Collecting as well as storing data becomes very easy if you are having a small and young business. This can be done in a few text file or a spreadsheet. Things start getting tricky when the number of customers you are having starts to increase and your staff is getting expanded. In this case, CRM can be very beneficial. CRM stands for Customer Relationship Management. This can be used for improving the current position of your business process. Many CRM development companies are there that can help you in guiding through these tough situations.
Advantages of CRM
There are many advantages of CRM and some of the important ones are given below-
• A CRM plays a major role in gathering information from the employees who all are having contact with the customers.
• Storing of all the information is basically done in a single place. Moreover, this can be shared with all departments that help in dealing with clients indirectly or directly.
• There is an improvement in collaboration between departments and teams. This can be done because of the scheduling functionality and shared calendar.
• The time of employees is freed because of the automation in case of dealing with prospects and customers.
• Analyzing data can be done easily with the help of CRM.
• The process of reporting is also simplified by the technology of CRM.
• Insights are offered by the technology of CRM into the business performance and behavior of the customer.
These were some of the major and basic advantages of CRM. But it is important to keep in mind that all of these can only be achieved if you choose the perfect CRM development services within your budget.
Who can be benefited from CRM?
Many fields are there but it can be said that many departments can benefit from the custom CRM. However, custom CRM will always offer the biggest benefits to customer support, marketing, and sales.
Data gathering is automated with the help of CRM. Segmenting of prospects become very easy when all the data is stored within a single place. This can be done by categorizing on the basis of age, gender, shopping preferences, demographics, buying behavior.
The storage of data in a centralized manner helps in making more successful calls for sales and this is because of the information of all customers that are present at hand. CRM helps in spending a very less amount of time to search for required information, more relevant offers can be done by the salesperson and it helps the customer satisfaction to rise.
If a customer is contacting support then they are wishing for fast as well as efficient service. Support specialists are responsible for coming up with an effective strategy because of CRM technology. The time spent dealing with the issues can be reduced and this will make the customers stay happy.
How a company can save money with CRM
Contact management software
Contact management software is present in the CRM technology that helps in putting an end to the working practices that are poor and hence can reduce time. If time is saved then the money is also saved. No company wants their employees to waste their time by working with old methods for creating new profiles of customers and logging of customer contacts. Updating a contact of customer with the help of CRM can help you in saving money as well as time. The information gets updated automatically and this will ensure that all the employees will be having current information.
Elimination of misplaced invoices
There are many businesses that are who are losing or misplacing invoices. All of the lost invoices can be done immediately chasing with the help of CRM. If there are no outstanding invoices then there will be more money gained by your company. SaaS development services or any other services can also help in eliminating invoices but a business owner must choose a developer who is having the capability as well as experience.
Increase in customer confidence
If there is an increment in the confidence in a customer then there are chances of the profit to get increased. If the customer is satisfied then they will always opt for your service again in the future. CRM is very important for securing customers and keeping them. There are many tools available that will help in scheduling as well as planning communications.
It can reduce you from paying for various licenses
A business owner can easily save a lot of money on many software licenses. There are many businesses that will pay a lot of money to maintain their licenses for various programs of software. A CRM project will be having all the features and so the business owner will have to pay for a single license. So a lot of money is saved each year by the business owners if they use the technology of CRM.
Targeting marketing campaigns
Marketing campaigns can also be improved with the help of CRM. This can be done with the help of reporting tools. This tool helps in dissecting the use of customer for segmented campaigns. Analyzation is possible that will help you to know about the marketing campaign that is bringing you the most revenue. Moreover, it will also help you to know about the most loyal customers. Elimination of the campaigns that are not working is also done by CRM. This can therefore help to save the time of the marketing team when they are engaged in creating campaigns. In simpler words, CRM helps to make you realize the original value of the efforts of marketing.
Cost for building a CRM software
CRM software is basically developed for the web and later on, it was adapted for mobile by creating an app for mobile or a web browser. Following specialists are important for developing CRM software-
• UI/UX designer
• Project manager
• QA specialist
• Server-side backend developer
• User-side frontend developer
According to various data and researches, it can be said that the cost of developing CRM software is around $46,000. The figures can also rise depending on the complexity and number of features that have been added. It is usually cheap as well as easy to build a web app when compared to a mobile app. So more amount is spent if custom CRM for mobile is developed. More people are required who will be working on your app and they are-
• One more UI/UX designer
• iOS developer
• Android developer
Depending on the use of employees a business owner can choose a mobile app for Android or iOS. It can cost around $60,000 to build a custom CRM app for each Android or iOS.
By seeing the above points it can be said that it is not too cheap to develop a custom CRM. But seeing the advantages of CRM, the money a business owner will spend is worth it. So a business owner must choose an open-source development service that will work for providing you with the best CRM software.