For sales and marketing professionals, CRM (customer relationship management) systems are a way of life. Regardless of if you love your CRM or it’s not your favorite, it’s likely you use it often, and are very aware of how the tool helps you store and organize data and contribute to sales predictions. CRM systems are constantly evolving, as is the way sales professionals use them to accurately predict and further their sales goals.
For example, 30 years ago, sales was all about the cold call. Now, it’s all about email, social media, and online systems that connect potential clients with salespeople, such as LinkedIn. Cloud technology and mobile usage are also having a major effect on how businesspeople use CRMs.
CRM statistics predict and report changes in sales and products each year. Using these, professionals can understand how the business of sales ebbs and flows with the times. Seeing this information can help spur new and innovative ways to better sell and increase your ROI.
So, as we enter a new year marked with the impact of Covid-19, here are some CRM and sales statistics you should know for 2021 — and the key takeaways to note from each. These can ensure you reflect on the past, present, and future, and in turn, help you to increase your company’s profitability moving forward.
1. Sales reps will be able to shift focus to actually selling thanks to advanced automation/tech tools
According to Salesforce’s research on almost 3,000 sales professionals, “Triple-digit growth is expected in areas such as predictive intelligence (118%) and lead-to-cash process automation (115%) in the next three years. Soon, product recommendations, lead scoring, email responses, and even day-to-day administrative tasks will be autonomously integrated so that sales reps can focus on delivering the best customer experiences.”
This stat makes sense. In 2021, automated services and tech tools like sales prospecting tools, email finders, and more will help sales reps avoid manual data entry and tedious tasks, allowing them to focus more on the sales experience itself and interacting with clients. This should increase both sales and profit.
A great example of how this is already manifesting is through our browser extension, Leadjet, which helps salespeople work faster and more efficiently by automatically adding LinkedIn prospects in a single click to your CRM without having to take the time to enter the data manually. It ensures that sourcing prospects on LinkedIn takes about half the time. This means that salespeople can focus on the main goal: selling (and earning).
Feel free to sign up for Leadjet and get your first 14 days free, or book a demo to see how it works. Our browser extension works with CRMs like Hubspot, Salesforce, Copper, Pipedrive, plus email enrichment tools such as Dropcontact, Hunter, Skrapp, Snovio and Kendo.
2. Sales professionals that use CRM tools will hit their sales targets
Don’t have a CRM? You should consider getting one in 2021 (or figuring out how to best utilize it if you do have one), especially if you hope to hit your sales goals. According to Pipedrive’s sales statistics from a 2019-2020 sales report, “61% of people who use a CRM hit their annual sales target in 2019, compared to 52% who don’t use a CRM.”
Although we don’t have data from 2020 quite yet, we’re willing to bet that those using a CRM are likely hitting those metrics, so keep this in mind for 2021.
3. CRM systems will continue to grow
If you thought the CRM market was big now, it will only continue to grow.
“By 2027, the CRM market is expected to reach $113.46 billion,” according to Fortune Business Insights. If you’re in sales, this likely means that CRM systems will continue to change and modernize in order to best accommodate this growth, helping you to do your job in a more productive manner.
4. Use the advanced CRM features for better sales results
Many CRMs feature advanced tools that can help automate processes, making things more efficient. In fact, according to McKinsey & Company, sales teams that use advanced CRM features like sales automation “Consistently report increases in customer-facing time, higher customer satisfaction, efficiency improvements of 10 to 15%, and sales uplift potential of up to 10%.”
The takeaway? If your CRM offers these tools, use them! It may seem like more work at first, require some additional training, or these features may come at an additional cost, but the potential of increasing your efficiency, customer satisfaction, sales, and profits make it all worth it.
5. Cloud-based CRMs are the future
According to a 2019 survey by Select Hub, “63% of companies prefer cloud CRM and 98% are open to the idea.” We can only assume this grew in 2020, and will continue on the uptick for 2021 as cloud-based systems and remote work are only becoming more and more popular. This brings us to our next point.
6. As the pandemic continues, cloud-based CRMs will continue to thrive
According to Market Research Future, “CRM deployment over cloud increased by 87% in 2020.” And unfortunately, the global Covid-19 pandemic is far from over. 2021 will likely see more cloud-based CRM systems as people continue to work remotely and connect virtually.
7. Mobile CRM solutions will offer tangible results
It’s no secret that from teens to retirees and everyone in between, we’re all always looking at our phones. Sales professionals are no different. This is why mobile CRM solutions are a handy resource for quick data entry, access to metrics during a sales meeting, or simply to take advantage of a long subway commute to do some work in your CRM.
According to a 2021 study by Super Office, “65% of sales representatives who adopted mobile CRM were able to reach their sales quotas.”
If your company doesn’t already work with a mobile CRM system, 2021 is the year to invest.
8. Properly using your CRM will help not only your internal team, but will benefit your customers too
Obviously, CRM systems can help your sales team from salespeople to managers and beyond. But the fact that your team is using a system that will help them organize data and create predictions benefits potential clients, too.
In fact, “Customers are likely to spend 20% to 40% more when they engage with the company using CRM, “According to VARStreet. The better your team adapts to using the CRM, making sure to consistently enter relevant data and best utilize reports/metrics, the better they’ll sell, and customers can directly benefit from this increased organization and communication.
9. As CRM processes improve, sales cycles will get shorter
We discussed earlier that increased CRM automation tools will help increase customer satisfaction and sales. According to Nucleus Research, “Data accessibility for salespeople shortens their sales cycles by 8-14%.” This means your sales cycle is not only more organized and focus using a CRM, but also shorter. A shorter sales cycle allows deals to progress quicker. This, in turn, allows your company to close deals faster, earn more money, and focus on new deals.
10. Don’t worry if you’re not seeing increased sales just yet
If you’ve recently incorporated a CRM into your company, it’s normal to want to see immediate results. But increasing sales and profit takes time and hard work.
According to Force Manager, “It takes about one to six months before a traditional CRM can be implemented. It takes another three to five years before a company gets a good ROI.”
So don’t be alarmed if it takes time to increase your ROI. You and your team will need to have a solid understanding of how to best use and implement the CRM before it can offer results in many cases.
11. Sales professionals should use social media (in conjunction with their CRM) for increased results
According to YokelLocal, “Social CRM can improve customer retention by up to 27%.” So don’t hesitate to incorporate social media into your sales strategy. It will increase communication, interaction, and retention for your customers. It can also help immensely when it comes to the prospecting process, especially in 2021 when virtual and online communication may be taking the place of physical, in-person meetings.
Consider social media tools that are especially apt for contacts and prospecting such as LinkedIn if you aren’t sure where to start.
CRM Statistics - Bottom Line
Sometimes statistics are just numbers. But when it comes to CRM and sales statistics, understanding these numbers and thoughtfully analyzing them can help you figure out how to best move forward in 2021. Looking at a simple statistic or prediction can eventually lead you to make profitable and productive sales and CRM decisions this year.