Filed under: A/B Testing, CRM, Data, Datarati, Email Marketing, Forms, Lead Generation, Lead Nurturing, Lead Scoring, Marketing Automation, Optimisation, Segmentation, Technology, Testing, Web Analytics | Tags: Cloud Computing, CRM, CRM database, Customer relationship management database, Marketing Automation, Marketing Automation Database, SaaS, Salesforce.com, Software as a Service
An open letter to all Australian & New Zealand marketers:
After many years selling both Marketing Automation databases and CRM databases, services and solutions in the Australian / New Zealand marketplace, I have decided to clearly explain the difference between a Marketing Automation database and a Customer Relationship Managment or CRM database.
It seems that there is still some confusion in the local market as to how these two databases differ, how they work together and the value of integrating these two databases together.
The objective of this post is to simplify the jargon, clearly explain the key differences and empower you as a marketer to make smart data-driven decisions.
What is a Customer Relationship Management (CRM) Database:
Simply, this is a database designed to allow an organisation to do three core things:
1.) Sales teams to input, manage and track their leads that are generated by their marketing team
2.) Customer service teams to input, manage and track customer service and support quieries
3.) Marketing teams to segment customer/sales data e.g. which customers bought an iPhone in the last 6 months.
Examples of CRM databases which are stored (on-premise) i.e. database physically stored inside an organisation on their own servers are: Siebel, Oracle, Microsoft etc.
Example of a CRM database which is stored (off-premise) i.e. database physically stored outside an organisation on the vendors servers is: Salesforce http://www.salesforce.com
In today’s enviorment, most organisations across Australia & New Zealand and globally have or are in the process of moving to (off-premise) CRM databases like Salesforce.com for the costs savings and ease of use.
To access the database all a user needs is a username, password and a web-browser, as the data from the database is delivered within a users web-browser.
These types of CRM databases are referred to as any of the following: Software as a Service, SaaS, On-Demand, Cloud-based and Cloud Computing.
Ok, so as a marketer if you have a CRM database in your organisation, FANTASTIC!
It’s a start, but it only allows you to segment customer/sales data.
Today’s marketers are using multi-channels for both inbound and outbound marketing.
These channels include:
– Email (Inbound, Outbound)
– SMS (Inbound, Outbound)
– Paid Search (Inbound e.g. Google Adwords)
– Paid Display (Inbound e.g. Banner Ads)
– Landing Pages (Inbound e.g. Email, Google Adwords, Banner Ads)
– Telemarketing (Inbound, Outbound)
– Social Media (Inbound, Outbound e.g. Twitter, Facebook, Widgits)
So does your CRM database allow you to set-up, build, manage, track and optimise all of the data that is generated from the above channels?
The answer is NO! Regardless of which CRM database you are using, it does not allow you to do this, nor were they designed to.
Now, the problem that you as a marketer face is simple. When you look to execute any inbound or outbound campaigns, your data is siloed, often stored in multiple databases in multiple locations, often managed by multiple rostered agencies and/or vendors – leaving you as a marketer with little to no visibility of four of the most important things within marketing:
1.) A 360 degree view of how marketing have touched the customer or prospect i.e. which campaigns were they sent
2.) The behaviour of the customer or prospect i.e. how did they or didn’t they respond to those campaigns (conversions)
3.) What variables performed better within those campaigns i.e. creative, call to action etc
4.) Where the customer or prospect is within the customer lifecycle or buying lifecycle
Q. So how does a marketer solve this problem?
A. A Marketing Automation Database
The objective of implementing a marketing automation database is to get all the information marketing needs to acquire leads in one place. Marketers implement a marketing automation database to see all of marketing’s interactions with each prospect and customer. They also use it to keep data clean by automating the de-duplication of records within the database.
A marketing automation database is a SEPERATE database, designed to allow an organisation to do 7 core things:
1.) Lead Generation
– Objective: Make sales happy with more qualified leads.
– How: Convert website traffic into leads, automate lead development, identify when prospects are ‘sales ready’, automate sales tasks and track follow up.
2.) Lead Nurturing
– Objective: Drive revenue by nurturing raw inquiries into ‘sales ready’ leads.
– How: Nurture relationships with qualified prospects, educate leads before passing them to sales, trigger relevant responses to prospect behaviours and automate repetitive marketing tasks.
3.) Lead Scoring
– Objective: Improve sales effectiveness by passing only qualified leads to sales.
– How: Automate lead qualification processes, measure prospect interest and engagement, score leads using demographic data and behavioural data and focus sales resources on the best opportunities.
