28 CRM statistics you need to know for 2024

For startups and small business owners, the buzz around CRM systems can often seem like a cascade of jargon and sales pitches. You may even be left wondering about the real benefits of an effective CRM strategy for your business.

Fortunately, if you’re just after the facts, we have sourced the top statistics from across the CRM industry. 

We have found 28 critical CRM statistics that can help you make an informed, strategic choice about which CRM system to choose for your businesses. These figures are backed by evidence and industry insights, and will illuminate the advantages of embracing a modern CRM platform. 

The CRM statistics you need to know

These statistics provide a clear picture of how CRM systems impact businesses, from bolstering customer retention to influencing marketing strategies.

CRM stats for customer retention

• CRM adoption and customer retention: using a CRM system can provide you with a 27% increase in customer retention rates and enhance relationships in 74% of businesses (Five CRM). This can greatly enhance your customer lifetime value. Furthermore, 47% of CRM users attest to its positive impact on customer retention (Zippia).
• Data organisation and customer experience: CRM systems are a crucial aspect when creating a consistent customer experience, which is more important now than ever as 70% of customers expect seamless cohesion across a business’s marketing channels (Salesforce). 

CRM stats for marketing and sales

• Impact on conversions: the implementation of CRM systems can escalate conversion rates by a staggering 300% (Finances Online). 
• Impact on revenue: In another study by Freshworks, businesses reported that their sales revenue increased by 21-30% after implementing a CRM platform.

CRM stats for data security

Data breaches have become an unfortunate reality, so businesses must be acutely aware of the potential risks associated with managing sensitive customer information. The importance of choosing a secure CRM solution cannot be overstated. 

• Data accuracy and organisation: while facing over 300 million fraudulent sign-in attempts daily, CRM systems are integrating add-ons and solutions to bolster security measures. Microsoft Dynamics 365 Fraud Protection is one such example designed to combat fraudulent transactions (Microsoft).

Opt for a CRM system that prioritises data security and offers comprehensive encryption protocols and regular security updates. We’d recommend Salesforce, Hubspot or Zendesk as they can help to protect the confidentiality and integrity of your customers’ information.

Trends and innovations in CRM

• Adoption trends: CRM stands among the top three tools for creating personalised customer interactions, fostering loyalty and enhancing marketing return on investment (Martech). Moreover, the future potential showcases an estimated ROI value reaching as high as 30 to 1 (CRM.org).
• Industry-specific CRM market share: professional services claim the largest market share in industry-specific CRM, covering close to 30% of the CRM market (Statista).
• Business adoption statistics: a substantial 91% of medium-sized businesses with 10 or more employees use CRM systems, and 65% of companies adopt CRM within five years of launching (Grand View Research). Additionally, 87% of businesses utilising CRM prefer cloud-based CRM programs (Software Advice). 
• Popular sales tools: the most popular sales tools for businesses include CRM software, social prospecting, and email engagement. The last two are features you can also integrate with your CRM to stay ahead and hit all three (Martech).

Challenges and solutions

• Usability and platform switches: 23% of businesses highlight manual data input as a significant obstacle during CRM implementation and usage (HubSpot).
• Implementation issues: Less than 40% of CRM customers achieve end-user adoption rates above 90%(Wheelhouse).
• Addressing incomplete data: Salesforce’s estimation that 91% of CRM data is incomplete underscores the crucial need for data organisation and accuracy to maintain successful CRM operations.

While CRM systems undoubtedly face challenges, these hurdles are not insurmountable obstacles but rather opportunities for improvement.

CRM market overview

The demand for CRM software in the United Kingdom (UK) has been on the rise in recent years, and is about to explode in the next 3-5 years.

Analyst insights from Statista confirm that a new surge of UK customers are actively seeking software that delivers a holistic view of customer interactions, and want to be able to analyse customer data to improve the customer experience and increase sales. 

Additionally, there is a growing preference for cloud-based CRM software that allows for accessibility and scalability.

