SugarCRM asks: Are companies on the cusp of a customer relationship crisis?
In the first ever CRM and Sales Impact Report, SugarCRM asks 1,000 sales leaders critical questions about their CRM, sales, technology and ability to uncover crucial customers insights. Broken down into four sections, their research reveals a picture of companies struggling with platforms and data practises riddled with blind spots and roadblocks.
The State of CRM
With CRM at the heart of customer experience, this report exposes the issue with CRM systems and the data it contains. A considerable number of those surveyed admitted that their CRM is too complex, unintuitive and not user-friendly costing them potential revenue opportunities.
The Cost of the Status Quo
So if the CRM is holding companies back, how does this affect the day-to-day? SugarCRM shows the cost of wasting valuable time, counter-productivity and poor return on investment when breaking down the problem behind their CRM systems. Asking the most important question, can companies afford to leave their sales people without the tools they need to compete?
An important finding in their research are the difficulties that arise when companies are unable to extract the full value from their CRM system. The overall consensus here was that the low resolution leads from lack of insightful customer data across their marketing, sales and service systems results in higher churn rates. Do you know how much on average it is costing organisations in churn alone?
Customer Clarity & AI
In order to stay competitive, companies need to significantly improve the accuracy and completeness of their customer data to improve retention, revenue and business outcomes. To find out if artificial intelligence (AI) is the way forward, download the report here.