This study reveals astounding results about the strategic value of closed-loop marketing. Top performing organizations are improving message relevancy, conversion, and Return on Marketing Investments (ROMI) with closed-loop marketing practices and processes. Learn what the best-in-class steps are required in achieving closed-loop marketing success.
The CMO Strategic Agenda:
Automating Closed-Loop Marketing
March 2008 The CMO Strategic Agenda: Automating Closed-Loop Marketing Page 2
Executive Summary
Aberdeen surveyed 315 enterprises to identify current closed-loop Research Benchmark marketing challenges, tactics, and strategies. The study reveals astounding Aberdeen's Research results about the strategic value of closed-loop marketing. Top performing Benchmarks provide an in-organizations are improving message relevancy, conversion, and Return on depth and comprehensive look Marketing Investments (ROMI) with closed-loop marketing practices and into process, procedure, processes. methodologies, and technologies with best practice identification and actionable Best-in-Class Performance recommendations Aberdeen used three key performance criteria to distinguish Best-in-Class companies. Best-in-Class demonstrated the following performance: . 36% average increase in year-over-year annual revenue . 26% average increase in year-over-year ROMI . 21% average lift in year-over-year conversion rates
Competitive Maturity Assessment Survey results show that the firms enjoying Best-in-Class performance shared several common characteristics: . Currently leverage closed-loop marketing processes or technologies (88%) . Analyze customer behavior to segment and target markets with future marketing efforts (56%) . Documented processes to collect and manage customer response from all customer-facing functions in the organization (42%)
Required Actions In addition to the specific recommendations in Chapter Three of this "What is the most common report, to achieve Best-in-Class performance, companies must: process for leveraging customer analytics for closed-. Develop a robust customer database for closed-loop loop marketing? It seems to me marketing efforts. Best-in-Class centralize profile data, customer that web analytics and behavior, and sales and marketing activity to one database. customer analytics create a great deal of data points, but . Be pragmatic about closed-loop marketing adoption. it's difficult to translate all of Closed-loop marketing can positively impact revenue, conversion, them rapidly enough to make and ROMI. However, it takes time to nurture the organizational real-time changes to marketing processes that support the technologies. Consider a phased messages." approach to closed-loop marketing and be sure to include small ~ Director of Marketing, wins to maintain organizational momentum. Financial Services Company
Table of Contents Executive Summary.......................................................................................................2 Best-in-Class Performance.....................................................................................2 Competitive Maturity Assessment.......................................................................2 Required Actions......................................................................................................2 Chapter One: Benchmarking the Best-in-Class .....................................................5 What is Closed-Loop Marketing?.........................................................................5 The Maturity Class Framework............................................................................6 The Best-in-Class PACE Model ............................................................................7 Best-in-Class Closed-Loop Marketing Strategies .............................................8 Chapter Two: Benchmarking Requirements for Success..................................11 Metrics that Matter: Measuring Closed-Loop Marketing .............................12 Justifying Investments in Closed-Loop Marketing ..........................................13 Competitive Assessment......................................................................................15 Capabilities and Enablers......................................................................................16 Enabling Technologies for Best-in-Class...........................................................19 Chapter Three: Required Actions ..................................................... [download for more]
