Quantifying the ROI of Customer Engagement Planning
The internet of things (IoT) is generating Big Data and driving the need for business-ready analytics. But the explosion of marketing channels in which organizations are hoping to engage customers is expanding exponentially through mobile apps, social media and the emerging VRM Personal Cloud. CMOs and marketing departments are stretched thinner than ever to ensure enough perceived reach to drive sufficient customer engagement to sustain and grow their business.
The question becomes how to turn this exploding personal data eco-system to the advantage of the organization. With the customer “in charge” in so many real and virtual locations, how can an organization measure the return on its investment in the various channels so as to maximize marketing effectiveness and minimize wasted cost and effort?
Information Answers has been answering that question for major corporations for more than a decade using a sophisticated ROI mechanism that incorporates all the interdependencies, accounts for all costs across departments and tailors its output to the individual organization’s strategy and planning assumptions. Of course, there is a bit of work to input the necessary organizational information – such as planning assumptions – but it’s straightforward and the toolkit hides the complexity, allowing you to press a button and refine your plans or change course with ease.
With our updated proposition, we can work with firms to quantifiably derive the best case, worst case and most likely scenarios for ROI of customer engagement programs based on planned investments, progress and timing of each component and the anticipated progress of key milestones.
Too often, we find organizations suffering from too much information and subsequently double counting expected returns. Through the discipline and application of our updated Customer Engagement ROI Model – we can link marketing plans with finance’s budget, sales projections with current average revenue per customer and so forth.
Even more importantly, the toolset enables CMOs and CIOs to not only navigate the wealth of information but to safely conduct what-if scenarios so that they can:
• Preflight and refine existing propositions
• Identify, test and cost new proposition opportunities
• Assess the projected return on investment in sufficient detail
• And produce a project plan or product roadmap for deployment.
So, if you are serious – we mean really serious – about customer engagement that is, reaching and interacting with prospects, advocates and customers where they research, shop and buy – this toolset and our global expertise enables you to run test flight simulations before launching or scrambling to keep up in every channel. The outcome for you is informed planning, reduced risk, improved margins and growth by leveraging the huge amount of personal data in this new, customer-centric eco-system.
Don’t drown in the data, contact John Butler today for a free consultation and demonstration of how we can help you!
John Butler
Information Answers
john@informationanswers.com
+1 (201) 600-8962