50+ CRM statistics you should know in 2024
From startups to the Fortune 500, customer relationship management (CRM) has become the cornerstone of modern-day business strategy. In 2024, AI-powered CRM software will fundamentally transform how companies interact with their customers, personalize marketing messages, and manage sales pipelines.
To understand the business impact of CRM software, Freshworks surveyed 600 business owners and professionals in sales, customer service, IT, and marketing. We asked respondents about their CRM adoption and usage, as well as the operational efficiency and revenue growth achieved from using a CRM platform.
Keep reading as we examine key CRM statistics and trends in 2024, exploring how CRM software is driving sales success, enhancing customer service, and optimizing business operations.
Key CRM statistics
73% of businesses will use CRM software in 2024.
94% of businesses in tech and 71% of small businesses use a CRM system.
Businesses that use a CRM are 86% more likely to exceed their sales goals than those that don't.
Most businesses saw their sales revenue increase by 21-30% after implementing a CRM platform.
81% of businesses plan to increase their CRM budget over the next year.
Most businesses find that CRMs save their employees 5-10 hours per week.
Most businesses find that CRMs shorten their average sales cycle by 8-14 days.
Nearly half of businesses (49%) saw their customer acquisition cost (CAC) decrease by 11-20% with a CRM platform.
65% of businesses use a CRM system with generative AI, and 70% use a mobile CRM.
Businesses that use a CRM with generative AI are 83% more likely to exceed their sales goals than those that don't.
According to respondents, CRM software's biggest benefits are increased sales revenue (57%), improved customer satisfaction/retention (53%), and higher-quality customer service/support (49%).
73% of businesses use CRM software in 2024
CRM software has emerged as an essential tool for businesses in all industries. With 73% of businesses adopting CRM tools in 2024, it's clear that organizations are recognizing the value they bring to the table.
Tech companies lead the way, with 94% using CRM software to drive sales efficiency and enhance customer relationships. Beyond tech, businesses in the manufacturing (86%), education (85%), healthcare (82%), and human resources (81%) industries are the biggest CRM users, according to the survey results.
Small businesses are also getting in on the action: 71% of small businesses (500 or fewer employees) use a CRM system. A CRM lightens the load for small-business owners by streamlining and expediting tasks throughout the sales funnel. From sending personalized follow-up emails to tracking customer interactions and generating sales reports, it simplifies operations. This allows small-business owners to channel their efforts into what's most essential: nurturing relationships and boosting sales.
Businesses that use a CRM are 86% more likely to exceed their sales goals
97% of businesses that use a CRM system met or exceeded their sales goals in the past year, and only 3% fell short. Moreover, businesses that use a CRM are 86% more likely to exceed their sales goals than those that don’t.
Companies using CRM software are also witnessing a substantial uptick in sales revenue. Since implementing a CRM platform, most businesses surveyed saw their sales revenue increase by 21-30%.
As a result, 81% of businesses plan on increasing their CRM budget over the next year, with over a third of businesses (34%) planning to increase their budget by 11-20%. Businesses acknowledge the power of CRM platforms to centralize customer data and drive the conversion of a significantly higher volume of leads.
CRM software saves employees 5-10 hours per week
CRM software is instrumental in elevating sales productivity. 94% of businesses have witnessed a surge in sales productivity since adopting a CRM platform, with a notable 44% experiencing a productivity increase ranging from 10-29%. Further, over a third of businesses surveyed (34%) find that CRM systems shorten their average sales cycle by 8-14 days.
CRM software not only enhances productivity but also improves efficiency. For 43% of businesses, it's a game-changer, shaving off 5-10 hours of employee workload each week on average. How? Respondents say by automating repetitive tasks (50%), centralizing customer data for easy access (46%), and streamlining communication with prospects and customers (41%).
And it's not just time saved; it's money saved too. 91% of businesses report a decrease in their customer acquisition costs (CAC) post-CRM implementation, with nearly half witnessing reductions between 11 and 20%. These insights show how CRM platforms can drive tangible results in a world where every dollar counts.
Businesses primarily use CRM software to improve customer service
According to our survey findings, the driving force behind CRM implementation is clear: 35% of respondents cite enhancing customer service as their primary motivation. Close on its heels, nearly a quarter (24%) implemented a CRM to increase sales revenue, while 14% signed up to enhance their data analytics.
The dividends of CRM adoption are tangible and far-reaching. We asked respondents about the most significant benefits of CRM software. Increased sales revenue (58%), improved customer satisfaction/retention (53%), and higher-quality customer service (49%) stood out as the crowning achievements of CRM usage.
CRM software can also come with its fair share of hurdles. We asked respondents about the biggest challenges of implementing a CRM system. Training and adoption by users (25%) and integration with other tools and systems (19%) were the top two struggles, while cost, usability, and the absence of essential features posed lesser concerns.
To tackle the challenge of user training and adoption, businesses can invest in training programs tailored to different user roles and skill levels, coupled with ongoing support and incentives for engagement. Similarly, addressing integration issues with other tools requires careful planning, involving compatibility assessments, clear communication between teams, and possibly integration specialists to help streamline the process.
93% of businesses saw higher customer retention rates after using CRM software
Customer service reigns supreme as a differentiator for success. According to survey findings, businesses that use a CRM report stronger customer service than those that don't. 86% of businesses using CRM software rate their customer service as “exceptional” or “very good,” compared to 73% of businesses without CRM software.
What’s more, 93% of businesses attest to higher customer retention rates since embracing CRM solutions, and a significant 44% have witnessed customer retention rates surge by 10-29% post-CRM implementation, highlighting the influence of CRM on fostering lasting customer relationships. CRM software empowers businesses to deliver exceptional customer service by facilitating better communication, personalization, efficiency, and performance measurement throughout the customer journey.
65% of businesses use a CRM with generative AI in 2024
Businesses are using AI-driven capabilities to increase customer engagement and drive sales success. Most businesses (51%) name generative AI, including chatbots, predictive analytics, and content creation, as the top CRM trend in 2024. 65% of businesses have already embraced CRM systems with generative AI, reaping remarkable rewards in the process. Businesses utilizing these advanced AI features are 83% more likely to exceed their sales goals and 34% more likely to report exceptional customer service than those that don’t.
Mobile CRM systems emerge as another potent force, with 70% of businesses leveraging the power of mobility to fuel their sales endeavors. The data speaks volumes: Businesses using mobile CRM platforms are 150% more likely to exceed their sales goals, signaling a seismic shift toward flexibility and accessibility in CRM strategies.
Try Freshsales for free today
CRM software has become the linchpin of success for businesses across industries, boosting productivity, improving customer service, and driving sales growth. Looking ahead, the future of CRM software promises even greater opportunities for businesses to thrive. With AI-driven capabilities, industry-specific solutions, and mobile integration leading the way, CRM technology will continue to shape how businesses cultivate relationships with prospective and current customers.
With its intuitive interface, advanced AI capabilities, and seamless mobile integration, Freshsales empowers businesses to sell smarter and close more deals faster. Discover how Freshsales can help your business run smart sales campaigns that automate mundane tasks and convert more leads. Visit Freshsales CRM to learn more and start your free trial today.
Methodology
The CRM statistics in this report are derived from a survey of 600 U.S. business owners and professionals in sales, customer service, IT, and marketing in 47 states. The survey ran from April 18 to 21, 2024. The age distribution of survey respondents: 9.3% were 18-24, 26.5% were 25-34, 35.5% were 35-44, 15.5% were 45-54, and 13.2% were 55 or older. Lastly, 54% of respondents identified as men, while 46% identified as women.
