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US Medium Businesses to Spend US$1B on CRM Solutions This Year
US medium businesses (MBs, 100-999 employees) will spend over $1 billion this year on customer relationship management (CRM) solutions, as they increasingly recognize the need to improve and extend their CRM capabilities. The US medium business market is still under-penetrated in terms of CRM adoption, with just 35% of these businesses currently using CRM solutions. However, MB spending on CRM is set to grow at a 9% CAGR over the next five years.
That comes from a new report, "Mid-Market CRM: Vendor Strategies for a New Frontier" from Access Markets International (AMI) Partners Inc. The report takes an in-depth look at some established CRM players as well as newcomers' products, packaging, pricing and channels strategies to win in the coveted mid-market.
Over the past few years, an increasing number of CRM solutions have come to market aimed at the MB segment. Most MBs look first to brand name market leaders, such as salesforce.com, Microsoft CRM, Sage and RightNow, who are all enjoying strong growth. Because they're not as well known as their rivals, MB CRM challengers have a tougher time enticing consideration. However, challengers, including Entellium, Maximizer, NetSuite and SugarCRM, often provide customers with very attractive alternatives, offering more aggressive pricing, extra services or other value-added differentiators to entice customers to their solutions.
According to Laurie McCabe, author of the report, and AMI-Partners' Vice President for SMB Insights & Solutions, MB CRM requirements range along a spectrum from simple to sophisticated. Vendors need to understand these requirements, and clearly communicate a unique value proposition to their "best-fit" MB segments, optimally tuning their product, channel and service offerings to these customers.
By staying focused on these objectives, vendors can continue to help MBs overcome many of the barriers that have stalled productive CRM adoption in the past, and differentiate their solutions in a very competitive market.
About the Study
The study Mid-Market CRM: Vendor Strategies for a New Frontier
-- Examines U.S. MB market dynamics, based on data from our 2005-2006 Medium Business Survey and most recent Global Model forecasts.
-- Analyzes data and trends regarding MB adoption of CRM solutions, and key differences between CRM and non-CRM MBs.
-- Assesses eight CRM vendors (Entellium, Maximizer, Microsoft, NetSuite, RightNow, Sage, salesforce.com and SugarCRM) mid-market strategies.
-- Compares core product offerings and trends; delivery models; packaging and pricing; service and support; integration, mobility and industry-specific offerings; and marketing and channel strategies.
-- Provides an appendix with detailed vendor profiles for Entellium, Maximizer, Microsoft, NetSuite, RightNow, Sage, salesforce.com and SugarCRM.
