- May 22, 2023
- Estimated reading time: 6 minutes
Why you should build your own CRM software?
Everyone is aware of the advantages that a CRM (Customer Relationship Management) application provides. Many companies, however, struggle when attempting to adopt existing CRM solutions and the big question is whether or not they should develop their own CRM.
We understand the complicated nature of this problem and how it affects business operations, productivity and cost. In this article, we aim to help you simplify the complexity of the problem and explain all the aspects regarding whether you should develop your own CRM or not.
What are the risks of adopting to a ready-made CRM?
Deciding to invest in a ready-made CRM solution and to integrate it into your company’s operations, means you’re accepting to take a risk.
Here are some questions you need to consider prior to taking such a decision:
- What if your company outgrows the CRM pricing package that appears to be suitable for the time being?
- What if prices rise dramatically in the future and you haven’t budgeted for it?
- Is your CRM provider planning to invest in continuous product improvement?
- Will your team use the tool and the system as designed to get the most out of it?
Why is a CRM essential for any type of business?
- Organize Customer Data: Today data is power. The more you know about your customers, the better you can serve them. A CRM is a central repository for all customer data, capturing interactions across various touchpoints in real time. Unlike Excel, where data often sits stagnant and can quickly become outdated, a CRM offers a dynamic, accurate, and organized view of your customer base. From basic contact details to purchase history, feedback, and beyond, a CRM ensures all valuable information is just a few clicks away.
- Improve Customer Service: In today’s business landscape, customer service can make or break your success. A CRM allows your team to quickly access a customer’s history, from past purchases and interactions to preferences and queries. This facilitates faster, more personalized service, dramatically enhancing customer satisfaction. In contrast, with Excel, finding a specific piece of information can be like looking for a needle in a haystack. The time saved with CRM can be channelled into providing superior service.
- Boost Sales and Marketing Efforts: CRM is not just about managing customers. It is a powerful tool for driving sales and marketing initiatives. It allows for precise customer segmentation, targeted communication, and comprehensive campaign management, all of which can improve your return on marketing investment. Excel, with its limited functionality, cannot provide these advanced capabilities. With a CRM, your marketing and sales teams can work in tandem, maximizing their efforts and driving business growth.
- Enhance Collaboration: Successful businesses thrive on effective communication and collaboration, and this is where a CRM really shines. It allows team members to share customer data and insights, streamlining processes, and preventing information silos. Everyone stays updated on customer interactions, fostering better internal coordination. In contrast, sharing Excel files can lead to version control issues, potential data loss, and confusion. By centralizing information in a CRM, your team can work together more efficiently and productively.
What are the benefits of a CRM?
- Better Decision Making: With a CRM, you’ll have a goldmine of customer data right at your fingertips. This wealth of information goes beyond basic demographics to include buying behaviours, preferences, and interactions. By analyzing these data, you can identify patterns, trends, and opportunities, facilitating smarter, data-driven decisions. This level of insight is simply not possible with Excel, as its capacity for real-time, comprehensive data analysis is limited. The informed decisions you make with a CRM can lead to more effective strategies, improved customer satisfaction, and ultimately, business growth.
- Increased Efficiency: One of the biggest benefits of a CRM is its ability to automate routine tasks. From sending out follow-up emails to updating customer records and scheduling appointments, a CRM can handle these mundane tasks, leaving your team free to focus on more strategic activities. This level of automation is beyond Excel’s capabilities. In an era where time is money, the increased efficiency from a CRM can lead to significant cost savings and enhanced productivity.
- Customer Retention: In the business world, it’s well-known that retaining customers is much more cost-effective than acquiring new ones. A CRM aids in this by tracking customer behaviour and identifying opportunities for proactive interaction. For instance, it can alert you when a customer hasn’t made a purchase in a while, prompting you to reach out with a special offer. This level of personalized attention, impossible with Excel, can greatly increase customer loyalty and retention.
FAQ
Absolutely! One of the main advantages of a custom CRM is its flexibility. It can be designed to integrate seamlessly with your current software systems, creating a unified, efficient platform for your business operations.
Yes, indeed. The beauty of a custom CRM is that it’s tailored to your specific needs, so you only pay for the features you require. This makes it a cost-effective solution, even for small businesses. Plus, the ROI, in terms of efficiency gains and customer retention, often outweighs the initial investment.
Security is a top priority for any business system, and a custom CRM is no exception. At Smartape, we develop such application with robust security protocols to protect your valuable customer data. As it is custom-built, you can also request additional security features to suit your specific business needs.
Absolutely. A custom CRM is designed with multi-team accessibility in mind. It can be configured to allow access to different teams, ensuring smooth interdepartmental collaboration and more efficient operations.
Indeed, a custom CRM is highly scalable. It’s designed to adapt and expand in line with your business growth. Whether you need to add new features, increase storage capacity, or accommodate more users, your custom CRM can evolve with your changing needs.
