CRM System Returns $5.60 for Every Dollar Spent
Customer Relationship Management (CRM) applications continue to deliver significant return on investment (ROI), with an average benefit of $5.60 returned for every dollar spent, according to a recent Nucleus Research analysis.
Companies continue to invest in CRM systems, enabling them to drive greater sales and customer service productivity, improve marketing effectiveness, and reduce customer support-related costs.
Nucleus based its research on 70 CRM case studies and noted that while most large and many mid-sized companies have made at least one CRM investment by now, there’s still significant ROI opportunity for further investment.
As CRM vendors deliver more social, mobile and analytics capabilities, and with the rise of cloud CRM reducing cost while speeding up the deployment, organisations have an opportunity to gain even more returns from CRM.
CRM is a good bet for both top-line benefits and bottom-line savings. Nucleus found that the overall financial value the CRM projects studied in their analysis delivered 63 percent direct benefits, such as cost savings or avoided hires, and 37 percent indirect benefits, such as increased productivity or greater customer retention.