For businesses in any industry, a system to properly manage customer relationships opens up bigger and better opportunities for success. Customer relationship management (CRM) allows companies to organize, automate and synchronize sales, marketing, customer service and technical support applications. With this, businesses can build strategies to learn more about their customers' needs and behaviours.
So how many companies use CRM systems?
In recent years, CRM usage has increased from 56% in 2012 to 74% in 2013 and has continued to grow throughout 2014. In addition, 91% of companies with more than 11 employees use a CRM system, compared with 50% of companies employing fewer than 10 people.
Currently, one of the most predominantly used CRM systems on the market is Microsoft Dynamics CRM. According to a study conducted in March 2014, 40,000 companies used their services, amounting to 4 million individual CRM users*.
Is CRM worth the investment?
A CRM system helps businesses gain insight into the behaviours of their customers, so that operations can be modified to serve them the most effective way possible. In addition, CRM allows businesses to recognize the value of customers so that companies can be more responsive to their needs. CRM systems allow companies to:
- anticipate customer needs based on historic trends
- identify needs more effectively by understanding specific customer requirements
- enable effective targeted marketing communications based on customer needs
- enhance customer satisfaction and retention
- increase value from your existing customers
- increase overall efficiency and reducing total cost of sales
- focus on profitable customers and deal with the unprofitable in more cost efficient ways
Click here to compare the top ten most recommended CRM systems.
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