By Mohona Dutta | Reading time 7 mins
Client Relationship Management (CRM) software isn’t an alien term anymore. Every industry is familiar with it. You must have read several articles, heard talks about how CRM can benefit your small and mid-sized business (SMB), and so on.
If you look, you must be receiving a few emails daily about companies offering the best CRM implementation technology, and the great revolutionary changes that it brings forth.
Well, hopefully by now, you must be intrigued. You know the positive impact a CRM could have on your small business, but you might be still unsure it’s worth making that move.
As an SMB owner, you might be faced with either of the two most common challenges, or both-
- Existing systems are running fine; why the change?
If you aren’t using a CRM currently, and your organization still hits all the revenue targets, you may feel there’s no need for a change. After all, why would you change what’s already up and running? Things are getting done, sales deals are getting closed. Implementing new software would just destroy the momentum. You might be using some options currently using to track information:
- Sticky notes
- Business cards
Often sales reps only spend about 35% of their time selling. The rest of their time goes to completing admin tasks, meeting preparation, and research. Shuffling between systems like spreadsheets, email, sticky notes doesn’t help much.
A CRM tool can centralize these systems and drastically condense your admin tasks. You can find a lead’s address, notes from the last phone call, or the first email you sent them all in a matter of seconds and without moving from one screen to the other.
Most SMB startups start tracking sales with a spreadsheet, paper files but it soon becomes impossible to organize. Usually, the transition from a spreadsheet to a CRM leads to a dramatic improvement in the number of prospects you talk to. Recording contact details and interactions in a CRM also ensures that you get value from the hard work you and your team puts in. Utilizing CRM technology to win deals.
- I am an SMB entrepreneur. Can I afford CRM?
CRM has several advantages and I am sure you have read them time and again. However, even with these advantages in mind, investing in a CRM can give you cold feet if you run an SMB.
So, here’s what you need to know about small business CRM pricing.
- CRM is priced per user.
- The fewer people that need access to your CRM, the lower your monthly cost.
- A good CRM like Microsoft Dynamics 365 won’t be expensive with a bunch of features that you might not use.
- CRM pricing is usually tier-based. You’ll get to choose a tier that perfectly matches your small business.
- Remember to review your plans before going live.
- When you find the right CRM, you can save with an annual subscription. You will be charged on an annual basis, but the rate per month is usually cheaper.
- Free trials are a blessing. Whenever you can, get a free trial.
- If you run a small business, even one month of a bad software purchase can set you back. A free trial will help you test a CRM on your daily tasks and you see if it fits your requirements.
How can I know this is the right investment to make?
First, figure out your potential monthly cost. Learn the price range and then multiply this number by the number of people that would be using it.
Then, ask yourself these questions about a CRM solution:
- How many hours per week could each person save?
- How many more deals could each person work on because of that saved time?
- Based on the average deal close rate, how many extra sales can you make?
- How many more opportunities could be closed each month due to more timely follow-ups?
- How quickly the move from the prospect to the lead stage can happen?
After finding the answers, sit down and select the CRM that works best for your company. Know that the right CRM solution will give you the results that will far outweigh the cost. And in case you are stuck about how to select the right CRM solution, we have a checklist for you.
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Mohona is a Content Writer for the Marketing team in AhaApps since 2019. When she is not busy attending to her creative, technical side, she likes to binge on sitcoms on Netflix. She loves writing poems and reading short stories when she wants to break away from the humdrum of life.