First of course there was CRM (Customer Relationship Management)
Then there were whispers of CEM (Customer Experience Management)
There is CPM (Customer Performance Management)
CRM cost companies untold millions with little return. CEM was a step in the right direction. And I do believe CPM as a concept could be a round for a while, as Business Intelligent Dashboards and Marketing Dashboards allow us to match the ‘relationship management’ with our prospets to their behaviour, and subsequent buying habits.
Let’s get practical.
First, a key part of CPM Tracking is balancing costs against investment.
Volume, Cost, Profit relationships
Profit vs Cash
Strategic Business Units must consider 2 breakeven points when planning and monitoring marketing investment:
- Profit based breakeven
- Cash based breakeven
Profitability does not guarantee solvency. Opportunities for investment must be based on predicted future cash flow.
It’s no good investing in a profitable marketing project if that project is going to consume your cashflow and not start paying you for too long into the future.
With that commercial focus in mind, let’s look at a few solutions for CPM.
Prospect and Customer Opportunity Management
For SMEs (Small Medium Enterprises), SalesForce.com is very popular.
But I’ve discovered something much to my liking, that many salesforce users have moved over to. And it’s only for the Mac (another reason to switch).
It’s called Daylite 3. http://marketcircle.com/daylite/
Great for SMEs to manage opportunities, teams, correspondence, general CRM type stuff, and limited project management.
Beyond that kind of program, you may need for your CPM (Remember, Customer PERFORMANCE Management), a metrics dashboard for email marketing and web user behaviour of general subscribers and site visitors.
From my studies of ancient Direct Mail methods (well ok, early 1900s seems very ancient to me), Lryis seems to have evolved into a stunningly modern marketing management solution with Lyris HQ.
If you would like assistance in choosing the right combination of CPM tools, including CRM and BI Dashboards, contact me.