Having to determine and decide on the cost of customer acquisition is a constant dilemma for most enterprises.
Should I go for an all-the-chips-in Adsense campaigns or can I carefully build-on content marketing to realize long-term returns?
Under the given value and pricing, the customer acquisition cost could be playing a large part in determining the overall organizational profits. It also determines the overall value transferred to the prospect.
Marketing CRM Software enables you to combine and optimize different activities which account towards the final customer acquisition costs. It also enables you to increase the overall efficiency of lead acquisition, delivering better returns at lower costs.
Customer Acquisition Cost and its CRM impact
In most cases, enterprises unintentionally complicate the customer acquisition costs. Or, oversimplify only to get wrong results.
Cost of customer acquisition = Total marketing campaign costs / Total customers acquired.
In larger aspect, this calculation doesn’t incorporate the various marketing trends or its associated variations. In-turn this leaves a large gap in calculating your marketing returns. In the end, you end-up with calculations that aren’t factually correct.
By having Marketing CRM, you can align and oversee different ongoing operations and transactions through a single platform. It enables you to keep track of all transactions and value exchanges.
By integrating a CRM platform, you can also address the major cost affecting factors – value transfer, customer targeting, lead management, opportunity forecasting, client attribution, etc.
By aligning different parts of your marketing activity, you can independently optimize each of these parts. It helps you acquire a better ROI, resulting in higher returns from every part of the process.
This also provides a comprehensive way of managing customer exchanges and helps to increase customer value.
Picking-out Low Cost Lead Acquisition Channels
You can easily increase the customer response by increasing the total number of leads that are getting processed. For this, you need to first determine the right marketing channels. For example, a marketing enterprise should first choose the right marketing channels. This rule also applies to choosing the right campaign goals and objectives.
Marketing CRM enables you to keep track of constantly fluctuating campaign performances and metrics. This enables you to derive the right marketing outputs. This also involves choosing the right focus keywords and eliminating poor-performing keywords.
Utilize Performance-driven Marketing decisions
All the successful marketers are successful at carefully selecting their activities. In the words of marketing lore, you need to fish where the catch remains. For this, first you need to carefully nudge each decision to the right marketing stream.
Marketing CRM lets you perform marketing decisions and collect leads through a single platform. This helps you maximize the returns on each potential lead.
This helps you maximize the returns by accumulating smaller decisions that lead to larger benefit.
Channels to be Paid for and the ones to be neglected
Both Google and Facebook provide free and paid means of advertising to users. In this situation, determining definite returns for both the channels can quickly turn into a head scratcher. Now you may add 20 more marketing channels and you have a realistic image of the situation.
CRM platform helps you oversee the returns corresponding to each channel. You can also evolve a better combination of marketing channels to acquire better returns.
Having the right customer acquisition costs may persuade or dissuade your further marketing returns. In this situation, it’s critically important to achieving the right returns for your marketing operations.