Close
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Latest News
    • Small Business

    Businesses Need to Bolster CRM Resources, Design

    By
    Nathan Eddy
    -
    August 14, 2014
    Share
    Facebook
    Twitter
    Linkedin
      CRM and IT management

      While companies that used a top customer relationship management (CRM) platform for selling were faster at contacting leads by phone and email than Fortune 100 companies, they failed to respond at rates that would meet buyer’s expectations, according to a report from cloud-based sales software specialist Velocify.

      Sales CRM users were more persistent on average than Fortune 100 companies, making 23 percent more call attempts on average and sending 29 percent more emails on average, according to the report.

      Velocify conducted the secret shopper study by filling out multiple online lead forms of companies that were highlighted on the Websites of CRM solution providers as customer success stories using the CRM solution in a sales capacity.

      Researchers tracked how quickly these companies responded by phone and email, and how many response attempts they made in the following 22 days.

      “This research found a clear gap exists at the initial point of contact with a sales-ready lead,” Nick Hedges, CEO and president of Velocify, told eWEEK. “And we’re not that surprised. What we find time and time again is that most companies that perform poorly in this regard have no idea, because their systems and reports aren’t exposing the issue.”

      In addition, tech companies performed 60 percent better than non-tech companies in following optimal contact strategies, and sales teams using one of the five CRMs included in the study significantly outperformed all other sales CRM users.

      Hedges said one reason they believe tech companies are doing better is because they often lead other markets in terms of innovative processes and technology deployment, and they also tend to spend more on technology to support their teams and customers.

      “The problem our research uncovered is CRM alone is not enough to meet the needs of buyers in, what is today, a much more rapid pace of business. The buyer’s time is so fragmented, they’re so much more informed, and they’re quicker than ever to move on if your response is slow,” Hedges said. “Research has shown that buyers would actually prefer a rude response if it was fast, than to receive a slow response or no response at all. That’s the world we now live in.”

      Nearly one-fifth (19 percent) of inquiring prospects waited days or weeks to get an initial call from companies that use sales CRM solutions, and 13 percent of leads received no response of any kind to their online inquiry–not a single email or phone call.

      Just 57 percent of inquiring buyers received at least one phone call and one email in response to their inquiries. A July Velocify research report found the optimal number of call attempts is six and email attempts is five.

      “One reason CRM users fall short in lead response is because CRM solutions are fundamentally designed to leave the decision of who to call, when to call and how to respond and follow-up to the discretion of individual sales reps,” Hedges said. “When you think about all the different approaches that could be taken, and how other concurrent priorities could get in the way, it’s no wonder that such a large percentage of inquiring buyers never get a call from a salesperson or wait much longer than they should to get a response.”

      Nathan Eddy
      A graduate of Northwestern University's Medill School of Journalism, Nathan was perviously the editor of gaming industry newsletter FierceGameBiz and has written for various consumer and tech publications including Popular Mechanics, Popular Science, CRN, and The Times of London. Currently based in Berlin, he released his first documentary film, The Absent Column, in 2013.

      MOST POPULAR ARTICLES

      Cybersecurity

      Visa’s Michael Jabbara on Cybersecurity and Digital...

      James Maguire - May 17, 2022 0
      I spoke with Michael Jabbara, VP and Global Head of Fraud Services at Visa, about the cybersecurity technology used to ensure the safe transfer...
      Read more
      Cloud

      Yotascale CEO Asim Razzaq on Controlling Multicloud...

      James Maguire - May 5, 2022 0
      Asim Razzaq, CEO of Yotascale, provides guidance on understanding—and containing—the complex cost structure of multicloud computing. Among the topics we covered:  As you survey the...
      Read more
      Big Data and Analytics

      GoodData CEO Roman Stanek on Business Intelligence...

      James Maguire - May 4, 2022 0
      I spoke with Roman Stanek, CEO of GoodData, about business intelligence, data as a service, and the frustration that many executives have with data...
      Read more
      Applications

      Cisco’s Thimaya Subaiya on Customer Experience in...

      James Maguire - May 10, 2022 0
      I spoke with Thimaya Subaiya, SVP and GM of Global Customer Experience at Cisco, about the factors that create good customer experience – and...
      Read more
      IT Management

      Intuit’s Nhung Ho on AI for the...

      James Maguire - May 13, 2022 0
      I spoke with Nhung Ho, Vice President of AI at Intuit, about adoption of AI in the small and medium-sized business market, and how...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2021 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×