Buying a CRM system is a substantial investment, both in terms of time and money, and can be overwhelming. You want to choose the correct system but where to start? And what to consider?
In this article, we will cover the 7 most important things to take into account when buying a CRM system.
But let’s start at the beginning…
CRM, or customer relationship management, refers to the ‘process in which a business or organisation administers its interactions with customers, typically using data analysis to study large amounts of information.’
And CRM software is the system a company uses to manage all this data - and their relationship with a client.
By storing all client information in a centralised, easy-to-use platform, businesses can understand, organise and manage customer relations by tracking customer activity.
“Businesses that leverage CRM software see sales increase by 29%”
Not only is this effective for lead generation and increased sales, businesses that leverage CRM software see sales increase by 29% and tailoring service delivery to individual needs. It is also invaluable for creating effective marketing collateral as businesses have clear insight into where they stand with each customer at every stage of the buyer’s journey.
Seven of the most useful features of good CRM software are:
A leader in digital CRM systems, HubSpot notes ‘CRM is more than just software or a set of processes—it’s a business culture solidly focused on winning and keeping the right customers.
A good CRM system builds value for your business by opening up vital communication channels and creating a common client-focused knowledge base to better serve your clients.’
A great CRM will integrate marketing, sales, operational and customer service functions for access to real-time data and seamless communication between teams and employees. Benefits of such a CRM system include:
Now that we have that covered, let’s look at the 7 most important things to consider when purchasing CRM software.
The most immediate consideration when it comes to buying a CRM - or any item for that matter - is cost. How much can or do you want to spend? A CRM can be a substantial investment, so you want to make sure you can guarantee ROI.
You will have to take into account the initial cost of the software such as:
Some costs are obvious, others are more hidden, so be sure to do your research. Tally these up to get the full picture. Remember to also compare what is included in each package, and what’s not.
Hubspot offers CRM systems with scalable functionality at various price points, ranging from a basic free package to the all-inclusive Enterprise package for $1 200 per month.
Two important factors to consider when buying a CRM system are scalability and integration.
Scalability refers to a system’s capability to grow with your business. Factors to consider here are whether or not it is possible to add functions as your business grows, and how much this would cost.
Your business is unique so any CRM you decide to implement needs to be flexible enough to meet you where you are at today but with a robust enough set of features to meet your needs as you scale or diversify.
CRM’s typically group features into various package levels and within each level allow you to specify the number of contacts/customers you’d like to add. If your goal is to go from 1000 to 10 000 customers in the next 12 months, how would that impact your license fee?
Integration refers to the CRM system’s ability to merge - or integrate - with other systems you are already using. A CRM needs to be connected to your existing tech stack, otherwise, it’ll just add more complexity and disparity to your data.
Make a list of all the tools your marketing, sales and customer service teams use. The CRM should have standard built-in integrations for many of the more popular tools like email, Slack, Salesforce, Google, live chat, Shopify and any other channels your team or customers use to engage with each other.
If a pre-built integration doesn’t exist then look at the API provided. Is it well documented? A CRM that doesn’t play well with your most critical tools is really no use to you.
You’d take a new car for a spin around the old block before committing, so why not your software too?
Ask for a personalised demo and/or (free) trial run before committing to a system to ensure that the software meets your business’s specific needs.
A demo is a great time to learn more about a certain system’s capabilities and limits. Be sure to make the most of it by:
Are you looking to schedule a HubSpot demo? Click 👉 here to schedule a call with us
Although there are many great CRM systems available off the shelf, most companies will require some customisation to their software.
Find out of this is possible - and how much it will cost - before committing to a specific system.
HubSpot highlights these important customisation factors to consider:
Remember, a CRM system has to work FOR you, not the other way around, and this is only possible if it reflects your business activities and is configured for your needs.
When it comes to purchasing new software and, more importantly, having teams adopt it successfully, a major consideration is the user experience. I.e. how easy is it for people to learn to navigate and use the new system?
A recent survey suggests that it is, in fact, the number one consideration when choosing a new CRM system. 86.5% of participants said it is the most important factor in their decision-making process.
Questions to ask yourself and your team include:
Systems that deliver a positive user experience are more likely to be adopted by teams and used to its full advantage.
Another factor to take into consideration when buying a CRM is the training and support offered.
Close geographical proximity would allow a vendor to provide you with in-person training at your premises. In many cases, this means a local partner/reseller, that is certified and trained to deliver services related to that particular CRM.
Working with a local partner is not for everyone so do some research into who your local partners are, if any, then read reviews or ask the company that built the CRM if they could recommend a local partner.
When setting up your training schedule, make sure that the following aspects are covered:
Having a local vendor also means any technical issues or staff queries can be responded to in real-time (and IRL technicians/developers if needed), cutting out working hours lost due to time-zone differences.
Keep the following in mind when comparing CRM systems and their technical support offering:
Another important factor to take into consideration is CRM deployment. In short, this refers to where your information and software is kept: is it stored in servers on your premises or is it a cloud-based system that stores data and software on remote servers that you can access via the internet.
There are pros and cons to both, most notably:
Now that you know what to look out for, take the time to investigate each vendor and their offering closely. Remember, this is a big investment - both in monetary and non-monetary terms. You are not merely selecting a software system to grow your business with but a business partner too.