CRM Spending to Soar This Year, Study Finds

Share this content:
Spending on customer relationship management will grow to $10.4 billion by the end of the year, representing a 167 percent increase from the $3.9 billion spent in 2000, according to a study by eMarketer.

The study, "The CRM Report," states that even during a slow economic period, the adoption of CRM solutions will move ahead at an aggressive pace as organizations spend targeted time, effort and money to retain and leverage their customer base. The report also found that companies are focusing on the integration of telephony and Web-based customer service channels as their top CRM priority.

Other key findings include:

•The United States and Europe dominate the worldwide market for CRM applications.

• For every $1 a business spends on CRM software, it also spends $2 to $5 on implementation and maintenance over the lifetime of the product.

• Nine of every 10 interactions that a company has with a customer are not transactions; instead, they are some form of communication.

• Companies can increase profits by more than 25 percent if they reduce customer defections by just 5 percent.

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above