{"id":6096,"date":"2021-10-13T05:47:39","date_gmt":"2021-10-13T05:47:39","guid":{"rendered":"https:\/\/www.engagebay.org\/blog\/?p=6096"},"modified":"2026-04-23T08:37:05","modified_gmt":"2026-04-23T08:37:05","slug":"crm-metrics","status":"publish","type":"post","link":"https:\/\/www.engagebay.com\/blog\/crm-metrics\/","title":{"rendered":"7 Fundamental CRM Metrics For Small Business Owners"},"content":{"rendered":"<p>Have you ever wondered how to measure your CRM efforts?<\/p>\n<p>If you\u2019re a small business owner, chances are that you don\u2019t have the time or resources to hire an in-house marketing team. You probably wear many hats and juggle multiple responsibilities at once.<\/p>\n<p>That\u2019s why we created EngageBay \u2013 to help busy entrepreneurs like yourself with all of your digital marketing needs. We want to make it easy for you by providing everything from social media management and <a href=\"https:\/\/www.engagebay.com\/blog\/trigger-email-marketing\/\">email campaigns<\/a> to website design and SEO services.<\/p>\n<p>Our goal is simple \u2013 we want our clients to be successful online so they can focus on what matters most (running their businesses).<\/p>\n<p><strong>In this blog post, we will tell you what fundamental CRM metrics you should be measuring as a small business owner and how these metrics can impact your bottom line.<\/strong><\/p>\n<p>By following these hacks, not only will you enhance customer engagement but you will also see a great sales conversion rate!<\/p>\n<p>Read on.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_74 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.engagebay.com\/blog\/crm-metrics\/#7_Vital_CRM_Metrics_You_Should_Keep_Track_Of\" >7 Vital CRM Metrics You Should Keep Track Of<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.engagebay.com\/blog\/crm-metrics\/#1_Customer_Churn\" >1. Customer Churn<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.engagebay.com\/blog\/crm-metrics\/#2_Net_Promoter_Score\" >2. Net Promoter Score<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.engagebay.com\/blog\/crm-metrics\/#3_Customer_Effort_Score_CES\" >3. Customer Effort Score (CES)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.engagebay.com\/blog\/crm-metrics\/#4_Rate_of_Renewal\" >4. Rate of Renewal<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.engagebay.com\/blog\/crm-metrics\/#5_Customer_Retention_Cost\" >5. Customer Retention Cost<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.engagebay.com\/blog\/crm-metrics\/#6_Expansion_Revenue\" >6. Expansion Revenue<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.engagebay.com\/blog\/crm-metrics\/#7_First_Contact_Resolution_Rate_FCR\" >7. First Contact Resolution Rate (FCR)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.engagebay.com\/blog\/crm-metrics\/#How_to_use_CRM_Metrics\" >How to use CRM Metrics<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.engagebay.com\/blog\/crm-metrics\/#1_Setting_up_and_quantifying_your_business_targets\" >1. Setting up and quantifying your business targets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.engagebay.com\/blog\/crm-metrics\/#2_Explaining_the_CRM_strategies_and_tactics\" >2. Explaining the CRM strategies and tactics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.engagebay.com\/blog\/crm-metrics\/#3_Linking_the_business_objectives_to_the_strategies_and_explaining_the_exact_CRM_metrics\" >3. Linking the business objectives to the strategies and explaining the exact CRM metrics<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.engagebay.com\/blog\/crm-metrics\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n\n\r\n            <script>\r\n                var EhAPI = EhAPI || {}; \r\n                EhAPI.after_load = function() {\r\n                    EhAPI.set_account('ktb76s1540fl2hnhbqnrtd2npb', 'our');\r\n                    EhAPI.execute('rules');\r\n                };\r\n                (function(d, s, f) {\r\n                    var sc = document.createElement(s);\r\n                    sc.type = 'text\/javascript';\r\n                    sc.async = true;\r\n                    sc.src = f;\r\n                    var m = document.getElementsByTagName(s)[0];\r\n                    m.parentNode.insertBefore(sc, m);   \r\n                })(document, 'script', '\/\/d2p078bqz5urf7.cloudfront.net\/jsapi\/ehform.js');\r\n            <\/script>\r\n            <script>\r\n                function waitForEhForms() {\r\n                    const interval = 100; \/\/ Check every 100ms\r\n                    const checkAndLoad = () => {\r\n                        const params = new URLSearchParams(window.location.search);\r\n                        const elementorPreviewParam = params.get('elementor-preview');\r\n                        if (elementorPreviewParam && typeof EhForms !