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A CRM system is a tool designed to help companies manage their interactions with customers. With CRM software, business leaders can track customer relationships, personalize interactions, and collect valuable insights.
Today, the CRM industry is growing rapidly and is expected to reach a value of around $128.97 billion by 2028. This represents a compound annual growth rate (CAGR) of 12.1% over the next seven years.
There are many reasons for this rapid growth, but some of the most important include the increasing focus on customer experience and the growing need for data-driven decision-making.
As businesses become more reliant on technology, the demand for CRM systems will continue to increase.
Key CRM Stats
- The global CRM market is expected to be worth $52.64 billion by 2020.
- The CRM market is expected to grow by over 245% by 2028, according to current estimates.
- The global CRM market is expanding at a 12-percent annual rate on average.
- Growth in 2019 was higher than the average for CRM technology use; it was about 18 percent.
- By 2020, the mobile CRM market is expected to be worth $15 billion. Almost nine out of ten businesses say that CRM helped them meet their revenue goals.
- Almost half of CRM users say that their customer satisfaction rate has been greatly impacted by CRM technology.
- The global CRM market is expected to reach $128.97 billion by the year 2028.
- After just two or three bad experiences, 92% of customers say they’d leave a company.
- By 2022, 85% of marketers believe that analytics will play a significant role in decision-making.
CRM Adoption Statistics
A company’s sales staff (80%), marketing staff (46%), and customer service staff all make use of CRM when it is implemented (45 percent ).
91% of businesses with ten or more employees use a CRM to manage customer conversations.
Customer relationship management (CRM) users reported a 17 percent boost in job satisfaction.
In the opinion of 64% of businesses, CRM technology has a significant impact.
Contact management (94 percent), tracking integrations (88 percent), and scheduling/reminders (86 percent) are the most requested CRM features (85 percent ).
CRM is used by 82% of businesses to track sales.
Sales representatives and executives report a 56.9% improvement in communication quality after implementing CRM.
In the first five years of business, 65% of companies purchase a CRM system.
Digital marketers’ reliance on AI has grown by a factor of 190 in the last two years.
More than two-thirds of salespeople believe that CRM implementations fail if they don’t have adequate customer reference data.
By the year 2021, 70% of companies expect to spend money on email marketing.
CRM Benefits Statistics
Almost three-quarters of businesses (72%) say that CRM helps them gain better insight into their customers.
CRMs can boost conversion rates by as much as 300%.
Increased customer retention rates can result in a profit gain of up to 85%.
It’s possible that CRM systems could boost sales by 29%.
In a survey of CRM users, 74% said that their CRM had given them access to vital information about their customers.
The sales cycle can be cut in half by as much as 8-14% with the help of better data.
According to 47% of respondents, CRM had a significant impact on customer satisfaction.
Customer relationship management (CRM) can help businesses save 23% on lead costs.
According to our research, using CRM software can improve report accuracy by 42 percent.
CRM has a positive effect on work performance, increasing employee productivity by 15%.
CRM Features Statistics
More than seven out of ten CRM users prioritize ease of use over features.
Most CRM users believe that data synchronization is the most important problem.
Only half of the CRM features that companies pay for are actually utilized.
Almost four out of every ten CRM users only use half of the system’s capabilities.
ROI Benefits Experienced by Businesses Using CRM Systems
Every dollar invested in a well-implemented CRM system can yield a return of $45.
The average return on investment for CRM is $8.71 for every $1 invested.
It takes, on average, 13 months to see a return on your investment in CRM software.
Thirteen percent of companies say that one of their primary sales objectives is to purchase a CRM system.
Email marketing has a return on investment of 360%. CRM can boost a salesperson’s earnings by up to 41%.
CRM Technology and Customer Experience Statistics
68% of customers are likely to participate in online chats and forums.
In social selling, 78% of salespeople outperform their competitors. Most businesses tweet at least once a day, according to a recent study.
Twenty-one percent of customers are active social media users.
Social CRM can increase customer retention by up to 27%..
In the last two years, Twitter interaction has increased by a staggering 250%.
Digital sales increased by 18 percent, and 14 percent of buyers now rely on social media for their purchases because of the COVID-19 pandemic.
8 percent of the increase in productivity can be attributed to social CRM functions.
64% of Twitter users expect a response from companies within an hour, on average.
Businesses’ use of social media marketing rose from 63% in 2018 to 83% in 2020.
76 percent of customers require multiple channels of communication depending on the context.
Social CRM Statistics
73% of customers say they are likely to switch brands if they don’t receive consistent service.
More than two-thirds of customers believe that knowing about a customer’s service history is an important skill for customer service representatives to have.
More than half of businesses believe CRM can help them improve collaboration across departments.
52% of loyal customers are willing to spend more money in order to support their favorite brands.
