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Ways Having a CRM Software Can Reduce Costs for Your Business
Managing a business without a CRM software can be difficult and costly. Whether you run a small, medium, or large business, managing customers, products, marketing, and sales can be overwhelming. The purpose of a Customer Relationship Management (CRM) software is to help your business reduce operating costs and increase sales.
The first step for any business to make a profit is to cut costs. Keeping resources wastage below the industry level is one of the many goals of business owners. The good thing is that a CRM software can help you do just that. It is easier to cut costs, enhance communications with customers, and save time and effort when you are using Customer Relationship Management software.
Ways in Which a CRM Software Can Reduce Costs for Your Business
There are many different ways in which Customer Relationship Management (CRM) software can help you reduce costs for your business; such ways include:
- Enables work on a single system
- Reduces production cost
- Reduces paper cost and waste
- Reduces sales representatives' expenses
- Reduces customer support expenses
- Reduces the cost of mistakes
- Automatically stores contact information
CRM Enables Work on a Single System
When you use CRM software, you can integrate multiple functions from sales, customer service, marketing, business units, and more into one powerful system. Any systems that do not come in handy for your business can be disposed of, and you can choose to use only the essential systems for your business.
You will not need to hop from one window to another to get work done. Instead, a CRM software will allow you to have a full view of all customer information at your fingertips to enhance your communication with customers. This way, you will guarantee an improvement in the efficiency of teams that serve customers and save you a lot of time.
CRM Reduces Production Costs
A CRM software usually has a powerful built-in analytics and accounting tool. Such features enable you to manage your products that are being manufactured or are already in stock. Moreover, you can easily categorize each unit of goods, create interim reports, and analyze which goods have a higher selling rate than others, so you are able to boost their production and promotion.
This way, you optimize your production and invest your profits in creating the products or services that your customers love. You don't want any extra goods to become part of history in your inventory. With CRM, you won't have to deal with any surplus goods, and your production will become optimized, dynamic, and profitable.
CRM Reduces Paper Costs and Waste
Using CRM software will significantly reduce your need to store your data in paper and folders. You will never need to add each new document to the appropriate folder. All of your customers' data will be stored electronically in one place. Data including the first call, purchases, and interests will be saved for your future business needs.
This means that you will be able to print only the most necessary documents that must be printed. Everything else can be done without using a single piece of paper or a folder. Thus, you will not have to spend a penny on paper purchases.
Even the documents that need signatures need not be printed as there are software that allow you to electronically sign important papers and contracts. This can be useful, especially if you own a big business, you will need a lot of paper resources and documents. A good CRM software saves you high costs on paper outlay and printing machines.
CRM Reduces Sales Representatives' Expenses
As we already said, when your business is based on long-term relationships with customers, this means that your representative needs to meet with them personally from time to time. The CRM system makes it possible to plan these meetings competently and to localize them at a minimum distance from each other.
For business, this means lower transportation costs and, of course, reduction of harmful emissions into the atmosphere. Remember? We already said a few words about the environmental mission.
CRM Reduces the Costs of Customer Support Service
Most Customer Relationship Management (CRM) software have a self-service portal that enables users to resolve their issues on their own, without adding up to a load of customer support agents. This way, you save the customers' time and effort and save up time for more serious issues that need the support of your customer service team.
CRM Reduces the Cost of Mistakes
Because the operations are done electronically, the chance of committing mistakes is much lower. The programmed system will help the customers go through the sales funnel, and managers receive instant instructions about what tasks to perform first.
You will no longer mix up contact details, send the package to the wrong customer, or forget to call back any customer. All of the things that negatively affect finance and customer satisfaction will be eliminated. With a CRM system, the likelihood of human error or forgetfulness goes down to zero. Every manager knows what they need to do right now according to the company's strategy.
Automatically Stores Contact Information
Storing important information will save your employees time that could be wasted trying to dig up accurate and up-to-date data on whom they need to prioritize calls. This will also prevent inefficiency, frustration, and wasted time.
CRM software enable you to manage all customer contact information as they are coming. It immediately stores the information in a structured way in a centralized database where you and your employees can access the data any time they need to.
Moreover, because the CRM software is usually cloud-based, you can grant access to all of your employees from any location. This way, they can access important data and information on the go. You will be able to save time resources and enhance efficiency and customer satisfaction.
Best CRM Softwares to Reduce the Cost for Your Business
If you were wondering which CRM can help you save money and cut costs while running your business, you want to go through this section. Here are our top picks with their features, plans, and prices:
Monday.com CRM
Monday.com CRM is our top pick for the best CRM to reduce costs for your business. It allows your team members to communicate and make decisions together by providing them with a platform for business. It also offers resourceful and unique features and functions that are built neatly with a simple user interface.
