Explore These 21 Remarkable CRM Statistics For 2024

Table of content

1. Introduction

2. 21 CRM Statistics

3. Ready To Leverage These CRM Statistics

Introduction

Customer relationship management software are the ones that assists you in developing strong & valuable relationships with your potential & existing customers to persuade them to convert into sales and retain them for a long time in the business! 

Unsure how a CRM software could benefit your business? Well, you must explore these 21 CRM statistics for 2024 to see their potential impact and understand their significance! So, let's not wait any further and dive right into the statistics!

Here Are The 21 CRM Statistics To Look For In 2024!

1. In Digital Marketing, The CRM Software Is Rapidly Emerging As A Top Choice For Everyone — When it comes to digital marketing, it demands various types of tools & software, from keyword research tools & graphic design tools to SEO plugins. However, it’s obvious that the most rapidly expanding category of marketing software is CRM software, indicating its significant importance and widespread adoption.

2. Implementing A CRM Software Is Of Top Priority For Enhancing Sales — There are a lot of businesses that are investing in a robust CRM platform, and there are 13% of businesses consider it as one of the top sales priorities! In simple words, a CRM is an essential tool for making your sales and marketing strategies a huge success.

3. Nowadays, Companies Have Started To Utilize A CRM Software Vigorously — You must know that about 65% of businesses have started utilizing CRM software in their initial five years of operations! Implementing a CRM shouldn't be delayed for years into your business journey. It's advisable to adopt a CRM as soon as it becomes practical. This urgency is why the majority of companies start using one within their initial five years of operation.

4. Highly efficient sales teams are 81% more inclined to consistently employ a CRM platform compared to less effective ones — Yes, there are many companies that are doing a great job when it comes to sales. And of course, one key practice they adhere to is integrating a CRM system. These prosperous companies are 81% more inclined to utilize CRMs compared to their less successful companies.

5. A CRN Software Plays A Vital Role In Achieving The Revenue Goals & Objectives Of A Business — Revenue is what every business strives for and 92% of companies believe that a CRM tool is essential to use for achieving excellent revenue outcomes. Therefore, it's quite important to understand that a customer relationship management software is essential for driving more revenue for any business.

6. Sales Representatives Tend To Spend An Extra Hour On Manual Data Entry — When it comes to sales representatives, it is important for them to spend their time wisely i.e., focus on driving more sales for the business. However, 32% of sales representatives spend a decent amount of time in manual data entry into different platforms. Whereas, a CRM can help automate the task of data entry and give enough time to the sales reps to drive more sales.

7. The Major Challenge In Any Business Is To Closing More Deals — For a lot of businesses, the most difficult thing to do is to achieve the last step of the sales process with flying colors, which means closing the deal successfully! And 30% of businesses agree with this statement! But the solution to this is to understand more about your potential customers so that you can carve your path to close more deals and that's where CRM software comes in handy!

8. Great Customer Experience Encourages More Purchasing Decisions — It's important to note that customer experience plays a vital role in increasing sales and retaining customers! Approx. 73% of customers say that customer experience is one of the top factors that helps them to make their final purchasing decisions. When customers are made to feel like the company is really trying to help to solve their problems and offer an effective solution, they are more likely to make a purchase. Therefore, a CRM software is a great platform to help you to understand the needs & pain points of your prospects.

9. CRM Helps In Increasing Conversion Rates — CRMs are highly recognized for helping businesses to understand more about their target audience and they also help in increasing sales! You should know that CRM software has the capability to elevate the conversion rates of your business by 300%! With the implementation of great CRM software, you can witness a surge in your conversions.

10. The Cost Of Leads Can Be Decreased Utilizing A CRM Software — CRMs can not only support you to make more revenue for your business, but they can also help you to cut lead costs for up to 23%! A CRM software enables you to have a neat target audience, which helps you to reduce ad spend and not invest in vague marketing strategies. In simple words, it helps you to spend less in order to generate more leads.

