You can’t make decisions about your digital marketing efforts without data, but it can be tricky knowing which metrics to focus on. A strong CRM helps to put all the pieces together.
Figuring out your return on investment (ROI)
The biggest flaw that businesses face is understanding the return on investment (ROI) of their digital marketing. Some of the challenges include:
- Too much focus on vanity metrics (E.g. Focussing on metrics that don’t matter as much such as impressions and clicks)
- Not having their tracking set up correctly (Tracking events such as “visitor hits to a page” as a converted lead)
- No understanding their actual goals (what do you actually want from your digital marketing? More sales? More leads? More brand awareness?)
- Not being able to track the full journey of a lead from enquiry through to sale
- Not having the right technology or partners to implement your reporting
A CRM fulfills a large part of the reporting puzzle. Google analytics can help you track your ROI on anonymous leads such as visitor sessions, most popular pages and conversions. However a CRM will take this reporting further as it tracks the activity of every “known” lead.
A CRM is able to report on:
- The exact source of a known lead (E.g. “John Smith” lead came from Google Ad XYZ)
- The exact source of a known sale (E.g. “Mary Jacobs” came from Facebook Ad 123)
- Track the full journey of a lead from enquiry to sale including their activities in between (understanding the activities that resulted in the sale)
- Actual sales $ resulting from digital marketing activities. Because you can track sales in your CRM, you can accurately see the ROI of your digital marketing.
Together with Google analytics (anonymous tracking), a CRM completes the full reporting picture by tracking known leads.