Date post: | 13-May-2015 |
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CRMCustomer Rela.onship Management
Jon Barlow
Agenda:• What is CRM?• Where to Start• Social CRM• Ques8ons
“The purpose of a business is to create and keep a customer.”
Peter DruckerThe Prac8ce of Management 1954
What is CRM?
A combination of push and pull marketingIt’s an open dialogue with your customer Process to build a relationship with the customer
Two way communicationDirect and personal across every tacticFocuses on what your customer wantsTrust is developed because you are being more genuine in your messaging
What is a Relationship?
The process destroy the sales and marketing silos.
+ 32%REVENUE
Where to Start?
Client View
Who Are Your Customers?
ModernKid
Friendly?Too Expensive!
Stylish but
comfy?
Ask Good Ques.ons
• What do we want to know about the customer?
• What behavior do we want to drive?• What challenges or obstacles stand in the
way?
Look at the Data
• Segmenta8on by:• Demographics• Psychographics• Geography• Organiza8onal Data
Develop and Apply
Use the insights to drive message strategy, find the right customers, and influence their behavior.
Personalize the informa<on to all the right people.
Spend the most energy on the most profitable customers.
What do we measure?
Measure, Optimize and Refine
• Campaign ROI• Channel ROI• Cost per Lead (CPL) or • Cost per Qualified Lead• Sales per Lead
ROI Formula (%)
$200k in contracts - ($60k overhead + $50k campaign costs)
$50k campaign costs= 180%
Marke.ng Costs
AJributed Revenue
Cost of Goods Sold
Marke.ng Costs
Cost per (Qualified) Lead Formula
CPQLMarke.ng Campaign
Cost
# Qualified Leads
$50,000 trade show / 350 qualified leads = $143 per qualified lead
Prospects)(Responders))
Marke2ng)Qualified)Lead))
Sales)Accepted)Lead)
Sales)Qualified)Lead)
Closed))Deals)
2%)
Industry)Conversion))Rate)Averages)
B2B Industry Benchmark for Lead Conversions *"Based"on"industry"averages/benchmark"developed"by"Netprospex"
Average'Deal'Size'
2013'Marke3ng'Generated'Revenue'Goal'
Suspects)
4%)
67%)
47%)
31%)
x))$$$$$))
$$$$$$$)
Goal: Find pregnant women in their second trimester.
Get them to consider Target for baby needs.
Analyze shopping cart data for purchase trends
Create a “pregnancy score”
Findings:
http://www.nytimes.com/2012/02/19/magazine/shopping-habits.html?pagewanted=1&_r=2&hp&
unscented body lo8onvitamin supplementscoUon balls hand sani8zer
Social CRM
A new process?
Not Really...
A disastrous YouTube video posted in 2009 showed two Domino’s employees mishandling a pizza went viral.
Company launched a massive campaign to analyze public opinion across all social media.
Domino’s made company-wide changes including:Altering their pizza recipeReaching out to customers on social mediaAcknowledging mistakes and promising a better product
Domino’s saw a 14% increase in sales the quarter immediately following the campaign.
Ques8ons?
TwiUer: @jon_barlow
LinkedIn: www.linkedin.com/in/jbarlow