Investing in a CRM solution will help grow revenues, cut operating costs, and boost IT efficiencies, but many businesses need help quantifying the ROI of implementing CRM software. Of the dozens of insights a CRM program can provide, what are the most valuable to small and medium sized businesses? To some extent that is a personal choice question since not all metrics fit every industry or every company.
There are, however, some numbers that are key to the success of all businesses. Since the success of every business is founded on its customers, these universal metrics focus on the health and growth of the company in terms of sales and customer retention.
Everyone from the CEO to each individual salesperson must have a solid grasp of what it takes to find and acquire a new customer, the value of that customer, and success in retaining that customer. Being able to track and quantify these has been a difficult task—until now. With the advent of CRM programs small and medium size companies now have a tool that can make acquiring and maintaining these numbers a reality.