== 'undefined' && typeof EhForms.loadForms === 'function') {\r\n                            EhForms.loadForms();\r\n                            console.log('EhForms.loadForms() called successfully.');\r\n                        } else {\r\n                            setTimeout(checkAndLoad, interval);\r\n                        }\r\n                    };\r\n                    checkAndLoad();\r\n                }\r\n                \/\/ Call the function\r\n                waitForEhForms();\r\n            <\/script>\r\n        <div class='engage-hub-form-embed' id='eh_form_5161654467690496' data-id='5161654467690496'><\/div>\n<h2><span class=\"ez-toc-section\" id=\"7_Vital_CRM_Metrics_You_Should_Keep_Track_Of\"><\/span>7 Vital CRM Metrics You Should Keep Track Of<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Metrics play a vital role in the development and success of any business. Talking about <\/span><a href=\"https:\/\/www.engagebay.com\/products\/crm\"><b>CRM<\/b><\/a><span style=\"font-weight: 400;\">, we use the term metrics for tracking various aspects of marketing, sales, and customer service.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This offers you a better understanding and control over your efforts. Compared to an intuitive approach, CRM metrics let you track performance in a much better and quantifiable way.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The metrics you need to track largely depend on your sales and marketing needs. <\/span><span style=\"font-size: 16px; font-weight: 400;\">These are some of the questions you need to ask yourself before choosing the metrics you need to track:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Which fundamental CRM metrics<span style=\"font-weight: 400;\"> should you use as an indication of success?&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What marketing, sales, and customer service metrics should you keep an eye on?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How can you locate them appropriately?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">That said, there are some standard metrics for all businesses.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s dive deeper into these important ones, shall we?<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Customer_Churn\"><\/span>1. Customer Churn<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Customer churn is synonymous with customer turnover or customer attrition. This <\/span>CRM success metric explains the percentage of customers you lose during a given period.<\/p>\n<figure id=\"attachment_16585\" aria-describedby=\"caption-attachment-16585\" style=\"width: 1300px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.google.com\/url?sa=i&amp;url=https%3A%2F%2Fchattermill.com%2Fblog%2Fchurn-analysis%2F&amp;psig=AOvVaw0SAMIhc1fR-3Pl44y9cL_x&amp;ust=1633798720524000&amp;source=images&amp;cd=vfe&amp;ved=0CAwQjhxqFwoTCNjznumku_MCFQAAAAAdAAAAABAY\"><img decoding=\"async\" class=\"size-full wp-image-16585\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2021\/08\/churn.png\" alt=\"Customer churn in CRM metrics\" width=\"1300\" height=\"974\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2021\/08\/churn.png 1300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2021\/08\/churn-300x225.png 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2021\/08\/churn-1024x767.png 1024w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2021\/08\/churn-768x575.png 768w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2021\/08\/churn-595xh.png 595w\" sizes=\"(max-width: 1300px) 100vw, 1300px\" \/><\/a><figcaption id=\"caption-attachment-16585\" class=\"wp-caption-text\"><em>Source: Chattermill<\/em><\/figcaption><\/figure>\n<p>You can make this calculation on a monthly, quarterly, and yearly basis. <a href=\"https:\/\/www.engagebay.com\/blog\/customer-retention-strategies\/\">Customer churn<\/a> is one of the easiest performance metrics<span style=\"font-weight: 400;\"> to measure among all the customer success metrics.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For an example, let\u2019s take one month as the range. This is how customer churn rate is calculated:&nbsp;<\/span><span style=\"font-weight: 400;\">Proceed by counting the total number of customers at the start of the month. Then, monitor the number of customers at the end of the month.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finally, go ahead by subtracting the ending number and divide this answer by the starting number.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let us understand this with an example.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Suppose you have 100 customers at the beginning of the month. But, after monitoring the figure at the end of the month, you get only 90 customers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Proceed by subtracting ninety from hundred; the result is 10. Finally, divide 10 by a hundred, and you fetch the output of 0.1 (10%).