4 Statistics that Show Why We Must Bridge the Gap between Collecting Customer Data & Actually Using It

I have a challenge for you: Ask your sales or business development professionals how many sales they’ve won because of your CRM system.

Chances are, if you’re like most organizations, you’re going to hear crickets or maybe even spy the slightest eye roll.

We base our hypothesis on a study by CSO Insights. They report that more organizations than ever have CRM systems. In fact, it’s almost ubiquitous considering 80% of the more than 1,000 companies they surveyed have a CRM solution. But only a third have adoption rates of at least 90%, this is almost a 10% drop over the past decade. This is concerning, especially now that more organizations than ever have CRM system.

We believe CRM isn’t embraced by business development and sales professionals because, frankly, they don’t think it gives them a good return on their investment of time and resources. At best, they consider it a waste of time, at worst, they think it hinders them. Consider brand new research by Accenture that reveals:

  1. 59 percent of global sales executives say they have access to too many sales tools and are bombarded by too much disaggregated customer data to be effective.
  2. 55 percent of sales representatives consider their sales tools to be more of an obstacle than a facilitator of sales performance.
  3. Sales productivity has decreased from 41 percent five years ago, to 36 percent today.
  4. 58 percent of sales executives are concerned about achieving this year’s sales targets.

It’s evident that most companies are struggling to drive value from their CRM tools. Yet CRM is showing the highest growth of all the sub-segments of the cloud-computing industry, according to Gartner. That’s probably because we all know customer data is useful, so we invest tools to collect it. But the statistics show that there’s a huge disconnect between gathering information and transforming it into something sales professionals and business development professionals can use to achieve their objectives.

Customer Relationship Automation bridges the gap.  It transforms data into information that sales and business-development professionals can easily understand and take action on. Plus, they don’t have to do any mundane data entry. As a result:

  • This saves the typical sales professional 5.5 hours per week. They no longer have to log activities and update contacts. This, in turn, saves companies an average of $13,200 annually per CRM user.
  • There’s no room for human error or apathy. The data is always spot-on accurate and up to date.
  • Sales professionals don’t have to spend time downloading data or figuring out how to use it. The customer relationship automation system automatically delivers it to their email or mobile device in a package they can use immediately to accomplish their goals or identify an opportunity or client that’s at risk.

By embracing this technology, companies will have an edge on 70% of the marketplace that, according to this Accenture study, are not mining key customer and prospect information from CRM systems.

If you’re interested in making your CRM something that your sales and business-development teams will embrace, because it wins sales instead of wasting time, you’ll want to learn how to solve your CRM adoption problem.

Related Posts

Leave a comment