ROI of CRM: Accurately Measure How Your CRM Investment Pays You Back
Introduction Gartner valued the CRM market at USD $36.5 Bn. worldwide in 2017 which increased to USD $63.91 Bn. in 2022. While you may be overwhelmed by all the hype around it, you would want to accurately measure the ROI of CRM and understand how much will your investment pay back. ROI (Return on Investment) measures the efficiency of your investment. It is the ratio of the total income earned to the total cost invested for the CRM project. As per Nucleus Research, a company’s average earning is $8.71 for every dollar spent on a CRM project. Another article from HBR mentions the success of an aircraft parts distributor that tripled their number of daily sales calls and grew their customer base by 33% within just four months of rolling out their CRM system. A CRM initiative is a very strategic one with long-term implications for your business. It requires both time and cost commitment at an organization level to get the desired results. This article will help you to take a calculate