1. CRM growth isn’t slowing down
According to Fortune Business Insights
In 2020, the global market for Customer Relationship Management was valued at $52.64 billion. The impact of the pandemic in the same year accelerated the demand for CRM significantly. Companies needed a new way to connect with clients in a digital age. By 2028, CRM technology should be worth around $128.97 billion worldwide.
2. Companies usually invest in CRM technology within the first 5 years
According to Capterra
Companies are keen to improve their relationships with clients as quickly as possible. This often means investing in CRM early – during the first 5 years of a company launching. When the technology is implemented into the company, it’s used around 80% by sales teams, 46% by marketing, and 45% by customer services.
3. The average ROI on CRM is $8.71 for each dollar spent
According to Nucleus Research
Nucleus Research revealed an average of $8.71 returned for every dollar spent in 2014. Though this number hasn’t been updated since then, STS EGYPT commented on the evolution of the CRM market in 2021, and calculated that this number may have increased to an average of around $30.48 for every dollar spent in 2021.
4. 91% of companies with 10 or more employees use a CRM
According to Grand View Research
CRM technology is rapidly becoming a table-stakes feature in all business technology. According to industry estimates from Grandview Research, more than 91% of companies with 10 or more employees use a CRM to manage conversations with customers. CRM analytics also represent one of the fastest-growing areas of CX technology.
5. CRM will be the largest area of spending on enterprise software
According to Gartner
By the end of this year, Gartner predicts that CRM technology will represent the largest area of enterprise software investment. Companies from small brands to large banks and consulting agencies are all increasingly turning to CRM.
