18 CRM Statistics You Need to Know for 2020
- CRM software is now the biggest software market in the world and the growth isn’t slowing down. In fact, CRM is now expected to reach more than $80 billion in revenues by 2025.
- One of the key factors behind the growth of CRM is accessibility. Companies want access to customer data in real-time, with mobile and cloud solutions leading the way.
- From customer service and email marketing to personalization, companies now expect to be able to connect platforms and technologies with customer data, in order to provide a more personalized experience.
The CRM industry continues to grow at a staggering rate, and each year new statistics are reported based on CRM trends.
CRM is now at the heart of every growing business.
In 2019, we saw increased use of CRM software on mobile devices.
This was aided by businesses increasingly adopting cloud based CRM solutions, allowing their employees to access the software anywhere they go on the smart device of their choice.
Those who have embraced these technologies have seen a huge improvement in both the adoption of CRM software by their employees and the meeting of sales quotas – And according to Buyer Zone (now acquired by Business.com), 91% of companies with more than 11 employees now use CRM software.
But, which statistics should you pay close attention to?
And moving forward in 2020, what will happen?
Don’t worry, we’ve got you covered.
In this data-driven blog post, we take a look back at some of the most important CRM software statistics released last year, the reasons behind them and the impact it will have on your business in 2020 and beyond.
The rise of mobile CRM
Since the very early days of CRM, some businesses have struggled to get employees to adopt and use the software. However, with increasing use and dependence on mobile technology those companies using mobile CRM solutions are seeing far higher adoption rates.
Offering mobile CRM access does not just increase use of the software, but also the productivity of the workforce. Statistics have shown a rise in productivity of around 15%.
And it doesn’t stop there. Users of mobile CRM are achieving better results!
Research by Innoppl Technologies showed that 65% of sales reps who have adopted mobile CRM have achieved their sales quotas. While only 22% of reps using non-mobile CRM have reached the same targets.
Access from multiple devices
This information is filtering down to both businesses and their employees.
The chart below, from Software Advice, shows that 48% of CRM users now access their software from a smartphone, with 45% accessing from a tablet.
Although this figure is still lower than that from a laptop or desktop, this rising use from mobiles and tablets means that 81% of users are now accessing their CRM software from multiple devices.
Increase in cloud-based CRM Solutions
It’s this increasing need to access their software from multiple devices and locations that has led to the rise of using cloud based CRM solutions.
In 2008, only 12% of businesses used cloud-based CRM – This figure has now increased to 87%!
Although first believed to only benefit smaller businesses, SaaS adoption is growing fast amongst the enterprise. For this reason it is thought that cloud based revenue will likely make up almost 50% of the projected $31 billion CRM sector.
But, what does 2020 and beyond have in store?
CRM growth not slowing down
At the end of 2018, Customer Relationship Management (CRM) software revenues overtook database management systems to become the largest of all software markets. And with revenues expected to reach over $80 billion by 2025, it’s no surprise that CRM is the fastest growing software market.
So, where do these projections come from?
Each year, 70% of businesses state they plan to increase spending on technology. The figure remains the same in 2020.
This year on year investment is seen necessary by most businesses in order to keep up to date with the fast changing digital technology industry.
This is highlighted by the fact that just 2% of businesses plan to decrease spending this year.
And this trend is unlikely to change as companies invest more in CRM to become GDPR compliant.
We can see that CRM software leads this technology investment, with 49% of businesses planning to increase spending. This is not just to keep up with their competitors, but also as a result of improving sales.
In the chart below, we can see a more in depth breakdown of how businesses plan to invest in CRM related technology.
Topping this table are the 47% of businesses planning to increase spending on help desk and customer service software.
The investment in customer service software shows the intention of businesses to retain existing clients. By not only improving customer service, but also providing online self-help options.
It’s not only customer service software that companies are investing more in.
The largest share of the digital marketers’ wallet in 2020 goes to email marketing, as 60% of surveyed respondents plan to increase their email marketing budget, according to a study by StrongView. This makes a lot of sense given email’s consistently highly-rated ROI – a $51 return on every $1 spent.
Not only are marketers’ seeing increased revenues, but as the customer experience takes the top spot in marketing priorities, delivering personalized marketing messages through email marketing is a sure fire way to beat the competition and build a brand that consumers trust.
(Not sure how to personalize your email campaigns? Use these B2B email marketing examples to inspire you.)
2020 is the year of the customer (again)
All of these statistics and research point towards 2020 being the year of the customer.
We live in a world where 80% of consumers will research your product online before making a purchase, 87% will use their mobile device to shop and will use several channels to interact with your brand.
In order to engage potential customers across multiple devices in multiple channels, you need data. And with CRM software, you are able to create a 360 degree overview of each person you connect with.
The CRM industry has seen staggering growth in recent years.
And 2019 was no different. Last year we found out that overall CRM usage increased from 56% to 74%.
Broken down this statistic showed that 91% of businesses with over 11 employees now use CRM, compared to 50% of those with 10 employees or less.
This growth was in no part down to how effective its users found it to be. With 74% of them saying that CRM software has improved their access to customer data!
Businesses will continue to increase investments in CRM solutions. Fueled not only by improving results, but also a need to keep up with their competitors and create a great customer experience. This is all expected to turn the CRM sector into a $80 billion industry by the end of 2025.
What should you do?
Well, if you are a business who is yet to adopt CRM – now is the time to get it, with half of your competitors already on board. Also, if you only have your CRM solution via a PC or laptop, its time to go mobile.
When evaluating your CRM software options, it’s best to give your employees the possibility to work anywhere and on the device of their choosing.
Are there any important CRM software statistics we missed in this post?
Let me know by leaving a comment below.
Learn all about how to get started with CRM software by downloading our free 25 page CRM Buyers’ Guide below.