New Salesforce Study: Digitally Empowered SMBs Better Prepared to Handle Market Uncertainties
In October 2020, the global leader of CRM, Salesforce released its fourth edition of Small & Medium Business Trends Reports. Capturing insights from over 2300 Small & Medium Business owners and leaders all around the world.
This study was conducted in two parts by The Harris Polls. First at the beginning of the pandemic in March 2020 with a follow-up study in August 2020.
Findings of the study include:
Accelerating the use of Technology
- According to the study, SMBs’ use of technology has drastically increased during the pandemic. 56% of the respondents now use Customer Relationship Management software, an increase of 24 percent from 2019.
- One in five SMBs has implemented at least one technology solution in the last six months, including Email marketing software, customer service software, project management tools, or eCommerce software.
- Growing SMBs are 65% more likely to have raised their technology investments due to the pandemic.
Preparing for Future Crisis
- By adopting technology and digitizing operations SMBs prepare for future crises SMBs leaders preparing for the future by digitizing three key areas- Customer Interactions, Internal Communications, and Workflows.
- In India, 31% of SMBs have now implemented a CRM solution while 66% have an existing CRM solution.
“Amidst a Challenging business environment, SMB leaders have displayed remarkable strength and resilience with only 16 percent of SMB respondents expecting an entirely new structure post the pandemic,” says Sunil Jose, Senior Vice President, Salesforce India.
Challenges faced by SMBs in India
- SMBs mainly struggle to bring innovative offerings to the market, personalized customer experiences and keeping up with customer expectations.
- Another challenge faced by SMBs is the management of finances. In such times, many SMB leaders face high difficulty in growing their business and maintaining financial growth.
- Reduced customer demands is another top constraint on future growth.
SMBs in India are navigating through the present and preparing for the future. If you are looking forward to digitizing your operations then you are in the right place. Our team at Outsourcing Salesforce has expertise in Salesforce implementation, a deep sense of knowledge, and proven customer success. We are more than happy to serve your requirements. Contact us by clicking here.