Magazine article Marketing

Opinion: Marketing Society - Marketers Must Not Shun CRM

Magazine article Marketing

Opinion: Marketing Society - Marketers Must Not Shun CRM

Article excerpt

In a downturn, the marketing budget is often the first thing to be slashed, and resources redirected into the sales department. It is an understandable reaction, particularly because the marketing department is often seen solely as a cost centre. In times of trouble, though, marketing can be the tool to help a company upsell to existing customers and increase awareness - and sales - in new markets. Forward-looking marketing can also position a company to benefit more readily than its rivals when a downturn ends.

While it is true that many businesses fundamentally misunderstand the business value of marketing, it is also fair to say that many marketing professionals do little to help themselves.

If business leaders see marketing as a black art and the department as a money pit, it's only because so few marketers can justify their existence in financial terms.

How much effort is spent measuring the return on a campaign, compared with dreaming up the next? How many concrete leads does a successful campaign generate? What proportion of those lead to a sale, and what is the true return on the investment?

If you're not able to provide such information, it's all too easy for a board under pressure to see marketing as an expendable expense.

Sales teams, by contrast, constantly measure their success, and lessons can be learned from the way they work. For example, they use a variety of software tools to help them close a deal and enable them to track the history of interactions with an existing customer, and make predictions about further purchases. …

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