In order to get the most out of using a CRM, you need to choose one that provides you with metrics. Regardless of how much automation a platform provides, if it doesn’t complement that automation with easy to access metrics, you’re not going to be able to tell how well it’s working. While being able to analyze a system’s effectiveness is important, some CRM offerings make the mistake of drowning users in data. Since not all data is equally important, you need a product that emphasizes what actually matters. To make the process of choosing the right CRM easier, let’s look at what metrics you should care about:
How Many Leads You’ve Actually Received: This sounds like an obvious metric that would be included in every CRM platform. However, the issue with many is they aren’t able to report the real total. For example, even if a lead falls through the cracks and isn’t pursued, it should be reflected in this total. As you may have guessed, the key to getting this metric correct is in addition to automatically capturing many leads, the system needs to make it dead simple for your entire team to enter any additional leads they interact with or receive.
Lead Quality: As you’ve likely learned time and time again, not all leads are created equal. That’s why it’s so surprising that many CRM options fail to make any distinction between leads. Because there’s no reason for you and your team to waste time pursuing leads that are never going to pan out, it’s crucial that a platform allows you to set up some type of lead rating or scoring system.
Lead Sources: One of the biggest challenges that many businesses face is accurately calculating their marketing ROI. Since most businesses utilize a variety of channels, it can be difficult to pinpoint which ones are driving results and which ones aren’t working out. Fortunately, this challenge can be overcome by choosing a CRM that makes this issue a priority. As with lead totals, the best approach is a platform that combines automation with manual flexibility.
Segmenting and Value: While these are technically separate metrics, it’s common for businesses to use them in conjunction with each other. In terms of segmenting, the best type of CRM is one that allows you to define segments in whatever way you want and then takes care of categorizing leads for you. The platform’s approach to value should be the same. Even though some people assume that lead quality makes value redundant, the latter provides an easy way to prioritize the leads that will be pursued.
Referrals: This metric is useful for two reasons. First, it can help you estimate the incoming lead volume you can expect. Second, it’s an easy way to get a general idea of how well your sales team is doing. The more referrals you receive, the more happy customers you’ve successfully closed!
What Metrics Should Your CRM Provide?,