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SmartData Collective > Analytics > Ensure Your CRM Project Delivers Real Results [INFOGRAPHIC]
Analytics

Ensure Your CRM Project Delivers Real Results [INFOGRAPHIC]

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Last updated: 2013/10/18 at 8:00 AM
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Business benefits and ROI on CRM projects are no longer a ‘nice to have’ but a prerequisite so discover how to prove them.

Contents
Tangible Benefits (and how to prove them)Tangible Benefit #1 – More and bigger deals at less costTangible Benefit #2 – Happier customers staying with youIntangible Benefits (and how to measure them)Intangible Benefit #1 – More efficient processesIntangible Benefit #2 – Happier and more motivated staff

Even though businesses are more focused than ever before on the bottom-line numbers that everything they invest in delivers, CRM ROI can still be broken down into tangible and intangible benefits.

Business benefits and ROI on CRM projects are no longer a ‘nice to have’ but a prerequisite so discover how to prove them.

Even though businesses are more focused than ever before on the bottom-line numbers that everything they invest in delivers, CRM ROI can still be broken down into tangible and intangible benefits.

Tangible Benefits (and how to prove them)

  • Tangible Benefit #1 – More and bigger deals at less cost

        This study from Success with CRM shows that CRM solutions can deliver:

  • 10% sales revenue growth per sales representative each year
  • 5% cut to the cost of sales
  • 5% increase in win rates for forecasted sales

How to prove it: Map data from the CRM reports against historical data for these KPIs.

  • Tangible Benefit #2 – Happier customers staying with you

Businesses using CRM effectively deliver better customer experiences, which results in better customer retention rates:

  • according to Apptegic, a 5% cut in customer churn rate delivers 25-125% more profit!
  • Gartner says 80% of your future revenue will come from just 20% of your existing customers!

How to prove it: Compare customer churn rates for the 2 years prior to the CRM implementation to the first two years of its use; and also track improvements in your customer satisfaction surveys.

Get more tips on proving ROI in this article from CRM Infoline.

Intangible Benefits (and how to measure them)

  • Intangible Benefit #1 – More efficient processes

All departments can easily access customer information, saving time and improving processes across the business through automation:

  • Marketing benefit from automatic lead capture and assignment, tools to automate lead scoring, and the ability to easily track who’s been sent what, when and whether they responded.
  • Sales benefit from Marketing’s automated lead assignment and spend less time doing admin and more time selling.
  • Finance benefit from automated invoicing and better visibility of who’s paid and, if they haven’t, whether they have a customer service issue
  • Customer support benefit from automatic case creation via email or website and tools to automate assignment and prioritisation.

How to measure it: Advice from Success with CRM says ROI can be measured by time spent on value-adding tasks after implementation.

  • Intangible Benefit #2 – Happier and more motivated staff

Giving people easy access to the info they need to do their job better improves motivation and shows how they impact the wider business:

  • Happier staff are 12% more productive
  • Tight deadlines cause employee stress so Intangible Benefit #1 frees up their time to focus on them

How to measure it: Employee satisfaction surveys with CRM users to show how it’s made them happier.

 

TAGGED: CMR
workbooks October 18, 2013 October 18, 2013
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