CRM Pricing: Factors to Consider before Investing in a CRM
Customer relationship management (CRM) tools are proven to improve business’s sales productivity and customer retention. Beyond the tools for organizing customer information, the ability to personalize customer interactions, tools for targeted marketing campaigns – CRM solutions are a household for most business in the modern era.
However, it is also one of the most marketed in the global software market. This doesn’t come as a surprise. According to research, 91% of companies with over 10 employees uses a CRM system in their organization.
The percentage of companies using CRM tools for their email marketing campaigns and gathering of information before phone calls might sound unbelievable. But it goes to show that a CRM is effective for any type of business.
With the CRM software’s ability to deliver what’s expected from them, there’s no wonder that the demand will continue to rise in the nearby future. According to Grandview Research, the global customer relationship management market is expected to expand at a CAGR of 14.2% from 2020 to 2027.
With that, it is to be expected that the CRM solutions sector will be heavily marketed by an excessive number of vendors with varied pricing models and deployment models. Having said that, calculating all the costs and gaining cost-saving insights on CRM systems can be challenging.
Apart from looking at the basic features like contact management, lead management, customer data processing, and marketing automation. Looking into costs is also temperamental to choosing the best software for your business.
Pricing factors doesn’t necessarily mean that when it’s expensive, it’s good for you. You also need to calculate other factors: maintenance costs, hidden fees, or extra fees. As such, there’s no need to trouble yourself with calculating costs and efficiency on your own. Here’s a quick guide to CRM pricing factors for you.
Pricing factor #1: Find a CRM that Scales with your Business
One of the most important guides to consider when choosing a CRM platform. A CRM is an investment and an asset for your business, it is not an impulse purchase. Most especially for small to medium-sized businesses, you need to make sure that your CRM grows and scales with your business. In the long run, migrating from one software to another can be time-consuming and expensive for you and your business.
Don’t just choose a CRM because they’re on the top 4 players in the CRM global market. Not because they’re on top, doesn’t mean that they’re the best fit for your business process. This will pose challenges for your business in the long run because most CRM’s in the market are built to meet the requirements of an enterprise.
Choose a CRM that gives you a plan that can better suit your budget without the compromise of quality. Like Saphyte, you can have pay-as-you-go payment schemes that better suit your business’s finances. Plus, the fact that Saphyte is built to adapt to your business’s needs and processes.
Pricing Factor #2: Quick to Implement and Easy to Use
Choosing a CRM for your business should be like choosing a pair of sneakers. The software must blend in well with your business and be a core part of your sales process. That is why it is temperamental to choose a CRM that is easy to implement and easy to use.
CRM implementation can sometimes take time to learn and this can cause problems for your business if the CRM of your choice is hard to learn. You also need to consider the convenience the software can bring for your sales team.
On top of the convenience, make sure that the CRM provider offers a free setup and free product training for your sales team. Having none of this can secretly add to the CRM pricing. If they offer a month’s worth of free trial and a free demo, then grab the opportunity too.
Pricing Factor #3: Transparency for Storage Plans
Cloud data storage is a common need at this day and age. However, they can come at a cost and can get quite expensive in the long run. There are some legacy CRM’s who charge at around $125USD/month for a 500 MB of data storage.
Whilst, this might not seem costly, in the long run, you might have to pay more for an extra gigabyte. Remember that your main goal as a business is to mitigate unnecessary expenses that can cause several problems for you in the future.
So, choose a transparent CRM that reveals their storage plans, doesn’t charge you as much and where you can pay on a pay-as-you-go basis. With this factor, you can be assured that you are getting what you’ve paid for with no hidden or extra charges.
Pricing Factor #4: Get free and reliable support
Whilst you trust a CRM solutions provider and invest in a long-term contract, you’ll soon realize that customer support does not come for free. There are some CRM software vendors that charges every customer support that you use. Of course, this can add up to your list of expenses in the future.
Your primary goal should be to maintain your CRM without spending too much. Most CRM’s can take much time when it comes to implementation and can be complex at the beginning. That is why it is important to choose a CRM vendor that provides reliable and free customer support.
When the vendor offers you a reliable and knowledgeable customer support 24/7 it’ll be more convenient for you and your business in the long run.
Pricing Factor #5: No Hidden Charges
Hidden charges are a common foe for every purchasing customer. That is why pay attention and read the fine print meticulously. Most especially if you enter into a legacy contract with a CRM provider.
Read through the contract if the CRM vendor charges you with extra or hidden charges. This might not look harmful on hindsight but you’re treading into dangerous and murky waters. Furthermore, long-term contracts won’t give you good value for the money.
Make sure that the provider of your choice doesn’t have hidden charges or won’t charge you for maintenance fees.
Try considering looking for a provider that doesn’t lock you into a contract, won’t charge you with unnecessary fees, and no extra charges charged to your bank account. Furthermore, make sure that the provider has the capability to give you full customer support and attention
Pricing Factor #6: Integrations for Free
No matter how all-encompassing a CRM might be, you also need integrations necessary to make your business more efficient. But, don’t just choose a software that has a plethora of integration options in their system as this will cause confusion among your sales team.
Try to limit your integration options with: email integrations, calendar integrations, payment service providers, social media chat integrations, and live chat integrations. The more you limit your options, the narrower and better solutions you’d get.
Whilst you’re looking through CRM pricing points, make sure to look out for CRM’s that can provide you with free integrations. With powerful integrations, your sales team can harness other functions to create better customer experiences and cultivate remarkable customer satisfaction.
Pricing Factor #7: Out-of-the-Box Functionality
The complexity and robustness of a vendor’s out-of-the-box functionality is essential to the success of your implementation. The greater the functionality of the software, the better the outcome. However, there must also be space for customization for you and your business.
When you give your team a software that has quick and easy functionality, it gives way for better implementation. Furthermore, it can support the organization’s business processes and delivers faster return on investment.
Pricing Factor #8: Easy Customization and Automation
A software such as customer relationship management should have the capability for easy customization in order to meet specific business needs. The ability to upgrade is something that you should look into.
In order to find the best system for you, it must exemplify the following characteristics: system extensibility, including database, user interface and business logic. On top of that, it should have ease of end-user configurability; workflows that you can customize, and other things that you can automate for your business.
Pricing Factor #9: Business Process Integration
Your process flow determines the course of your customer journey. That is why it is imperative to have a tool that can help you manage, ensure consistency, repeatability, and efficiency. You can do this if the software of your choice has out of the box process flows and other management tools that can help you deliver your services while minimizing production time and implementation costs.
There are plenty of factors to consider when you’re looking for the best CRM that fits with your business. With that, you might want to take a look at what Saphyte CRM can offer.
Beyond the CRM pricing of Saphyte, you can have the features a CRM can offer minus the financial strain. From client management, marketing, sales, and admin modules to real time sales insights and forecast, you’ll surely find value for your money.
Saphyte’s monthly subscription fees have a pay-as-you-go setup. No hidden or extra charges, and no set-up fees. Every subscription plan is inclusive of a free demo and product training, and 24/7 customer service availability.
Invest in a CRM that can adapt and grow with your business. Choose Saphyte.
Check our pricing here, or contact us for a free demo, or you can start your free trial today.