Even if you believe you’ve developed the best product or service in the world, you must find people who agree enough to buy what you’re selling. With customer relationship management (CRM) analytics, you can determine who’s buying, who might buy soon and how you can retain your customers. Below, learn more about CRM analytics, how they work and why and how your company should collect them.
CRM analytics are data that demonstrate your company’s sales and customer service performance. CRM analytics provide customer data that can inform smarter business decisions. Typically, you’ll use CRM software to obtain CRM analytics and automate all your data collection and report generation.
CRM software platforms offer a wide breadth of measurable analytics. The below metrics are the most important.
Customer relationships are largely built before anyone purchases anything. Customers rarely buy a product or service before investigating the offering and brand. For this reason, tracking presale analytics is crucial.
Consider the following presale CRM analytics you should track:
CRM analytics tools can help you track audience engagement and focus on the most promising qualified leads.
After a lead becomes a customer, it’s time to focus on customer retention strategies. Gathering post-sale CRM analytics can help you keep your customers and foster long-term relationships.
Crucial CRM metrics to pay attention to after the sale include the following:
CRM software can help you implement a sales cycle that continually brings in new customers while keeping current customers satisfied and loyal.
CRM analytics reporting can help you take the data yielded by your CRM analytics tracking and compile it into actionable insights. Consider the following helpful CRM analytics reports:
CRM software is crucial for managing customer relationships. You can integrate most CRM software solutions with the business software you use daily to extract vital information that informs business decisions.
Tracking CRM analytics requires three elements:
In addition to robust CRM analytics capabilities, you should look for a platform with must-have CRM features like sales force automation and marketing automation functions.
The best CRM systems make tracking analytics effortless and provide additional features to improve customer and lead management. Consider the following top solutions for small and midsize businesses:
CRM software benefits are many and varied. However, CRM analytics are particularly valuable in the following areas: