TMCnews Featured Article
Integrating Open Source with CLM Improves ROI and Customer Satisfaction
By Kelly McGuire, TMCnet Editor
One of the new applications open source system providers are combining into their services is closed loop marketing, or “CLM.”
While some traditional business models utilize customer relationship management, or “CRM,” many companies use it as a management system. Since CLM takes care of all the back-end activity, the system monitors activity and keeps track of all necessary data.
By utilizing open source CRM provider, SugarCRM (News - Alert), with a CLM system, like the one offered by Loopfuse, the combined efforts will take care of front-end and back-end data. From the CLM perspective, it will measure and analyze the activities of any current – or potential – customer that visits a company’s Website, landing pages or e-mail.
And, by continuously tracking the prospects through the sales pipeline, a company’s sales and marketing can proactively engage prospects with the right information at the right time with the correct open source system.
By combining a SugarCRM system and Loopfuse’s CLM, companies can improve their ROI, reduce sales time, improve a company’s bottom line and, most importantly, increase customer satisfaction.
According to a MindTouch best practices study, over 40 percent of the respondents were using the SugarCRM and Loopfuse CLM combination to track the activities of the most active prospects in their sales pipelines.
The study found that the companies with the highest sales conversion rates used lead scoring methodologies, automated drip campaigns, and understood their key sales metrics.
It seems the trend is catching on with larger companies like IBM, Yahoo and Microsoft (News - Alert) that, after recognizing the large volume of traffic, have taken additional steps to empower their sales and marketing managers to maximize the customer lifetime value of their most profitable customers including combining open source and CLM.
Kelly McGuire is a TMCnet Web editor, covering CRM and workforce technologies, and anchor of its daily TMC Newsroom video broadcast. Kelly also writes about eco-friendly "green" technologies and smart grids, compiling TMCnet's weekly e-Newsletters on those topics, as well as the cable industry. To read more of Kelly's articles, please visit her columnist page.
Edited by Kelly McGuire