A CRM system manages customer relationships and provides a comprehensive overview of a company’s interactions with its customers. The effectiveness of a CRM can be measured using KPIs. In this blog post, we explain the importance of these measurements and recommend a powerful CRM tool.
If you would first like to understand what a CRM is and what it is used for, read our blog post about it
What is a KPI?
KPIs are indicators that measure the efficiency of a CRM strategy. Once a CRM tool has been selected, KPIs should be used to continuously monitor the strategy and adjust it if necessary
Source: monday.com
Why should you measure the effectiveness of a CRM strategy?
Many CRM projects do not always achieve the desired results, which is why it is crucial to continuously measure the effectiveness of the CRM strategy. KPIs play a central role here, as they not only increase performance but also motivate employees. They also promote responsibility and commitment, which in turn can give the company a clear competitive advantage.
Which KPIs should be measured?
The KPIs for measuring the effectiveness of a CRM strategy can be divided into different types and selected according to the defined SMART goals.
- Sales and revenue KPIs include the conversion rate, the duration of the sales cycle and revenue per customer.
- Marketing KPIs include the number of leads generated, cost per lead, click-through rate, email open rate and marketing conversion rate.
- Customer service KPIs include, for example, the Net Promoter Score (NPS) and the customer retention rate.
Which CRM tool to use for KPI measurement?
KPI calculation can be time-consuming without the right tool. Companies should choose a customizable software with a clear dashboard. monday.com is well suited for the evaluation of CRM KPIs.
monday.com is a leading CRM tool used by companies to optimize their customer relationships. It supports KPI calculation and can be integrated with other software programs to speed up data analysis. With its intuitive user interface and clear data presentation, it facilitates KPI monitoring and motivates employees through a standardized presentation of results.
Choose a CRM tool with an attractive dashboard
Dashboards play a crucial role in KPI measurement as they centralize and visualize data, giving decision makers a quick overview of CRM performance. With the monday.com tool, users can create a customized dashboard by adding tables and deciding whether it should be public or private. This makes it easier to access centralized data, even if it is stored in SaaS software
The strengths of the monday.com dashboard
The collaboration software monday.com allows users to customize dashboards by using widgets. The user has a widget panel at his disposal from which he can select the shapes that suit him best. These widgets include:
- Figures
- Table
- Battery
- Graphic
- Workload
- chronological
- Human resources
Source: monday.com
By using monday.com, users can easily select relevant widget blocks and integrate data to monitor their team’s performance in real time. In addition, the KPI dashboard enables the creation of detailed reports to improve performance and identify areas for improvement, which can be automatically generated and shared. CRM KPIs play a crucial role in strengthening customer relationships and increasing sales through increased customer satisfaction, thereby supporting an effective CRM strategy.
Conclusion
The measurement of CRM KPIs is crucial for the success of customer relationship assumptions. With the right tool, companies can monitor their performance and identify optimization potential. KPIs serve as signposts to navigate the corporate strategy in the digital market environment.
Do you have questions about CRM KPIs or need support with implementation? We at Blinno are at your disposal. Contact us to find out more about how we can help you get the most out of your CRM strategy.
