Are You Paying Too Much For Your CRM System?
When looking for a customer relationship management system, most businesses want one that will help them increase productivity, improve customer relationships, and ultimately, provide a return-on-investment in the form of sales. However, there are hundreds of CRM systems on the market, each with dozens of different features and capabilities. Not only is it difficult to find the right CRM system for you, but it can be hard to figure out which software is worth the investment.
In this blog, we are discussing some ways that small and medium-sized businesses can evaluate CRM software to determine if it is worth the investment.
What Functionalities Do You Need?
Some CRMs are built with the enterprise model in mind. So, when purchasing one for your SMB, there may be tons of those features just sitting in your system, never being used. According to Capterra, 43% of businesses don’t even use half of all the features that are in their CRM, which means you could be paying more for capabilities that you don’t use and probably do not need.
When evaluating a CRM, you should first assess what your business needs from the software. If it is simply for tracking clients, communications, or managing small projects, a cost-effective, simple CRM software may be the best choice for you. If you have a complicated sales process with many steps and moving parts, then you may need all of those features. However, that is often not the case for many businesses.
What’s Your Conversion Rate?
A recent report from Nucleus Research found that the average ROI for companies that have invested in customer relationship software has increased to $8.71 for each dollar spent. Studies have shown that using a CRM software is crucial for today’s businesses, but that still doesn’t mean you need to pay upwards of $100 dollars to have one. The prices of CRM systems can vary from into the thousands to just $10 or $20 dollars. Instead of paying $100 or more and only using about $10 worth of the features, small businesses can pay the price that aligns with their usage.
For example, W5 Templates, a CRM software for small businesses, is priced so that users pay for the features they use. For as little as $20 per month, you can take advantage of all the features and capabilities, without worrying about any strong learning curves and extensive training that is often needed for more expansive systems. To learn more about W5 Templates’ CRM system or to take advantage of our free trial, visit here.