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    CRm stastics

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    6 views9 pages

    CRM Stasctics

    Uploaded by

    Ravi Susmith
    CRm stastics

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 9
    & smattvizgenive ome Reviews Bythe Numbers ewe Cone & soawizgeni sre Reviews BytheNumbere News ContactUs ‘Amazon Starts Small Business Academy 31 Sizzling CRM Statistics to Help Your Business Soar ‘Yetanother day tthe cfc, es steady 1pm and you stithaveri ished entering al your peeueumeuee cousin customers data nto that confounded Excol table. Youre drowning in sles quotas and you can {eolthe judgmental looks your managers are throwing your way, si this whole mess is you faut Yucannow schedule employee sis onlin and ognize contracts na mater of minutes Ph sing enterprise contrat management tol, Similarly, the development of CRM customer ‘GooleSerch Trends Deena Trade or ‘lationship management systems has made managing customer dota. communicating with cther teams, and eeating effective sales strategies much easier. Unfortunately, ‘implementing CRM systems doesnot always lead to success stories ‘Check out our CRM statistics blow to improve your business and avoid the stress of managing your eustomer data manual KS | ORM Statistics - Editor's Choice « +n 2008, 12% ofthe businesses that used CRM used a cloud-based CRM system. By 2017. that Showstwcoe gh ouner Roper tare figure had increased to 87%. Gptmen een + CRM reverues are expected to reach over $60 illon in 2025. ae j ORM Market Size Statistics 1. The ize ofthe global CRM market was around $48.2billon In 2018 (Garin) ‘According to data trom Gartner's CRM market analysis, the market value ofthis software was Most CRM stats indicate that this trend will continue, especially because more and more companies ace racing to implement CRM order to stay competitive as wel sto save tine and money. 2. The global CAM market grew by 1.6% n 2018, (Garin) Gartner's CRM research onthe state of the markot shows tha the glabal revenue ofthe CRM ‘market grow by 15.8% in 2018, Around 72.8% of otal CRM spending was on SaaS'Sottware asa Service) Sas refers ta method ot software dalvery in which a sofware is accessed one ther than being installed onndvidal computers, SaaS's expected to grow to 75% of total RM spending during 2018, 5.07% of US businesses with more than 10 employees now use CRM. (cre Magazine) ‘As CRM Magazine reports. the overwhelming majority of American businesses that employ 10 oF ‘more people now use CRM, This 8 good signifier that CRMs now becoming a must-have forall ‘medium-size or large companies. asitcan greatly reduce costs andimproveeficienc. 4, Predictions suggest that the socal CRM market wil grow to S10 ilion in valu in 2019, (Thomson Data) Social (RM statistic provided by Thomson Data roveal that the socal CRM marketis predicted to each 10 illonn size this year. Social CRM represents an integration between GRM and socal ‘media platforms such as Facebook, Instagram, or Twitter in order toimprovebusinesses! communication with customers and anticipate theirneeds 5.1n2008,12%ofthe businesses that used CRM used a cloud-based CRM system. By 2017, that figurehad increased to 87%. sm) ‘Tho noxt stop In RK evolutions cortanly cloud-basod systoms IBM reports that in 2008 most businesses that used CRM systoms ~ 88% of them ~ operated these systems on-site, Now, almost allot these services are being transferred tothe cloud, which alows users to access them remotely. As aresul, by 017 67% of companies that used CRM had transferred these systems to the cloud, (ORM Adoption Rate Statistics 8 In 201725 3%. of participants surveyed by C30 Insights agreed that their CRM system had significant improved the productivity of their sales team. (cs0 Insights) ‘study conducted by C50 Insights indicates that. n 207, 25:3 of respondents agreed that thelr. (ORM system significantly boosted the productivity of their salespeople Furthermore. 72.4% somewhat agreed with thisstaterent, while 30.5% disagreed, Nearly S0% ofthese teams ‘admitted their operations equired majr redesigns or improvements, 7.For 18% af companies, Investing ina CRM systems the top sales priority for 2018. (Huvspou Hubspots exellent State of the Inbound CRI report from 2018 showcases what companies ‘marked as their op sales priorities fr 2018. nthe report onl 18% of these companiesidentitied Investing ina CRM a their top priority. This should come as no suprise since most companies prortize closing more deals, but this datas stil an indication that many companies dort recognize GRM asa crucial asset yo. 8.65% of companies start using a CRM system in ther first five years of business. (Captera) ‘ata rom 2015 provided by Capterra shows that ove half of companies ~ 65% tobe precise ~ implementa CRM eystem within thelr fie five year of doing business. 