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According to a recent business research, CRM industry recorded a whopping $18 billion revenue in the year 2012, which further inflated to 13.7% i.e. $20.4 billion in 2013 with no signs of stopping. Looking at these staggering statistics, the CRM market worth for 2016 is sure to be mammoth. In fact, 2016 is also set to unfold new dimensions of CRM. Here are some prominent CRM stats-trends that we can expect to see in 2016.
Though experts suggest varying numbers, they all tell the same story, i.e. SaaS will be dominating the CRM industry all through 2016. In fact, by the end of 2015, more than half of CRM deployments are expected to move to cloud and by 2025, the number is estimated to soar up by 85%.
So for businesses that are yet to invest in SaaS, 2016 is the right time. Right from analytics to customer database and contact services, everything is available as SaaS.
With cutting-edge and new technologies such as interactive voice response, on-demand video and big data gaining momentum among both SMEs and large enterprises, it is a clear indication for businesses to embrace new technologies to stay ahead of the edge. In fact, of the 80% of businesses that foresee digital commotion in the near future, only 30% are prepped for addressing this commotion. But, staying ahead of this curve means having an edge when it comes to CRM in 2016.
Another core CRM trend to watch out for in 2016, which is expected to drive the statistics exponentially, is the insurgence of social media and tools to monitor it. Today, simply having Twitter and Facebook accounts won’t do any good to businesses, since there is a dire need to measure and analyse their reach and impact on the audience. Social CRM is the answer here. This tool offer businesses with intuitive ways to engage with their customers and prospects. It’s time for businesses to be there where the customers are!
Coming to statistics, Social CRM industry will burgeon to a whopping $9 billion by 2018. Experts tout this as the most fascinating CRM stats predictions by far.
Yes, marketing automation is destined to lead CRM applications surging the growth rate with a 10.7% CAGR (compound annual growth) by 2016 attaining a total market value share of $4.6 billion, predicts Gartner. Marketing automation forms the crux of CRM. In fact, using CRM for your marketing needs helps greatly to curb costs. Importantly, CRM tracks campaign results allowing marketing managers to have better insights into sales cycle.
Mobile CRM solutions and applications available to download will see an exponential growth by 2016. In fact, it is expected to explode by more than 500%. This gives a clear picture as why CRM is turning out to be a hot favourite among SMEs and startups.
CRM trends will keep on evolving over the next couple of years as businesses decide to invest wholeheartedly to improve and personalise customer service. Through 2016, expect to see these aforementioned statistics and trends that will shape up CRM in novel way opening new horizons.
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