Is your CRM metrics dashboard and method for tracking interactions helping or hurting your profits?

“Unfortunately, many dashboards are based on flawed metrics and measurement techniques that are not predictive of success. These dashboards will not lead to profitable growth and success for companies, just misspent resources.” RKM Research & Communications, 2016

Tracking-InteractionsToday’s companies must constantly wade through piles of data to complete even the simplest of tasks. We are being asked – on a regular basis – to do more with our data but are provided with fewer resources. Defining these metrics is the focus of a corporate dashboard, providing a relevant and dynamic view of data that can be turned into information easily and efficiently.

But the driving element of each dashboard is to organize and effectively use the key performance indicators [KPIs] that you have defined. There are guiding principles to effectively use a dashboard with today’s CRM systems.

When you are defining your KPIs – make sure that they are directly applicable to your sales opportunities. Your KPIs really have to be tied to the company’s sales strategy. You have to be able to execute a sales opportunity based on your amassed KPIs – or you will be wasting everyone’s time. And the dashboard and its defined KPIs are only as good as the frequency that you review the information. Knowing that you are reviewing material on a hourly basis [example] will also provide your company’s support services necessary information to assist you – support that might be required in a sale.

Your metrics dashboard must be kept simple and be limited to no more than 20 KPIs. Any more than this will dilute your time and your effectiveness in executing a sale. But as important to this process is the fact that each dashboard owner must provide education, how-to-use steps, so that others can quick assume your role when you are out on vacation. Too many sales opportunities have been lost because support staff or managers did not know how to use the dashboard properly.

Finally, as you are constructing your dashboard to maximize your sales opportunities, always make sure that you have considered how you are communicating your new found information nuggets to others in the organization. Riva’s email integration will allow you to broadcast new opportunities at a moment’s notice if properly tied into the organization’s information flow.