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.
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.
Services
Stakeholder mapping, analysis, engagement and communication needs to be detailed to avoid business losses or even worse, a crisis. How can you do this effectively to prevent failure? ...
Data-driven business decisions have never been as crucial, especially in this era. MGBF leverages off, technology, experience and market presence to aid businesses in making accurate decisions. ...
MGBF provides comprehensive strategic advice and results-focused solutions to solve clients' problems in business-government relations so they can focus on their core business. ...
A critical business challenge is meeting the right decision-makers and potential buyers through the best channel and platform. How will you improve your business competency? ...
Upcoming Events
Expanding on the global digital arms race that governments and corporations are engaged in, this full-day forum will see industry leaders speak, and four interactive panel sessions. Event date: 21 March 2023. Contact us to book your seats now!
The threat matrix has evolved to include information warfare, cyberspace incursions, big data and behavioural communications. Business leaders need to be aware of these threats to survive. What are you doing as a key stakeholder?
Corporations and their leadership often face weaponised information attacks in the media. Understanding these advanced business threats is crucial. Recently completed. View proceedings online.
Special session: Cyberwarfare Waged on the Corporate Sector - Lessons from the Russia-Ukraine Crisis. Corporations are in a digital arms race that many don't realise. How does this relate to your organisation?
MGBF In The News
The Malaysia Global Business Forum (MGBF) will be hosting a roundtable on ‘Designing the Future of the Digital Economy’ on 23 February 2023. It is the culmination of the first three MGBF Exclusive Roundtable Series titled ‘The Evolving Threat Matrix in the Digital Economy’ held throughout 2022. According to the […]
The Founding Chairman of the Malaysia Global Business Forum (MGBF), Nordin Abdullah, today spoke on Bernama TV’s leading English talk show, The Brief, hosted by Jessy Chahal, on the topic of a stable political reality and what that means for the Malaysian economy. Nordin said, “The first thing that it […]
More than 1,100 years ago, Muhammad ibn Musa al-Khwarizmi was developing the mathematical formulas that we know today as algorithms which now have become so intertwined with the business fortunes of global media giants and the very fabric of geopolitics. A series of recent high level international reports have revealed […]
KSK Land has been recognised by the Malaysia Global Business Forum (MGBF) for its role in attracting high net-worth individuals to Malaysia post-pandemic. The first challenge in investor attraction is “selling” the country. In the context of Asia, Malaysia is competing with some very established investment destinations. The second […]
Malaysia, in particular Kuala Lumpur, continues to position itself as a regional centre to do business, educate a family and enjoy a global lifestyle. One company, KSK Land, has taken the lead in positioning itself and the city of Kuala Lumpur as a property investment destination for the global citizen […]
The upcoming budget represents an opportunity to build resilience in the critical sectors that will form the backbone of the country’s future-facing economic ambitions. This however needs to be achieved in the context of managing the community sectors most impacted by COVID-19 over the past two years. The Keluarga Malaysia (Malaysian Family) […]
Malaysia Global Business Forum (MGBF) has moved to support the creative economy as the overall economy moves into a recovery phase following the COVID19 pandemic. As a step in the direction of normalcy, the MGBF has agreed to host the art exhibition “I Know You’re Somewhere So Far” by one […]
Congratulations to Datuk Seri Ismail Sabri Yaakob for taking up the mantle of the ninth prime minister of Malaysia. There is nothing normal about the situation; it could not have been scripted but it has kept the spectrum of media, mainstream and social, gripped. The first order of business for […]
In a stirring speech to the nation, President Joseph R. Biden, Jr. stamped his brand of leadership on the presidency, in his first act as the 46th president of the United State of America, it signaled several shifts. Perhaps the weather was foreboding with snow falling before the ceremony that […]
KUALA LUMPUR, 6 July 2022 – As the global economy continues to deal with unprecedented levels of disruption caused by the pandemic and the conflict between Russia and Ukraine, the convergence of energy security and food security issues has become a front-of-mind issue faced by policy makers and consumers alike. […]
KUALA LUMPUR, 23 June 2022 — Malaysia Global Business Forum (MGBF) ties up with scoutAsia to ensure that businesses are equipped with deeper regional insights. The past two years has seen a massive shift in the way businesses are conducted with digitisation, digitalisation and automation continuously being adopted to improve […]
KUALA LUMPUR, 25 May 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Security Concerns in Critical Value Chains’ was held in a hybrid setting yesterday at the Eastin Hotel Kuala Lumpur. The guest of honour was Yang Berbahagia Tan Sri Dato’ Seri Rafidah Aziz, former minister of […]
We live in the age of crisis. At the heart of any crisis is the threat of rapid change. Change too deep or too wide that the current coping mechanisms for an individual, corporation or government are unable to remain resilient. An unwelcome paradigm shift, like the proverbial spider, that […]
The Malaysia Global Business Forum (MGBF) has released a report following the roundtable on ‘Digital Resilience in the Corporate Sector’, which was recently held in Kuala Lumpur. In attendance as guest of honour was Deputy Minister of Communications and Multimedia, Datuk Zahidi Zainul Abidin. The report recommended several critical development […]
Trade and investment delegations will trickle back over the next few months, but the second half of the year should see considerable return of business travellers. It was learnt that over 50 per cent of international business chambers and industry associations surveyed will consider sending exploratory teams to Malaysia during […]
KUALA LUMPUR, 30 March 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Digital Resilience in the Corporate Sector’ was held in a hybrid setting yesterday at the Element by Westin Kuala Lumpur. The discussion focused on what business leaders need to understand, to ensure business resilience and […]
The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Addressing Weaponised Information in the Media’ was held in a hybrid setting today at the Hilton Kuala Lumpur. The discussion focused on addressing one of the most relevant threats to businesses in the digital economy – cyber threats causing physical and […]
The current floods that have impacted various parts of the country have given rise to an extensive commentary on the response cycles of various stakeholders. It has in turn led to continued crisis communications and statements in the media by agencies and ministries alike. This binary approach to the discussion […]
The formation of a special Cabinet committee to develop strategic measures to safeguard the economy amid the Covid-19 outbreak shows the Malaysian government is serious about creating a balance between the continued safety of the general population and the survival of the economy. In the global context, as many countries […]
