How CRM shows ROI
A CRM shows ROI by reporting data on sales, time spent on tasks and results – all while making it look easy!
ROI data can be viewed in the form of currency, percentages and colour-coded charts.
Here are 4 ways to measure ROI in a CRM system and to gain a more detailed and actionable view of your ROIs.
1. Campaign ROI
CRM Campaign tools collect costs, notes, and demographics, so you can watch which products bring the best results. Are you launching several new products at once? Compare the performance side-by-side and spot the winners.
- Connect your closed deals to your product launches
- Report revenue or closed deal units
- Download your ROI reports to PDF
2. Average sales cycle length
Research and experience helps train new staff. On a monthly basis, use your CRM to track how long it really takes for a lead to go from the first “hello” to a closed deal. With these timescales, you can tweak your nurturing process and see how different events or mailing campaigns affect the speed of the cycle.
3. Activity vs Impact
Would you include the quantity of hours worked in your job title? In a competitive age, a social media content creator can report the hours they spent to produce a video asset, in addition to the scheduling and posting activities. Once these times are logged over a space of a week or month, the impact can be measured with engagement stats, views, or even website clicks. It can be used to promote consultants to your clients.
4. Churn Rates
A leaving customer teaches us a lot about our services, and so does the time that they leave. On a monthly or yearly basis, you can keep track of how many new customers you attract into your business vs how many lost within a timeframe. These churn rates can then be used to compare against the outgoing customer retention costs. From there, you can experiment with other investment strategies and monitor the difference.
Don’t forget to pick your campaigns wisely! The sooner you get tracking, the sooner you can optimise your investments. We can help you set up a campaign, connect your opportunities to advertising activities and much more than you can imagine!
Speak to our specialists to set up your ROI processes
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