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your customer churn rate is 10%, meaning you are losing 10% of the customers you\u2019re adding.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With this example, you can see why it&#8217;s such an important metric for any business.<\/span><\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/customer-relationship-management-examples\/\">Read also: 6 No-nonsense Examples of Customer Relationship Management<\/a><\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Net_Promoter_Score\"><\/span>2. Net Promoter Score<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Net promoter score (NPS) is a feature-rich <\/span><b>customer success metric<\/b><span style=\"font-weight: 400;\"> for measuring customer satisfaction.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is how it goes. You ask your customers the following question:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201c<\/span><i><span style=\"font-weight: 400;\">How likely will you be recommending our products to your colleagues or friends<\/span><\/i><span style=\"font-weight: 400;\">?\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Based on the question, they respond to you on a scale of 0 to 10. Usually, the number 10 is for \u2018<\/span><i><span style=\"font-weight: 400;\">very likely<\/span><\/i><span style=\"font-weight: 400;\">,&#8217; and 0 is &#8216;<\/span><i><span style=\"font-weight: 400;\">not likely at all\u2019<\/span><\/i><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The customers responding with a score of 9 or 10 are your \u2018<\/span><i><span style=\"font-weight: 400;\">promoters<\/span><\/i><span style=\"font-weight: 400;\">.&#8217;&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The customers responding with a score of 7 or 8 are called \u2018<\/span><i><span style=\"font-weight: 400;\">passives<\/span><\/i><span style=\"font-weight: 400;\">.&#8217; These customers are neutral and may not recommend your products after all.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Those customers responding with a score of 6 or below are the &#8216;detractors.&#8217; <\/span>Since NPS affects brand perception, it is quite a powerful CRM metric.<\/p>\n\r\n            <script>\r\n                var EhAPI = EhAPI || {}; \r\n                EhAPI.after_load = function() {\r\n                    EhAPI.set_account('ktb76s1540fl2hnhbqnrtd2npb', 'our');\r\n                    EhAPI.execute('rules');\r\n                };\r\n                (function(d, s, f) {\r\n                    var sc = document.createElement(s);\r\n                    sc.type = 'text\/javascript';\r\n                    sc.async = true;\r\n                    sc.src = f;\r\n                    var m = document.getElementsByTagName(s)[0];\r\n                    m.parentNode.insertBefore(sc, m);   \r\n                })(document, 'script', '\/\/d2p078bqz5urf7.cloudfront.net\/jsapi\/ehform.js');\r\n            <\/script>\r\n            <script>\r\n                function waitForEhForms() {\r\n                    const interval = 100; \/\/ Check every 100ms\r\n                    const checkAndLoad = () => {\r\n                        const params = new URLSearchParams(window.location.search);\r\n                        const elementorPreviewParam = params.get('elementor-preview');\r\n                        if (elementorPreviewParam && typeof EhForms !== 'undefined' && typeof EhForms.loadForms === 'function') {\r\n                            EhForms.loadForms();\r\n                            console.log('EhForms.loadForms() called successfully.');\r\n                        } else {\r\n                            setTimeout(checkAndLoad, interval);\r\n                        }\r\n                    };\r\n                    checkAndLoad();\r\n                }\r\n                \/\/ Call the function\r\n                waitForEhForms();\r\n            <\/script>\r\n        <div class='engage-hub-form-embed' id='eh_form_5161654467690496' data-id='5161654467690496'><\/div>\n<h3><span class=\"ez-toc-section\" id=\"3_Customer_Effort_Score_CES\"><\/span>3. Customer Effort Score (CES)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Customer effort score is another vital customer satisfaction measurement strategy.&nbsp;<span style=\"font-weight: 400;\">This metric measures the effort a customer has to apply to get their queries answered or issues resolved.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The more effort the customer puts, the lower will be the level of satisfaction.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is better to look at your CES and NPS score in unison as it gives a more accurate picture of how satisfied your customers are. With a CRM software like HubSpot or EngageBay, you can easily track key CRM metrics in your sales and customer support dashboards.