It is time to measure the profitability of your sales and marketing efforts.
Most companies with an online presence, have tools that allow them to measure the impact of their marketing efforts. Whether it be Google Analytics, Hotjar, Hubspot or other available tools, there are many available solutions which enable marketers to quantify the results of their efforts. Unless the transaction is also done online, the functionality of these market analysis tools usually stops working when closing the sale. Many companies know the number of leads generated by their customer contact points, the frequency of interaction of these leads as well as their origin. The advantage of measuring the activity and performance of your marketing campaign via your CRM is the ability to link each interaction with a prospect and an opportunity. It is then possible to monitor the growth of a prospect and to evaluate the marketing ROI of each campaign in terms of achieved sales.
Measure the number of interactions per Web point of contact
Linking your CRM to your automated marketing and analysis solutions will make it possible to follow your clients throughout the entirety of your web ecosystem. You will know which pages of your website a prospect has visited, which promotional email was opened, and which offers have been clicked, which social publications have been liked, shared and clicked etc. By assigning these shares to an individual, it is possible to predict the probabilities of closing a sale. Your team can also prioritize their approaches according to the evolution of each prospect’s commitment.
Understand the contribution each point of contact brings to the sales process
Connect your campaigns to your CRM for your managers, as it will not only allow them to know the main source of a lead but also to understand the contribution each point of contact brings to the transaction. It is then possible to know which tool is most efficient when generating opportunities, closing a sale or educating the customer. It is also possible to rearrange these tools in a way that will expose your prospects to them at the most favorable time. By using this feature, you will avoid underestimating a tool which contributes to the sales cycle even if it is not entirely the source or the outcome. It will also make it easier to intelligently redistribute resources and budgets.
Know the value of each micro transaction
With the same goal of evaluating the return on investment (ROI) of each sales and marketing interaction, it is possible to define the value of each microtransaction to quantify the overall profitability of the process. A quotation request is worth X, a reference to a colleague Y and a subscription to your newsletter is worth Z. Defining these values, allows you to discover the unspoken value of each customer using the generated microtransactions for each corresponding action that creates value for your company.
Track all campaigns in a single dashboard
Centralizing data in one place is another major benefit. Gathering all the information provided to you by your analytics software, marketing automation and social media management software into a single CRM, gives you the opportunity to view key information from your sales process or a specific prospect. The algorithms of your CRM will be able to take this information into account and qualify your prospects with more exactitude according to their reactions to your marketing campaigns. The entirety of your marketing ecosystem and your sales actions will act on the optimization of your resources, resulting in a gain on your sales performance. To obtain the maximum of benefits from this connectivity, be sure that your CRM allows for an integration with your marketing tools or at least offers tools that allow you to collect their performance information. Dynamics 365 for instance integrates with a variety of platforms including Google Analytics, Click Dimensions, MailChimp and many other popular platforms. Proceed by consulting with one of our experts so they can put this data to use when optimizing of your sales processes. Since our goal is to help you become more familiar with Dynamics 365, our next articles will focus on some of the more complex features of this tool such as marketing workflows and integration with Microsoft Office 365 Suite. To learn more, you can contact one of our experts, so they can make more personalized recommendations on the CRM best suited to your needs.