How to choose the right CRM software solution for your
business
A solid CRM suite is a must-have in today’s business environment if you wish
to develop, manage, and grow your business. CRM helps you retain customers and
at the same time grow your customer base. All businesses, big or small aspire
for a CRM solution that is the perfect fit for them. However, given the
not-so-impressive rates of successful CRM deployments it is crucial that you
know what you are getting into when you decide to deploy a CRM solution.
As a generalization, most businesses, whether enterprise or SMBs have similar
expectations from a CRM solution. There are certain factors that you should
consider when selecting a CRM so that it is in alignment with your business
practices and customer approach. These factors should cover the people,
processes, and technology that will play a role in the successful deployment of
your CRM solution.
1. Know your requirements – Your CRM software purchase decision depends
heavily on your awareness of your business requirements. You can shop around
only if you have a clear idea of what your company needs. Your need analysis
enables you to be in control and ask prospective vendors the right questions
instead of being swayed by their salespersons. It forces the vendors to put
forth realistic quotes without glossing over costs that get added on to your
bill at the time of payment. Targeted marketing, richer customer data,
integration of applications, centralized database, generating more leads, leads
conversion, efficient reporting, mobile connectivity are some of the factors
that you need to consider. Of these some factors could well be overarching
business requirements and some not so pressing. Your need analysis should factor
in your state of preparedness for deploying a CRM solution as well as your
growth plans.
2. Cost – Your financial capabilities are an important consideration. The
size of your business, present number of users, and future plans will have a
bearing on the cost of the software and the total cost of ownership. Compare
vendors for the one-time cost of software and the TCO over a period of time. In
most situations small businesses are much better off with the SaaS option where
they pay only for what they use; however it is also possible that the TCO over a
period of time can go beyond owning an on-premise CRM solution. You can bring
the deployment and maintenance costs down if you have the requisite IT
infrastructure.
3. Usability – This is a factor that can make or mar CRM adoption within
a company. A CRM system that facilitates intuitive navigation, entering of data
and access to information with minimum number of clicks ensures user
acceptability. Employee training is a cost and the process can drag if your CRM
system of choice requires that your employees have to grapple with tabs and
functions. Check the extent of training support provided by the vendor; how many
staff personnel is it willing to train and for how long. Find out if there are
any extra training costs involved. Will the vendor provide training support at
the time of upgrades?
4. Vendor analysis – Once you have your requirements sorted out, you can
compare vendors in an objective manner. Armed with a prioritize list of
requirements you can assess, select or eliminate vendors without wasting undue
time on the process. The vendor should be assessed on two counts – technology
and fitness for long-term business relationship. The technological must-haves
are dictated by your requirements. The vendor’s experience in your vertical is
important. A CRM solution pre-customized to your specific needs will work out
cheaper than a generic CRM that you are forced to customize later. Select a
vendor who you feel fits in nicely with your business environment. Your staff
and the vendor will have to work together for a successful deployment and it’s
only possible if you and the vendor see eye-to-eye on key issues. The vendor’s
standing in the market, his history of innovation and vision for the future are
also important considerations.
5. On-premise or on-demand – The deployment method depends on your
finances, whether you are a first-time CRM user or making a move to another
vendor, your in-house capabilities and other factors. On-demand is cheaper for
the short term and allows your field staff to stay in touch with their
counterparts behind the desk. It is a better alternative if you wish to deploy
mobile CRM. On-demand CRM is also far easier to deploy, you can have it running
in a matter of days. On-premise CRM offers greater control of data and better
results for your customization efforts. However, it’s an expensive proposition
and well nigh out of reach of SMBs.
6. Integration of data – Compare vendors for the ease with which their
product can integrate with legacy applications in your enterprise. The prime
objective of CRM is to provide users with a single truth about the customer and
eliminate the use of multiple silos of data. This can be achieved only if the
CRM software integrates smoothly with existing applications. It is also
important from the point of view of achieving an ROI from applications that
already exist within the company. Integration capabilities are important as
protect you from vendor lock-in. You reserve the option of building your systems
with products and services of different vendors. Also check if the vendor is
capable of cleaning the dirty data that is invariably generated during the
course of the initial data integration.
Conclusion
Selecting a CRM solution can be a difficult task but given the benefits that
follow the successful implementation of a correctly chosen CRM, it is well worth
the effort. So, do your research, be informed, compare and ask questions. You
will surely find a vendor who is the perfect fit for your business.
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