US labor productivity has soared in the last five years, far more than other countries. The U.S.’s comparative advantage in technology likely played a key role. Other factors include a more flexible labor market, stronger investment in innovation, and a robust government stimulus that helped fuel a faster post-pandemic recovery.
Moving beyond CRM adoption and achieving nirvana in CRM utilization requires adherence to a few principles. Companies can start by elevating their concept of a CRM beyond a fancy rolodex or contact database – tracking customer interactions to manage their sales process.
The concept of a sales funnel is nothing new, but in a world where customers and investors demand fast results, having an intimate knowledge of the nuances of each funnel stage can be a tremendous competitive advantage.