Use these metrics to identify areas for improvement in your sales process and develop strategies to increase revenue.
2) Customer Retention Metrics
This metric helps you understand how well you are keeping your customers happy . You can track:
- Churn rate It shows how many spain phone number data customers you lost over a period of time.
- Net Promoter Score It measures customer satisfaction levels and the likelihood that a customer will recommend your business to others.
These are critical to maintaining a stable customer base and identifying growth opportunities.
3) Productivity indicators
This metric helps you measure how effectively you are using your CRM system. You can track:
- Save time on daily tasks and how CRM can streamline your business processes.
- The number of customer interactions can my domain be transferred to another provider? per agent (sales/support) can help you understand how your team is engaging with your customers.
- The time your team spends following up with leads.
You can use these metrics to optimize your team’s performance and explore areas where CRM can add the most value to your business.
4) Cost reduction indicators
This metric shows how your CRM helps you reduce your day-to-day operating costs. You can track:
- Customer Acquisition It lets you b2b phone list know how much you’re spending to attract new customers.
- Marketing campaign effectiveness evaluates the profits you earn through marketing activities such as running advertisements or launching events.
- Support Ticket Resolution This shows how quickly your support team resolves customer issues.
These metrics help you quantify financial benefits and explore areas where CRM can help save costs.
How to Measure CRM ROI
Sarah will first calculate the cost of the investment using factors such as software implementation and other ongoing expenses. Next, she will quantify the profit generated by CRM using factors such as sales revenue, productivity, and customer retention.
She would then apply the ROI formula, dividing the CRM profit by the total investment she made and multiplying by 100 to get a percentage.
As you can see, this approach takes a lot of time. It requires collecting data and analyzing costs for revenue and productivity, which can be time-consuming and prone to human error.