How Companies Like Yours Are Using CRM Analytics

CRM Analytics can make or break your company because your industry, like many others, is changing rapidly. In fact many industries are changing too rapidly to keep tracking using only manual approaches to measuring results. That's why creating a single version of the truth is so important, so you can get to these strategies listed below. These are strategies companies like yours are using analytics to accomplish:

• Measuring the value of customers over their lifetime with your company.
• Determining the cost per lead and eventual cost per sale from each major marketing campaign undertaken.
• Scoring the risk by individual and customer segments based on new pricing strategies.
• Determining how price-sensitive segments of your customer base.
• Answering the question of which bundled products will be of most interest to specific segments in your customer base.
• Being able to measure customer satisfaction over time to see trends in how service is impacting your ability to keep customer loyal.
• Measuring how effective various approaches are at qualifying prospects.
• Analyzing why specific customers and segments churn or turnover and others don't.
• Defining segments by multiple criteria including income, spending, demographics and previous spending.
• Building profiles of customers across several different measures - this comes in very handy when planning which media to buy and why.
• Measuring the performance of your distribution channels and partner contribution to profitability.

Next: >> Quiz: Using CRM Analytics Software Can Help Your Business