The first article is about how modern CRM should be viewed as more than just a sales tool. Modern CRM can make it easy for sales and marketing teams to work together and make sure their goals are aligned properly. The article says the sales team should mainly use metrics in order to figure out which segment they should focus on.
The second article discusses customer acquisition costs and metrics. The CAC metric is extremely valuable to investors and business’ alike. By finding the cost per customer acquired it will show whether the company is doing well or needs to reevaluate its marketing choices. CAC can also be spread across many marketing channels, by doing this you can find the weakest link and make improvements.
Managerial Takeaways:
- The metrics you choose should provide a 360-degree view of potential and existing customers
- To gain customer loyalty, organizations need to learn about customers’ habits through an increasing number of channels, including e-mail, social media, and and e-commerce.
- CAC is calculated by dividing all costs spent on acquiring more customers by number of customers acquired in that period
- CAC allow for highly targeted marketing
- CAC can be used over multiple marketing channels
Sources:
Lyle, Billy. "Modern CRM – So Much More Than A Sales Tool." Business 2 Community. N.p., 12 Oct. 2015. Web. 17 Oct. 2015.
Hughes, Chase. “Customer Acquisition Cost: The One Metric That Can Determine Your Company's Fate.” Kissmetrics. 1 Sept. 2015. Web. 18 Oct. 2015.
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