When a Google search is done for the “best CRM software”, a trillion results pop up. How can you determine which CRM software is for you and why? There is a marketing rule that states you should never overwhelm the customer with too many options. The fewer the options the easier it is for customers to make their decision. This will be the basis of CRM selection, cause you have loads of options!
This blog is a guide to walk you through all the steps necessary to pick the right fit for your business and a complete CRM system checklist to tick all your CRM requirements.
How much does a CRM cost?
First thing first, CRM costs. A CRM cost is the subscription or purchase of the platform. The CRM vendors either charge a flat fee or a per-user fee.
Additionally, they have tiers unlocking certain features, that you require based on your business requirements.
Other CRM costs are implementation, customization, and training costs. This means that the number you see on any CRM software’s price page is not it. The best way to calculate the real cost is to three-fold that number and then see what is affordable for you.
Be mindful of a few things like features offered in each tier, and caps on data storage limits. In the future, as you gather more data you’ll be charged an extra fee. Other than this any third-party integrations that are paid like HubSpot etc, will also add to the cost like licensing or subscription fees. Customizations like workflows and more will also be adding to the cost.
Migrating Data from your legacy software or spreadsheets is a project on its own. The data needs to be mapped accurately so that each data lands in the right field in the CRM. Accuracy and data security need to be ensured so that nothing gets lost in the migration process.
Features to look for in CRM software
There are some reasons why you are investing in CRM in the first place. Not all CRMs are made equal and offer the same benefits. Some are a great fit for startups or small businesses offering basic functionalities, at a very affordable price. Others are apt for medium to large enterprises rendering advanced features, and a great deal of customizations, and are highly scalable.
With that being said some features are benchmarks and have to be there to give you the ROI you are looking for. Begin your CRM selection process by looking for these features:
- Lead management
- Opportunity management
- Sales pipeline management
- Sales automation and forecasting
- Marketing automation
- Retail management
- Inventory management
- Reports and dashboards
- Customized workflows
- Integrations like basic phone, email, and advanced
- Customer support– chatbots and self-service portals
- AI – nice to have and a must-have for small to medium businesses
- Mobile support for remote teams
Questions to ask when doing CRM evaluation
All the questions need to be answered by the stakeholders that will be using CRM. This will lay your must-haves in the CRM when you are evaluating the CRM.
Questions for executives team members,
- Is the CRM enough for the size of our business?
- Do we need CRM for just our sales team or the whole company?
- What will be the implementation process like?
- Would we need to spend more on customization?
- How much of a technical expertise will be required?
- How much will it cost me to add all my team members to the CRM platform?
- Does it offer integrations for all the other tools that I use?
- Does it improve our data visualization?
Questions for team members,
- What features do we need to ease our work?
- How can we benefit from CRMs to enhance our operational processes?
- How much automation will we require for our processes?
- Can we work with a generic CRM or do we need an industry-specific CRM?
- What other tools do you use to get your work done?
Making the right CRM software selection
The above-mentioned features and questions will help you figure out what you should be looking for and what is important for you. On the other hand, there are some criteria for actually picking up CRM software. As business owners, you ought to make the right decision for yourself, the right is based on these 4 checkmarks:
- The goal is to save time.
- CRM offers beneficial customizations
- CRM offers complete data safety
- Data migration is easier as you would need to move your historic company data from spreadsheets or legacy systems to the new system.
- Business intelligence is a must-have
- AI will be a great feature. (But calculate your ROI as AI can be expensive for small businesses.)
Mistakes to avoid when choosing CRM
It’s very easy to get lost in all the bling that fancy CRMs offer. You as the decision maker have to stick to your fundamentals. Steer clear of these mistakes:
Ignoring the actual user needs
There is a reason why we have added a questionnaire above to ask your real users. These can also be called your CRM business requirements. There is a very big cost attached to this, as if the CRM doesn’t address the right issues your team members will end up not adopting the CRM and thus your investment will be completely abandoned.
Underestimating integrations
A lot of the time, companies tend to think on an 80-20% or worse 60-40% rule, meaning it fulfills 80% of the requirements but lacks the other 20%. While there is no perfect fit, keep in mind that your 20% compromise should not be on the things that truly matter.