Some of the features that are included in Monday.com CRM include:
- Exportable contact database
- Customization
- Total visibility
- Mobile-optimized
- Constant monitoring
- Open API
- Lead/Pipeline management
- Tracks prospects, clients & deals
- Consolidated contact information
Monday.com offers its users five different plans that include versatile and useful features that will boost your business and reduce its costs. Here are the plans as provided by Monday.com CRM:
1. The Individual plan
This is a free-of-charge plan that provides features like unlimited boards to organize your data, unlimited docs to collaborate with your team, more than 200 templates that you can customize and choose from, more than 20 column types, android and iOS apps, and a 500 MB file storage.
2. The Basic plan: $8/user/month
The Basic plan provides your business with everything included in the individual plan in addition to features like lead, contact, and deal management, unlimited visual sales pipelines, unlimited contacts, full mobile CRM, document management, full API access, unlimited free viewers, unlimited custom fields, and a 5 GB file storage.
3. The Standard plan: $10/user/month
The Standard plan includes everything in the Basic plan in addition to features such as timeline view, guess access, calendar view, sales analytics, MailChimp integration, automation up to 250 actions per month, 2-way email integration with Gmail and Outlook, integrations up to 250 actions per month, and 20 GB file storage.
4. The Pro plan: $16/user/month
The Pro plan includes everything in the Standard plan plus customized notifications, time tracking, formula column, automation up to 25,000 actions per month, marketing activity management, advanced permission, workflow, and approval automation, private boards and docs, integrations up to 25,000 actions per month, and a 100 GB file storage.
5. The Enterprise plan: Quote-based
The Enterprise plan offers everything in the Pro plan plus features like premium 24/7 priority support, advanced reporting and analytics, enterprise-scale automation and integration, enterprise-grade security and governance, tailored onboarding, multi-level permissions, a dashboard that combines up to 50 boards, and a 1000 GB file storage.
You can request a 14-day free trial before making any commitments.
Zendesk CRM
Zendesk is rich in features that will streamline your customer and client communications while providing you with the right insights and tools to optimize your campaign's performances to reach wider audiences and generate more profit.
It includes features such as:
- Sales email intelligence
- Native dialer
- Integrations and API
- Sales prospecting
- Sales reporting and analytics
- Mobile CRM
Zendesk offers four business plans that include:
1. Sell Team plan: $19/user/month, billed annually
This plan includes features like email integrations, 3 paid users, 1 custom sales pipeline, built-in click-to-dial and call recording, mobile CRM, and apps and integrations.
2. Sell Professional: $49/user/month, billed annually
This plan includes features such as email integration, unlimited paid users, 1 custom sales pipeline, built-in click-to-dial & call recording, fully-featured mobile CRM, apps & integrations, personalized bulk emailing, unlimited email templates, sales goals & forecasting, unlimited custom fields, and advanced call analytics.
3. Sell Enterprise: $99/user/month, billed annually
This plan offers all the features included in the sell professional plan in addition to 2 sales pipelines, power dial, personalized bulk emailing, unlimited email templates, activity reports, advanced permissions, product catalog, load and deal scoring, task automation, and customized notifications.
4. Sell Elite: $199/user/month
This plan includes all the features included in the sell enterprise plan plus open API, rep performance reports, advanced sales insight reports, and success insight reports.
Salesmate CRM
Salesmate offers industry-based solutions for customer relationship management that promise to help you boost your business as you close more deals with its feature-rich platform.
It includes features like:
- Contact management
- Sales pipeline
- Sales automation
- Built-in calling
- Text messaging
- Marketing automation
- Google integration
- Customizations
- Product management
Salesmate also offers four plans, including:
1. Starter plan: $12/user/month or $144 billed annually
This plan includes features like contacts, companies, deals, email sync, tracking & templates, multiple pipeline management, standard dashboard & reports, workflow management, built-in calling & text, web forms, and lists.
2. The Growth plan: $24/user/month or $288 billed annually
The Growth Plan includes everything in the Starter plan, plus product management, goal management, email reminders & scheduling, team inbox, custom dashboard & reports, date-based workflows, custom roles, and SSO/SAML integration.
3. Boost Plan: $40/user/month or $480 billed annually
The Boost plan packs everything in the Growth plan, in addition to team management, increased team inbox limits, smart activity queue, power dialer, voicemail drop, smart activity queue, IP restriction, and increased workflow & sequence limits.
4. Enterprise: Quote-based
The Enterprise plan is the fully-featured CRM package you get from Salesmate, and it includes everything from the previous plans plus dedicated account manager, personalized onboarding, priority support, dedicated instance, dashboards – unlimited, increased workflow limits, permissions – unlimited, and increased sequence limits.