What kinds of companies use CRM software?

If you probe and would like to understand what kinds of companies use CRM, you are unlikely to get any specific names. This is so, because customers are the kings in any business. Whether you are part of a bank, an insurance company, a retail outlet or a manufacturing entity, you need to understand that customers define your business. Using a CRM software will mean that you care for them and are ready to go the extra mile to offer them things, even before they ask for it.

Companies need to realize that CRM software helps in bridging three of the main elements in any business – people, process and technology. There needs to be a process in order to ensure that things take care of themselves. Any business is built around people. Lastly, technology helps you to get things closer.

Small companies use CRM software to help them manage things efficiently. Research tells us that only about 3% of sales happen in your first ever meeting. The % is slightly increased when you meet your customers 2 or 3 times. Eventually, it could take anywhere between 5 and 10 meetings to get a customer. However, this is a time taking process and you need to measure how long it will take for you to go through the entire process from solicitation to sales closure. Unless you have CRM software in place to give you the metrics, things could become rather difficult. Most number of start-up companies use CRM software applications too.

Lastly, big companies and conglomerates find varied uses for CRM applications. These include relationship building with customers, tracking sales processes, analyzing their High Net worth individual customers. Finally, whether you are a small size firm or a huge corporation, it all boils down to adding value!

What is the price range for CRM software?

There are many companies waiting to grab a fair share of the CRM software space. Microsoft, Oracle and SAP are some of the big names that most of us are aware of. In a bid to woo customers, they seem to be offering software applications at great prices. Depending on the kind and size of the company, you may manage to have something installed for as low as USD 5000. However, if you are looking at seasoned players, you may end up shelling amounts as high as USD 500,000.

Apart from this, there are some players who are willing to offer this on a subscription basis, just like how you would rent a library book. You just need to become a member to utilize the services. You do not need to worry too much about maintenance and service related issues. The vendor would be more than glad to take care of these issues on your behalf. Subscriptions as low as USD 130 – USD 150 are possible.

Most vendors focus on making you become first time users. This, they realize, would be possible only if they offer you a significantly low price. Moreover, every company would have different requirements from a CRM tool. While someone would want to manage accounts, someone else might just be interested in customer features. Another company might just place emphasis on the sales process. As a result of increased competition and diverse requirements by different companies, most vendors offer trial packages that may be used for a month or so for as low as USD 35. Once you are satisfied, you may choose to buy the packages.

Lastly, there are companies that use an incremental method of pricing. You may get a basic package for USD 40 or so, some extra applications for an extra 10 dollars or a complete range for USD 70 or so per month per user.