CRM for Startups – Is Cost a Major Issue?
The corporate world has embraced technology to overcome obstacle it used to face, and the growth rate had expedited exponentially. With ERP, CRM and cloud bases system, the whole process is now digitalized. Yet, in case of startups, there always some uncertainty. When it comes to implementation of technology and new systems, startups are not always willing to jump into a decision right away. They prefer to wait and watch before embracing the change.
The question is how long should they wait before they invest in a CRM?
The answer is, not at all.
When a business makes an investment, the major concern is the ROI it will obtain. For startups, however, return on investments is not major concern. The main focus is to attract customers and sell products/service.CRM empowers the sales force and increases the number of sales for the company. This means it naturally fulfills the mandate of a new startup. Therefore, the best time to calculate the true impact and value of a CRM is the beginning of a business.
Cheap is Not Always a Friendly Term
Speaking of startups and implementation of CRM, there are numerous examples where new businesses have badly failed in this experiment. The biggest reason behind their failure is that they focus way too much on the cost. While it is true that they are on a small and tight budget, there are systems where spending more will only return more. Such is the case of CRM.
You can purchase a basic version of an old school CRM, but the difference you’ll see would remain equally small. Investing in an advanced and sophisticated CRM, however, will cut the whole process down enabling your sales team to make sales much easily and rapidly. Despite this speed, a fully loaded CRM will enable them to keep better track of the products or opportunities that are more popular. You can focus on products and strategies that work while shunning those that don’t. Not only will you enhance your sales, you will be able to understand the demand more accurately. As a result, you will be able to divert your focus on products and efforts that actually promise quick and definite returns.
Focus on Functionalities for Future
Okay, so if spending more on CRM is really a startup friendly decision, why do some of them end with a loss?
Businesses, specially, startups with small budget must focus on the functionality more than the cost. Here, an important thing to remember is to make sure the functionality of the CRM aligns with the requirement of the company. You may not need those functions and features right now, but eventually, it they might become a requirement. A CRM solution that fulfills current and future requirements of your business is one that will deliver the best ROI in the long run. However, you must conduct proper research to analyze the current and prospective needs of the team first.
If you are able to implement a CRM solution that perfectly fulfills your current requirements and lives up to your future goals, you can definitely start off with a winning system.