Nine out of 10 companies in North America with more than nine employees now have CRM systems in place to help manage customer relationships.
But, according to HubSpot, while closing more deals is most sales teams’ primary goal, less than a fourth of them say it’s important to improve existing sales technologies that would help them achieve that goal.
The point is, while the average sales and marketing team is using a CRM to store and manage customer data, they may also rely on Microsoft Outlook, Excel, Google Docs or physical files to track other details or communications related to these audiences.
These marketers may not have built out their CRM systems to fully capitalize on their ability to segment markets, personalize messaging and automate sales and marketing processes to engage those audiences.
And there’s research to show that could be a lost opportunity: When properly deployed and adopted, CRMs heighten productivity, boost customer retention and shorten sales cycles. And that helps marketers to win more of the right accounts faster and keep existing accounts longer.
There’s data to show that within an organization, CRM technology produces clear, tangible and indisputable business results for B2B organizations. And the potential marketing and sales impact of this technology has been the subject of a number of studies and surveys. For example, consider the following statistics about the impact of CRM on sales, productivity, customer retention, and more, as measured by a number of technology providers, research firms and media outlets:
CRM applications can increase sales by up to 29%, sales productivity by up to 34%, and sales forecast accuracy by 42%. — Salesforce
Among 500 CRM users surveyed, 47% said their CRM had a significant impact on customer retention, an equal proportion said their CRM had a significant impact on customer satisfaction, and 45% said sales revenue increased after implementing CRM. — Capterra
The type of data accessibility offered by CRM analytics shortens sales cycles for sales teams by 8% to 14%.
— Nucleus Research
According to a sampling of CRM customers, sales and non-sales teams saved an average of 13 hours per week per user by using a CRM. — Copper Chronicles
The kind of personalization provided by CRM and customer data platforms can deliver five to eight times the ROI on marketing spend and can lift sales by 10% or more.
— Harvard Business Review
87% of marketers report a measurable lift from the kinds of personalization efforts that CRM can drive, in terms of higher conversion rates, improved customer experience and increased visitor engagement. — Evergage
Personalized emails, a key functionality of CRM systems, generate 6 times higher transaction rates and revenue per email than non-personalized emails. — Experian
For the back story on these impacts, check out the new whitepaper from Point To Point on why B2B organizations need CRM technology now, and how to implement this resource to segment markets, personalize messaging, and ultimately elevate business results. You can also contact us directly to kick off a conversation about enhancing your marketing programs with CRM technology or getting your existing CRM system to do even more.
For additional industry experts: Digital Marketing Agency