Once you are clear on what you are looking to achieve then it's a case of defining the metrics that will help you evaluate performance in this area. So, for example, if the goal is to improve your management of leads, you might identify a range of relevant metrics such as: numbers received, analysis by source, cost per lead, cost per sale, lead to sale conversion rates, average time to close, etc.
It's important to note that in most cases your reporting requirements will not be met with the out of the box CRM reports in your CRM system. As your business processes are likely to be unique, you will generally require customized reports to manage them, and these can involve a significant investment of time and money. CRM vendors will probably tell you different, but I can tell from the front-line working with lots of different CRM technologies, extracting meaningful management data can be expensive and time-consuming, and you need to budget accordingly.
Dig Deeper on CRM strategy and implementation
Related Q&A from Richard Boardman
Discover the pros and cons of developing CRM in-house in this expert tip. Learn which type of company would benefit from a CRM system developed ... Continue Reading
When implementing open source CRM, pay attention to budget and functionality, as well as other CRM implementation best practices, says expert Richard... Continue Reading
Get the top 10 CRM implementation pitfalls and learn what organizations should avoid when implementing a CRM system in this tip. Continue Reading
Have a question for an expert?
Please add a title for your question
Get answers from a TechTarget expert on whatever's puzzling you.