CRM Hack: Testing and Evaluating CRM Strategy and Contribution
Watch: How to test the tactics and strategy of your campaigns to understand CRM contribution
A challenge many companies face is understanding the CRM contribution in their marketing efforts. In other words, figuring out just how much their CRM is really worth.
As a CRM marketer, you want to make sure that you have effective communications with your customers that are both smart and thoughtful.
That you’re sending them the right message at the right time. And that you influence customers based on your main strategic objectives.
By reviewing the strategy and journey of your CRM campaigns, you’ll be able to calculate the marketing ROI and make sure that you’re gaining more than what you’re spending.
Here’s a quick video to get you going in the right direction.
From the video:
Testing the Tactics – The Method
Optimove treats every campaign as an experiment. And a campaign is defined as the combination of the audience, content/offer, and timing.
To be an actual experiment, you need to exclude some of the campaign’s customers to serve as the control group.
After running control groups in your campaign, you must analyze how many customers from each group (test and control) responded best based on the KPI you want to measure.
Testing the Strategy – The Background
When talking about a strategy, Optimove usually refers to the journey – or sequence of campaigns put together to implement a CRM strategy. Which are typically split by lifecycle stages.
If you want to test a campaign and understand its performance as a whole, you need to further exclude a portion of the customers to serve as a Super Control Group. These customers will not receive any of the campaigns that are included in the journey.
This will allow you to measure the strategy’s performance by looking closely at monthly retention rates, the different measures, and other KPIs.
This is just a small taste of how Optimove helps companies understand and measure the value their CRM efforts bring to the organization.
To find out how your brand can test and evaluate your CRM strategy and its contribution to your business, contact our Strategic Services team.
Don’t miss out on our previous CRM hacks from Optimove experts:
- Gamifying CRM Campaigns
- Measuring the Right KPIs
- Repurposing Content
- Marketing Campaign Optimization
- Lifecycle Based Campaigns