49% of CRM Projects Fail — But 9/10 Customers Renew with Rethink

Did you know 49% of CRM projects fail?

It surprised us, too. But rather than run from that fact, we decided to dig deeper.

And what we found was incredible — those that successfully implement a CRM experience significant benefits.

According to Software Advice, of the businesses surveyed that invested in a CRM:

  • 74% said their system offered improved access to customer data.
  • 47% said it had a significant impact on customer retention.
  • 47% said it had an impact on customer satisfaction.

And it doesn’t end there. Research from Salesforce shows implementing a CRM leads to:

  • 29% increase in sales.
  • 34% productivity increase.
  • 40% better forecasting.

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But most impressive is how a CRM impacts the bottom line.

According to a report from Nucleus Research, for every dollar spent on CRM software, businesses can expect an average of $8.71 back — a 771% return on investment (ROI).

Still, 49% of CRM projects fail. We had to know why.

It turns out, the reason is simple: lack of adoption.

Fortunately, after more than a decade of working with some of the world’s top commercial real estate firms, we’ve uncovered the 6-step formula for CRM success.

Now, you don’t have to enter the world of high-risk, high-reward CRM implementation. You can reap the benefits of a CRM without becoming another statistic.

Here’s how it works:

  1. CRE-specific features

Generic CRMs can help you track and manage contacts and deals and run key reports, but CRE dealmaking involves so much more. Look for a CRM with features that support properties, COMP data, map-based searching, prospecting, and more.

  1. Intuitive design

A CRM that’s easy to use and understand encourages brokers to quickly take advantage of its features and functionality — without wasting tons of time and money on training.

  1. Mobile-driven experience

The brokers at your firm probably aren’t spending most of their work hours at their desk in front of a computer. They’re most likely spending the bulk of their time out of the office, networking and touring properties. If you want them to actually use a CRM, you’ll need a mobile-driven solution.

  1. Industry-specific integrations

Integrations with solutions like marketing platforms and COMP data providers can eliminate duplicate data entry — saving time and preventing errors — while enhancing your CRM’s business intelligence capabilities.

  1. Implementation team

You’re the expert on how your firm works best. Your CRM provider should supply an implementation team to help you configure your CRM to work the way you do, rather than force you to adopt to their solution’s rigid processes and workflows.

  1. Client success

No matter how well your CRM is designed, you will have questions at some point. A CRM provider who invests in client success will provide a team you can reach out to for answers and advice.

What Rethink users who have experienced the 6-step formula have to say:

Incredible Customer Service

“Rethink got my business because of the customer service and support. I couldn’t put my agents’ business in jeopardy, so I think knowing and having that confidence that when there’s an issue, Rethink is going to respond quickly was very important.”

Jim McGuckin, Sales Manager
Marcus & Millichap – Brooklyn

A One-Stop Shop

“Once everyone started using it, they realized, ‘Wow. This is an awesome one-stop shop for all the information I need to do my job.”

Keith Walker, General Counsel
Victory Real Estate Investments

A One-Stop Shop

“Once everyone started using it, they realized, ‘Wow. This is an awesome one-stop shop for all the information I need to do my job.”

Keith Walker, General Counsel
Victory Real Estate Investments