CRM Success by the Numbers – Part 8: Golden Years
As your CRM implementation ‘grows up,’ there are a whole lot more numbers or CRM metrics that become important. You have to keep your system healthy as it becomes more ‘mature. You certainly don’t want your CRM getting ‘age spots’… or losing its ‘vision.’
As your implementation reaches a ripe old age, which can be as early as 3 to 5 years after the rollout (CRM ‘years’ are a bit like ‘dog’ years that way) you have to make sure it gets a regular physical to keep it in shape and make sure it doesn’t lose its ‘muscle.’ You should run all the necessary tests to make sure it is still providing the firm and attorneys with value and ROI.
CRM Metrics Add Up To Value and ROI
Here are a few numbers or CRM metrics that can help to identify this value:
- Numbers of relationships identified for business development
- Numbers of records categorized to help with targeted marketing
- Reductions in the amount of bounced e-mail communications
- Reduction in the cost of returned mail
- Numbers of key contacts added to mailing or event lists
- Numbers of industry codes added to key contacts
All of these things can help the firm save billable time and money and enhance marketing and business development. The return you will receive on any of these can allow the system to pay for itself in time. In fact, if your CRM system is doing even a few of these things – and none of the attorneys are actively campaigning to toss it out the window – it’s definitely ‘golden.’
