CRM (customer relationship management) software has become an inseparable part of today’s business. From managing your deals to nurturing your clients, CRM plays a vital role at each step of your business.
The CRM industry has shown tremendous growth at a staggering rate, and each year more interesting CRM statistics are reported based on CRM trends.
So, this article contains an ultimate list of CRM statistics to help you understand how businesses are benefiting from implementing a CRM.
CRM market growth statistics
The CRM market share has been growing consistently, and these CRM statistics speak for themselves –
- According to fortune business insights, the global CRM market size valuation is expected to reach $145.79 billion by the year 2029. (Source)
- It is expected to show an exhibiting CAGR of 12.5% in the coming years.
- Moreover, as per industry estimates, 91% of organizations with more than 10 employees in their workforce employ CRM systems. (Source)
This also hints that small-sized businesses are major CRM users.
These stats are compelling enough to estimate the bright future of the CRM industry.
Now that we know about the market growth of CRM, let’s take a look at the implementation of CRM statistics.
CRM usage statistics
As businesses start to scale their operations, they need to implement software that will help streamline the business processes. Based on the growing requirements, businesses can choose a CRM software that provides various features.
So, first, let’s take a look at CRM adoption statistics –
- 65% of companies implement CRM in the initial five years for the business.
- As per a report by the state of sales by LinkedIn, it is observed that 64% of companies consider CRM technology to be efficient or very efficient. (Source)
- It also states that 23% of small business organizations have implemented CRM. Moreover, the percentage increases to 44 in medium-sized organizations.
- In addition to this, teams using CRM have shown 17% more job satisfaction.
- Companies also claim that 81% of executives think that the use of CRM will expand beyond sales activity in the next 3 to 5 years.
- As per reports, around 82% of companies surveyed said that they are using CRM software for process automation and sales reporting. (Source)
- Moreover, 92% of businesses report that CRM played a vital role in achieving their income goals.
- In companies that have implemented CRM, the sales teams use CRM the most (80%), followed by marketing teams (46%) and customer support teams (45%).
- Talking about the most used CRM features- Contact Management is used by 94% of users, followed by integrations by 88% of users, and meeting scheduler is used by 85% of users.
- Nucleus research revealed that every dollar spent gives an average return of $8.7 in 2021. (Source)
- Though this number hasn’t been updated since then, Dynamic consultants commented on the transformation of CRM in 2021 and calculated an increase in average ROI to $30.48 on every dollar spent.
Benefits of CRM statistics
Want to know whether CRM is the right tool for your business or not?
Then check out these benefits a CRM software has to offer-
- Companies using CRM experience increased conversion rates up to 300%.
- It is observed that accessing improved data using CRM reduces the sales cycle by 8-14%.
- CRM has major contributions to customer retention. This leads to profits ranging from 25% to 85%.
- As per reports, 18.79% of companies say CRM solutions help them get better access to customer data. This helps the companies deliver a more personalized customer experience. (Source)
- It is also observed that a CRM system enhances employee productivity by 15%
- According to Forbes, 72% of customers won’t engage if the messages are not personalized.
- According to nucleus research, due to improved data accessibility by CRM, the sales cycle has become sorted, reducing the sales cycle complexity by 8-14% on an average. (Source)
- Research claims that CRM applications can increase sales by 29%.
- Moreover, it can also improve the sales forecasting accuracy by 32%.
- At the same time enhance sales productivity by 39%.
In addition to this, an increase in customer retention, improved lead management, and efficient customer service were some of the key areas that were positively affected by CRM implementation.
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Statistics on CRM sales
Implementing a CRM can certainly have a positive impact on a company’s bottom line. So, check out these interesting statistics on the impact of CRM on sales –
- Here’s what Forbes says- 62.8% of salespeople spend time on sales technology, out of which 33.2% of the time is consumed by sales-related mailers. (Source)
- 55% of sales reps state that the most crucial CRM feature is its ease of use.
- Users have even seen a 100% increase in their sales pipeline after successfully implementing CRM.
- A well-implemented CRM system can have a return on investment of $45 per $1 spent.
- Reports say, though salespeople are considered top users of CRM technology, they only spend around 18% of their time on CRM insight.
- CRM tools can improve sales by 29%. (Source)
- CRM increases sales forecast accuracy by 42%.
- In fact, 92% of users say that CRM is essential to their revenue goals.
Hence, implementing the right CRM for your business will yield maximum results after considering the above figures.
Statistics on Cloud-based CRM
If you want a centralized database for all your leads and deals, then a cloud-based CRM platform is the right choice for you. Below are some exciting statistics on cloud-based CRM –
- Clouds 247 research says that around 60% of companies plan to employ cloud computing systems in the coming months.
- Cloud CRM statistics reveal that only 12% of companies used cloud-based CRM back in 2008.
- By 2020, 87% of companies started using cloud-based CRM. (Source)
- 72.9% of CRM spending was on SaaS. (Source)
- Moreover, a study reveals that 94% of companies reported impressive online security improvements after switching to a cloud-based system.
Challenges of CRM statistics
Every CRM software has its own pros and cons. So, when you implement a CRM software that’s complex to use and doesn’t provide any assistance, you are certain to face these challenges –
- Forbes reports that 48% of sales leaders say their CRM system doesn’t meet their needs. Nearly one-third complained that their customer data is incomplete, out of date, or inaccurate. (Source)
- Reports also emphasize that 90%, which is the majority of the businesses, don’t fully take advantage of CRM solutions.
- There’s a statistic that says 32% of users spend more than 1 hour on manual data entry.
- 63% of companies struggle with a CRM system-related problem.
- Also, there’s a report that says 22% of salespeople don’t understand the CRM concept.
- 85% of sellers confess that they have made embarrassing mistakes because of incorrect CRM data. (Source)
- It is also observed that 72% of sellers must have multiple displays or windows open at once to coordinate a sales process.
- Only 28% of organizations are satisfied with their tools to create a shared, centralized view of customers within organizations.
These challenges occur due to poor user experience, lack of knowledge or limited features. Fortunately, you can overcome these challenges by selecting the right CRM software for your business.
Usage of CRM by industry
Today, almost every industry has started implementing CRM software for various purposes. The below graph shows that the IT (13%) and Manufacturing (13%) industries are at the top when it comes to using CRM.
Statistics on mobile CRM
Mobile CRM has proven to be very effective in recent times, as it can help you stay on track with your tasks even when you’re on field visits or traveling.
- As per reports, 48%, which is nearly half of the users, confessed that they use smartphones to operate CRM. (Source)
- 45% of users access their CRM on their tablets.
- 34% of companies use mobile CRM only in Europe.
- 61% of organizations think mobile CRM is now a mainstream method for connecting with their customer base.
- Companies having mobile CRM are more efficient and are 65% more likely to achieve their sales quotas.
- On the other hand, companies without mobile CRM meet only 22% of sales quotas.
- It is also observed that 81% of companies operate their CRM on multiple devices.
- Moreover, you can see an increase in sales productivity of 14.6% with mobile CRM operations.
This clearly says that with progressing times, people are changing their devices from desktops and laptops to more handy mobile devices. This brings us to a point that having a CRM that can be easily managed on smartphones is mandatory.
By now, you must have realized that CRM has shown staggering growth in recent years. And the number of companies using CRM is only going to grow in the coming years.
So, if you haven’t implemented a CRM yet, it’s high time to get one and scale your business. For your company’s overall growth, Salesmate can prove to be the best CRM as it offers a wide array of features.
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