Over the last two decades, the CRM industry has evolved into a thriving global phenomenon. In 2016 alone, CRM software totaled $36 billion in estimated value. In addition, its value is projected to exceed $40 billion by the end of 2017. That’s not all – here are some other surprising facts you probably didn’t know about CRM.
1. 87% of businesses use cloud-based CRM.
Cloud adoption is constantly on the rise, and the employment of on-premises solutions is quickly becoming obsolete. In 2008, 88% of businesses employed on-premises solutions, but today, only 13% do – the other 87% use cloud-based solutions.
2. 65% of companies who use Mobile CRM meet or exceed their sales quotas. (Innoppl Technologies)
Mobile CRM provides salespeople with immediate access to pertinent data anytime and anywhere from any device. By having information at their fingertips, salespeople can spend less time searching for contact information and more time selling.
3. A properly implemented CRM system can yield an ROI of 245%. (Forrester)
According to research conducted by Forrester, if a CRM system is implemented correctly, businesses can see a return on investment after only four months. Commercient’s SYNC, an app that integrates ERP and CRM across the enterprise, estimates that their apps can get you live in days with enterprise-scale CRM and can boost your ROI a further 500%.
4. 30% of businesses integrate their CRM with their ERP. (Connecting Software)
It makes good sense. Once your front and back-end processes are automated, the time-consuming manual data entry is obsolete. Processes will be seamless, and costs will be reduced. CRM to ERP integration is Commercient’s specialty, so talk to us about how we can save you money and time.
5. 74% of businesses using CRM report better customer relationships. (Software Advice)
With CRM, businesses can better communicate with their customers, resolve customer issues more easily due to quicker response times, enhance customer loyalty, and offer customers what they really need. It can help you improve customer experiences and build stronger customer relationships.
6. 22% of salespeople still don’t know what CRM is, and 40% still use informal methods like spreadsheets and email programs to store customer data. (HubSpot State of Inbound)
Many salespeople misinterpret the value of CRM and think that it keeps them from the main task of selling, but CRM can help salespeople in so many ways. It can help salespeople be more productive, help them to prioritize follow up activities, increasing their mobility, and enable them to spend more time with customers.
7. 85% of companies that buy CRM software to automate sales do not pick the right tools because they fail to define business objectives or develop processes for meeting objectives. (Gartner)
Before adopting a CRM software solution, business objectives must be clearly defined; moreover, as a business, you must understand customers’ needs and decide how ready you are to meet those needs.