“CRM has become an indispensable ally of marketing departments and the tool that they all incorporate to be competitive and efficient when it comes to the market. The importance of this tool has not stopped growing in recent years, which has already made its position in the software market for companies very solid.”
CRMs are already – and in fact – the most important software tool for companies. At least, that is what can be concluded by analyzing the data from Gartner’s latest study on the issue. According to the estimates that have just been published, at the end of 2017 the revenues that the software manufacturers obtained all over the world thanks to the CRMs had already surpassed those that achieved the DBMSs.
These last tools (the database management systems) are the systems that allow the management of databases and they were the ones that until now were positioning themselves as the market that generated the most income in the field of software. Moving forward, CRM thus also becomes the largest software market in the world.
The figures that support these data are unquestionable. According to Gartner’s estimates, the CRM market generated global revenues in 2017 of 39.5 billion dollars. The database management systems moved 36,800 million dollars.
As brands and businesses become more concerned with settling into leading positions or listening to consumers, their interest and use of CRMs is increasing. Some of the segments of this industry are growing, in fact, by 20%. The CRM allows to see in a much more complete and complex way to the consumer and that is what the companies are looking for right now.
“Organizations want to avoid information silos and get a 360 ° view of the consumer,” explains Julian Poulter, research director at Gartner. This vision also allows them to use other technological tools more effectively.
The future will also have growth
But the positive data will not be limited to what happened in 2017. The forecasts are also positive for the immediate future. “In 2018, CRM software revenues will continue to be the leader in all software markets and will be the fastest growing software market with a 16% ratio,” says Poulter.
The market will therefore continue in a positive direction and will continue with record revenue figures.
The great challenge of the CRM: the RGPD
But this does not mean that the CRM can not present problems and that companies should not be attentive to what it can mean for them. In fact, Gartner also warns of an important issue.
This software tool usually manages a lot of information and a lot of sensitive information, which makes it a potential source of problems to comply with the new European data protection standard, which will come into force in a few weeks and will harden the rules of the game for the companies.
It is expected, even, that companies have to assume more costs in the future because of the application of this regulation. They will have to devote more resources to user experience and information security, but also to their CRMs. “A poor CRM will lead to a violation of privacy and a penalty of the RGPD,” warns Bart Willemsen, research director at Gartner.