Are you wondering what the CRM statistics and trends look like this year?
Good Customer Relationship Management (CRM) is often the decisive factor behind the growth of most successful businesses.
In this post, we’ll look at some key CRM statistics that reveal the increasingly important role that CRM is likely to play in the years to come.
What Is the Future of CRM?
All recent statistics and trends strongly suggest a very promising and even explosive future for CRM. With technologies like artificial intelligence (AI), Internet of Things (IoT), and Big Data integrating more deeply with CRM, we can expect exciting transformative changes in the world of CRM within this decade.
Moreover, we’ve seen the resilience of CRM growth as it showed no signs of stopping even during the peak of the COVID pandemic. So there’s every reason to believe that CRM will continue playing a vital role in the growth of small as well as large organizations in the foreseeable future.
CRM Statistics for 2023
CRM is on an explosive growth trend. Despite the disruptions to the global economy caused by the COVID-19 pandemic, CRM has continued to see increasing demand across a variety of sectors in the industry.
Let’s take a look at the different ways CRM is growing and providing benefits to organizations.
General CRM Statistics
First, let’s look at the board picture. CRM is showing every sign of continued growth. The forecasts suggest increasing market size and significantly higher ROI. As before, Salesforce continues to dominate the CRM market.
- CRM market size will reach $113.5 billion by 2027, with a CAGR of 11.6% from 2020 to 2027. (Fortune Business Insights)
- As IoT (Internet of Things) devices are expected to increase to over 41 billion by 2027, the opportunities for CRM system integrations with IoT feeds will also skyrocket. (Business Insider)
- 91% of companies having at least 12 employees use some form of CRM technology. (Grand View Research)
- According to a forecast, the ROI on CRM is likely to have increased from $8.71 in 2014 to $30.48 in 2021. (Dynamic Consultants Group)
- The Average ROI period for CRM software is 13 months. (G2 CRM Software Research)
- Self-service CRM is expected to become more common, with customers being able to find what they need without the assistance of a live agent. (Salesforce)
- CRM intelligent software is more widely accepted by millennials (28%) as compared to Gen X (18%) and Baby Boomers (9%). (99firms)
- The integration of AI (artificial intelligence) and automation with CRM was predicted to help grow revenues by $1.1 trillion by 2021. (Salesforce)
- Most companies invest in CRM technology during the first 5 years of launch. (Capterra)
- Salesforce, Adobe, Microsoft, Oracle, and SAP hold the highest CRM market shares, with Salesforce dominating the industry with a 24% market share. (Statista)
- About 97% of sales professionals believe sales technology and CRM systems to be either important or very important for business. (LinkedIn)
- From 2019 to 2029, the mobile CRM app market is forecasted to grow by 13% year-on-year. (Future Market Insights)
- Companies operating in the service industry (32%) and IT (13%) express the greatest interest in obtaining CRM technology. (SelectHub)
Recent CRM Adoption and Usage Trends
Although companies have historically faced challenges when it comes to adopting CRM within their teams, CRM usage is higher today than ever before and shows a rising trend. Cloud-based CRM solutions have overtaken the market almost completely within a single decade. Like most other technology-driven fields, CRM is an area of rapid change.
- Contact management, interaction tracking, and schedule reminders are the most demanded CRM software features. (Software Advice)
- In a survey, about 92% of organizations reported using a database to store and manage customer information. (GDMA)
- According to Workbooks, 52% of the small enterprises adopted CRM to improve data management and gain business insight. (Workbooks)
- About 82% of companies use CRM for process automation and sales reporting. (Grandview Research)
- 75% of business leaders claim that the COVID-19 pandemic pushed them to make more investments in digital tools for customer management. (Zendesk)
- Cloud-based CRM usage has increased from only 15% in 2010 to 97% in 2020. (SuperOffice)
- For as much as 46% of the companies surveyed in a report, resistance to change was cited as the main obstacle to CRM adoption. (Workbooks)
Benefits of CRM Technology & Processes
CRM has advantageous to organizations of all kinds in a variety of ways. The statistics below sum up the results of various surveys and research highlighting how CRM is benefiting companies achieve their customer service goals.
- 52% of customers will readily purchase from brands providing a better customer experience even if they have to spend more. (Zendesk)
- 47% of CRM users believe that using CRM technology has helped improve customer satisfaction and retention. (Capterra)
- 92% of organizations think that technology is imperative for promoting customer-centric service, underscoring the value of modern CRM systems. (SuperOffice)
- CRM helps sales agents keep track of service history for their customers. According to Salesforce, 68% of customers think it’s important for agents to be aware of their service history. (Salesforce)
- Organizations that rely on CRM claim to have observed a 14.6% increase in productivity with the use of mobile and social CRM. (Nucleus Research)
- CRM provides more streamlined access to customer data, according to 72% of brands. (resco.net)
- 87% of CRM users assert that it has helped boost sales for their company. (SuperOffice)
- CRM software can improve the accuracy of sales forecasting by 32% and enhance sales productivity by 39%. (Salesforce)
CRM Forecast & Predictions for the Future
As the technological capabilities of CRM software advance, we can only expect it to play an increasingly vital role for organizations all over the below. The statistics below predict continued growth as well as some emerging trends directing the future of CRM.
- 25% of customers interact with brands via social media, which is likely to spur on more enhanced social CRM solutions in the future. (GWI)
- In 2020, about 44% of companies increased their IT budget, allowing for better CRM adoption. This trend is likely to continue moving forward. (SWZD)
- Voice-enabled devices have been increasing over the past few years. This means new developments in ways CRM technology can help companies serve customers better by leveraging voice data. (Salesforce)
- In a survey, 24% of the respondents highlighted tracking and analyzing multiple customer touchpoints as their top CRM priority. (CMSWiRE)
- Privacy remains a measure concern as 46% of consumers think they don’t have adequate control over their data. An increased focus on compliance with privacy regulations like GDPR is likely to be seen in the CRM industry. (Cisco)
- 79% of organizations will be using AI-driven CRM solutions by 2023. (Salesforce)
- By Q4 2021, 93% of organizations recognized the importance of personalization in customer care. This trend of increased personalization is likely to strengthen even more. (Dynamic Yield)
Automating Your CRM With WPForms Integrations
As trends suggest, the opportunities for CRM integrations are growing at a quickly accelerating pace. Now, you can even connect your CRM to WPForms to automate processes like creating new contacts in your CRM database directly from forms embedded on your site’s frontend.
WPForms is compatible with some of the most popular CRM software like Salesforce and now HubSpot as well. These WPForms integrations provide great value by helping you improve productivity and eliminate unnecessary administrative tasks from your workflow.
To learn how to connect WPForms with your CRM, see the articles below:
And there you have it! We hope these CRM statistics revealed the wider picture relating to developments around CRM and what we can expect in the years to come.
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