For instance, as a digital marketing agency, you want to use a CRM to manage your current client portfolio better for your sales and marketing teams. If your CRM doesn’t have social media integration, what’s the benefit to your staff?
The whole point is to have a completely centralized CRM and your teams wouldn’t have to get lost in tab switching.
Right, there you underestimated a social media integration, and your marketing team is standing still at 0 enhancements, even after a hefty investment in CRM software.
Not thinking about scalability
Yes, above we did mention to keep the current scale of your company in mind, before settling on an option. But, your company is bound to grow. Over time your data volume, clients, staff, tool integrations, etc will grow and you don’t want your CRM to crash, or even worse to look to implement a new CRM after a year (implementation is costly after all!).
Overlooking at the mobility or remote access feature
Not all companies will need a CRM that is remotely available and allows for offline updates. But if you have remote sales, an on-the-field team, or a retail delivery business, you might benefit from this great feature.
If right now, you don’t have that remote team but your business might expand in that direction, be aware of this and pick a CRM that offers you to add this feature when required.
CRM selection checklist:
Detailed brief of business objectives
Firstly you need to start by shortlisting your CRM’s, based on above mentioned features and important criteria. To recap it's based on integrations, customization requirements, data migration, hosting, device compatibility, and other specific features.
Choose your Deployment models
There are two primary CRM models. These are on-premises and cloud both have pros and cons.
On-premises CRM software is physically stored on the company's hardware and servers. There is full control of software, data, and infrastructure, giving enhanced security, customization, and no reliance on internet connectivity. It’s a suitable option for businesses with high-security requirements, complex customizations, and limited internet reliability.
Cloud CRM is hosted on a third-party provider’s servers and accessed via the Internet. This removes the need for hardware and software purchases making it easily scale up or down based on requirements. It is easily accessible over the Internet. It is a more cost-effective and flexible solution for small to medium, businesses having limited IT resources.
Budget for implementation costs
As mentioned earlier the cost of CRM implementation is not just the software purchase or subscription but the cost of other paid tools you might integrate, and CRM expert developers that you might hire. Additionally, there is customization costs. Given this conduct some marketing research and set an appropriate budget for CRM implementation.
Shortlist CRM vendors
Once you know your budget, you can start exploring the market by looking into CRM vendors and CRM expert developers to help you implement the CRM the right way. Look closely into CRM vendors, vendor costs, and pricing structure.
Request for proposal
Before finalizing a vendor and CRM implementation agency, narrow down your shortlisted options, which should not be more than 5 or 3, and ask for their proposals on your CRM implementation project. If you have more than 3 options, this is your time to reduce them.
Get software demos
From your shortlisted contenders you can start requesting demos and calls with the CRM experts. Consider it a consultation call where you will get more clarity on what exactly you need, and who can appropriately help you with this.
Make your CRM selection
After this initial demo meeting and call, you’ll gain clarity on many things, such as additional requirements and features to consider. After evaluating all this, you can make a scorecard and assign scores to each feature and other processes. Make your selection and leave the rest to the CRM developers.
To Sum up– the final takeaways on the CRM checklist for CRM evaluation
Selecting the right CRM involves a multi-faceted approach. Start by defining your business objectives and identifying key features like lead management, sales automation, and customer support. Consider your budget, including implementation, customization, and ongoing costs.
Evaluate deployment models (on-premise vs. cloud) and shortlist vendors based on your needs and CRM selection criteria. Request proposals and demos, and carefully consider factors like user experience, integrations, scalability, and mobile accessibility. By following this CRM selection checklist and avoiding common pitfalls like underestimating integrations and overlooking user needs, businesses can choose a CRM that aligns with their specific CRM requirements, driving significant improvements in sales and customer satisfaction.
RT Dynamic’s CRM Developer Services:
RT Dynamic can assist businesses in their CRM software selection and implementation journey by providing expert services such as:
- CRM consultation
- CRM Customization
- CRM implementation
- CRM integration
- CRM support and Maintenance
By leveraging RT Dynamic’s expertise, businesses can maximize their CRM investment and achieve business goals effectively. Contact us today to discuss your CRM implementation.
