Week Six

Summary:

The first article is a list of 5 CRM metrics that the author believes are the most beneficial to track. They are direct customer feedback, comprehensive view of the customer, engagement levels, escalation response efficiencies, and customer lifetime value. She also notes that companies will likely need metrics beyond these five.

The second article is about customer experience metrics and how to measure happiness. Firms are beginning to shy away from a “one size fits all” strategy for metrics. Zappos once had a ten hour phone call with a woman from Las Vegas, NV making one sale of Ugg Boots. Zappos is one example of a company that has heavily focused on customer needs and satisfaction, by making the customer happy the odds of them returning are very good. Three main building blocks for customer loyalty metrics are customer satisfaction, engagement, and loyalty.

Key Takeaways:

• In addition to direct customer feedback, businesses can now track indirect feedback as well through social media
• CRM metrics are the most useful when they reflect key performance indicators
• Customer satisfaction essentially boils down to two things: satisfaction with the product and satisfaction with the problem solution
• Happy sales agents make happy customers
• By measuring customer satisfaction and engagement it is much easier to get an accurate measurement on customer loyalty
• Learn from your data, i.e if surveyed customers feel they are waiting too long speak with a customer service rep, hire more reps
• Keeping the customer happy is key

Article Citations: 

Baker, Pam. "The Best 5 CRM Analytics." CRMsearch. CRMsearch, n.d. Web. 03 Oct. 2015.

Weiner, Lena. “Customer experience metrics: How do you measure happy?” SearchCRM. 01 Oct. 2015. Web. 04 Oct. 2015.