Choosing a CRM system that best fits your business needs
A CRM (customer relationship management) system is crucial for winning and retaining business. CRM is not only about managing customer relationships. It’s also about gaining a better understanding of your business and clients. It helps you stay in control and effectively meets their needs. In the first few years of the business’s lifecycle, business owners usually store customer information in excels sheets only to realise that when it comes to analysing the customer data and using it to either:
- Create personalised marketing plans
- Improve customer experience through action insights
Hence, choosing a CRM system should be one of the first few decisions a growing business should make based on how it intends to use the customer data.
Identifying Your Needs and Goals
Choosing the appropriate tool is crucial for you and your colleagues to continue advancing the business. With plenty of choices available in the market, it is essential to identify the reason WHY you require a tool and WHAT specific tasks you want it to perform.
What are the benefits of a CRM system?
- A CRM system allows you to see the accurate picture of your customers
- Helps identify, define and segment an Ideal Customer Profile (ICP)
- Build relationships with clients and improve customer service, thanks to insights
- Improve your client communication
- Identify opportunities to upsell or cross-sell
- Help track sales and marketing activities against each client
Factors to consider when choosing a CRM system
What are your most significant needs?
CRM platforms can significantly enhance your business’s efficiency by automating tedious and time-consuming tasks such as data entry and reporting. Therefore, it is crucial to select the right CRM platform that caters to your specific needs and requirements.
When considering different CRM suppliers and platforms, it is essential to identify your specific needs and requirements. Are you looking to improve your customer relationships? If yes, ensure the platform provides the tools to utilise this aspect effectively.
Or are you looking for a way to make quick and informed decisions? A CRM system can provide real-time data on customer engagement and activity through social tools, helping you determine where to focus your new strategies.
What is your budget?
Investing is crucial for growing and scaling a business, so CRM tools are no exception. However, the prices of these tools depend on various factors, such as the features and the number of users, as well as any upgrades or additional options. It’s also important to note that there may be extra charges on top of the initial upfront costs. Therefore, it’s essential to consider how many users you need and not opt for the all-in-one package if it’s unnecessary, especially if only a few staff members will be working on the platform.
What essential features do you require?
A Customer Relationship Management (CRM) tool cannot be expected to work perfectly from the beginning. Its purpose is to facilitate and improve the procedures that are already in place. However, as a business, you must determine what is most crucial for your company. Is it lead management to attract new customers or contact management to maintain relationships with existing clients?
The technology for lead management allows you to choose when to follow up. It analyses demographics and data to help you focus on leads at the right time and secure the sale.
Meanwhile, contact management is an essential factor. You can maintain your relationships with clients by using a tool that helps personalise emails and contacts for each client. This will make them feel special. Additionally, this tool can provide you with data on when to introduce new marketing strategies or products to them.
What sort of integration do you need?
Most CRM systems can integrate with other tools, so it’s essential to verify which software you want to integrate. If a chat function is necessary, or if HR software or website analytics are imperative to you, make sure they are compatible with your chosen CRM system to keep everything running smoothly.
Size of the database and growth forecast
Most CRMs are priced on the number of contacts you hold in the database, so having an idea of the number of contacts you have now in the database and how much you would expect to grow in the contract period with the CRM. Purchasing extra data bolt-ons often proves expensive in the long run, so it is good to have that in mind before purchasing.
Consider your reporting needs
Most CRMs have built-in templates for activity, sales, marketing, and director-level reporting. We strongly recommend testing these templates to see if they meet your reporting requirements.
At Demand Gen, we are experts in utilising various CRM tools – including Hubspot, Monday.com, Salesforce, and more. Speak to our team to take your CRM journey to the next level.