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Posted by William Band on June 9, 2011
What are the right metrics to track the success of a CRM initiative? I just updated my report on this topic for 2011. The report illustrates over 70 different metrics and describes how to link them to business strategies and tactics.
What’s new in the report? My clients are incorporating new measures into their portfolio. In addition to traditional operational metrics, they are adding externally focused customer perception metrics. In particular, I see a rise in adoption of voice of the customer (VoC) metrics and “social metrics”:
What is the goal of your CRM initiative? Is it to increase revenue per sales rep, increase average order size, decrease customer acquisition costs, improve customer retention, or decrease service response times? The process of defining a value-based CRM plan starts with linking the highest-level corporate business goals to a clear set of specific CRM strategies and tactics. Align CRM metrics with the business outcomes you are trying to accomplish so that you can track progress toward those goals.
I am very interested in hearing about the CRM metrics that you are using. What the metrics you have found most useful?
Check out the full report on the Forrester site.
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