Sales and marketing professionals are always looking for ways to improve their processes and increase their sales. CRM software is a valuable tool that can help with this, but it’s important to understand how CRM works and the statistics behind its use.
In this blog post, we’ll take a look at some CRM usage statistics and what they mean for businesses. Stay tuned for more information on how you can use CRM to its full potential!
Introduction to CRM Software
CRM software has become an essential tool for businesses of all sizes. It offers a centralized location for storing and managing customer data, which can help improve customer satisfaction and boost sales.
If you’re considering investing in CRM software, it’s important to be up-to-date on the latest CRM statistics. Here’s a look at some of the most important CRM statistics for 2023:
The CRM software market is expected to reach $80 billion by 2025. (Source: Forbes)
65% of CRM users say that the software has improved their customer relationships. (Source: Capterra)
CRM software can help businesses increase sales by 29%.
30 Top & Best CRM Statistics
1. CRM systems are used extensively by 46% of sales teams. This number is estimated to grow in the years to come, as businesses become more and more reliant on customer data to drive sales growth. (Entrepreneur, 2018)
2. The global market for CRM software is estimated to be worth $120 billion by the year 2025. This number is expected to grow as businesses invest more in customer data and analytics. (Forbes, 2018)
3. 22% of salespeople have no idea what a customer relationship management system (CRM) is. This number is likely to decrease as CRM systems become more mainstream and integrated into sales processes. (Hubspot)
4. A CRM isn’t used by 40% of salespeople. Instead, they use spreadsheets and emails to hold sensitive customer information. This number is likely to decrease as CRM systems become more user-friendly and widespread. (Hubspot)
5. Salesforce, the global leader in CRM, found that 50% of sales go to the first 1/3 of companies who responded to a customer query. (Salesforce)
In order to be one of the top responders and increase your chances of earning that sale, it’s important to have a CRM system in place.
6. A study by HubSpot found that 13% of businesses listed investing in a CRM is one of their top sales goals for 2018. (HubSpot, 2018)
7. And it’s not just small businesses that stand to benefit from using a CRM system. Capterra found that within the first five years of business, 65% of organizations implement a CRM system.
8. Looking to the future, 87% of firms will use a cloud-based CRM system by 2021 according to Software Suggestions. This figure was just 12% in 2008 when firms were choosing on-premise solutions.
As you can see, CRM systems are becoming increasingly popular and essential for businesses of all sizes. Implementing a CRM can help you win more sales, serve your customers better, and boost efficiency across your organization.
9. Mobile customer relationship management (CRM) features can boost productivity by 14%.
10. Social CRMs are even more effective at boosting work efficiency and production, with an increase of 11%.
11. This means that 24% more sales professionals will meet their annual goals! With so many benefits like these to offer your company, it’s no wonder why most business leaders recommend implementing a strong mobile or social version first before any others.
12. CRM software can help businesses increase sales by up to 29%, enhance their efficiency in winning new customers (34%), and improve forecasting accuracy 42%.
13. Salesforce, the world’s leading provider of Cloud-based Marketing Automation solutions for small-, medium-, large-scale enterprises across all industries worldwide estimates that 74% of their clients saw increased access to critical client information when using a CRMS. (Sales Funnel)
14. In addition Nucleus Research conducted research on behalf of Software Suggestions which revealed improved data accessibility provided through these systems cut down average transaction cycles by 8–14%.
15. The impact of CRM on client retention is undeniable. In fact, according to a recent survey by Nutshell Marketing and Capterra among their users who were still using it for more than two years at the time when asked about its influence in increasing customer satisfaction levels found out that 47% said this was quite possible or very likely so there you have it!
16. The priority for improving sales funnels is high, with 48% of companies investing time and resources into it.
17. An even higher percentage – 75%-are focusing on more deals completion this year! Turning contacts into consumers isn’t just important to reach new clients;
18. turning old ones back in order to make them spend money again also falls within these priorities as does increasing revenue from existing customers (44%).
19. HubSpot’s research shows that increasing revenue from existing clients is a major marketing aim for 44% of businesses.
20. In order to do so, many companies are focusing on sales enablement with 37%.
It seems as though prospects have become easier targets than they were 3-4 years ago;
21. 40 percent feel it’s harder now because people don’t answer their calls or respond quickly enough!
22. The number of people who can make a purchasing decision is smaller than ever before. (HubSpot)
23. The process has become more difficult for business owners as they engage with numerous company decision-makers in the purchase procedure, according to 31% of organizations surveyed by HubSpot.
24. This means that closing deals have become challenging due to 30%.
25. In fact 13%, on daily basis you will have difficulty getting your point across because there are too many opinions going around about what should happen next – this makes selling easier but also leaves room open for mistakes!
26. The global healthcare CRM market was valued at $7.27 billion in 2017 and is expected to grow 28% over six years, reaching up into the 2020s decade with a projection worth of around$28Bn by 2026.(Source: Business Wire)
27. Salesforce has experienced an impressive 26% growth rate since last year when they generated revenue amounting nearly halfway through the first quarter of 2018; this success can largely be attributed due its top three products – Sales Cloud, Einstein Agency Toolkit(EAT) And Marketing Cloud
28. The CRM industry is a rapidly growing area of marketing and sales, with an expected annual growth rate in excess of 15%. (Forbes)
29. In 2017 Salesforce held a 19.6% global market share for this type of digital tool that helps companies manage their customer relationships inside out – but how does it compare against other providers?
30. In second place comes Oracle which had 7%, while both IBM Smart Systems’ total figure stands at 4%.
Conclusion- CRM Statistics 2023
Conclusion paragraph: CRM Statistics show that businesses who use a CRM system achieve customer retention rates of up to 95%.
A CRM can help you manage your customers’ data, interactions, and purchase histories so you can provide them with better service.
If you want to increase customer retention and boost sales, consider using a CRM system. Want to learn more? Contact us today!