The document discusses different metrics that could be reported on depending on whether an organization has its own database or a borrowed/purchased database. Key metrics include delivery rates, open rates, click rates, time spent on landing pages, form completion rates, customer actions, lifetime value, and acquisition costs. Additional metrics of interest to sales include close rates, retention rates, churn rates, and average deal sizes. The document also discusses how leads could be evaluated and what metrics might be missing to fully evaluate a newsletter campaign's conversion.
The document discusses different metrics that could be reported on depending on whether an organization has its own database or a borrowed/purchased database. Key metrics include delivery rates, open rates, click rates, time spent on landing pages, form completion rates, customer actions, lifetime value, and acquisition costs. Additional metrics of interest to sales include close rates, retention rates, churn rates, and average deal sizes. The document also discusses how leads could be evaluated and what metrics might be missing to fully evaluate a newsletter campaign's conversion.
The document discusses different metrics that could be reported on depending on whether an organization has its own database or a borrowed/purchased database. Key metrics include delivery rates, open rates, click rates, time spent on landing pages, form completion rates, customer actions, lifetime value, and acquisition costs. Additional metrics of interest to sales include close rates, retention rates, churn rates, and average deal sizes. The document also discusses how leads could be evaluated and what metrics might be missing to fully evaluate a newsletter campaign's conversion.
Delivery rate – This could pinpoint if our current database has
any incorrect/corrupted email addresses
Usually the same as metrics as the Open rate – How many people opened the email ones used from own database plus a Click rate – No. of people that got to see the landing page few extra such as: Time spent on landing page – for both the customers that have proceeded towards the form and for the ones that did not Cost per opened email – assuming we For incomplete forms, the percentage of the form completed – This is valuable as it might offer us insight regarding the form. have purchased a database of 1.000 Ex: The customers don’t feed comfortable sharing their names(leads) for 1000$, having 10 income and they stop at that step. We can observe that from the data, and find new ways to ask clicks on the landing page would for income in a more invasive way mean that we’ve spent 100$/click What further actions were taken by the possible customer – assuming the customer accepted the cookies and further check We could further use the data to if the call to action functioned for the prospect check if, in the future this could be Customer Lifetime Value – How much will the customer invest in our products over their entire relationship with our used as a valid way of advertising company Cost per impression Customer Acquisition Cost – How much would it cost to ‘convince’ the customer to buy our products – this is Cost per form completed especially true for automotive industry as the profit margins are lower than in other industries – smart spending MAIN METRICS THAT THE SALES DEPARTMENT WOULD BE INTERESTED IN SEEING IN A CRM LEADS REPORT Close rate – this is the cornerstone of every leads report. It gives a glimpse into the potential of the leads generated Customer retention rate – Obviously, it is less costly to keep a customer than to acquire new ones. This metric is highly important for the industry due to the low profit margins – every penny counts Churn rate – Measures why customers are no longer buying from us. Customer churn is inevitable for any business and it might offer us insight about what we could do better, with this information maybe we can fix some of the customer’s dissatisfactions and try to sell again to those customers Average deal size – What type of product can we offer to the customer? Could we convince them to buy one of our higher- end(and more expensive) products? AFTER THE LEAD IS CREATED – FOR CUSTOMERS THAT HAVE COMPLETED THE FORM In order for the CCC to prequalify a lead they need to have a few things in mind such as: Is there a need? – After the form was completed by the potential customer, we could extract the data that answers this question – As an example: We had question 1 asking “Do you own a car?” or “Do you plan on purchasing a car?” We could extract data in which the answer to that question was “Yes” Can we provide value for the potential customer? – Is the potential customer interested in purchasing a Mercedes? – or do they prefer other types of cars? – Dailmer owns Maybach as well, maybe we can send the lead to Maybach Is there room in the prospect’s budget? – Does the person afford a Mercedes right now? What influence does the prospect have? – This is especially true in B2B – Is the prospect right for us? Or do we need to target other audiences with higher influence and decision making rights Is this the right time? – Is a deadline? Can we meet the deadline? Is it too far in the future? Or is it too short of notice for us? HOW I WOULD EVALUATE THE PERFORMANCE OF THE CRM CAMPAIGN While I wasn’t able to find any data relating to the Automotive industry email read rates, I was able to notice that the average of email read rates is about 21-22%. Considering our campaign managed to get an average email read rate of 43.8% is a great indication of the great success of the CRM Campaign. Further looking at the email average click-through rate is 2.69% (again I wasn’t able to find any relevant data about the industry). While our CRM campaign had 15.85%, I’d also say we’ve had an amazing success Unfortunately, the final metric about how many prospects actually renewed their DoC with Mercedes-Benz Slovakia is missing. But if I were to estimate I’d say we did at least 3 times over the industry average But given previous data and correlating between the industry average and our CRM Campaign I’d call it a great success! THE METRICS THAT ARE MISSING IN ORDER TO SUCCESSFULLY CALCULATE THE CONVERSION OF THE NEWSLETTER CAMPAIGN
The number of people that actually signed the OneDoC
Extra: I would also check where most respondents got stuck
Average time spent on OneDoC
Not sure how much of the user’s activity we track, but if
done properly, we can identify how far the average respondent read and try to change the part that we think is not working and split-test the findings with other CRM Campaigns