Customer Relationship Management (CRM) is an approach to managing a company’s interaction with customers and prospects that is based on data analysis and often using a software solution. In B2B sales, a CRM system can make the difference in gaining a new customer or retaining an existing one. Customers who feel valued are happy customers and happy customers mean repeat business – not to mention, improved bottom lines.
The CRM software industry continues to grow at a staggering rate and is currently valued at $120 Billion globally!
The reason? Customer Relationship management is now at the heart of every growing business.
Did you know?
- 91% of companies with more than 11 employees now use a CRM (source)
- 50% of companies with 10 or less employees now use a CRM (source)
- The average ROI on CRM software is $8.71 for every dollar spent (source)
- Effective sales organizations are 81% more likely to be using a CRM (source)
- CRM applications can help increase sales by up to 29%, sales productivity by up to 34% and sales forecasting accuracy by 42% (source)
- Better data access through CRM shortens sales cycles by up to 14% (source)
- Sales reps see a productivity increase of 26.4% when using a mobile friendly CRM (source)
- 75% of businesses do not have a functioning process for nurturing leads yet leads nurtured through a CRM will convert 47% of the time (source)
- CRM can improve customer relationships by 74% (source)
- CRM can boost purchase value by 40% (source)
- Conversion rates can improve by 300% with a CRM in place (source)
- 24% more sales reps achieve sales quota with mobile access to CRM (source)
MoreSALES can help you implement a customer relationship management system to support your sales process and improve customer and prospect engagement. Contact us today.