In his book Behind the Cloud: The untold story of how salesforce.com went from an idea to a billion-dollar company–and revolutionized an industry, CEO Marc Benioff shares the following story on pages 44-45:
“. . . [a summer intern] on his own initiative began to analyze the effectiveness of our marketing dollars. At the same time, we were spending $2 to $3 million a month on direct mail and advertising. George used the Salesforce application to determine the number of sales leads being generated by our direct mail campaigns. He found that we had fourteen leads in six months. We were shocked, and none of us could believe how much money we were wasting.”
While you may not be spending millions of dollars each month on direct mail, do you know how many inquiries your direct mail campaigns generate?