There has been a considerable progression in CRM software solutions in recent times. Though the key aspects of any software solution are design and planning, it can make or break the CRM. Every organization today is adopting this critical business strategy regardless of its size. Any company with a large or selective customer base works on the same strategy, involving a single place to store all customer-related information for easy access whenever needed. The ultimate goal of every company is to create opportunities and sales and maximize staff productivity.
Definition
CRM stands for customer relationship management. Companies dealing with large or selective customer bases always need to understand their requirements and behaviors better. CRM software helps in achieving the same. It is a process or methodology to learn about customer requirements to create a strong relationship with them. CRM is a procedure through which bits of information about a customer, sales, current market trends, and responsiveness are put together.
Benefits
- Customer data
Organize and maintain customer information. As per the data provided by the CRM, companies can track customer information and meet individual customer needs.
- Sales forecast
CRM software helps to predict your future needs and forecast your sales.
- Streamlines process
Streamline your sales cycle by eliminating unnecessary steps. You can automate various processes by eliminating time spent on repetitive tasks and work more efficiently in building customer relationships.
Top-listed CRM software
Research has shown that the current generation of customers is highly intelligent. They know their needs and are highly conscious about the choice of their brands and products. Unlike earlier, where just sending regular messages with their first name for discounts was enough, today customers demand more. They are more careful about the products they choose, especially after the pandemic. Therefore, companies need to work hard to provide a seamless customer experience. Below is a list of top-rated CRM software:
- Microsoft Dynamics
- Freshworks CRM
- NetSuite CRM
- Salesforce CRM
CRM pricing
The CRM software is priced as per user on a monthly basis. However, large organizations prefer taking annual subscriptions for a simplified payment process. Depending on the complexity of your business needs, you can choose from different price ranges, including the following.
- USD 10 – USD 15
This range is for small enterprises with modest needs, as they opt for inexpensive CRM solutions. These systems are easy to implement and do not require a high-tech support system to manage the software. However, ensure that the software solution you pick meets your business requirements. - USD 20 – USD 40
If you require additional features with better integration, CRM software priced at this range can easily fit your needs. Just keep a check on the limitations and information storage cap that will force you to upgrade to higher plans in the future. - USD 50 – USD 75
This price range is suited for companies looking for options to integrate older systems and allow customization as per business needs. They offer powerful features, which might not be suitable for small businesses. - USD 250 and above
Companies paying this price for CRM systems have a large customer base and need solutions to store a lot of information. These systems require proper training, customization, and implementation services along with software. Big enterprises typically use systems with this price range because they offer local hosting rather than Cloud-based services. It is helpful for companies who have unique security needs.
Most companies offer free trials for new customers so that you do not have to pay hefty amounts without knowing whether the system works as per your business needs or not.
CRM solutions have come a long way. Initially, though, they were designed to support the sales team to store customer information. Today, it has become a go-to solution for several business areas. There are multiple factors to consider while choosing a CRM solution for your business, like costs, features, and tools.