Boosted by the digitalization of purchasing behavior, but also by the Covid-19 crisis and the spread of remote working, the CRM market has a bright future ahead of it. Estimated at nearly $52.2 billion in 2021, it should reach over $125 billion by 2028.
Still, almost 49% of CRM projects fail due to lack of adoption. To exploit the full potential of their CRM, companies must have sales data at their fingertips. That’s why 78% of companies today are turning to automated data entry (Source: Forrester study for Salesforce).
To help you get a clearer picture of this new trend, we’ve compiled the most impressive stats arguing in favor of automating CRM data entry in companies. Here’s a selection:
Adoption
1. Less than half of salespeople use their CRM on a daily basis.
2. 83% of sales managers admit that their main difficulty is getting their teams to use the software.
3. 23% of people say that manual data entry is the main barriers of using a CRM.
Time saving
4. Sales reps spend an average of 3.4 hours a week entering customer information into CRM.
5. 32% of sales reps spend more than an hour a day on manual data entry.
6. Automated data entry reduces CRM data entry time by up to 70%.
7. Sales and marketing departments lose around 550 hours a year due to insufficient data.
Data quality
8. 92% of salespeople say that data quality is crucial to CRM adoption.
9. 85% of salespeople admit to having missed sales due to incorrect CRM data.
10. Manual data entry errors cost companies an average of 15% in revenue.
11. 40% of sales reps use Excel files and e-mail to store contact information.
12. 72% of companies believe that CRM does not offer a sufficiently complete view of prospect and customer information to Marketing, Sales and Customer Service departments.
13. Better access to and sharing of information in CRM reduces the sales cycle by 8 to 14%.
Sources: Hubspot, Nuclear Research, Experian Data Quality, McKinsey