Attribution is about looking at the contribution of all channel activity to determine which channel or combination of channels are driving the sales and uplift.
When it comes to CRM as one of those channels, assuming most of your existing customers are on your CRM program (permissions willing etc), you can easily get into a chicken and egg situation.
Afterall, those customers had to buy to come into your CRM program.
They must have responded to our general marketing to get on the program in the first place: it is possible they are just responding to that again?
Yet, this time we sent them additional information, we can see they are engaging. So maybe it was all CRM after all?
My pet hate is relying purely on time series based econometrics for this problem. As that looks at performance over time; and there is rarely a time you don’t to CRM.
Instead you need to do a mixture of:
- Ensuring you have structured tactical control groups and/or fallow groups to determine the true impact of one communication or CRM as a whole
- Testing to prove the uplift of CRM
- Customer journey analysis to understand which customers engage more or less
By doing this, it will then allow you to better attribute it and you can also feed the true uplift into the econometric models.
If you need help understanding the impact of CRM, or how CRM contributes alongside the other channels you use as part of attribution then get in touch.