<\/span><\/p>\n<h3><img decoding=\"async\" class=\"aligncenter wp-image-14419 size-full\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2021\/08\/image3.gif\" alt=\"sales dashboard\" width=\"1366\" height=\"656\"><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"4_Rate_of_Renewal\"><\/span>4. Rate of Renewal<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Rate of renewal is vital for subscription-based businesses. It shows the percentage rate at which customers renew their relationship with your company and is a powerful indicator of your company&#8217;s growth.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, if your business has 100 customers at the start of the year and only 95 renew their contracts, the renewal rate will be 95%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It&#8217;s a straightforward <\/span>metric to measure CRM<span style=\"font-weight: 400;\"> success and is highly effective for organizational success. In fact, this metric lets you know if your company is offering long-term value to your customers.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_Customer_Retention_Cost\"><\/span>5. Customer Retention Cost<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Do you know how important customer retention is?&nbsp;<\/span><\/p>\n<p><b>Research shows that almost 80% of the organizations\u2019 revenues come from 20% of the existing customers!<\/b><\/p>\n<p><span style=\"font-weight: 400;\">In a nutshell, customer retention efforts should outweigh customer acquisition efforts.&nbsp;<\/span><\/p>\n<figure id=\"attachment_16583\" aria-describedby=\"caption-attachment-16583\" style=\"width: 700px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.google.com\/url?sa=i&amp;url=https%3A%2F%2Fwww.nextgenerationautomation.com%2Fpost%2F80-20-rule&amp;psig=AOvVaw24wnA0_KNUZDwIXojBHoxt&amp;ust=1633798348700000&amp;source=images&amp;cd=vfe&amp;ved=0CA0Q3YkBahcKEwiI8oCvo7vzAhUAAAAAHQAAAAAQCQ\"><img decoding=\"async\" class=\"size-full wp-image-16583\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2021\/08\/80-20.png\" alt=\"CRM Metrics 80\/20 rule\" width=\"700\" height=\"450\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2021\/08\/80-20.png 700w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2021\/08\/80-20-300x193.png 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2021\/08\/80-20-595xh.png 595w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><figcaption id=\"caption-attachment-16583\" class=\"wp-caption-text\"><em>Source: Next Generation Automation<\/em><\/figcaption><\/figure>\n<p>The calculation of customer retention cost is a vital CRM metric and depends upon the successful implementation of the following:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Begin by defining the time period for the calculation. The period may be monthly, quarterly, or yearly as per convenience.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Proceed to add the entire customer retention expenditure for the organization. These involve tools, materials, and timing.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Divide the figure by the total number of customers resulting in successful retention for that period.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Finally, you will reach the stage of determining the average cost of retaining a single customer for the organization.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Make sure that the cost of retaining customers doesn&#8217;t exceed the average revenue of these customers.<\/span><\/p>\n<p><em><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/crm-roi\/\">Read also: What Nobody Tells You About CRM ROI: A Thought-Provoking Guide<\/a><\/em><\/p>\n<h3><span class=\"ez-toc-section\" id=\"6_Expansion_Revenue\"><\/span>6. Expansion Revenue<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The measurement of expansion revenue is the same as measuring an organization&#8217;s customer renewal rate. <span style=\"font-weight: 400;\">It refers to the amount of revenue a company generates from the existing customer through upselling and cross-selling.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per Forbes, about 80% of the company&#8217;s future revenue is generated from existing customers. <\/span><span style=\"font-weight: 400;\">That\u2019s why it&#8217;s important to expand the size of <a href=\"https:\/\/www.engagebay.com\/blog\/customer-retention-strategies\/\">retaining customers<\/a>.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is how you calculate expansion revenue:&nbsp;<\/span>Divide new revenue from upsells and cross-sells within a month by the revenue from those sources at the end of the past month. The result is your revenue expansion rate.