You have so much going on regarding data management and customer service that you feel like you’re juggling way too much at one time. You feel that having all these resources in one place would make so much more sense, and you’ve been hearing about customer relationship management, better known as CRM, systems. So what is CRM? And how would you choose the right CRM for your business?
What is a CRM?
CRM, or customer relationship management, refers to software that lets companies track every interaction with current and future customers. CRM is a catch-all term for any system that allows this kind of tracking.
A CRM’s capabilities vary from system to system. Almost all CRMs can store prospect and customer contact information. Some can log calls and emails sent to prospects, pull in prospects’ social media profiles, and include space for users to enter additional information.
More sophisticated CRMs can enrich prospect information, allow for the scheduling of meetings within the app, visually display a sales team’s pipeline, and provide sales forecasts.
Regardless of the features in place, the goal of implementing a CRM for your business is to create a system that your company (most often the company’s sales and marketing teams) can use to more efficiently and effectively interact with prospects or customers.
Types of CRM
There are many hundreds of CRM systems. They can be created with different themes or models in mind, such as operational, sales force automation, analytical, collaborative, campaign management and sales intelligence models.
According to softwareadvice.com, one of the leading CRM systems in 2016 is Salesforce.
Some of the other systems that we believe are the best in the business include Zoho, Sugar CRM, Insightly and HubSpot. At 602, for example, we use HubSpot CRM, as we believe it is the best service out there, and it is the perfect tool to help us fulfill our clients’ needs.
Some programs might contain more than you need, so there is no need to spend more on the program than necessary. Other programs might not provide enough resources for what you hope to accomplish. Identifying your specific needs can help you choose the right CRM for your business.
Choose the Right CRM for your Business
In order to choose the right CRM for your business, consider these tips, courtesy of organizations including HubSpot.com and SugarCRM.com.
1. Make sure it can meet the growing needs of your business.
The right CRM for your business would provide you with the flexibility you need to add customers as your business grows. Your CRM should be dynamic and scalable.
2. Look for a productive CRM.
A key to help you choose the right CRM is to find one that is not overly complex. The right CRM provides access to relevant customer intelligence quickly. Look for a CRM that makes your business more efficient and helps your employees become more productive in their sales and customer support efforts.
3. Go for a SaaS-based solution.
According to HubSpot, 41 percent of all CRM systems sold in 2013 were SaaS (software as a service) based. Cloud-based service providers use a subscription-based business model, which means the initial investment you make in the CRM service is at the lower end of the scale. You can scale up the subscription package as your needs change. Also, the third-party provider is in charge of maintenance and upgrades. All you need to do is focus on leveraging the maximum potential of the CRM.
4. Try before you buy.
Make sure you try out the software so that your team can judge its features and benefits. The right CRM for your business would meet the highest standards of usability and can integrate seamlessly into your business’s existing IT environment.
In addition, the system would provide users with the best experience whether they are using smartphones, tablets or laptop computers.
5. Know your own budget and requirements.
When deciding on a CRM system, consider your business’s integration, support, vertical market, feature, financial and vendor requirements.
Budgetary concerns also will factor into how you would choose the right CRM. While some businesses’ resources are constrained, others can take a longer-term view of the financial aspect of the CRM investment. The CRM market now supports both types of customers.
6. Consider ROI.
The right CRM for your business would help you improve its profitability. If you know how you are going to measure the ROI of the CRM, you will be able to buy a product with features that deliver on your goals.
7. Research the vendor.
Make sure you have every detail available about a vendor, including the vendor’s experience, expertise, partnerships with big companies and maintenance and support levels.
There is a lot to consider. If you need a team to help you, we are here to answer your questions. Contact us at 1-888-602-0197.