During the pandemic, 88 percent of service teams discovered technology gaps. Following the pandemic, 81% of companies increased their digital efforts.
87 percent of digital solutions are expected to be hosted in the cloud by the end of 2021.
47 percent of CRM users reported that customer satisfaction and retention improved significantly.
Those who use CRM software see an increase in sales revenue of up to 45 percent.
Cross-selling and upselling revenue can be increased by 39% when using a CRM system.
For luxury services, customers are willing to pay anywhere from 13 percent to 18 percent more.
After receiving a more personalized experience, 49% of customers made an impulse purchase.
The vast majority of satisfied customers are eager to share their experiences with others.
More than a third of dissatisfied customers will tell at least 15 people about their bad experiences.
At least eighty percent of consumers place an equal or greater value on a company’s customer service than they do on its products or services.
Customer interactions will be conducted online 60 percent of the time in 2021, with 40 percent occurring in person.
84 percent of customers say that if a business treats them as a person rather than a number, they are more likely to be loyal to them.
As many as 84 percent of consumers are more loyal to companies with strong data security controls.
More than nine out of ten Millenials and Gen-Z customers are willing to put their trust in companies with their personal information if they can see how it benefits the user experience.
CRM Challenges Statistics
Only 28% of organizations are happy with their tools for creating a shared, centralized view of customers across business units within organizations..
In the next few years, the use of artificial intelligence (AI) in CRM is expected to grow by more than 250 percent.
Due to a lack of CRM adoption, 32% of sales reps spend more than an hour a day manually entering data.
63 percent of companies have a CRM-related issue on average.
There are on average 69% failure rates in CRM implementations due to lack of planning for the entire implementation process.
Every year, 550 hours of time are lost by sales and ad departments due to lack of data.
22% of salespeople are still unsure of what a CRM actually is.
CRM is only used on a daily basis by about half of sellers.
40 percent of salespeople still use informal methods like Excel spreadsheets and email applications to store customer data..
The sales process must be coordinated by 72% of sellers, who must keep more than one display or window open at any given time.
No CRM business strategy (48%) and no process change (50%) are the most common risk factors for CRM failure (45 percent ).
85% of salespeople admit to making potentially embarrassing mistakes due to CRM data that was inaccurate.
Mobile CRM Statistics
A 14.6% rise in sales productivity is attributed to the use of mobile CRM solutions.
Companies using mobile CRM are more productive, meeting 65 percent of sales quotas, compared to only 22 percent of sales quotas for companies without mobile CRM.
Most companies use multiple devices to manage their customer relationship management (CRM).
According to 61 percent of organizations, mobile CRM is now a common method of establishing a relationship with their customers.
More than a third of businesses in Europe do not use mobile CRM.
In 2020, 54% of shoppers will shop and browse on their mobile devices on Cyber Monday.
The use of mobile CRM increased productivity for half of the sales teams, according to the study.
57% of customers are less likely to recommend a business because of a bad mobile website design.
50% of customers will stop visiting a website if it isn’t mobile-friendly, even if they like the business.
Mobile devices now account for 52% of all internet traffic.
CRM Sales Statistics
CRM software can boost sales by as much as 29 percent.
55% of sales reps say that the most important feature of a CRM is its ease of implementation.
An increase in sales productivity of 34% is possible with CRM systems.
Improved CRM sales funnels are cited by 48% of companies as a top priority for this year.
A successful CRM implementation can lead to a 29 percent increase in sales.
Up to 34% more sales productivity can be achieved this way.
By using CRM, sales forecast accuracy is increased 42 percent.
According to 69 percent of businesses, converting leads into customers is their top priority in marketing.
Small Business CRM Statistics
A total of 33% of small businesses make use of online CRM software. A CRM system is expected to be purchased by 13% of small businesses.
Most CRM users agree that their revenue targets can’t be met without it.
As many as 80% of customers are willing to support businesses that offer personalized customer service.
Salesforce had a market share of 19.5 percent in 2020, making it the most popular CRM.
Salesforce is valued at $177.28 billion as of this writing.
In comparison to SAP, Salesforce is twice as large. A customer base of 150,000 has a long-term relationship with Salesforce.
A total of $27.98 billion in revenue was generated by SAP in 2019.
SAP has a 4.8 percent share of the CRM market as of 2021.
As of 2018, SAP was the second most popular CRM system on the planet, after Salesforce.com.
Over the last few years, SAP has grown to serve over 425,000 clients in 180 countries.
CRM is more important than ever for businesses to be profitable and successful. CRM technology is expected to account for the majority of enterprise software expenditures through 2022.
Hand-entering data into spreadsheets is quickly going the way of the dinosaurs. As long as you’re still using these methods, it’s time for you to switch your attention to CRM. As a result of this, your employee’s productivity will be significantly improved.
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