I have reviewed a number of Customer Relationship Management (CRM) sources to give a flavour of how CRM is growing and how it is being used. Most of the sources are US based but I have added in our own experiences in MindaClient.
I list the sources at the end of this article.
1. Growth of CRM continues
CRM software is now the biggest software market in the world and the growth isn’t slowing down. In fact, CRM is now expected to reach more than $80 billion in revenues by 2025.
2. Huge increase in usage continues
Six years ago, only 12% of businesses used cloud-based CRM while today this number has increased to 87% and continues to grow every day.
3. CRM has not yet saturated the Micro companies (under 10 employees)
91% of companies with more than 11 employees now use CRM software. Micro companies with up to 10 employees do not have nearly as big an uptake. We often hear companies say that they will get a CRM when they grow to a bigger size.
I would argue that getting the CRM system when you are a small company will help you grow. We have sole traders using MindaClient to help manage their clients.
4. Rise in use of Mobile CRM
There is a definite rise in the use of Mobile CRM. One statistic is that of companies using a mobile CRM, 65% are achieving their sales quotas.
This would figure from our experience. Salespeople using mobile CRM will proactively fill in the details on their mobile as soon as they have finished a meeting.
5. What industries are using MindaClient
This would tie in with our experience as well. The broad service industry and manufacturing sector would be the biggest sectors using MindaClient. We do see the education sector increasing its use of CRM.
6. Customer service is still king
In 2019 84% of customers said the experience that a company provides is as important as its products and services — up from 80% in 2018.
CRM is the still best technology to help you provide improved customer experience.
7. Companies still using non CRM tools for CRM functionality
This does not surprise us. We come across many companies who will use their Outlook contacts and emailing history as their CRM.
We also see large sales teams still using spreadsheets to mange their sales and pipeline. Problems occur with different spreadsheets storing different sales and often only profiled by a different colour. It is almost impossible to easily get a proper history of sales & pipeline from different spreadsheets.
8. Who are the big players in the industry
Salesforce continue to dominate, however, there is a very large mix of other vendors who were still making up over 50% of the market by sales volume.
No matter who you choose you should assess the CRM Vendors for their support, their customer service, how well they can customise the CRM to your needs and talk to their existing customers.
When choosing a CRM vendor don’t forget MindaClient who is somewhere in this mix of these other Vendors!
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Sources for the above stats:
- nucleusresearch.com
- superoffice.com
- business.com
- salesforce.com
- selecthub
- statista
- financesonline
