Most of the businesses requite a CRM platform, but the problem has been the pricing as it was too high. As mostly businesses are tracking the client details with the help of spreadsheets and email due to the low expenses, but require more sophisticated tools. When most of the business devises their CRM project, they understand the relevance of using a CRM tool that could easily organize data and also advance the business. It is important that businesses and business owners are able to review the quantum of benefit from the CRM tool since they are usually 10 times the actual price of the present tool.
It has been found that the small firms have slowly realized the true power of CRM tool. Gartner has claimed that the global CRM market rose to $20.4 billion in 2013, up 13.7% from $18 billion in 2012, due to initiatives such as digital marketing and customer experience. It also went on to propose that the CRM market will grow further to $36.4 billion by 2017. For varied firms, having a CRM platform is part of the cost of carrying out business activities and also a significant part of the regular operations.
Although, the up-front price of changing to a modern CRM tool can be a tough job, but the firms are required to think long term when the IT budget is being planned. It is believed that the primary goal of planning a CRM budget comprises of balancing the up-front costs along with ROI.
- Planning for pricing
“What is the best CRM available in the market” is the question which is being raised at the start of their CRM budget process. Many companies without understanding the relevance of CRM use Google documents for tracking their client data. Many at times, their main requirements are for a CRM tool to integrate easily with other software and for it to lower the long-term expenses.
It is time for companies to use more feature-rich, enterprise-level platform to offer what it required, comprising of the ability to integrate. In the budget making stages, the firm should never underestimate the time needed for the CRM implementation.
- Time is equivalent to money
When CRM implementation is being discussed, many at times budgeting for the project will be as relevant as cost. It is essential that patience is maintained during implementation for ensuring that the system works in the right direction and apart from helping the company to save money in the long run.
It is essential for companies to anticipate unexpected costs and also make a CRM budget flexible for solving the problems.
- Do you need a consultant?
It is believed that longer the implementation process is, more money needs to be spent. No business will afford to risk the CRM implementation by doing it on its own and make the untrained staff to use the tool without guidance as it can cripple business operation and enhancing the long term prices.
Bringing on board a consultant helps companies move through the complete process swiftly along with prevention of expensive problems that arise due to the inexperienced handling.
Bringing on board a consultant helps in determining the features needed by the company apart from successful completion of the project. But it is suggested some additional budget needs to be allotted for customization or maintenance of the system.
It is believed that employing a consultant can be expensive in addition with the present CRM platform expenditure, but it is crucial for making the system up and running as soon as possible along with making long term costs savings.