Key performance indicators (KPIs) are specific, measurable, actionable, relevant, and time-bound (SMART) goals that help businesses track their progress and performance.
There are many different KPIs that can be used to measure the effectiveness of a customer relationship management (CRM) system, depending on the specific goals and needs of the business. Some of the most common CRM KPIs include:
– Customer acquisition cost: The cost of acquiring a new customer, including marketing and sales expenses.
– Customer retention rate: The percentage of customers that continue to do business with the company over a given period of time.
– Customer lifetime value: The total value of a customer to the business over their lifetime as a customer.
– Customer satisfaction: The degree to which customers are satisfied with the products or services they receive from the business.
– Net promoter score (NPS): A measure of customer loyalty, calculated by asking customers how likely they are to recommend the business to others.
– Average deal size: The average amount of money spent by a customer on a single purchase.
– Sales conversion rate: The percentage of leads that are converted into paying customers.
– Lead-to-customer conversion rate: The percentage of leads that are converted into paying customers.
– Time to close: The average time it takes to convert a lead into a paying customer.
– Sales productivity: The amount of revenue generated per salesperson.
