KPI s for CRM. Introduction to Sales and Marketing KPI s in CRM Part 1
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1 KPI s for CRM Introduction to Sales and Marketing KPI s in CRM Part 1
2 MAS KPI s for CRM Sales and Marketing KPI s to measure with CRM Leads Sales Opportunities Sales Activities Marketing Activities Sales and Marketing KPI s An Introduction Part 1 These are ALL monthly measures and Reviews
3 Leads What do we measure here? Examples could include:- Number of Sales Leads per month But what is important is to measure is the Source of each lead, so look at:- Website Leads Social Media Generated Leads Referral Leads Sales Team Generated Leads What are your other Lead Sources The important thing here is to track in CRM your Source of these New leads.
4 Leads Key Takeaways Always Set a Monthly Target Measure Ratios over Time, say per Quarter, Year on Year for trends and changes Consider if you have a Referral strategy to encourage these leads Use and ensure that all your CRM users know the importance of completing the Source field in your CRM system.
5 Sales Opportunties So what do we measure here? Again, examples can include:- No. of Sales Opportunities per month But what is else important to measure:- Value of Opportunities and their Number Value and Number of Opportunities at Each Stage (e.g. Initial Stage, Demonstration Stage) The Estimated Close Dates and Value Average Opportunities Open Days for an Opportunity. For example, your average may close in 90 days, but some are showing 200+ days open. What is your next action? The important thing here is to track in CRM all your Opportunities, more ideas next.
6 Sales Opportunties Key Takeaways CRM systems are usually strong in this area, so consider how best to configure your own CRM to produce the Reports you need. Also, don t forget to measure how many are from Clients and how many are New Opportunities. Be consistent in what you measure and try not to over-measure. This is easy to do once you have a CRM with a host of options and reports/metrics available. Often, the key question is What is happening next. Make sure you can easily see this in your CRM or CRM Report
7 More on Sales Opportunities ( Other measures could include:- Average monthly Value of Total Opportunities Pipeline ( Moving Annual Total ) Track Source of Opportunities and Review Ensure you include any Annual Contracts Track your Closing Ratios and Win/Loss reasons Review Win/loss reasons as a separate Report. (most CRM systems will enable you to track this or can be configured to track this). Do you know the next Action for each Opportunity Stay in touch with your Lost opportunities. Are they lost forever? If not, schedule a Follow-Up Call for say 3 or 6 months you never know
8 Sales Opportunities (cont d) Key Takeaways Measure Ratios over Time, on Win/Loss. Ensure you meet Quarterly to discuss and track all and possibly grade the Reasons for win and loss of opportunities. Add a reason for Win/Loss into your CRM system for your Sales Opportunities if not there already and track this. Consider the Report or Dashboard layouts for these in CRM
9 Sales and Account Teams Activities So what do we measure here? Typical Examples include:- No. of New Business face to face Meetings per month per Team member can be good starting point. Telesales Volume of calls per week target and talks engaged with*. The important thing here is to track in CRM all these Activities. Use separate Monthly/Weekly Reports Ensure your referral partners calls targeted and are measured as well and don t forget them *Our own research statistics shows a consistent 2/3 of calls made, no actual talk takes place as person is not at desk, out, in a meeting etc.
10 Sales and Account Teams Activities Key Takeaways Compare different Team members Enable other CRM users to compare results can be useful. Ensure you have reasons for each call and some sort of common terminology for calls to be able to easily view. Use and ensure your users know that they have to complete ALL their activities in CRM. consider a carrot and stick approach if they don t!...if it s NOT in CRM, it didn t happen is a good rule!
11 Marketing KPI s (Website) Looking at each area, what do we think are important. So, your Google Analytic KPI s could include:- No. of Page Views No. of New Visitors No. of Unique Visitors* Website Visitors to Web Leads ratio % Social Media generated visits to Web Site Effectiveness of different Campaigns, this may be online campaigns and their ability to generate leads *exclude internal or known IP addresses, e.g. your staff checking, visits to a self service webpages and agency staff working on your site.
12 Marketing KPI s (Website) Key Takeaways Marketing stats should be in CRM wherever possible, but some figures maybe confidential and not track able in your own CRM. Track trends over time and measure against marketing spend Much of this information is readily available inside Google Analytics and should be measured and reported upon by marketing
13 Marketing KPI s ( ) This can be more difficult here if your CRM is not integrated with some of your marketing activities in separate systems examples could be. Marketing activities. The most common add-on with CRM and used for Promotional Offers and Newsletters. However, most CRM systems have a preferred solution they integrate to. Common Marketing tools used include:- Constant Contact Swiftpage Newsweaver Mailchimp
14 Marketing KPI s (Social Media etc) Other common activities in the digital marketing age are:- Social Media Activities for LinkedIn, Facebook, Twitter, Slideshare activity or with Social Media tools such as Hootsuite* Blogs/Whitepapers and other content created and available monthly PR activity Traditional events such as Trade Show Events (leads should be entered into CRM) *MAS are a accredited Hootsuite and Constant Contact, Swiftpage marketing Partner
15 Marketing KPI s (consolidated metrics) Social Media KPI s could include:- No. of Tweets per month, set a target if this is important No. of Followers and traction Website visits driven by Social Media Marketing could includes: Newsletter open and Read Rates Offer open and Read Rates Content Marketing could include Blogs per month Downloads such as White Papers per month
16 Marketing KPI s (Other) Key Takeaways These types of metric will depend upon size of your marketing team and type of marketing activity you undertake. Key here is to continue to test and measure and Track trends over time and measure against marketing spend Remember, you are trying to measure Marketing ROI here, so depending on nature of your business, know what % of your business relies on NEW Business as this may reflect what you will track to some extent
17 Showing Your KPI s in CRM Most CRM systems now offer a number of easy to use options built-in:- Standard Reports Standard Dashboards Excel exports from areas inside of CRM CRM Reports and Dashboards can be customised to suit your requirement, discussing of these requirement should be a key part of any CRM discovery Process undertaken by your CRM Consultancy
18 Showing your KPI s in CRM Final Key Takeaways Choose your KPI s carefully and ensure these are relevent Look to be able to show as many of these as possible in your CRM system Revisit these KPI s Quarterly and Bi-Annually, but ALWAYS track monthly. Act upon change in your KPI s and trends quickly and hold an Annual Review Don t be afraid to add more or take away, but try to be consistent. For example, we have added social media stats only in the last years as a metric
19 What Should I Do Next? 2014 Consider speaking to a MAS consultant if you are interested knowing more about how we can help your company More Questions? Call us on or visit our CRM Discovery page to find out more about choosing or changing CRM or indeed if you are looking to Review your existing system to get more out of it.
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