Why are there so many CRM software
CRM systems and their statistics: this is what the real added value looks like.
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In addition to lead generation and lead engagement, customer relationship management is seen as one of the most important aspects of sales. Companies that are planning the introduction often deal with the question of the specific added value of such a solution. We want to give these companies a better understanding and an overview of the advantages and challenges of introducing CRM. This article uses exciting statistics to show what specific benefits a CRM system has, how sales can benefit significantly from a customer relationship management system and how it becomes a win-win situation for everyone involved.
Because: CRM software can increase sales by 29%, productivity by 34% and forecast accuracy by 42%.
CRM systems became the largest software market in 2017 and the fastest growing in 2018, and the CRM market is currently worth $ 120 billion.
CRM systems offer their users numerous advantages. Above all, sales managers quickly learn to appreciate the benefits of a customer relationship solution. The CRM software prepares the data and statistics that are crucial for sales in a central place in a comprehensible manner. The software provides the company with relevant information in real time and enables a precise understanding of processes and developments in the individual teams.
Customer relationship management increases customer satisfaction and provides a real advantage - but only if the CRM solution is tailored to the company and is accepted by employees. Because 43% of CRM users only use less than half of the functions of their CRM system.
Holistic customer relationship management
The core of CRM is to initiate a strategy with which companies can orientate themselves in a targeted manner to the wishes and requirements of their customers. Today companies are in contact with potential customers through numerous channels and the portfolio also includes many long-term partners. Nevertheless, there is definitely room for improvement in terms of customer loyalty. Customer loyalty and the acquisition of new customers is essential for sustainable corporate success. CRM systems can improve customer loyalty by up to 27% and increase the conversion rate by 300%.
The greatest complexity for sales staff often involves qualifying leads and prioritizing sales activities. This is where the CRM system comes in. 74% of CRM users say that their CRM system offers improved access to customer data.
With transparent and central information to success
In a CRM system, the sales department stores all relevant data, contacts and the associated communication in the appropriate place. In this way, the tedious and sometimes confusing sales process becomes comprehensible and efficient for everyone. Well-structured communication is particularly important when several colleagues or different contact persons are involved. Process steps are no longer carried out twice or even in vain and everyone involved saves time and money, which they can then invest in more personal customer service. 48% of sales teams already use their CRM systems heavily to improve operations.
In addition to addressing each prospect individually, the shared use of customer data makes cross-selling and up-selling opportunities much clearer. CRM applications can increase sales per sales employee by up to 41%. In addition, it can be guaranteed that companies with which initial contact has already taken place will be continuously supported in the future. At best, these contacts are transformed into new customers through commitment and the precise addressing of needs.
According to SoftClouds' CRM Cloud Survey Report, 82% of companies already use customer relationship management solutions for the automation of sales processes and sales reporting.
Working together for better customer service and support
In addition to more effective sales processes, service and support also benefit from the use of a CRM system. If a CRM solution is introduced, customer care by a single representative becomes obsolete. Decentralized customer care offers numerous advantages for your own employees, but also for the customer. While the know-how and workload of the account manager can be spread over several shoulders, the customer knows that a quick and optimal solution to his needs can be presented to him at any time.
The CRM system can be used to ensure that every service employee in the company has access to the application. Customer concerns and possible problems can be viewed and understood by all colleagues at any time, even if the processing and management was previously carried out by other people. The availability of data can shorten the sales cycle by an average of 8 to 14%.
According to Gartner, lead management and customer service are two CRM segments that are contributing to strong sales growth of 20% each.
A CRM system supports the sales staff in maintaining customer data and all sales opportunities and offers that are created in this context. Unrestricted access to the CRM data is essential. 81% of salespeople say they access the software from multiple devices. With a cloud solution, required information can also be accessed and processed on the go via the mobile CRM. FinancesOnline states that mobile business application users can increase customer satisfaction by 74%, revenue by 87% and business process efficiency by 73%.
Your own tasks and activities can be better organized and prioritized, routes can be intelligently adapted and open points from colleagues at a common customer are also taken into account. Especially when looking after large companies across several departments, this means considerable added value for everyone involved. The time gained here can be invested effectively and purposefully in customer service. As a result, the company generates more sales and customer satisfaction increases. According to CRM decision-makers, productivity through the use of mobile CRM applications can be increased by 14.6%.
Regularly recurring reports and evaluations can be called up anywhere and anytime. In addition to secure data storage, analytical CRM offers automated processes and real-time data. A report, which usually requires a lot of preparation time and the gathering of decentralized information, is generated in the system with just a few actions.
Can a CRM system also have disadvantages?
While the advantages of a CRM system are obvious, there is always the question of potential disadvantages.
As a rule, CRM software can only become a problem for your own company if a CRM provider is selected who does not meet the company's requirements. Studies have shown that 63% of CRM projects are error-prone.
An example: If the functions of the CRM system are too extensive for a small company and the use and management of the software then become too complex, then this CRM project will probably generate little benefit.
If important points, tools and IT infrastructure are not taken into account, resulting in incorrect or even inadequate use of the system and the advantages of the system cannot be assessed, then this can lead to a disadvantage.
At best, companies should contact an expert before introducing and selecting CRM, who will take up the individual requirements and introduce a custom-fit system from which the whole company will benefit. A successful implementation can definitely pay off.
According to FinancesOnline, the ROI of a successful CRM implementation is between $ 2.50 and $ 5.60 for every dollar invested.
To support you in defining your CRM requirements, we have created a CRM requirements catalog. You can download it here.
A CRM system that is not used, on the other hand, cannot create an advantage. How you can increase the acceptance and use of your system with a few tips, you can read in the following article: 3 tips on how to increase the internal acceptance and utilization of your CRM .
CRM systems may not always be very popular with all employees in a company when they are first introduced, but the more time is invested in using and adapting them, the greater the acceptance, appreciation and results. A suitable attitude and openness to innovations are decisive prerequisites. This causes additional work in the familiarization phase. This makes it all the more important for the sales team to understand that a well-functioning system is the basis for success and the achievement of goals.
Because if a CRM strategy is suitable and successful, the software is used correctly and in a variety of ways by the users, all the advantages of the system are exploited.
If all users and areas are taken into account and included, the CRM system unfolds the entire added value - for the sales staff and company departments as well as for management and customers.
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