Top CRM Market Statics Which Aids In Exploring CRM Potential

Top CRM Market Statics Which Aids In Exploring CRM Potential

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 .

6 Ways How CRM Can Improve Your Marketing

crm software development

It is a general trend that when people think of implementation of CRM for their enterprises , they think of sales . In fact people buy CRM to increase their sales , irrespective of the fact that CRM has many other parts and one of the important part is marketing .

If CRM has been implemented properly it can benefit organisation in number of ways namely improving lead quality , maintaining customer relationship by better communication , lowering the manpower cost and enhancing customer satisfaction .

For a CRM to be implemented properly which can in turn benefit you in number of ways , you must hire a CRM software development company with proven track records and years of experience .

Since this blog is limited to how CRM can improve your marketing tactics ,  let’s quickly looks in which it can be achieved .

It Makes Relationship With Sales Stronger 

The leading salesperson in any organisation will regularly follow up on the leads they receive from marketing tend around the clock . But as per the recent reports the fact is 10 % of the organisation has no matured lead management system compared to 25 % that are actually using lead management process .

Regular following up with the leads gives marketing team confidence in lead who are more likely to be converted into deal because and only because they are getting following up rapidly , and therefore more likely to get converted .

At the same time it also allows salespeople and marketer to easy track the progress of sales lead , thereby allowing efficient carrying out of task between departments and thereby efficiency managing campaigns of sales and marketing .

It Allows Filtering Customer On The Basis Of Value 

Understanding customers is one of the important factor for carrying on successful marketing tactics . CRM enables you to extract meaning from database so that you can get insight for required customer information and interest that can aids you to join marketing dots .

CRM also helps you to filter database of customers on the demographics , amount of revenue generation and cost of establishing and maintaining relationship with customers .

It Automates Email Marketing By Integrating With Email Campaign 

Carrying on email drive is more likely to increase your revenue by 18 % which comparing it with broadcast email . Many marketers also believes that email is the primary channel for lead generation . CRM system automate email marketing campaigns which allows right person to be connected on right time which in turn generates greater return on investment .

It Allows You To Automate Part Of Your Marketing 

Automatic feature in CRM allows to you carry out your marketing more efficiently . For instance , automatic code generation , capturing data online , taking input of data in CRM all can happen with ease .

CRM Allows To Track Performance 

Right from getting the leads from different sources to following up the entire sales cycle , you can keep the track record with just a single click . At just the press of the button you can view reports , track progress of leads and also pipeline revenue in real time .

This all automated process helps you in successful initiatives , reduces wasting of resources and build a virtuous feedback loop .

CRM Helps To Manage Marketing Suppliers 

CRM features is not only limited to customer focused approaches , but at the same time it also aids you in developing closer relationship with your supplier . Web based CRM software allows you to store data on your CRM platform which keeps all details at one place , allowing to track product pricing over time , sales trends followed by customer and more .

This reduces cost , optimises timescale , and over time drive up relationship with customer and suppliers to next level.

Looking for CRM software development or customisation , hire Winklix developers to get the best of benefits arising out of it .

Why Manufacturing Business Are In Need Of CRM

Why Manufacturing Business Are In Need Of CRM

When we are talking about manufacturing industry their management are more focused about production and operations management and not on sales and marketing efforts which is also one of the important part in any business organisation.

When we are talking about sales and marketing in digital terms , Customer Relationship Management (CRM) is the term used by us . CRM aids any organisation to surpass customer related information across different department and accommodate customer data from all possible channels .

Lets look at some of the amazing benefits of CRM system in manufacturing industry :

Features Of CRM

Every mostly used CR solution has the following inbuilt feature in it :

  • Contact Management : It enables person to enter customer data , documents , records such as calls , emails , website visit , past order history .
  • Lead Management : Helps managing sales leads which has come from different sources relating to sales assignment .
  • Order History : It enables any organisation to track the customer past order history records , their past interaction thus offering them with the relevant product according to their personalised needs .
  • Milestone Notification : This is basically the progress report of the sales forecasting and person can track the progress report right from leads tills its conversion to its clients .

Are There Features Related To Manufacturing Industry ?

Yes , no doubt these features directly helps manufacturing industry in many ways . Manufacturing department will be able to accurately predict the level of production required for present as well as future demand which they can get prediction on the basis of sales forecasting .

CRM is although always concerned with sales forecasting , but in manufacturing sales department can provide you with the requirement of production volume needed in coming week , month or quarter .

CRM is capable of handling both new leads and handling existing relationship . By having a track record of the order history together with automated follow up with the leads helps predict the future sales by sales department . By this a manufacturing industry management can accurately predict how much inventory and labour is required to fulfil the sales need .

Even in case of non-sales function in manufacturing industry , manufacturer can use CRM to keep record of manufacturing software for maintenance tracking , technical work and more . Not only CRM will assist in tracking sales , it can also be used for getting contact information from various companies in case of last. minute breakdown .

Is ERP  Not Capable Of Handling This ?

ERP system is develop to handle business efficiency through internal department management which aids better working process , employee productivity enhancement and smoother workflow operations . CRM on the other hand focuses solely on customer management .

A fully equipped ERP system for manufacturing industry  are being able to handle accounting , sales order and inventory . Some ERP also comes up with build in CRM module . So some of the companies think they can get all things through ERP using that module , but just for an explain a sales person will by chance get a chance to enter into your accounts or order management module and will get all the information which might not be of any use for your sales employee . Also as the sales employee are less trained , the result might be unexpected from your side thereby affecting your other department functions also.

It is also a security issue to give sales employee a access to internal department ERP , say for instance financial records . Anyways lucky you can contact a CRM consultant who can assist you with choosing the best ERP-CRM integration solution or can develop a custom CRM solution for you .

What Is Goal Of CRM Then ?

The ultimate goal of CRM is to store all pieces of customer related information at one place to maximise customer relationship . This helps to get the most out of marketing and sales and increased customer service and satisfaction . On an overall basis it increases business efficiency .
So do you really wanted to manage your customer relationship efficiently , a professional CRM software consultants will help you with CRM software of any complexity .