Reports have that CRM technology is about to rise to $128.97 billion by 2028 with a CAGR of 12.1%.
That’s fantastic news for all who are looking for Salesforce consulting services or implementation integration of any other CRM.
The world of technology is evolving at a fast pace. Business from different industry verticals, be it small, medium, or large scale, is striving hard to cope with the technological evolution. One of the most important technologies that businesses require in the present time is the Customer Relationship Management solution a.k.a CRM.
Be it a Salesforce consulting service or service related to any other CRM; they are essential for the business growth, stability, profitability, and for generating greater Return on Investment.
CRM Solutions and Some Trending Stats to Ponder
The market of CRM Software is the biggest in the world. It is expected to reach more than 80 billion USD in revenue by the year 2025.
As per business.com, 91% of companies with 11 team members are leveraging the benefits of CRM software.
With the advent of mobile CRM, things become more streamlined. According to Froester, companies that are utilizing mobile CRM, 50% have experienced an improvement in their productivity.
Here are a few stats that will help businesses to ponder on why to invest in Salesforce CRM or any other CRM:-
- CRM technology is used by multiple departments – 80% by sales, 46% by marketing and 45% by customer services
- On every dollar spent on CRM, companies earn an average of 8.71 USD.
- Sales teams spend merely 18% of their time on CRM and remaining on Sales related activities, which improves productivity.
- CRM is the largest area of enterprise software investment.
- 64% of companies consider CRM technology to be either impactful or very impactful.
Price Comparison Points To Consider While Selecting The Right CRM Software
With so many options of CRM software available in the market, it becomes quite daunting for businesses to select the right CRM. What’s more tricky is to select the one that offers full value in return.
Therefore we have brought to you the important points related to CRM pricing, which you can take into consideration while making a final decision.
The License Fee
The first and important factor which one has to discuss at the time of finalizing the CRM is the license fee. Different CRM software has different license fees.
The license fee of the CRM is generally charged on the basis of a per-user subscription. It could be monthly or quarterly. The best way to calculate the business cost is by multiplying the monthly sum by the number of users that will use the CRM software.
|Version of CRM||Average Monthly Cost Per User|
CRM Pricing Models of Different CRM Software
Fees for CRM Set-Up
When you bring in CRM software, you are introducing your business to a new world of technology. There are multiple CRM vendors who make CRM set up super easy for you, whereas there are some experts who believe that a business should hire a Salesforce consultant or any other CRM consultant for a successful set-up. It will help businesses configure the new software and get time to get acquainted with it.
No matter whichever option you choose, always keep this thing in mind that setting up CRM brings additional costs attached to it. It is essential to have the guidance of an experienced & certified Salesforce consultant or CRM professionals that will help you save tons of dollars in terms of revenue, productivity, improved customer services, etc.
Whenever you are on the quest to purchase new CRM software, make sure your legacy hardware system matches with the vendor’s recommended specifications.
Hardware also plays an important role while you finalize CRM software. It often happens that both software & hardware don’t get compatible with each other.
It is advisable to always include the cost of the best possible hardware while selecting CRM. Choose hardware that you can afford and which goes with & support CRM solutions.
If you are in doubt, you can connect with the consultant of CRM life Salesforce consultant or you can discuss your doubts with a CRM software manufacturer.
Cost of Implementation
Salesforce implementation service is a long & multi-stage process. The same goes for other CRM implementations. As CRM implementation is a long process, we can consider time to be a pivotal factor that decides the cost of CRM.
Along with time, the implementation process also includes a team of CRM consultants that will execute the process. So, the time required to migrate or import data and the staff required to execute the migration, also are the factors that decide the cost of successful CRM implementation.
Other factors in the CRM implementation process that affect the cost of CRM include:
- Staff productivity during CRM integration & customization.
- Period of adjustment that employees will take to get used to new CRM.
- Time CRM users take to understand what they are supposed to do with a new CRM.
Every CRM software comes with support. Make sure the CRM version you select comes with enough support, which you & users will require. Ask yourself if the support coming with CRM is sufficient for you.
Every version of CRM has a few support pointers, for example; the basic version of CRM might not come with 24*7 support whereas the advanced version has some additional support services, but to avail of that service you are asked to pay an additional annual fee or you may be asked to buy a more expensive pricing plan.
Talk to your CRM vendor about the support that they offer with the CRM version. Also, ask them to outline support services in writing. It will help you finalize the cost and prevent unwanted budget-related surprises.
For the businesses that are keen on investing in CRM software, we have penned down the important factors that are pivotal in CRM cost estimation.
For more details on CRM costing, you should hire a Salesforce consulting company or any other CRM development partner, the experienced professionals will fill you with all the things you require and solve all your cost-related doubts.