Just in:
U.S. Compliance Takes Center Stage at OKX Following Industry Jitters // Hong Kong Crypto Exchange Application Stalled by US Lawsuit // Andertoons by Mark Anderson for Fri, 29 Mar 2024 // Following the Money Trail: US and UK Investigate $20 Billion in USDT Transfers Tied to Sanctioned Russian Exchange // First-Ever Fortune Innovation Forum Draws Top Global Leaders to Hong Kong, Promoting Agendas On Collective Cross-Sector Advancement // Infineon and HD Korea Shipbuilding & Offshore Engineering jointly develop ship electrification technology // No running of govt from jail, says Delhi Lt Governor // Simplified Business Moves for Al Reem Island Firms // TUMI Hosts Global Launch Event in Singapore to Unveil Women’s Asra Collection and Announce Global Ambassador, Mun Ka Young // CABSAT 2024 Ushers in 30 Years of Media Innovation // Melco Style Presents “SANRIO CHARACTERS STUDIO CITY CARNIVAL” – Explore a SANRIO World of Unlimited Love and Cuteness // Sunshine’s Debut Features Leave Tech World Scratching Its Head // 2024 Lok Sabha Elections Will Be The Costliest One Till Now In The Whole World // French Leaders Gather for Interfaith Iftar Dinner // Samsung Partners National Heritage Board to Bring a Slice of Singapore’s Cultural Heritage to Samsung The Frame TV // A Tightrope Saudi Walk Towards Net-Zero // Samsung Electronics Launches 2024 Neo QLED 8K, Neo QLED, and OLED Displays to Spark the AI Screen Era // Saudi Arabia Unveils Green Financing Tool to Achieve Net-Zero Goals // Sharjah Chamber Breaks Ground on Final Expansion with New HQ Pact // Aid is at the core of Israel, Palestine struggle to control post-war Gaza //
HomeAsian News by Media-OutreachNew Research From SugarCRM Reveals a Customer Relationship Crisis

New Research From SugarCRM Reveals a Customer Relationship Crisis

Struggling to get a clear picture of their customers, 49% of sales leaders in Australia say their CRM is costing them revenue

 

CUPERTINO,
CALIFORNIA – Media OutReach –
19 February 2021 – Fueled by lack of visibility into customer data, companies
are facing a customer relationship crisis. Fifty-two percent of sales
professionals in Australia believe that their CRM systems are unfit for
purpose, while customer churn is costing mid-market companies an average of
US$5.5M per year each, according to a new CRM and Sales Impact Report from
SugarCRM.

ADVERTISEMENT

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 49%
of Australian sales professionals 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 wake-up
call for companies relying on the market-leading incumbents in CRM with
software that is tuned to steady-state and known customer behaviors.

The research found that
53% of sales leaders are fatigued and frustrated with the CRM admin burden
placed on their sales teams, which is taking them away from customer-facing
activities. Indeed, sales reps are only spending 54% of their time selling. The CRM and Sales Impact Report
also revealed over half of sales reps in Australia (52%) reported their customer churn increased
in the last 12 months, with 52% of
respondents having trouble predicting when customers would churn. And upon reflection, almost half (48%) of
those sales professionals reported not knowing why customers churned.

In addition, 50% of
Australian sales leaders admit that they cannot access customer data across
marketing, sales, and service systems, leaving customer-facing team members
without a clear picture of their customers. The gap in customer data, the
millions of dollars lost to churn, and the lack of insight, prevents sales and
business leaders from acquiring the intelligence they need to make both vital
strategic and tactical decisions. Companies that close the data gaps and
improve the accuracy and completeness of their customer data, stand to improve
retention, increase revenue, and gain more predictable business outcomes.

To download the full CRM
and Sales Impact Report from SugarCRM, including regional data for the US, UK,
Germany, and Australia, visit:

https://www.sugarcrm.com/au/hd-cx/content/crm-sales-impact/.

About SugarCRM

The SugarCRM sales, marketing and service platform helps businesses deliver a high-definition customer experience by eliminating the blind spots, roadblocks and busy work that plagues legacy CRM. For growth companies and anyone who wants to work smarter not harder, Sugar provides the clear view of the customer that teams need to reach new levels of business performance and predictability.


More than 4,500 companies in over 120 countries rely on SugarCRM. Headquartered in Silicon Valley, SugarCRM is backed by Accel-KKR.


ADVERTISEMENT

ADVERTISEMENT
Just in:
Global Audience to Witness Thrill of Dubai World Cup // No running of govt from jail, says Delhi Lt Governor // Andertoons by Mark Anderson for Fri, 29 Mar 2024 // Sunshine’s Debut Features Leave Tech World Scratching Its Head // Emirati Aid Reaches Ukraine as Food Shortages Bite // Melco Style Presents “SANRIO CHARACTERS STUDIO CITY CARNIVAL” – Explore a SANRIO World of Unlimited Love and Cuteness // Samsung Electronics Launches 2024 Neo QLED 8K, Neo QLED, and OLED Displays to Spark the AI Screen Era // Infineon and HD Korea Shipbuilding & Offshore Engineering jointly develop ship electrification technology // Experience Ultimate Shopping Freedom at 4.4 Shopee Spree: Don’t Worry, Shop Shopee! // Simplified Business Moves for Al Reem Island Firms // French Leaders Gather for Interfaith Iftar Dinner // 2024 Lok Sabha Elections Will Be The Costliest One Till Now In The Whole World // Following the Money Trail: US and UK Investigate $20 Billion in USDT Transfers Tied to Sanctioned Russian Exchange // Samsung Partners National Heritage Board to Bring a Slice of Singapore’s Cultural Heritage to Samsung The Frame TV // Universal Language for Healthcare: General Authority Embraces Global Coding System // Saudi Arabia Unveils Green Financing Tool to Achieve Net-Zero Goals // Digital Hub Unveiled: Xposure Launches Platform for Global Photography Community // First-Ever Fortune Innovation Forum Draws Top Global Leaders to Hong Kong, Promoting Agendas On Collective Cross-Sector Advancement // Octa seeks to clarify Forex swap and swap-free accounts // Hong Kong Crypto Exchange Application Stalled by US Lawsuit //