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What is a CRM? It is an often used term that we all hear from time to time. With the term CRM software or CRM process, we often come to think of related terms like automation and the growth of small business so that they can scale up. But what exactly does small business CRM do? Here’s a quick look before we go into the ten statistics of CRM that you need to know in 2020.
- Organise: A CRM software will help you organize yourself and your team before all else. With the help of small business CRM, you will be able to take on a more organsied approach as you will plan your functions along a well charted strategy and your resources as well. This will help you bring out the best in your team for better collaboration and sales conversions as well.
- Team Work: As discussed above, CRM for small business can help you make better use of your teams. With the sales pipeline set properly, you will be able to get better collaboration between the team members which will also lead to better and more efficient conversions. This will also help you define the exact role and function of each and every team member which will instantly remove the overlooking of tasks as well as the duplication of tasks.
- Conversions and Leads: When you turn to a CRM software, you will be able to bring in a higher rate of efficiency so that your business can chase leads and close conversions. When you approach your leads with a well charted sales pipeline and marketing automation, you can consider half the job done. The other half involves engagement which can now be taken over by your team members.
- Bandwidth: With a CRM software, you can easily free up your bandwidth and shift the focus of your team from monotonous and mundane tasks to more core ones that are crucial for your business. Further, with lesser resources now you can get more done in terms of reaching people all across the globe – and who may be your potential customers. This directly translates into scaling up your business in the long run.
- More Professional: Using CRM for small business also means that your visiting card and front office both get a more professional look thanks to the automated messages and the automated tasks that are done on time by team members. Also, customer interactions get recorded which means the information is intuitively pulled up next time your customer calls you, thus eliminating the need for repetition of information.
These are just a few of the benefits of turning to a CRM software for scaling up your small or medium sized business. There are plenty of statistics that also point at the sheer efficacy of CRM as well as the trends that have helped CRM systems evolve, the world over. Here are the top ten statistics that should concern you and your business in case you are looking to grow your operations in 2020:
- Cloud Based CRM Systems: When you think of small business CRM, you also think of cloud based solutions that can cut the cost of server space for the same. There has been a major increase in this trend with a prospective 11% increase predicted for cloud based CRM solutions that could actually lead to a market share of $15 Billion worldwide.
- Multiple Devices: Another interesting figure along the same lines states that the percentage of users accessing CRM systems from their other devices like phones and tablets is set to increase to 81%. This means that all your deliverables would have to be responsive and you should accordingly choose a CRM software that will enable such a transition and such technology for you and your customers as well.
- CRM Vs Database Management Systems: A major statistic that you need to pay attention to is the fact that the CRM software seems to be zooming right past mere database management systems with an expected revenue of $80 Billion in 2020 alone. That means you should be turning to small business CRM to tap into opportunities like never before.
- IT Spendings: Most of the organisations that have CRM systems as well as the ones that do not already employ the same, are said to be in a race to increase their IT spending so that they can make use of CRM software for better business results. This adheres to at least 60% of the organizations who have already increased their IT spending in 2019.
- Marketing Spend: If you thought marketing budgets will not grow in 2020, you can think again. There is a predicted growth of $350 billion increase in marketing spend for US companies alone, which places CRM right at the top of everyone’s wish list for an efficient marketing push!
- Customers and Leads: It is now a well documented fact that 60% of the customers if not more base their choices on what they find on popular search engines online. This is where the importance of CRM for small business also increases so as to put marketing automation in place for better positioning and reach.
- CRM Usage: The overall usage of CRM software by players all over the world has increased from 56% to a whooping 74% which truly makes it the technology for small businesses of the future. This can help you scale up like none other.
- Small Team Statistics: In this case, it would also be interesting to note that 90% of the companies with 10 or more employees are now using CRM which shows why small business CRM is in such huge demand.
- Sales Productivity: A massive 29% increase in sales productivity is said to be achieved by the use of CRM software. This goes on to prove just how important CRM is.
- Customer Retention: In a recent survey, 47% of CRM users said that CRM helps them retain customers more easily.
