Social CRM: World Statistics and India Statistics

Customer Relationship Management has clearly become the centre of all businesses today and great customer service is slowly becoming the driving force for most successful brands in the market. The statistics of CRM and CRM products usage has changed drastically over the years. The once sceptical brands have now integrated multiple CRM interfaces to deliver great customer experience.

We decided to take a look at this change and collate a list of some fascinating CRM stats for the year 2017.
World Statistics:

  1. 33% of customers prefer to contact brands through social media channels as opposed to using the phone and waiting for a human to answer their questions – Nielsen
  2. Nearly 70% of consumers have previously used social media for customer service-related issues on at least one or more occasions. – Gartner, Inc.
  3. Research has found that poor response times or lack of responses can lead to as much as a 15% increase in customer churn. — Gartner, Inc.
  4. Over 75% of adults say that valuing their time is the most important thing a company can do to provide good service. – Forrester
  5. When companies use social media to actively engage customers on service-related issues, those customers will spend 20% to 40% more on average with that company. — Bain & Company
  6. The number of tweets directed at leading brands’ customer service accounts has grown by nearly 3%. – Twitter
  7. Many leading B2C companies are responding to at least 60% of tweets directed at their brand handles or service accounts and overall Customer Service interactions over Twitter have increased 250% in the last two years. – Twitter
  8. Answering a social media complaint increases customer advocacy by as much as 25%. – Conversocial
  9. 54% of millennials said they stopped doing business because of poor customer service. Additionally, 50% of Gen Xers and 52% of baby boomers felt the same way. – Conversocial

India Statistics:

  1. 43% of Indian marketers use social media for customer service – Gadgetsnow
  2. Over 89 per cent of a sample group, said they were willing to spend more with a company that provided good customer service – Business Today
  3. Over 78 per cent said they spent more with a company because of a history of positive customer service experiences — Business Today
  4. Over 25 per cent said the level of customer service was the most important reason – Business Today
  5. Over 83 per cent use social channels to talk about customer service experiences (always or sometimes) – Business Today
  6. While 49% Indian consumers say they always tell others about their poor service experiences, an even greater number (66%) say they talk about their good service experiences. – Firstpost

With increasing social media users in India (world largest user now), social CRM has become an integral part of all business endeavours for most Indian businesses. We also observe an increase in the number of companies providing explicit Social CRM tools and services. A report by Buyerzone found out that in 2016 CRM usage increased from 56% to 74%.
The world is fast moving towards incorporating Social CRM and if you aren’t doing the same, it’s high time you hop on to this bandwagon.