“What are my peers doing?” When a company wants to ensure they’re keeping up with the competition, this is always A questions they should ask themselves. If other companies in your industry are finding success with a certain software or strategy, it’s likely that you can too. The popularity of CRM for distribution companies is rising; according to a recent industry study, more than half of distribution companies are already using CRM and those who do not current use it have begun to line themselves up to join the rest of the crowd.The NAW Institute for Distribution Excellence conducted a study of CRM and its presence in the distribution industry and found that 61% of distributors are already using CRM in some capacity to help them better manage and optimize their customer relationships. (click to share this stat on twitter!) The findings prove that CRM is quickly becoming a standard system for distribution companies to increase customer satisfaction, retention, and profitability.
61% is a large portion of the industry- but what about everyone else? Of those companies who were not using CRM at the time of the study, many of them are aware of CRM for distribution, understand it, are shopping for it, or are in the process of implementing a system.
- Roughly 40% reported that they were actively shopping for a CRM solution at the time of the study.
- About 20% had recently purchased a system and were in the middle of implementation at the time of the study.
Below is a graph of the full survey findings:
What should this survey mean to you as a distribution company? It means that if you do not have a CRM system in place, you’re missing out on significant benefits and stand to lose your customers. It also means that your competition likely already has a CRM system and may be able to offer your customers more value because of it.