Essential CRM Metrics to Track in Freshworks CRM

It all started when my friend Patricia and I were at our favorite coffee shop, Tropico Café. Patricia worked in sales at a mid-sized tech firm, and one fateful Tuesday morning, she looked frazzled—as if she’d woken up in the Twilight Zone. “Our CRM reporting is a mess,” she muttered between sips of cold brew. Naturally, this led us down the rabbit hole of exploring essential CRM metrics, particularly in Freshworks CRM, because if you're gonna do it, might as well do it right, eh?

Conversion Rate

We had just ordered our second round of espressos when Patricia sighed. “I don’t get how our leads convert into customers and why it's so irregular.” Conversion rate, we both agreed, is like the avocado in an otherwise bland salad—it makes everything better. Tracking this in Freshworks CRM illuminates how well your leads are transforming (magic!) into paying customers.

With a click of a button—okay, maybe three or four—you can pull up the Conversion Rate report. Just head over to the “Reports” section in Freshworks, select “Conversion,” and voilà! You can see how poor Joe in your sales department fares against seasoned vet Alice. It’s insightful and somewhat punch-you-in-the-gut honest.

Customer Lifetime Value (CLV)

I remember when Patricia first learned what CLV was. We were walking our dogs, and she literally exclaimed out loud, "I see the light!" Dramatic, right? But knowing your Customer Lifetime Value can be that eye-opening. CLV tells you how much revenue you can expect from a single customer over time.

To track this in Freshworks CRM, you have to calculate the average purchase value, multiply that by the frequency rate, and finally by the customer lifespan—yes, it’s a mathematical Russian nesting doll, but trust me, it’s simpler than it sounds. These are automatically optimized within Freshworks’ analytics dashboard. Don't forget to pat yourself on the back after setting this up—numbers sound scary, but you did it!

Sales Cycle Length

Patricia and I once went on a road trip from San Francisco to Portland. Yes, it's a long drive, and it got me thinking about the sales cycle—long and winding. How long does it take from "hello" to "here's my credit card"?

In Freshworks CRM, tracking your Sales Cycle Length requires setting up stages in your pipeline. Click on the “Pipeline” view, and from there, you'll see how each deal dances from stage to stage. Patricia’s firm managed to identify that their leads lingered too long in the “evaluation” phase. A simple tweak—getting managers involved earlier—cut their sales cycle in half. Road trip vibes in a sales context, who knew?

Customer Churn Rate

We were back at Tropico Café—obviously creatures of habit—when Patricia admitted, "We lose customers like socks in a dryer." Ouch. The Churn Rate tells you how many customers are exiting stage left at an alarming rate.

In Freshworks CRM, you can track this by setting up a “Lost” stage in your customer pipeline. Check your lost customers periodically to identify trends. Maybe Linda from customer support needs more training, or perhaps there's a recurring product issue. Whatever it is, this crystal-clear visibility helps you pivot faster than a ballet dancer on caffeine.

Net Promoter Score (NPS)

Our final metric came up during a yoga session—stay with me here. As we were clumsily transitioning from downward dog to warrior pose, Patricia asked, "Why don’t we measure how likely our customers are to recommend us?" Enter the Net Promoter Score (NPS), your trusty litmus test for customer sentiment.

Freshworks CRM allows you to send out NPS surveys emphasizing ease and flair. Automate survey times and track responses like an eager beaver. Your NPS will tell you in no uncertain terms whether your customer base are promoters, passives, or detractors.

Conclusion

So there you have it. In the end, Patricia’s company saw significant improvements, and she’s now less likely to resemble a startled rabbit. We both learned that Freshworks CRM can provide these pivotal metrics, ensuring sleepless nights turn into peaceful, numbers-driven dreams. So grab your favorite brew (or yoga mat), dive into Freshworks CRM, and watch those metrics transform your strategy from frenzied guessing to data-driven mastery.