CRM Starts With Understanding Pressing Customer Issues

There are key metrics for evaluating business-related customer issues and
Expectations:

1. Customer Profitability Analysis:
Determine if customers profitability levels are acceptable, if it is lower than-expected or declining, customer profitability levels may want to focus first in CRM initiatives on increasing the value that customers are bring to the organization.

2. Customer Attrition Analysis:
Metrics should be used to monitor the percentage of customers leaving over time. When experiencing high levels of attrition or increasing attrition, may need to consider customer-retention initiatives as one of their key objectives.

3. Lifetime Value Recognition Analysis:
Organization could be wrong in the way they maximize the value that customers are expected to bring over their lifetime or the length of their expected relationships.

4. Products per Customer/Household Analysis:
An increase in the number of products per customer or household can indicate increased revenue, but does not necessarily indicate increased profitability. It is critical to look at the two in combination, being focus on marketing and cross-sell initiatives that will increase
the number of products per customer/household in ways that increase customer value.

5. Customer Satisfaction Analysis:
Customer satisfaction is an important metric that spans all channels and products and can help predict customer loyalty as well as define areas of service improvement. To determine customer satisfaction, is needed to ask customers how satisfied they are about the products, services and channels they use.

6. Customer Needs and Preference Analysis:
The data derived from a sort of questions can be analyzed in aggregate to determine general preferences and needs. The data can be looked at on a customer-by customer basis to develop an initiative based on customer.

7. Bottom Line:
At developing successful CRM initiatives, organizations must understand customers’ pain points as well as customers’ wants. They can then develop initiatives that provide value to the customer.