Being in CRM consultancy for more than 10 years , Winklix has deeply experienced market trends and CRM statics . In order to help you out with better understanding of CRM software as well as its benefit and challenges , we have created deep insight article describing it in broader way .
The CRM Market Is Already On Rise
As written by Gartner in their recent reports , CRM market size will reach $ 80 billion by year 2025 . Another major survey on customer engagement platforms by Ovum has also Cleary stated CRM growth by segments . It is expected by year 2022 , marketing automation CRM segments will grow at fastest in comparison with customer service and salesforce automation which will also grow at same time .
SalesForce Will Remain CRM Market Leader
As per the recent reports conducted by Gartner on CRM market , SalesForce CRM is still achieving top most position acquiring 19.5 % of CRM market share . SAP as per recent reports is acquiring only 8.3 % of the total market share .
The report given below clearly states that CRM is synonymous with Salesforce for many user and hence it is not only choice as many customers are choosing other solution as well .
CRM Is Must To Keep Ahead In Business Competition
According to some sources , near about 82 % of the companies are using CRM solution to manage sales process automation and sales reporting . Even Salesforce states in their reports that CRM solution helps increasing employee productivity , customer engagement and retention as well as reap other benefits .
Hence it is more likely for a company to succeed if they are exploring CRM capabilities at its full in comparison with business who deny to use CRM .
Success CRM Implementation Will Give High ROI
According to FinanceOnline , the ROI on CRM software implementation is from $ 2.50 to $ 5.60 for every dollar spent on software solutions . Modern CRM is cloud based solution which given various kinds of benefits and training for IT professionals which thereby increases :
- High employee productivity
- Increase number of sales leads and follow ups
- Increase conversion of leads
Most Of The CRM Users Prefer Cloud Based Delivery Version
As per the recent survey conducted by SelectHub’s CRM buyers survey , majority of the respondents prefer cloud delivery model to on premises one . It was only 43 % of the user which treat offline and cloud CRM at equal place .
Offline or on premises CRM requires complex infrastructure as well huge investment which is most prominent reason why many tend to hesitate choosing on premises offline CRM .
CRM Is Being Used By Service , IT and Manufacturing Companies
As per the recent survey by SelectHub’s CRM user survey , almost 32% of the users of CRM is from service industry . Another major share of 13 % is acquired by IT and manufacturing companies and retailers companies are taking market share of 18 % .
CRM Adoption Improves Sales Performance
If you are an enterprise and your CRM adoption rate is less than 75 % , then you are more likely to have poor sales performance as stated in sales operation optimisation study by Miler Haiman group .Lower adoption in turn leads to poor management , follow ups with clients and thereby lower win rate . Thus in case you want to increase your sales , always try to ensure that your organisation is equipped with CRM solution and at the same time your user must get hands on on user training and release notes on custom built CRM functionality .
Manual Entry And No Third Party Integration Are Main Obstacle To Successful CRM Usage
The majority of respondent in state of inbound reports by HubSpot stated that main reason for failure of CRM solution is manual data entry and lack of integration availability of using the system . That’s why industry hesitate to implement CRM as a separate system as it brings hesitation to its user and thereby hamper the overall adoption of CRM .
Conclusion
A CRM system which in turn support sales , facilitate customer management and give a hands on marketing activities is must for every organisation in todays world if you want your organisation to be ahead in this competitive world . But if you are thinking of that purchasing of CRM can immediately solve your problem in every way and your job will end there , then that will never going to happen . In order to help sales , marketing and customer service team to explore the most out of CRMs , it is viable to avail customisation , integration and user adoption service from some reliable CRM software provider .