Can a CRM Be Both Powerful & Affordable?

In today’s world, we want it all. We’ve become accustomed to technology delivering us powerful, seemingly endless options in the palm of our hands. Whatever we dreamt 20 years ago, has now come to pass, and then some.

And it’s not just iPhones and self-driving cars: business has also been transformed by the influx of technology. Customer Relationship Management, for example, will never be the same after the launch of Microsoft Dynamics 365.

Technology’s power and capacity seem unstoppable. And yet, it often comes with a price. Typically, the more you pay, the better quality or more powerful a product is.

Which leads us, as CRM fanatics, to ask the question; can a CRM be both powerful and affordable?

To answer this, let’s unpack what the question is really asking.

What is a ‘Powerful’ CRM System?

CRM is a broad term that could encompass a wide range of processes and tools.

Why?

Because CRM technology is powerful. Programs, functionality and platforms have been developed to accommodate companies’ every whim, delivering unparalleled control and power to CRM users who can transform this power into profit.

Every business requires something a little different from CRM which has led to this powerful flexibility across a range of platforms or applications.

These differences may relate to:

• The size of the business
• The industry
• The number of employees
• The number of contacts/leads and
• Which elements of their day-to-day tasks will be integrated within the CRM software

Whatever you want your CRM to do, there’s probably an app to deliver that process.

But CRM isn’t solely technology-based. External factors can impact its efficiency and overall cost.

No matter how much money you spend on your CRM:

• Poor management
• Poor sales team
• Poor communication and
• Poor processes

All these will result in an ineffective and costly business mistake.

CRM software itself holds the power, but it’s the people using the programs which unleash its potential. Training your team to understand CRM processes is the most important step when it comes to CRM ‘power’.

We believe every business would see the benefit of adopting a CRM. This means everyone from freelancers who are just starting up a side-gig to multinational corporates. But these are two very different business models with two very different budgets.

Your choice of CRM has to reflect what you want it to do and the power you’ll need it to wield. For some, a CRM might not need much ‘power’. For larger businesses, ‘power’ may be key.

We believe a CRM should be flexible. Most importantly, perhaps, your CRM needs to grow with you. Over time, CRM changes.

Whether you expand your team, products and services or your trading locations, as your business grows, your CRM needs to as well, delivering more power to keep driving you forwards.

For us, free and cheap services come unstuck here. They just can’t grow with you. They lack the power and capacity to support ongoing business growth.

Affordable CRM Systems

As CRM experts, we’ve taken a close look at all the new CRMs swarming the market in recent years.

Now that business owners understand the value of CRM, there has been an explosion of online platforms offering programs that promise the world for the price of a flat white each month.

The reality, however, is that you get what you pay for.

Or, as we prefer to say, “If you pay peanuts, you get a monkey.”

Time and again, we’ve come back to the same conclusions. Yes, there are some very cheap, even free CRMs out there. But you’ll pay a price somewhere other than on your bank statement.

You have to understand that CRM is only one part of project implementation. So you have to calculate the total project cost to get a clear view of the actual figure.

Every free or very cheap CRM we’ve tested out has been limited in some capacity. Whether it misses key features, doesn’t integrate with enough programs or has low limits on the number of contacts or users, our conclusion is the same. You get what you pay for.

With CRM, cheap usually means you’re compromising on power.

Combining power with affordability

Here’s the honest truth: we don’t believe that free CRM software is powerful enough for most businesses.

You may be the exception but let’s assume you aren’t. When it comes to choosing and developing CRM, we believe you should look at this as an investment for your business. It is not an element that you should try to get at a bargain price because, if you use it right, CRM could transform your business and take you to the next level.

CRM is key to engaging prospects, driving sales and generating repeat business. Therefore, CRM is key to profit. If you understand the value of your CRM software, you’re not going to want “cheap”.

Let’s address it from a different angle. What does the word ‘affordable’ mean to you?

Imagine you spend $500 per month on your CRM software. If the implementation of CRM across your business drives $10,000 in sales per month, that’s ROI no one can sniff at. We’d say a $120,000 return for a $6,000 annual investment is the definition of affordable.

Finding a CRM that is powerful and affordable

If you’re ready to invest in CRM software, think of it as exactly that, an investment.

You might not need to spend thousands now but if the CRM system does its job, you should soon see an increase in your profits. This, in turn, means that you will have more capital to invest back into your CRM and sales team.

Choose a CRM that delivers what you need today, but don’t forget to think about what you may need from it tomorrow. An affordable, scalable CRM with unlimited power potential, combined with your business passion, is a recipe for success.

CRM system vs CRM solution

So what is the difference between a CRM system and a CRM solution?

A CRM system is very technology driven – the focus is on the technology, with people, at best, playing catchup. A CRM solution is People then Process then Technology, all working together to deliver the desired result of looking after your customers.

People

The people are your team members and your customers. People may also include suppliers and other third party individuals are a key part of your ability to deliver what your customers need.

Process

The process is how you and your people look after your customers – what is done, who does it, when and why.

Technology

The technology is the software and underlying hardware, which help the people make the process happen.

Although every organisation will have a CRM system, relatively few organisations have a CRM solution. Statistics such as 14% of CEOs would like to junk their CRM and start all over again really highlight this.