When considering a CRM for your business, here are a few facts that are normally kept behind closed doors. We hope you take from them what you will and it helps you gain more perspective on your CRM requirements.
1. The majority of CRM users use the same functions despite subscribing to different packages with different providers.
2. Every Small Business that wants to grow and expand must use a CRM to succeed. 91% of companies with 11 or more employees have a CRM.
3. 65% of users want CRM to be easy to use.
4. 80% of CRM systems are ordered with unnecessary functions that never get used.
5. The greater the degree of sophistication that a CRM has, the lower its user’s adoption rate.
6. The majority of CRM data is hosted on shared databases that are located overseas.
7. By making it difficult to download your data, retention rates are increased.
8. 87% of CRM is a SaaS product (Software as a Service - an off the shelf software solution). Only 13% is built specifically for a company.
9. Bespoke CRM has a Return on Investment of 245% for the user but a much lower ROI for the CRM company.
10. You are responsible for the security of your data stored in a CRM system. Not the CRM provider.
11. Simple CRM solutions are more productive for small businesses than complex solutions.
12. 87% of companies that do not use a CRM fail to convert their leads compared to those who use one.
13. Based on email marketing spend, CRM with automation can give you a return of £45 per £1 spent.
14. CRM is going to see more growth in the next five years than any other software solution. A whopping £80 billion by 2025.
15. Hubspot’s balance sheet was $1,015 million as of 31 December 2019, and Salesforce’s balance sheet was $20,743 million.
16. Profits for the largest CRM companies are growing by 30% per year.