Top 3 Myths About CRM Software Debunked
A customer relationship management (CRM) software is a tool that will help manage your workflow, as well as customer interaction and experience.
The technology does sound intimidating, particularly for mom-and-pop stores or hole-in-the-wall shops. However, for businesses that have survived the ’80s and ’90s that are familiar with the Rolodex, think of CRM software for small business as a glorified Rolodex.
That is if the Rolodex has analytics and can automate your workflow. Or enhance your marketing strategies and study your customer behavior so you can come up with better-targeted ads.
Nevertheless, to survive today’s very competitive market, you need every edge you can get. Moreover, you can use CRM as leverage to at least give you a fighting chance, especially in the first year of your business where the attrition rate is very high.
Here are some of the common myths about CRM software that you need to know about:
CRM is Costly
Now, this question is tricky. First off, the typical CRM software for small business will entail some cost, so that part is true. However, the term “costly” is relative.
How much will you spend if it means that your business won’t die? When you look at the ROI, the technology will deliver nearly $9.00 for every dollar that you spend.
Besides, for a small business, you are only looking at spending between $12 and $20 per user for the CRM.
The Most Expensive CRM is the Most Effective
This myth might have been true if the technology is still in its infancy. But advancements in technology are also bringing down the cost of deployment.
The good thing about an open market economy is that it opens the industry to more players. CRM manufacturers end up competing with each other to offer the best package available. That can only benefit the end-user.
For the most part, the top brands still offer the best premium on your dollar. But they shouldn’t be the only choice by default. Do your research, and you will find that some smaller companies can provide the ideal solution for your needs.
Small Businesses Don’t Need CRM
This is the prevailing assumption among small businesses which, unfortunately, still exists today.
In fact, even cursory research will tell you that even the biggest brands in the industry are offering CRM solutions for small businesses.
The CRM will help automate your workflow, enhance customer experience, help deploy targeted marketing, and boost profits. Those CRM goals will cut across different business segments. You need a CRM software whether you are a two-person operation or a Triple-A, billion-dollar business.
Even if the CRM deployment is necessary, small businesses still don’t appreciate its value. For instance, only a third of small businesses have adopted CRM for their operations. They have a lot of catching up to do since 9 in 10 companies with ten or more employees are already deploying CRM.