New Research from SugarCRM Reveals a Customer Relationship Crisis
Struggling to get a clear picture of their customers, more than half of sales leaders say their CRM is costing them revenue
Fueled by lack of visibility into customer data, many companies are facing a customer relationship crisis. Forty-eight percent of sales professionals believe that their CRM systems are unfit for purpose, while customer churn is costing mid-market companies an average of $5.5M per year each, according to a new CRM and Sales Impact Report from SugarCRM.
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“Customer behavior has fundamentally changed and businesses around the world are facing a customer relationship crisis”
The research reveals that many businesses lack the necessary tools to provide the kind of customer experience that will keep them competitive. Besieged with status quo CRM systems, sales leaders are struggling to ensure their sales teams are spending enough time with customers and can access the data required to build and maintain these vital relationships. The report surveyed 1,000 sales decision-makers in the US, UK, Germany, and Australia, and found that 52% believe their CRM systems are costing them revenue – demonstrating the extent of the issue.
“Customer behavior has fundamentally changed and businesses around the world are facing a customer relationship crisis,” said Craig Charlton, CEO of SugarCRM. “Sales teams are bogged down with administration and stuck with an inaccurate picture of the customer with little advance notice or insight into customer churn. These findings are a wakeup call for companies relying on the market-leading incumbents in CRM with software that is tuned to steady-state and known customer behaviors.”
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