<\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/crm-for-marketing\/\">Read also: CRM for Marketing Success: What Tools to Use and How<\/a><\/p>\n<h3><span class=\"ez-toc-section\" id=\"7_First_Contact_Resolution_Rate_FCR\"><\/span>7. First Contact Resolution Rate (FCR)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The first contact resolution rate is also an important <\/span><b>CRM metric<\/b><span style=\"font-weight: 400;\"> you should measure.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">First Call Resolution or FCR indicates your customer service team&#8217;s ability to resolve customer inquiries within the initial contact (through phone, email, chat, etc.).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ideally, customer service teams should strive to solve customer issues without following up on the initial call.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">FCR rate should be as close to 100% as possible, and 90% is usually considered excellent. Anything less than 50% is considered a cause for concern.<\/span><\/p>\n<p>We\u2019ve seen seven of the most important CRM metrics. There are others too: <a href=\"https:\/\/www.engagebay.com\/blog\/email-marketing-campaigns\/\">marketing campaign<\/a> ROI, lifetime customer value, sales cycle duration, customer acquisition cost, <a href=\"https:\/\/www.engagebay.com\/blog\/customer-lifecycle-management-clm\/\">customer lifetime value<\/a>, etc., to name a few, and you can go through our <a href=\"https:\/\/www.engagebay.com\/blog\/\">blog<\/a> to find detailed articles about them all.<\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/saas-marketing-metrics\/\">Read also: Read also: Multichannel Retailing: Everything You Need to Know<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_use_CRM_Metrics\"><\/span>How to use CRM Metrics<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">CRM metrics alone cannot guarantee the success of your business. You have to align it with intelligent CRM strategies.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">How do you do that?<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Setting_up_and_quantifying_your_business_targets\"><\/span>1. Setting up and quantifying your business targets<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Ensure that the efforts you put into setting up a <a href=\"https:\/\/www.engagebay.com\/blog\/crm-strategy\/\">CRM strategy<\/a> increase revenue while also reducing customer acquisition costs and service. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Set up measurable goals so that the metrics mentioned above can indicate how close you are to your goals.&nbsp;<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Explaining_the_CRM_strategies_and_tactics\"><\/span>2. Explaining the CRM strategies and tactics<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">To achieve the goals, you should quantify previously set tactics and strategies. You should identify a convenient formula for every client-oriented process, including sales, service, and marketing.<\/span><\/p>\n<p>To implement the <a href=\"https:\/\/www.engagebay.com\/crm\/b2b-crm\">B2B CRM<\/a> components, you must be aware of the methodologies for the best usage of the CRM metrics.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Linking_the_business_objectives_to_the_strategies_and_explaining_the_exact_CRM_metrics\"><\/span>3. Linking the business objectives to the strategies and explaining the exact CRM metrics<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If you want to enhance your profits, your objective should be to boost your sales efficiency.&nbsp;<\/span><\/p>\n<p>The CRM metrics to keep track of here are the sales closing rate and the sales calls figures.<\/p>\n<p><span style=\"font-weight: 400;\">By linking objectives and strategies with CRM metrics, you can explain and tweak your processes to achieve your goals.&nbsp;<\/span><\/p>\n<p><em><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/sales-analysis\/\">Read also: Sales Analysis and Why It Matters to Small Business Owners<\/a><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">We\u2019ve seen how important CRM metrics are for the growth of your business. We\u2019ve also seen the various metrics and ways to implement them into your workflow.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s time to take action.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A CRM software offers automated reporting so that you don\u2019t have to calculate everything manually. There are dozens of CRM software in the market today, with exceptional reporting and analytics tools.<\/span><\/p>\n<p><strong>For small businesses, <a href=\"https:\/\/www.engagebay.com\/\">EngageBay<\/a> is an excellent CRM software. It offers an intuitive dashboard with powerful CRM metrics. What\u2019s more, you can customize them and even add your own reports. You can even connect to third-party analytics applications.&nbsp;<\/strong><\/p>\n<p>You can get started with our forever-free plan. 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