According to a study by McKinsey & Company, existing clients have the tendency to spend two times more than new clients. Additionally, according to Gartner Digital Markets, gaining new clients costs five times more than the retention of current clients. This explains why companies choose to prioritize Customer Relationship Management (CRM) and retention of current clients, with the hopes of increasing the company’s return on investment. The development of CRM and its various tools has led to the need for increasingly specialized expertise.
Check out the 2021 salaries of all key CRM positions!