What is response rate in SAP CRM-ANA - CRM Analytics?

SAP Term: response rate

• Component: CRM-ANA

• Component Name: CRM Analytics

• Description: Percentage of customers that responded to a marketing campaign, relative to the number of customers addressed by that campaign.

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• Key Concepts: 
  Response rate is a metric used in CRM Analytics to measure the effectiveness of customer service. It is calculated by dividing the number of responses to customer inquiries by the total number of inquiries. This metric helps to identify how quickly customer inquiries are being answered and how well customer service is performing. 
  
  How to use it: 
  To calculate response rate, divide the number of responses to customer inquiries by the total number of inquiries. This can be done manually or with a CRM Analytics tool. The response rate can then be used to measure the effectiveness of customer service and identify areas for improvement. 
  
  Tips & Tricks: 
  It is important to track response rate over time in order to identify trends and areas for improvement. Additionally, it is important to ensure that customer inquiries are being answered in a timely manner in order to maintain a high response rate. 
  
  Related Information: 
  Response rate is closely related to customer satisfaction, as customers expect their inquiries to be answered quickly and accurately. Additionally, response rate can be used in conjunction with other metrics such as average resolution time and customer satisfaction score in order to gain a more comprehensive understanding of customer service performance.