4.) Website Tracking
– Objective: Know exactly who is visiting your website and where they go.
– How: Track all prospect interactions online, identify which companies are visiting your website, monitor known and anonymous visitors and automatically alert sales reps of new prospect activity on the website
5.) Email Marketing
– Objective: Don’t just email prospects, engage them in a dialogue.
– How: Deepen realationships with triggered, multi-step campaigns, get to the inbox using the latest deliverability technology, raise and open click rates by targeting segments and track and score who opens and clicks on each email.
6.) Landing Page Optimisation
– Objective: Create, publish and test targeted landing pages.
– How: Launch new landing pages in minutes, use your own branding and subdomain, maximise conversion rates through A/B testing and capture leads with smart forms that recognise know customers and prospects.
7.) Marketing Asset Management
– Objective: Store, distribute and track content and other marketing assets.
– How: Upload and manage documents and image files, publish customised URLs for each asset, track which piece gets viewed by prospects and notify sales reps whenever key marketing assets are viewed by a customer or prospect.
Now, to get the true value out of all of the above – organisations should integrate their CRM database (which holds sales data) with their Marketing Automation database (which holds marketing data).
Why? Three simple reasons.
1.) Instead of manually exporting ‘sales ready’ leads from a marketing automation database in excel and then having your sales team manually upload the list into their CRM database, this integration automates the transfer of the marketing data from the marketing automation database into the CRM database.
2.) Sales teams are now empowered as they now have all the marketing history of how a prospect or customer has been communicated to by marketing, how they have or havn’t responded and most importantly the prospect or customers behaviour. So what that means is that the sales or telemarketing team have all of this rich actionable insight about what they prospect or customer is interested in before they make an outbound call.
3.) Closed Loop Return on Investment (ROI) reporting – by integrating your marketing automation database (marketing data) with your CRM database (sales data), you can now attribute which campaign(s) drove not only conversions but repeat purchases.
Marketing Automation databases are referred to as any of the following: Software as a Service, SaaS, On-Demand, Cloud-based and Cloud Computing. To access the database all a user needs is a username, password and a web-browser, as the data from the database is delivered within a users web-browser.
Hope this post helps to explain to all marketers across Australia & New Zealand the difference between a Marketing Automation database and a CRM database, and the power of integrating the two for full closed loop ROI analysis.
Filed under: Marketing Automation | Tags: Marketing Automation, Software as a Service
A great post I wanted to share with you from our friends over at Raab Associates.
Summary: Consumer-oriented marketing automation systems have been slower to adopt the Software-as-a-Service model than business marketing (demand generation) systems. But this will soon change, bringing lower prices and better systems as a result.
Software-as-a-Service (SaaS) is now the standard model for business-to-business marketing automation (a.k.a. demand generation) systems.
Filed under: CRM, Marketing Automation | Tags: Cloud Computing, Marketing Data, Software as a Service
I was speaking with someone during the week about hosting their marketing and campaign data ‘in the cloud’ and they looked at me funny.
Here is a simple, clear, concise explaination: http://www.youtube.com/watch?v=ae_DKNwK_ms
Filed under: Analytics, CRM, Data, Datarati, Marketing Automation | Tags: CRM, Datarati, Marketing Analytics, Marketing Automation, Marketing Optimisation, Software as a Service, Will Scully-Power
“A new era is dawning for what you might call the Datarati— and it’s all about harnessing supply and demand. What’s ubiquitous and cheap? Data. And what is scarce? The analytic ability to utilise that data.”
– Hal Varian – Chief Economist – Google (Wired Magazine, May 2009)
I’ve recently left M&C Saatchi/Mark to launch Datarati Pty Ltd.
We provide digital advertising agencies, media agencies and their clients with actionable data driven insights which improve campaign performance and ROI.
Datarati provides a host of Software as a Service (SaaS) solutions which change the way marketing and sales and their digital agencies collaborate at every stage of a revenue cycle, through the execution of data driven trigger-based acquisition and retention campaigns.
We help marketing and sales teams and their digital agencies with demand generation and lead and contact scoring, nurturing and management in the pursuit of revenue and customer loyalty.
Through this, we shorten revenue cycles, demonstrate marketing ROI and ignite revenue growth across our client’s organisations.
We provide 4 key support services:
– Multi-Channel Campaign Reporting & Analytics
– Multi-Channel Campaign Optimisation
– Marketing Automation & CRM strategy and implementation
– Data Management, Data Hosting, Data Mining, Data Modelling
Welcome to the new era. Welcome to the Datarati.
PO Box R1314
R1314, Royal Exchange