Five steps to implementing goals in Microsoft Dynamics CRM

In the book Good to Great, author Jim Collins introduces us to the concept of the economic denominator as a tool for measuring a company’s success.  An economic denominator for your company can be defined in many different ways. In practical terms, the economic denominator is a metric which measures a company’s performance in relationship to its goals.

 

As a starting point, you must choose a customer relationship management (CRM) system which incorporates goal tracking.  Microsoft Dynamics CRM is one such system which features a comprehensive goal tracking component.  This is an ideal platform to track performance for individuals in your organization and allows you to identify and track the key activities or economic denominators.

 

Follow these steps for successfully tracking your goals in CRM: 

 

1.     Define and test your goal attributes

a.     Are your goals quantifiable?

b.    Are your goals time bound?

c.     Are they targeted?

d.    Is there accountability for meeting goals?

 

2.     Define your economic denominator

a.     Keep it simple.  Finding an economic denominator takes a great deal of reflection and you may never be quite satisfied until you test the results and effects on your company.

b.    Aim to find the metrics relevant to each department.

c.     For each company or department ask which factor has the single most impact on your company performance.  This is an indication of the economic denominator for that area.

 

3.     Below are common metrics which can be tracked using the Microsoft Dynamics CRM goal module. 

a.     Sales

i.      Total sales

ii.     Number of new sales

 

b.    Activities

i.      Number of calls, appointments

ii.     Number of demos

iii.    Number of quotes, new opportunities

iv.    Number of service calls

 

c.     Cases

i.      Number of cases resolved

 

4.     Tracking the overall results
In Microsoft Dynamics CRM you can aggregate the results of a team in a single company or department.

 

5.     Tracking goals in Microsoft Dynamics CRM
Once you have identified your metrics and agreed that they represent the best traceable measure for your organization’s success, start identifying the CRM data to be used in goal tracking.

 

To learn more about implementing a CRM-based goal tracking system in your organization, please contact us at info@toplineresults.com.