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CRM Customer Relationship Management Software Buyers Guide  

1. What is customer relationship management (CRM) software?  

Customer relationship management software, CRM software , is a concept that advocates centralization within a database of all interactions between a company and its customers. This allows you to manage and maximize your knowledge on a specific customer for better understanding, anticipation and management of their needs.

A CRM software also integrates organizational processes in sales, marketing and customer service to improve the attention, support and interaction the company helds with its customers and prospects.

2. The benefits of a customer relationship management (CRM) software

  • Centralization of customer data: A customer relationship management system includes a searchable database that allows users to access customer and prospect information in a more productive way, reducing inconsistency errors, and accessing the most up-to-date data from anywhere by synchronizing information between multiple mobile devices.

  • Optimize collaboration between departments: A customer relationship management software has a specific role in all stages of the sales and marketing cycle. Its spectrum ranges from acquiring to exploring valuable customer data. Thanks to an unique CRM software, the information is spread and used by all company departments, increasing coordination and automation.

  • Customer and business performance information: A CRM software is a real business management software that enables you to perform detailed sales analysis. As a powerful statistical tool, a CRM software allows you to determine where the prospect comes from, learn all the effective actions for conversion and calculate the cost of acquiring a new customer. They allow you to create reports for developing personalized marketing campaigns based on customer segmentation.

3. Common features of a customer relationship management  (CRM) software

  • Contact management: Keep track of clients and ensure that each client is supported appropriately. This can cover a relatively wide field of functions: from converting a pre-qualified lead, retaining your target audience, to managing detailed customer files (while respecting data protection).

  • They make it easy to track interactions: Document conversations with customers and prospects on different channels, such as phone calls, emails, live chats, or in person.

  • Lead management: Follow up emails and phone calls with prospects for contact management. From the automatic filling of prospect data to the management of email campaigns, passing through the analysis of commercial activity reports. This set of tools also aims to be a management system that the user can incorporate as a personal work tool.

  • Agenda, calendar and reminders: Allows you to create reminders about calls and meetings to synchronize them with the calendar of those involved. Reminders can be scheduled via calendar or desktop notifications, emails, or even text messages.

  • Document management: Thanks to its optimized reporting capacity, a CRM software offers the possibility of obtaining a macroscopic view of data and information related to meetings and other exchanges between employees and business partners.

  • Segmentation: Generate groups of clients that respond to specific tasks, based on location, age, gender, and other multiple variables that trace importance when executing marketing campaigns or specific sales actions.

4. Price estimate for customer relationship management (CRM) software  

CRM prices vary depending mainly on the types of licenses and the number of users who will use the system. As a rule:

  • The more users, the higher the price.

  • The more resources, the higher the price.

Price ranges of CRM softwares for the year 2021:

Characteristics Average cost per user (in US dollars)
Simple $ 30
Moderate $ 55
Advanced $ 150

Most CRM softwares offer free trials, however, there are no exclusively free CRMs, as in all of them you start to use the basic functions, but you can pay for more advanced functions they can offer.

We have put together an article with a list of CRMs that have free trials so you can start testing them.

If you need to implement a CRM and already know the different prices, you can contact our team and a consultant. Depending on the needs of your company, they will recommend specific options, define the type of license and the type of CRM that best suits you, and help you negotiate prices with different providers. The chart above includes prices for the basic plans of these products. An enterprise or premium product can include some additional features, such as artificial intelligence bots, sales forecasting, API calls, and partner management. 

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5. Considerations When Buying Customer Relationship Management (CRM) Software

  • Types of CRM in business: Increasing automation of marketing, sales, and e-commerce processes can quickly hurt customers. Some of them may feel that their care and follow-up is no longer appropriate, especially when communication is standardized. It can result in some dissatisfaction. CRM should mitigate this feeling. As part of a customer-oriented approach, it aims to personalize communication with customers, current or potential, in the simplest and most efficient way possible.

  • CRM system cost: CRM systems costs are based on the number of users they can have, or on the type of CRM implementation. If in the cloud, web, mobile, SaaS or hosting system, they may have a different price if processes such as installation are taken into account, factors to consider at the time of selection.

  • Data warehousing capabilities - A CRM acts as a database for a business, collecting essential data that will then be analyzed on a common platform. Marketing, sales, and customer service teams are the sources. Typical data includes, for example, business proposals, orders placed, or references. In this way, it is possible to consult all the important data of a contact and the general trends of database. The operational aspect of a CRM works simultaneously with analytics, feeding the analytical components of the data and being able to define other stages, such as the establishment of a new offer.

6. Trends in customer relationship management (CRM) software 2021

  • Social CRM, the usefulness of CRM in the era of social networks for companies: CRM in the era of social networks allows companies to communicate with their customers using the channel of their choice: telephone, text, instant messages, email or social networks (like Facebook or Twitter). Behind the scenes, the CRM system in the age of social media uses these interactions to provide businesses with richer, actionable insights into customer opinions about the company, the brand, and specific products or services. They are able to use the customer profile that was created and wisely break down its components among the different teams: customer service, marketing and sales. In CompareSoftware The directory of CRM customer relationship management software allows you to search for a software by desired function, including social media integration.

  • Artificial Intelligence (AI) is the future of customer relationship management tools for small businesses: It is an element that appears everywhere today and is referenced in all studies where the market is going. The combination of cognitive technology and artificial intelligence will improve consumer retention and reduce acquisition costs, in addition to reducing the problems that companies face in the consumer-brand relationship. These days people are comfortable doing transactions from an application or a website. For the future, it is estimated that 8 out of 10 banking transactions will be automated using CRM management tools.

Sources  

The following sources were used for the writing of this document:

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