A common misconception for a business start-up or those still using their old processes, is that a CRM implementation is a scary process and the cost of CRM is too expensive for their business. However, CRM platforms today are user-friendly and intuitive, allowing you to focus on your business processes and manage your time better.
Customer relationship management (CRM) has evolved immensely over the last decade due to the increase in cloud, and businesses adopting a more digital approach. With the ever-growing functionality in CRM, it’s no surprise by 2027, the CRM market is expected to reach £83.5 billion. (Fortune Business Insights, 2020).
- CRM is a luxury I can’t afford
CRM may not be the first thing that comes into your mind when thinking about saving your company money due to the installation and licensing fees that come with it. But, have you ever stopped to consider that CRM is the perfect investment for your company? On average, a mid-range CRM will cost you £30 per user per month. (ExpertMarket, 2021) But, that investment allows you to better manage your leads, customer information and provide an overall better service. If you consider that one lost lead will cost your organisation £1000, a better managed, fully integrated CRM system will cover your costs for a CRM implementation.
- CRM is too confusing and I might lose data
CRM is the perfect tool for keeping track of all your information. Did you know lost productivity and poorly managed leads cost companies over £736 billion every year (CMO Council, 2021). You might be thinking how will a CRM system help me? First, you will be able to store all your customer and lead information in one central location and you will be able to access that information anytime, anywhere. Secondly, 71% of sales reps say they spend too much time on data entry (Toutapp). But, have you thought about the cost of how much time is spent duplicating your sales processes and how this could be more costly to your business, especially if that lead is lost due to inefficient processes and lead management?
- CRM is too expensive and only for large enterprises
CRM is the perfect tool for any organisation, helping businesses provide detailed insights, improve their sales processes, and support their customers the best they can. CRM is scaled to fit any organisation, not just large enterprises, if you don’t require a full CRM system with all the features you can upscale or downscale depending on your organisation’s requirements. The most successful organisations will start with a simple CRM implementation and upgrade when they need to. A small cost to the business is a small outlay to success. (Include prices and details about CRM Lite)
Many organisations are hesitant in implementing a CRM system into their business due to their fears around initial costs, set up fees and maintenance costs. However, CRM allows you to ensure leads are followed up correctly, information is always stored centrally and customers are at the heart of your business. When deciding on CRM, it’s important you focus on how it will help boost your productivity levels, enhance your user experience, and allow you to be disruptive in your market. That’s why 92% of businesses said that CRM is a crucial tool in achieving their revenue goals. (SuperOffice, 2021)
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