How can you measure the ROI of CRM in airport management?

1 Define your goals and metrics

Before you can measure the ROI of CRM, you need to define your goals and metrics. What are the specific objectives and outcomes that you want to achieve with CRM? How do they align with your airport's vision, mission, and strategy? How will you measure and track your progress and performance? You may want to use a combination of quantitative and qualitative metrics, such as customer satisfaction scores, retention rates, referrals, feedback, revenue, costs, market share, and competitive advantage.

2 Collect and analyze data

Once you have your goals and metrics, you need to collect and analyze data to measure the ROI of CRM. You can use various sources and methods to gather and process data, such as surveys, interviews, focus groups, observations, CRM software, analytics tools, and reports. You should aim to collect data from different perspectives and stages of the customer journey, such as awareness, consideration, purchase, service, and loyalty. You should also compare your data with your baseline, benchmarks, and targets to assess your performance and impact.

3 Calculate and communicate ROI

After you have collected and analyzed data, you need to calculate and communicate the ROI of CRM. You can use a simple formula to calculate the ROI of CRM: ROI = (Benefits - Costs) / Costs x 100%. Benefits are the positive outcomes or value that you gain from CRM, such as increased revenue, reduced costs, or improved customer satisfaction. Costs are the negative outcomes or expenses that you incur from CRM, such as software, training, or staff. You should communicate your ROI results to your stakeholders, such as customers, employees, managers, and partners, in a clear, concise, and compelling way. You should also highlight your successes, challenges, and lessons learned from CRM.

4 Review and improve CRM

Finally, you need to review and improve your CRM strategy and practices based on your ROI measurement. You should identify the strengths and weaknesses of your CRM initiatives, as well as the opportunities and threats in your market and environment. You should also solicit feedback and suggestions from your stakeholders on how to improve your CRM. You should then use this information to refine your goals, metrics, data collection, analysis, calculation, and communication of ROI. You should also monitor and update your CRM activities and results regularly to ensure continuous improvement and value creation.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?