CRM is a software tool—uses by firms—to manage sales pipeline, establish trust, and build a long term relation with customers. Gartner defines CRM as a business strategy that is customer focused and consists of eight building blocks – vision, strategy, customer experience, organizational collaboration, processes, information, metrics, and technology.
To answer this question, you first need to look inside your business, people, and the budget.
People resist change. So make sure to talk to people who would be using or driving this change. This will provide you an insight and help in evaluating the readiness of CRM implementation, anticipating and mitigating user adoption challenges.
Yes, finally all boils down to how much you have to pay to get the right solution and if it is aligned with your budget. Start from finding out the following costs –
If you follow the best practices of CRM, your CRM is capable of not only boosting your sales, but also increasing firm’s revenue and helping in gaining the trust from customers.
Gartner reported that worldwide CRM market grew 12.3% in 2015, from $23.4B in 2014 to $26.3B in 2015. Salesforce continued to dominate CRM market in 2015 with total market share of 18.4% and 28.2% revenue growth from 2013 to 2014. Below is the list of top five CRM in 2015 based on the market share.
CRM technology helps improve and extend relationships with customers. Companies that are planning to invest in CRM should think ahead and take into consideration of their future investment in other CRM-related technologies such as help desk/ customer service, marketing automation, social media integration, knowledge management, field service, channel management, etc.
It really doesn’t matter which CRM is the best in the market. You may purchase the best CRM available in the market, but your CRM implementation may not be successful – at the end, it all depends on how you implementation it!