10 Myths about Customer Relationship Management (CRM) Solution

In this Technological Era, it’s necessary to Manage your business efficiently with best possible technological solution. Customer Relationship Management (CRM), is one of the best technological inventions for business. With the help of a good CRM Solution an organization can analyze, manage and maintain business data for all modules and employee’s data as well. It helps you to track interactions with your customers and provide assistance in developing ongoing relationship with clients, starting from first point of sales. CRM is a perfect solution for task management, lead nurturing and project management.

CRM is a boon for all organizations, but still there are many myths about Customer relationship management (CRM), that curbs organisations from choosing this solution. These myths can be on technology, user experience, functionality, etc. based on the experiences of different users. So while looking at these myths, one should always keep in mind that how this functionality is going to be unique for you or how your experience could purely be different from others. Following are top ten myths about Customer Relationship Management Solution (CRMS):

1) CRM is too complex : Most of the people, especially the ones who are not from IT industry, think that CRM is complex to use. To operate CRM you need to have a technical degree or must be extremely tech savvy. This myth or this perception is actually not true. Most of the CRMs today are quite easy to use, with just the basic knowledge of computer or devoting some time in learning you can easily get proficiency. If you have a complex or larger installations training sessions can actually help you to get familier or more comfortable with the software.

2) CRM is for giant corportates only: It is actually a myth that CRM is for big businesses and has no practical use in small organizations. CRM solutions helps to automate your business process, centralizes the data and improves customer experience. In present time, small and medium sized businesses have also benefited with CRM and not just small business if you are an self employed individual with no employees, CRM can help you too

3) Pick any, they are all the same: Neither all the applications are same, nor every solution suits your business. While choosing CRM solution for your organization,  make sure you choose the right technology. The things to keep in mind are obviously the size of your business, how many regions you conduct your business in, how many offices you have because you need to sync your business data and information. Different software offers different customization and scalability should also be there for years to come.

4) Implementing CRM is really expensive: The most popular myth related to CRM is about implementation cost. If you are going for market leaders or huge brand names it might cost you a bit. But, there are many other options available in the market from where you can get affordable CRM with all the required features. Not just implementation, the maintenance cost and the upgradation cost are easily affordable. Many companies offer free trial before full fledged installation which makes it easy to understand before taking the final decision.

5) Long process of Implementation: CRM implementation takes long in one condition only, i.e. If the data of your company are huge and you choose an inefficient vendor. So while choosing  a CRM solution for your organization, you need to do proper research for an efficient vendor.  Discuss  all the details about your business with them and ask for the exact time frame for the implementation.

6) Hidden costs after implementation: CRM solution really doesn’t have hidden costs, before or after implementation. While doing research for the CRM solution for your organization, discuss it all with the vendors.  What is the requirement of your business and what customizations you need. On the basis of your requirement you’ll get an estimated cost of the customized installation and support. After installation if you upgrade the software, it may cost you a bit, but for growth of the future it is going to be a minimal cost

7) It is for customer service only: CRM or Customer Relationship Management as the name suggests it was used for customer services in the past. It certainly took customer service to a new heights, but CRM web Solutions have evolved over the time and is now capable of handling all the sales and marketing needs of your business. With the help of Modern CRM you can easily track and review history and make or plan new strategies with improved efficiency which helps your business grow.

8) There is no data security: Data security is obviously a big concern for all the business. So all cloud service providers take all necessary precautions to keep your data safe. CRMs have data encryptions, firewalls and requisite security protocols, including other parameters to make your business’s data secure. Every cloud provider go through every small details and take required precautions, so that all the data remains secure.

9) No return on investment: Complete CRM solutions keep your business information centralized so be it marketing, sales, customer service or finance it helps to increase productivity. All the decisions and processes gets easier resulting in getting more leads or increased productivity of the sales team,  which results in increased customer satisfaction. Return on investment (ROI) can be tracked easily with the impact on its business or the reports generated from CRM

10) CRM Won’t work with our existing system: The Organization who uses different kind of systems or applications, often get concerned about the compatibility or integration of their existing system with CRM. CRM solutions providing companies or vendors make it easy for you with integration of CRM with your other softwares, so you don’t have to enter the same information again saving a lot of time and leading to easy operations

So, while choosing the best CRM solution for your organization always think about the requirement of your business and how CRM can help your business without worrying about these myths.

 

Planning to implement CRM for your organization, choose the best in class service provider in Delhi. Get a quote or fix a meeting @ 91-9711887604 or  info@mindztechnology.com or just log on to http://www.mindztechnology.com

History of Customer Relationship Management (CRM)

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Customer Relationship Management (CRM), is a software tool used by various firms to build a long term relation with customers, manage sales pipeline and establish trust. An expert has defined CRM as, “A computerized system for identifying, targeting, acquiring, and retaining the best mix of customers”. But the CRM, hasn’t always been the most robust, self-contained software that so many businesses rely on today. CRM has undergone sea-changes over the time.

Traditionally, every transaction used to be on paper and was totally dependent on goodwill which created difficulty in to clasp customers. People used to work hard to retain customers by proposing new products with phenomenal services. This too resulted in customer satisfaction and loyalty up to some extent, but at the end of the day there was no such bonding or relation between the two to carry on with future business smoothly. CRM originated in early 1970s and the first CRM software program was only one-dimensional and was used for filling cards with customer details. However, Origination of CRM turned out to be a piece of cake for all suppliers and customers due to its advantages. It came as a process that conversed building relationship with customers, surpassing the whole business.

1970s- Originally Customer Relationship Management Software was based on three major principles; Upholding the current customers, acknowledge new customers and improving benefits of all the customers.

1980s– In the mid 1980s, to increase conversion rates, the marketing professional started to communicate directly to the clients. This was the beginning of database marketing. Now, organizations were combining information related to the customers with sales strategy.

In the late 1980s, various business units like sales, marketing, accounting and customer service were all connected through back office applications. This was the era of the launch of Contact Management Software, which led to effective marketing calls (Cold-Calling) to sell their products. In 1986, first digital rolodex ACT was introduced, and customers soon started to get familiar with CRM. Now various platforms like analytics, transactional databases, and customer data were consolidated.

1990s- In early 1990s, the first major step in augmentation of CRM software was Salesforce Automation. Sales Force Automation provided all the features of Database marketing combined with contact management. This helped firms in getting useful information about their customers. Not just these, SFA also automated the difficult tasks like inventory control and tracking the customer interaction.

In mid 1990, the term Customer Relationship Management was used for the first time. So in 1995, CRM got its name as it was no longer just a customer solution software, it has all the features required by a business like product planning, manufacturing, shipping in addition to sales, marketing, payment and many more..

In late 1990s, First mobile CRM was launched, though mobile technology was not so popular. First major software-as-a-service i.e. SaaS CRM was launched. Now CRM was available for small businesses too

2000s to Present– Sales and development of CRM products got affected by the launch of many dotcom bubbles.

In Mid 2000s, Software giant Microsoft entered the CRM market with Dynamics CRM, and Oracle acquired Siebel and numerous other enterprise application vendors.

In Late 2000s, the next big change in CRM industry was created by Salesforce with the launch of cloud-based CRM. Cloud-based CRM was combined with Saas Based CRM and all were convinced that the new customized web based CRM can be used specific business requirements

At present, CRM softwares are integrating more features for Customer Service and Social CRM. It has continued to gain popularity mainly because of focusing on customer satisfaction, Very flexible platform and easy integration with mobile devices.

If you are looking for customised CRM solutions please visit – Mindz Technology