By now, all companies are aware of the immeasurable benefits that a Customer Relationship Management software can provide to any business. It doesn’t just make an impact on the company’s complete customer service experience, but also takes care of important aspects such as marketing and sales.
While the benefits of a CRM are manifold, the challenge lies in the deciding of whether your company will actually benefit from using such a software, and if yes, then how much?
Since it is always a good idea to do the research in numbers and get all the facts right, here are some important CRM statistics that will blow your mind!
Importance of a CRM for Sales
When a company pursues a customer using a CRM system, that customer is likely to make purchases of 20% to 40% more with the same company. (Source: Cloudswave)
65% of sales reps who use mobile CRM have successfully met their sales quotas. But on the other hand, only 22% of reps who use a non-mobile CRM platform could meet the same targets. (Source: Innoppl Technologies)
With the addition of social networking and mobile access, sales reps were able to increase productivity by 26.4%, allowing them to turn more leads. (Source: Nucleus Research)
Using a CRM can lead to sales conversation rate improvements of over 300%! (Source: Cloudswave)
A CRM is widely used for nurturing leads and according to research, nurtured leads make a 47% bigger purchase than leads that aren’t nurtured. (Source: The Annuitas Group)
Interesting Marketing CRM statistics
Without a central repository, 30% of marketers feel that different data sources are the reason they aren’t able to gather useful insights from their clients. (Source: Cyber Sphere Security)
A CRM software can greatly help in cutting costs, and using one can lead to reduced marketing costs by 23%. (Source: Cloudswave)
With the use of marketing automation, 80% reps said that their number of leads has definitely increased, and 77% said the number of conversions has increased. (Source: VB Insight)
A CRM integrates great features for email marketing. Email marketing also has 2X higher ROI than trade shows and networking. (Source: Marketing Sherpa)
Amazing statistics for CRM and customer service
A CRM is primarily used to improve customer service, which is great as according to studies, 3 out of 4 consumers claim to have spent more money with a business because they had a positive customer experience. (Source: Global Customer Service study)
In fact, 82% of clients stop purchasing from a company if they feel the company doesn’t care about them. (Source: The Rockefeller Corporation)
According to a poll, 47% of companies that use a CRM platform claim to have better customer satisfaction since the adoption of the software. (Source: Capterra’s CRM Infographic)
It is a known fact that selling to an existing customer is always easier than selling to a new one. This is why with the use of a Customer Relationship Management software, companies can have an improved customer retention rate of as much as 27%. (Source: Trackvia)
74% of CRM users have claimed that using a CRM system has given them better insight into customer data. (Source: Software Advice)
CRM facts that will impress your boss
For bosses who still refuse to invest in a CRM software, the CRM industry is only on the rise and shows no signs of slowing down. In 2008, it was forecasted that by the year 2016 CRM spend will reach $18 billion. In a recent study, the prediction shows that it is now expected to grow more than a whopping $36 billion by 2017! (Source: Gartner)
If you are wondering about the increase in revenue for your business, then using a CRM system can increase your revenue by as much as 41%! (Source: Trackvia)
The cost of investing in a CRM is high, but the average ROI for a CRM system is $5.60 to $8.71 for every dollar spent. (Source: Nucleus Research)
47% of CRM users want on increasing their CRM investment for customer service management, 42% want to increase it for marketing automation, while 39% for CRM investment for social media monitoring. (Source: Media Bistro)
Knowing the facts and figures before you invest in a CRM software is important, as it can help you find out to what extent the software is really beneficial to you. It not only helps in increasing efficiency, but also increases revenues, team productivity and most of all, sales!