11. CRM Can Drive Great Revenue For Any Business — Using a CRM comes with a lot of benefits such as it helps you to increase your business revenue by 245%! Isn't this amazing? 

Check This Out: How To Utilize CRM To Improve Your Sales Funnel And Boost Conversions

12. The Average Return On Investment (ROI) Of CRM Is $8.71 — CRM systems come with a price tag, but there's no guarantee that you'll recoup more than what you invest. However, statistics strongly suggest otherwise. On average, businesses tend to generate $8.71 in revenue for every dollar they spend on CRM tools!

13. Contact Management Feature Is Important In A CRM Platform — One of the top features that 94% of the companies look for in a customer relationship management tool is none other than contact management! This particular feature enables you to keep a track of your customers or prospects so that you can learn about their buyer's journey & reach out to them at the right time.

14. Cloud-Based CRM Platforms Are Utilized By Most Businesses — CRMs are specifically created to collect and store valuable data and some of the CRM tools prefer storing that data on your computer system. But, you must know that 87% of the businesses prefer using customer relationship management tools that store the data in the cloud! This is a great way to not put yourself into risk of losing valuable data due to certain circumstances.

15. Businesses Are Using CRMS For Automating Their Process & Sales Reporting — 82% of the companies that are utilizing CRM platforms use CRM for fulfilling their objective of generating sales reports and automating sales processes. This indicates that you must also opt for a CRM software that is equipped with all these features, for example: edge CRM!

16. Interaction Tracking Feature Is A Must In A CRM Platform — According to 88% of users, the interaction tracking feature is a must-have in their CRM tool. This specific feature allows you to see the business interactions of each & every user. You will be able to see when they visited your business's website, purchased your products & services, tried to reach you out, etc 

17. A CRM Software Gives An Improved Access To Valuable Customer Data — 74% of companies say that they enjoy the benefit of accessing their customer data in a better way. Typically, that's the basic & primary function of a customer relationship management tool, it allows you to collect and evaluate customer data which further helps you to learn more about your target audience. 

18. Using CRM Software For Your Business Can Give Your Accurate Results — Another important factor why businesses are more inclined towards using a CRM tool is to get a perfect report. An excellent CRM helps by compiling customer data into accurate valuable reports by 42% allowing you to understand the patterns & trends of your customers.

19. CRM Platform Has A Huge Impact On Customer Retention — According to 47% of businesses, CRM software is highly responsible for the matter of customer retention! If you are better at understanding your target audience and customers, it's more likely for you to retain them for a longer duration because you are fully aware of their needs as well as expectations.

20. CRM Helps In Increasing The Accuracy Of Sales Forecasting — CRMs are known to deliver accurate sales forecasting by  42%! Additionally, this means that this is a perfect tool for your business as it helps you to identify the sales trends to expect, enabling you to plan your budget more efficiently.

21. CRM Helps In Improving The Overall Productivity Of Teams — Another great feature that contributes to the success of more implementation of a CRM software is the “Mobile CRM.” An easy access to customer data from anywhere, anytime helps in increasing the team productivity by 50%. Mobile users will be able to review important data & numbers before commencing any meetings, reply to messages that are important, and beyond. It enables sales representatives to connect with their customers quickly and make a good impression.

Are You Ready To Leverage These CRM Statistics For The Growth Of Your Business?

Would you like to turn these remarkable CRM statistics for 2024 into a real success for your business? Are you all set to enhance the revenue of your business through the implementation of a robust CRM system? Let “edge CRM” assist you in making this happen!

Our top-tier CRM platform — edge CRM, empowers you to oversee every stage of your sales process, from building brand recognition to securing conversions! In addition, it enables you to monitor your return on investment, allowing you to allocate resources to the most profitable strategies for your company. 

And what's the best thing about our company? Well, our team of experts are always there to help you optimise your outcomes with every feature in every single step! 

Interested in knowing more about edge CRM, reach out to us today and get a free trial!