What are our data sources?
We use the data sources on the side for ranking solutions and awarding badges in crm software category. Our data sources in crm software category include;
CRM (Customer Relationship Management) software supports sales departments track all sales related interactions in a single system.
CRM is one of the most important software used by businesses as it is a key determinant of sales efficiency. From SMEs to large banks to consultancies, most companies are relying on a CRM to track sales effectiveness and improve sales efficiency.
CRM tracks all data related to existing and potential customers (i.e. prospects or leads) including their interactiond on your company's digital platforms, their interactions with your sales teams as well as other relevant data.
To achieve these, CRM needs to be able to use data from and provide data to your company's ERP, analytics, marketing automation as well as customer service systems.
CRM is also called SFA (Sales Force Automation).
To be categorized as CRM software, a product must be able to:
AIMultiple is data driven. Evaluate 575 services based on
comprehensive, transparent and objective AIMultiple scores.
For any of our scores, click the information icon to learn how it is
calculated based on objective data.
*Products with visit website buttons are sponsored
We use the data sources on the side for ranking solutions and awarding badges in crm software category. Our data sources in crm software category include;
review websites
social media websites
search engine data for branded queries
According to the weighted combination of 7 data sources
Salesforce Sales Cloud
ActiveCampaign
HubSpot Sales Hub
monday.com
Airtable
Taking into account the latest metrics outlined below, these are the current crm software market leaders. Market leaders are not the overall leaders since market leadership doesn’t take into account growth rate.
Salesforce Sales Cloud
ActiveCampaign
monday.com
HubSpot Sales Hub
Airtable
These are the number of queries on search engines which include the brand name of the solution. Compared to other Sales categories, CRM Software is more concentrated in terms of top 3 companies’ share of search queries. Top 3 companies receive 139%, 71% more than the average of search queries in this area.
75 employees work for a typical company in this solution category which is 54 more than the number of employees for a typical company in the average solution category.
In most cases, companies need at least 10 employees to serve other businesses with a proven tech product or service. 375 companies with >10 employees are offering crm software. Top 3 products are developed by companies with a total of 70k employees. The largest company building crm software is Salesforce with more than 40,000 employees.
Taking into account the latest metrics outlined below, these are the fastest growing solutions:
Salesforce Sales Cloud
HubSpot Sales Hub
monday.com
ActiveCampaign
HubSpot CRM
We have analyzed reviews published in the last months. These were published in 4 review platforms as well as vendor websites where the vendor had provided a testimonial from a client whom we could connect to a real person.
These solutions have the best combination of high ratings from reviews and number of reviews when we take into account all their recent reviews.
This data is collected from customer reviews for all CRM Software companies. The most positive word describing CRM Software is “Easy to use” that is used in 12% of the reviews. The most negative one is “Difficult” with which is used in 4.00% of all the CRM Software reviews.
According to customer reviews, most common company size for crm software customers is 1-50 Employees. Customers with 1-50 Employees make up 56% of crm software customers. For an average Sales solution, customers with 1-50 Employees make up 42% of total customers.
These scores are the average scores collected from customer reviews for all CRM Software. CRM Software is most positively evaluated in terms of "Overall" but falls behind in "Likelihood to Recommend".
This category was searched on average for 89.1k times per month on search engines in 2022. This number has decreased to 87.2k in 2023. If we compare with other sales solutions, a typical solution was searched 291 times in 2022 and this decreased to 284 in 2023.
According to a report by Pactera Technologies and Nimdzi Insights, in 2018, 53% of enterprises leveraged some form of AI in their CRM systems. Below are the top four ways of relying on AI technologies to transform CRM:
A CRM (Customer Relationship Management) system tracks a company’s sales-related interactions with customers. It aims to increase sales efficiency and improve business relationships by maintaining customer relationships, facilitating processes, and improving profitability.
Wikipedia defines CRM as:"Customer relationship management (CRM) is an approach to manage a company's interaction with current and potential customers "
CRM data can be used to understand customers better and discover their needs or styles to personalize the customer communication or the products offered to the customer. Sales history, customers' online interactions and requirements of similar customers can be used in recommendations
Product recommendations are personalized in most advanced companies. As a real-life example, Microsoft has integrated Azure ML into Dynamics 365. The model computes relationships between customers and the products they purchase. The CRM system can show suggested products to sell. Users can rate these suggestions to improve recommendation performance. Salesforce, another vendor, states that personalization can improve sales by 10%.
Communication with customers is harder to personalize automatically. However, there is already multiple companies striving to support sales personnel with customer specific communication suggestions
According to research by Dun & Bradstreet, 91% of data in CRM systems is incomplete, 18% is duplicated, and 70% is rendered stale each year.
Advanced analytics models can identify potential issues, clean duplicate data, look for incomplete data in other systems or suggest actions to update potentially stale data in the CRM system. It can also detect the anomalies in the CRM data and notify the users to correct the errors.
Virtual assistants are application programs that understand natural language commands and complete tasks for users. They access employee calendars, notes, and information, which provides them enough information to schedule new meetings, send reminders, and assist specific tasks that can be automated.
Besides employee support, call routing can be optimized using CRM data. Customer data can be used to cluster customers with similar behaviors. Natural language processing can be used to direct customers to agents who are more likely to have a positive interaction with that customer.
A CRM system collects all data related to existing and potential customers. It allows sales personnel to set themselves reminders, prioritize accounts and track their progress. Advanced CRM software also analyze customers’ interaction histories and their sales data. From these insights, CRM systems identify the needed services and products for customers. Overall, CRM helps companies understand their customers better. This leads to improved customer relationships and increased sales efficiency.
A CRM system can:
Sales in the past was viewed as something of an art, a skill that best sales people possesed. Something a bit magical. Metric collection was made at a high level and customer interactions were not recorded. This made sense until 2000s as most meetings were either face-to-face or on a phone and the technology to record and analyze such verbal exchanges was not available. However, today's sales relies on emails, in most companies, inside sales teams make up the majority of the sales personnel. Since their interactions can be recorded and analyzed at limited cost, CRM systems have become increasingly useful, bringing science to the sales process.
Gartner forecasts that by 2021, CRM will be the single largest revenue area of spending on enterprise software. From SMEs to large banks to consultancies, most companies use a CRM system to track their sales.
Salesforce, one of the leading vendors, states that companies can improve their revenue by 25% and sales productivity by up to 35% with a CRM. A CRM system helps to focus on company relationships, including customers, suppliers, and employees. Companies use this solution to find new customers, provide support services, and increase sales efficiency.