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CRM metrics basically pertains to a systematic approach in creating relationships with customers in order to provide and obtain satisfaction,

loyalty, and higher revenue. Metrics involve all those CRM-related activities that should be measured. Key metrics represent the vital statistics of healthy CRM, signalling the strength or weakness of the underlying CRM processes.

There are five main categories of CRM metrics


Customer Metrics Operational (employee and process) Metrics, Strategic Metrics and Output and Comparative Metrics. Special Metrics

Customer metrics measure both the value delivered by the organization to the customer and the value delivered by the customer to the organization. They are focused around measures of customer attitude and behaviour. Customer metrics are used to measure:

1. Customer acquisition and customer retention rates 2. Customer satisfaction measures 3. Customer experience 4. Customer complaints and seriousness of them 5. Conversion 6. share of wallet 7. Product density (number of products and services used by a customer) 8. Customer recommendation and advocacy measures 9. Increase in customer value through cross-sell and up sell.

Customer Retention Equity/Lifetime Value. In most businesses, existing customers are the most valuable assets that a company has. Most surveys across industries show that keeping one existing customer is five to seven times more profitable than attracting one new Share of Wallet and Potential Wallet Value. Many businesses use share of wallet as a way to improve their understanding of where added value may exist among their customers. By understanding the total wallet and the share-of-wallet you can identify which customers are the most loyal and which customer have the greatest growth potential. What customer behaviors can you measure and impact that demonstrate the company is improving customer loyalty? You will want some way to measure loyalty. There are a number of approaches to help you measure loyalty. Customer Engagement Engagement should be defined by customer response. that measures both a customers rational assessment of a brand as well as their emotional attachment.

Employee and process metrics focus on how well the organizations resources are managed to optimize CRM at an operational level. People metrics are concerned with standards used to monitor the skills and motivation of employees in delivering the customer experience. Process metrics reflect the efficiency of the organization in delivering CRM, including cost savings secured through process enhancement. Employee metrics are used to measure: Process metrics are used to measure: 1. Employee performance against customer service standards 2. Employee satisfaction 3. Employee attitudes and motivation 4. Employee productivity 5. Staff absenteeism 6. Employee retention and employee tenure 7. Recruitment costs. 1. Customer service levels 2. Order fulfilment 3. Supplier performance targets 4. Variation within key customer processes 5. New product/service development targets 6. Time to market 7. Process improvement targets.

Strategic metrics measure the organizations success in achieving its business objectives within the strategic approach to CRM that has been adopted. They measure, for example, the extent to which the business strategies meet the required shareholder value targets and strengthen the organizations position in the marketplace. Strategic metrics are used to measure:

1. shareholder value added/market value added 2. profitability and cash flow 3. returns on net assets, sales, CRM investments, etc. 4. growth rates 5. expense ratios 6. market positioning 7. innovation 8. brand equity 9. specific targets for other stakeholders.

Output and comparative metrics measure the output of the organizations CRM strategy, especially in relation to competitor activity and recognized best practice. These comparative measures are frequently more important than absolute measures. Sole reliance on internal metrics can be dangerous for they provide an isolated and insular view of the situation. For example, a market share of 20 per cent may be advantageous if the largest competitor has a market share of 10 per cent; however, it may be risky if the two largest competitors have market shares of 30 per cent each. Similarly, high levels of service quality and customer satisfaction are generally only beneficial if they are higher than those of the competition. Output and comparative metrics are used to measure:

1. relative profitability 2. relative market share 3. relative customer satisfaction 4. relative customer retention 5. relative employee retention and satisfaction 6. relative product or service quality 7. cost reduction 8. improvements in employee value (in terms of employee retention and satisfaction) 9. increased competitive differentiation.

Special metrics are sometimes used in conjunction with the four main categories of metrics outlined above. For example, companies with intermediaries may need to implement customer performance measures at different channel levels. Businesses with a strong e-commerce component may need to address the different characteristics of an Internet channel by developing specific e-metrics. Interestingly, despite the availability of data from web channels, relatively few companies use these data to measure and monitor the effectiveness of their e-CRM activities. Special e-metrics are used to measure:

1. stickiness (the web sites ability to hold visitors attention and to get them to become repeat users of the site) 2. focus (the scope and intensity of site visitor behaviour) 3. personalization index (how well the e-business uses personal customer data captured during site visits) 4. lifetime value (the contribution to company profits over the duration of the customer relationship. Measuring lifetime value is particularly important as less valuable customers using other channels can be moved to improved levels of profitability through using the web channel) 5. loyalty value (this includes visitor frequency, visit duration, number of pages viewed per visit, time elapsed between the users first visit and most recent visit) 6. freshness factor (how often content on a web site is reviewed and renewed versus how frequently users visit the site).

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