8.27% of sales professionals spend over an hour a day on data-entry work. (Huvspou many business, especialy in sales there's one golden rule we should never forget: times mane. ‘earing thin mind, HubSpots CRM statistics reveal tat 27% of salespeople use over an hour of ‘thelr office time every day on data entry, which emphasizes the needfr aCRH, Since every ‘minute theyre not sling is a potential loss of money proper CRE Implementation allows sales professionals o focus more on sles and generate more profit for their companies. 10. Sales reps spend only 17.9% of their time on CRM systems. (Forbes) Forbes report that sles representatives oly use 179% oftheir worktime working with CRI systems, Over half that ime (is spent handing spreadsheets related to CRM management Inorder for Rt be used etticinty, more time shouldbe devotedto Is proper use. To put things into perspective, nearly two-thirds (64.8%) of sales reps timols spent on ativtos that do not generate revenue. This indicates that salespeople do have time that could be devoted to cffilent ORM use Only 48.7% of companies reported an adoption rate above the desired 90% in 2018, (cs0 insights) Adoption rates for CRM are one ofthe main challenges in CRM implementation and one ofthe ‘main reasons ORM projects fal, Without high adoption rates and traning, these systems can ‘become a hindrance instead of helping your business. na 201 study by CSO Insights, 4.7%of companies that used CRM had an adoption ratehigher than SO. 12. General ORM adoption has increased from 61.6% in 20TS to 67.8% in 2018. (cs0 nights) {CRM adoption statshave generally increased, with the percentage of companies that havo.an adoption rate over 75% rising rom 61.5% 1967.8% over afve-year period 15. In 2016, 22% of sales professionals werent sure what CRM wa (Hubspot) Hubspot revealed a surprising and worrying fact in its 2018 State of Inbound report: Around 22%, cof surveyed sales professionals werent sure what ORM was. This certainly amar obstacle on the already bumpy road to full RH implementation. 14. For 54%: of salespeople, the biggest obstacle to obtaining CRM software sits cost. (Hubspot) (One ofthe main aitficutes to obtaining CRMs the most obvious one: money. Current CRM vendor ‘trond show that monthly pricing ranges from $30 to $100 por user which can really strain company budgets. 15. 45% of surveyed organizations used CRM to store customer data in 2016. (Hubspon) ‘As por HubSpots 2016 research, ony 46% of respondents said thelr organization used CRM to store customer and lead data, This sa significant jump frm 2015, when 23% of organizations used CRM for data storage, Unfortunately, as CRM usage fr data grew, sod reliance on “traitonat tools suchas Microsoft Excel. The we of informal tools for data storage rose from 24% a 40% inthe same time prin. 16. A third of CRE users spent between three and five hours weekly using CRM tools. (Linkedin) Unkodis State of Sales report on CRM tronds from 201 als provides usful data onthe amount cf time CRM users devote to these tols on a weekly bass, One-third of CRM users spend from ‘three to fve hours per week using CRM, while 24% spend more than 0 hours per wesk 17. 1n2016, 80% of respondents claim they implemented their CR 18 months or less. (coptera) ‘The te required to propery implement RM systems can vary greatly. Considering thatitcan. in ‘some cases, take years to fully implement. t's often the diference between success and total cisaster. Capterr’s user esearch from 2018 shows that things were not that grim ater ll- most respondents sald they took 18 months or less to implement their CRM. Statistics on CRM Effectiveness 18. Companies that use CRM successfully have improved their sales by 28%, (Salesforce) Data onthe effectiveness of RM tools can be hard to find, This is because there are many ‘measurable factors that cause these tools to itherfailor succeed. Te atest and most ‘trustworthy data comes trom Salesforce a major player inthe CRM make. 2015, was reported that property using CRM can greatly improve busines effectiveness. Salesforce stats show that successful CRM Implementation can boos sales by 28% Inerease sales productivity by {34% and sharpon sales forecast accuracy by 42%. 12. The CRM failure rate was between 18% and 69% in 207 (cto) ‘another dificult statistic to pinpoints the rate at which CRM projects fall Several studies conducted over the past two decades provide wildy dtferent results asa consequence of itferent methodologies and terminologies used in esearch. As result diferent researchers put ‘the failure rate of CRM between 18% and 68%. we ake the average resus ofthese reports, we ond up wth failure rate of around 30%. for CRM projects. 