Complete Help Desk Software for your business
Live Chat Software for Live Help and Live Support
Realize the potential of your business!
Browse KB
Knowledge Base
 
Using CRM to Improve Your Marketing ROI
 

"Marketing ROI" is a trendy catch-phrase these days, but what does it really mean? While many top managers we speak to think their marketing programs are generating positive results, in reality, most of them don't really know.

Since Marketing's top priority is to generate qualified leads for Sales, management's focus should be on measuring the quantity and quality of leads which Marketing is driving into the sales pipeline, and which Sales is converting into revenue. The best place to capture and analyze this information is in your CRM (customer relationship management) system.

Yet getting this information from most CRMs is difficult, because sales orders typically bypass the CRM altogether and are entered into a separate Order Entry system. Too often, it is difficult to track sales orders back to the marketing program that originally generated the sales lead.

If you are serious about tracking the return on investment from your marketing efforts, here are some simple but critical steps you should follow to capture the right data, at the right time in the sales process:

Make sure your sales people are accurately tracking each actual sale in your CRM system, by converting opportunities into closed orders, with accurate order values. In addition to normal CRM entries, make sure your CRM has standard fields to capture the following data:

Lead Source

Campaign

Market Segment

Sales Region

Win/Loss

Reason for Win/Loss

Competitor

Train and require all marketing and sales personnel to fill in each of these fields in the CRM consistently, as leads are generated throughout the sales process. Many companies program rules into their CRM workflow which makes these fields required. Take steps to collect, analyze and measure the results of each campaign, as soon as the campaign has been completed. This will allow you to capture the information while it is still fresh, and instill discipline and accountability in your organization to regularly report results. Proactively track and compile statistics for management which highlight Marketing's contribution to Sales' success. At a minimum, management should be receiving quarterly reports with the following marketing data, sorted by campaign, lead source and sales region:

Total leads generated

Leads passed to Sales

Orders from leads (number, dollar value)

Close ratio

Total campaign investment

Sales divided by campaign investment (ROI)

By creating and following these simple processes, you can be among the few companies out there that are actually measuring their Marketing ROI efficiently. The benefits from such discipline are numerous, including:

Continuous campaign improvement

Better marketing budget justification

Improved recognition of Marketing's role in driving sales growth

Better collaboration between Marketing & Sales

Increased revenue and profit!

Todd Mintz is the Director of Internet Marketing & Information Systems for S.R. Clarke Inc., a Real Estate Development and Residential / Commercial Construction Executive Search / Recruiting Firm headquartered in Fairfax, VA with offices nationwide. He is also a Director & Founding Member of SEMpdx: Portland, Oregon's Search Engine Marketing Association.

Article Source: http://EzineArticles.com/?expert=Andrew_Rowe

How would you rate the usefulness of this content?
1 2 3 4 5
Poor Outstanding
Content rating:
1 2 3 4 5
 5 people have rated this content.

Discussions (No Messages)

You currently have browse capabilities. Please login to participate in the discussion.  


Comments
Please login to post a comment.
Top




Print this page
Shortcuts Menu
Back to ZaZaChat
Start using ZaZaChat

ZaZaChat Contacts
Toll Free: 877-570-2328
Email: Contact Form
Live Help: Chat Live

Add to Favorites