CRM helps businesses streamline the sales process, improve interdepartmental collaboration and maintain business relationships. Many startups have been integrating it into their marketing stack for its powerful features.
A CRM software performs the following activities:
• Collects customer data from multiple sources and applications and store that to a centralized location.
• Automates repetitive sales, marketing and customer service process.
• Tracks prospective customers through their purchase journey.
• Identifies up selling and cross-selling opportunities.
• Promotes interdepartmental collaboration.
With so many functions to offer, CRM should have been accepted in every field but unfortunately, there are certain myths associated with it which would be learnt in the following paper. Let’s take a look at the myths that are popular in recent times.
• CRM is Expensive: This myth was true in the nascent stage of CRM. Employing enterprise CRM those days would usually mean spending thousands of dollars on licensing, installation, setup, hardware, training cost as an initial investment only to use a CRM.
But, after the arrival of Cloud Technology in the market in early 2000, prices started dropping drastically. Today, due to severe competition followed by efficient cloud storage solutions, every SMB owner may afford to invest in a good CRM product. If you may be wondering, it takes an investment of $0 to get started. It’s not a joke; there are a great deal of CRM by reputed companies that gets you started without a single investment.
• Only large organizations require a CRM: The logic to this particular myth is deep rooted to the previous one. Because of the costs involved after launch of CRM, only bigger organizations could afford them. Scenario has changed now. CRM vendors have successfully come up with plans for small, medium enterprise and startup businesses to cater to their needs.
If someone hesitates whether or not to use a CRM, here is a solution. If as a business, your aim is to sell better and communicate effectively with prospective consumers and clients, then you should shift towards a CRM. Also, with the help of a good CRM, you shall be able to automate plenty of repetitive, manual tasks while enhancing your productivity.
• CRM is Complex: Another myth that slithers from the late 90’s is, CRM is much difficult to understand and use. Early CRMs were gawky, hard to use and needs extensive training. And in case any technical difficulty comes up, you need to rely on the IT staff to get it fixed.
Not anymore! Modern CRM is easy to use, possesses intuitive UI/UX and works well in any web browser. Its setup is quite easy and may start with basic computer chips. Some CRMs even have an on-boarding program getting the user accustomed to the product. If the user gets stuck while using the system, customer support is available to help promptly.
• There is a Data Security Threat with CRMs: Since modern CRM is based on cloud technology, another misconception associated with it is that of data security. With new data leaks hitting the news frequently, its evident for business owners for such concerns. But, CRM developers go great lengths to secure your data. They have security certificates, firewalls, data encryption and other preventative measures in place.
Also, it always helps from the business owner’s side to take safety steps which could include choosing the right CRM vendor, training their employees and monitoring activities of CRM to protect their data.
CRM has little use excluding Storing Information of the Customer: With new Software-as-a-service ( SaaS ) applications setting foot in the market daily, CRM has adapted itself according to the new age. No longer is CRM used just to store customer details. It has gone through a metamorphosis which has made it a suite of features which include sales and marketing operations as well. Some of the CRM has converted itself into a full-blown marketing automation system which performs various activities such as email marketing, landing page creation, ad campaigns etc.
If you have an exciting suite of tools that you don’t want to move away from, don’t worry. Most CRM vendors provide integration with other tools which make lead import and report generation a breeze.
However, apart from these, some other less known myths also exist which will be described below :
CRM solution is not Customizable: Some businesses set off under the assumption that no CRM software can match their personalized consumer processes. Such businesses do not want to resort to a generic, cookie-cutter CRM system and the good news is, the need not have to.
CRM is customizable and it is essential for any CRM user to involve working with the selected vendor and develop the necessary process realignment. After all, the goal is to offer finer customer service than before. Which will be achieved with an implemented system, enabling more targeted and individualized interaction with customers.
Maintaining a CRM takes a whole team of people: This software is being blamed by people for being inflexible, overly complex and expensive. But, the beauty of this software is that it provides a process and system for managing large volumes of customer information by one person or a team. It is so flexible that even One person may manage this system.
The Final Takeaway
Well, these are just myths which don’t hold a solid base. If you are willing to improve customer relationships, you ought to use a CRM.
