Customer Relationship Management systems just for the purpose of storing customer information and data are a thing of the past now. Sophisticated new-age CRM tools enable businesses to initiate leads, follow up on prospects and generate loyalty.
CRM systems are not only meant for big companies; even smaller companies that are dealing with a sizable number of customers also benefit from CRM solutions.
There is a famous saying, “Don’t put your horse before the cart,” which holds true for businesses trying to implement CRM software. Contrary to the popular belief, that only an expensive solution involving sophisticated customized engineering efforts will save the buck. But it’s actually not so. It has been reported that major unsuccessful CRM solutions were due to improper selection of CRM software alone. Before selecting a CRM tool for your business, it is imperative to know your business’s goals and needs and what issues need to be solved to achieve the same.
There are definitely no shortcuts in selecting the perfect CRM solution for your business. The selection process involves a series of steps and skipping any one of those will land your business in a big soup sooner or later. Some facts to consider before investing in a CRM solution are:
1) Data storage: Consider your business storage needs before investing in CRM solutions. If your organization is customer centric, decide on limitations like customer data file size and types as per requirement.
2) Tailor made: There is obviously no one-size-fits-for-all policy when it comes to choosing the apt CRM software for your business. Always look for a customizable one that meets for business needs and can be tailored accordingly by using plug-ins, extensions, add-on templates, themes, etc.
3) Costs involved: If your business has limited expertise then cloud-based CRM tools that have flexible payment plans would seem to be ideal. On the other hand, businesses having highly competent in-house expertise, fixed pricing on products seem to be a better option.
4) Find your niche: Investing in CRM software that is designed specifically for a particular kind of business makes more sense. So whether your business is into finance, retail, F&B, real estate, etc., you can implement specific CRM solutions tailor made for that particular industry.
5) Profitability: The main motive behind CRM implementation is growing your business. Strategically planning ahead ensures that the purpose with which the software was implemented for, was truly worthwhile. Because once invested, there is no point in struggling with the costs, time or negative feedback.
6) User-friendly: It’s imperative to train your employees on the software usage to increase its value and reap maximum return on investment. If it’s too complex, employees may not be able to use it to its full potential. Choose one that has a user-friendly interface and does not involve a brainstorming learning curve. Although every CRM tool claims to be easy to use, it’s always wise to test the demo kit before taking the plunge.
7) Cyber-safe: Since your CRM software will turn out to be the kernel of your business operations, make sure it comes with strict security measures that hinder cyber-attacks and loss of data. Recovery and backup in case of data loss must be an added feature. Your contract for terms and services must clearly mention the accountability in such cases. A separate clause may be added to the contract stating that in the event of any damage caused due to the negligence of the vendor, the service provider may be asked to reimburse the loss incurred.
Selecting the right CRM for your business does require time and patience. But once the systematic selection process is complete, you can expect customer loyalty, return on investment and achieve the target of user adoption.
There are multiple players in the market which provide CRM solutions but one company which stands out in the crowd is Fynsis Softlabs, they are the Leading SuiteCRM Partner in the world which is built on open-source and best suited for the small and medium-sized companies as it is very much cost-effective compared to its competitors.