The UK CRM software landscape is taking huge technological strides in the realms of artificial intelligence (AI) and machine learning (ML). AI and ML capabilities within CRM systems learn and adapt over time. 

Through iterative learning from data inputs and user interactions, these technologies continuously refine their algorithms, ensuring that the CRM platform evolves in tandem with changing customer preferences and market dynamics.

Simultaneously, mobile CRM solutions are gaining ground, empowering sales teams with full access on the go.

The revenue in the CRM segment of the software market in the UK has been forecast to continuously increase to a total of £1.9 billion (⬆️ 55.44%) between 2024-2028. Due to projections indicating a remarkable annual growth rate of 11.64%, the market is set to peak in the region of £57 billion globally. 

Clearly, those in the CRM software business are set to enjoy a period of tremendous growth. Now, more than ever, is the ideal moment to integrate a CRM in your small business. You’ll be able to enjoy far more sustainable growth and ROI (compared to manual processes), enhanced customer relationships, and a competitive edge in the marketplace.

Key benefits of CRM for SMEs

CRM is currently the fastest-growing software in the digital marketing world according to Martech, and implementing CRM tools can offer a plethora of advantages for small and medium-sized enterprises (SMEs). For example:

• Enhanced operations: CRM systems streamline and centralise crucial business processes and they consolidate customer data, communications, and sales pipelines in one accessible platform. Teams use them to collaborate seamlessly, leading to smoother and faster workflows.
• Targeted marketing and sales: with CRM integrations that can provide detailed customer insights at their fingertips, SMEs leverage CRM functionalities to tailor marketing campaigns and sales strategies. Targeted and personalised approaches based on customer preferences result in higher conversion rates and increased sales, and can afford you more time to optimise resource allocation for maximum impact.
• Improved customer service: CRM tools empower SMEs to deliver exceptional customer service experiences. Access to comprehensive customer history enables swift issue resolution and proactive engagement. Prompt responses and personalised interactions foster stronger customer relationships, enhancing loyalty and retention rates.
• Cost savings: contrary to concerns about initial investments, CRM implementation often yields substantial cost savings. Automated workflows and data-driven decisions also mitigate operational inefficiencies while also reducing business overhead costs. Just 12% of a company’s marketing budget is typically spent on CRM software in 2022, according to Finances Online. In addition, Nucleus Research reports that it yields an incredibly high ROI rate: businesses can expect an average return of £6.85 for every £1 invested.
• Better data-driven decisions: CRM tools equip SMEs with valuable data analytics and reporting capabilities. From inventory management to forecasting sales trends, insights derived from customer data aid with informed decision-making across projects and departments.

CRM implementation best practices

Businesses should view CRM implementation as a strategic investment that, despite initial complexities, pays substantial dividends in the long run. 

• To address challenges related to platform switches, organisations can conduct thorough training programs and provide ongoing support to enhance end-user adoption rates. 
• Leveraging automation features within CRM systems can substantially reduce the burden of manual data input, freeing up valuable time for teams to focus on impactful, strategic activities.
• To overcome the issue of incomplete CRM data, businesses can implement data quality management practices, ensuring regular data cleansing and updates. 
• Integrating CRM with other business tools and data sources can enhance the completeness and accuracy of the information within the system. 
• Embracing user-friendly CRM interfaces and platforms can mitigate complexity concerns, making it easier for teams to navigate and utilise the system effectively. 

Challenges associated with CRM implementation can be effectively addressed through a combination of strategic planning, continuous training, and the incorporation of innovative solutions. This can ultimately solidify the CRM’s status as a powerful tool for business growth and enhanced customer relationships.

Conclusion

These statistics illustrate the multifaceted impact of CRM systems on various aspects of business operations. With a modern CRM platform, you can transform your customer retention, enhance your marketing, navigate the challenges of customer data security, and build business resilience for future challenges. 

To find out more about CRM software, or understand the best options for a small business to choose from, we recommend taking a look at our pick of the best CRM systems for small businesses.