Then have Google Analytics automatically email the campaign report to your database, which would scrub through it for the user IDs and the utm_content field and update your customer records accordingly.

You could likely do this more neatly with something like Omniture. But what you’re describing isn’t terribly complicated from a technical standpoint. The larger challenge would likely be cultural: Getting the outbound campaign people to incorporate your research methods into their process (aka: use the right tagging).

Research on your audience segment that has already been engaged enough to sign up for your emails is a great idea.