of possible, dynamic campaigns you could be using (but probably won’t be);

  • Customers who bought product x
  • Customers who have spent more than (or less than) x pounds, dollars, euros
  • Customers who have bought within the last 180 days but not within the last 90 days
  • Customers who have only bought once from you

So the key is getting at your financials data and using it to create customer segments that are meaningful (and hopefully responsive!) to an offer in the campaign.

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