20.By using CRM, customer retention and satisfaction rates increase by 47%. (Captera) Surely some ofthe key stats in demonstrating the Importance of CRM when running a sales business are customer satistaction and retention Customer retention - the company ably to oop its customers and inspire bran loyalty -Iscrucal when evaluating the etfoctivoness of your (ORM. Capterareports that RM software boosts both retention and satisfaction rates by 47% ‘These impressive stats are sure to encourage further growth ofthe CRM market 21. Conversion rates can rise by upto 300% using CRM. ism [Converting loads or potonta customers into buyers the broad and butter of any sales busines. ‘yes proper CRM implementation can lead to an increase ln conversion ates of up to 300%. 22, Customers spend between 20% and 40% more if they e engaged by a company using CRM, 2017 data shows, (Linkedin) ‘As resoarch conducted by Cloudswave suggests, using CRM in slos can increase the amount of purchases customers make with your company. When a company that uses CRM engages a customer, they are key to spend 20-40% moce on their next purchase wit the same company. 23.2014 data indicates thatthe ROI for CRM is $8.71 per SI spent. (Nucleus Research) ‘The stats provided by Nuctous Research concerning Rot retum on investment) suggest that Investing in CRM wl pay of. For every $1 you spend, youmake $8.71 back, Thats ifthe CRMs correctly implemented of course, This ranslats Int an impressive 77% ROl 24, 34.5% of sales professionals say that CRM tools havea significant impact on their ‘companys bottomline. (Linkedin) ‘Among those surveyed in Linkedtns 2016 Stato of Sols report approximatoly a thirdof respondents sald that using CRM toot wasimportant fr thir business, Another 236% descibad ‘thelr usage of CRM tools as impactful 25. Only 22% of companies using non-mobile CRM meet their sales quotas compared to 65% of ‘those that use mobile CRM systems, (ianopp) Mobile CRM leads the way. Just a cloud-based CRMs gaining momentum the need for flexibly and ease of access hs ed to the increased popularity of mobile CRM, which refers to CRM tools you can acess ram your phone, abet o other devices. Not only is mobile CRM popula, Its.also ‘fctive, Research y nop shows that 65% of companies that use mobile CRM meet thelr ‘quotes, compared to 27% of these that use non-mabile version. Switching to mobile and cloud base systemsis the new CRM trend, 26. Customer satisfaction willbecome the most important factor in business by 2020. (Waker) -.reporton the future of sales published by Welker predic that customer satisfaction wil ‘become akey tfereniatr as oon as nest year. According tothe report, customer satisfaction willsurpass price and quality n tems of importance by 2020 Results from tis report point out ‘that 85% of customers are wiling to pay 25% more for a better customer experience, State of the CRM Market _27Salestoree is the undisputed king ofthe industry with over 19% of the CRM market share (Forbes) Salesforce without a doubt the biggest player inthe CRM market. As Forbes reports Salesforce ‘aw has over 1% ofthe market. boasts more than twice as many sas as SAP. the second= largest ORM company, and three times more than Orace in third place, 28, Saletores snd Adobe grew fastr than the overall CRM market in 2017. (Garin) Rescarch conducted bv Garner onthe stato ofthe markt reveals that Salestorce and Adobds ‘growth was larger than that ofthe total CRM marketin 207 Salesforce grew by 23.7% Increasing ts revenues from $78 bili in 2017 to $9.4 bllon in 2018, Meanwhile, Adobe grew by 2.7% witha revenue increase fram 52 blion to $2.4 blfon nthe same period 28 Salestorce has announced thats it's aiming for $60 lion in revenue by 2084 (Seeking Alpha) Herds another stat about Salesforce the market leaden CRM too development and sales. In 2018 Salesorcels CEO announced that the company was planning on reaching $20 bition in revenues by 2020, 40 bilion by 2028, nd $60 bilion by 2084. To achieve this, Salesforce would have to gow by 12% annually fr 18 years ina ow. 30. Global RH revenues are expected to each over $80 billon in 2025, (Grand View Research) ‘The global CRM market has shown remarkable growth and overall development in recent years If (ORM trends continue andthe market keeps growing atthe same pace, its worth wilreach $8.3 bition by 2025. 31. Eastern and Western Europe are the fastest-growing regions inthe global CRM market. (Forbes) (ORM statistic rom 2019 show that, at a regional eve, the fastest-growing parts ofthe weeld are Eastern and Western Europe. Easter Europe asa 187% grow ate, Western Europe ts at 7.5%, tile North Americahas a growth rate of 5.2%, Frequently Asked Questions What does a CRM do? ‘CRM (customer relationship management) isa system that manages and complies all customer

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