2009
Measuring CRM success?
28/12/09 07:17 Filed in: Success | Measurement
How do you actually measure success?
You measure success in several ways. We have already discussed a couple of measurements, one being increase in revenue The other increase in productivity is more difficult to measure. What actually makes up the increase in productivity number? Let’s look at some of the elements you can track to determine if you are measuring the productivity number successfully.
Accounts Managed: If under your current plan a representative is managing 400 accounts, you would expect them to be able to manage an addition 40 accounts on average across your organization.
Weekly Meetings: If your average weekly meetings across your organization are 2 per rep, you would expect that to increase to 3 a week.
Close Ratio: If your average close ratio is 4 per ten proposals, you would expect that to increase to 4.4 per 10 proposals.
Don’t Forget Soft Measures: The above are some of the tangible targets you can set for measuring the success or failure of the project. Some of the other measures of success are softer than the above measurements but may be more critical to your organization:
You measure success in several ways. We have already discussed a couple of measurements, one being increase in revenue The other increase in productivity is more difficult to measure. What actually makes up the increase in productivity number? Let’s look at some of the elements you can track to determine if you are measuring the productivity number successfully.
Accounts Managed: If under your current plan a representative is managing 400 accounts, you would expect them to be able to manage an addition 40 accounts on average across your organization.
Weekly Meetings: If your average weekly meetings across your organization are 2 per rep, you would expect that to increase to 3 a week.
Close Ratio: If your average close ratio is 4 per ten proposals, you would expect that to increase to 4.4 per 10 proposals.
Don’t Forget Soft Measures: The above are some of the tangible targets you can set for measuring the success or failure of the project. Some of the other measures of success are softer than the above measurements but may be more critical to your organization:
- Provide more information on the individual performance of the representative.
- Allow the management team to concentrate on the problems instead of general broad brush management techniques.
- Reduce turn over: This one may be the most important of any, the cost and lost productivity of turn over are always hard to measure but just in lost opportunity costs it is an important matrix. If you can reduce your turn over ratio, it impacts customer retention, improves revenue, reduces cost and a whole host of other intangible items.
- Reduce the amount of the time a new representative takes to become productive in his territory.