Forrester Data Shows High CRM Adoption But Low Satisfaction

Every year, our clients at Forrester ask us about trends in customer relationship management (CRM) adoption. To help us answer these questions, Forrester fielded a survey to ask CRM decision-makers around the world about different aspects of their company’s overall CRM strategy. You can find all our insights in our report, Customer Relationship Management Market Insights, 2023.

Here are some key takeaways:

• CRM is widely adopted. Seventy percent of surveyed organizations have adopted CRM for customer service, 64% have adopted CRM for B2B marketing automation and SFA, and 62% have adopted CRM for field service.
• Some industries have strong CRM adoption. For example, 71% of manufacturers have adopted CRM and 75% of business services firms have adopted CRM, yet adoption varies across industries.
• Organizational spending for CRM is on the rise. Fifty-seven percent of surveyed organizations indicate that spending on CRM will increase in the next 12 months.
• Organizations purchase CRM for improved CX coupled with efficiency gains. Seventy-five percent of global business and technology professionals identified improving the customer experience (CX) as a high priority for their organization. A significant portion of CIO purchase influencers considered improving efficiency and improving productivity and effectiveness as primary business drivers behind their organization’s technology purchase,
• CRM initiatives fail to deliver on expectation. Organizations’ satisfaction with their current CRM solution is low overall, yet vendor loyalty remains. The majority of surveyed organizations plan to remain with their current vendor.

I’d like to know your impressions of the CRM market. Reach out to me via inquiry or brief me on your CRM solution to continue the conversation.