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Busting the CRM myths

Customer relationship management (CRM) solutions have become wildly popular in recent years for good reason.

These tools can help a business improve sales and customer service significantly. Moreover, with the advent of cloud computing and big data, companies have even more options when it comes to which data they can leverage to improve operations.

However, despite the rapid growth of CRM technology, many businesses remain skeptical for reasons that are simply not true. Here’s a breakdown of the top myths that are wrongly keeping companies from adopting CRM software, according to Business 2 Community.

The first myth is that implementing a CRM system is time consuming and costly. Yes, such a project will entail moving all existing customer information to a new location, training staff members on how to use the new program and keeping all data readily available and secure.

But in the age of cloud computing and advanced data transfer and migration systems, this task has become much less daunting, and is no excuse to put off integrating an advanced new CRM solution.

Another common misconception is that these systems are expensive, and cannot promise any return on investment. Again, this is not the case for the majority of businesses. Per-use pricing models and plan structures that accurately reflect business needs are available for all businesses, so finding one that is the best fit is simply a matter of due diligence.

As far as ROI goes, a good CRM system can makes the sales funnel much more structured, and ultimately help the sales team track and close big deals. In this sense, the ROI should be obvious.

However, there’s no guarantee implementation will be an easy process. Over the past decade, annual implementation failure rates have hovered around 50 per cent, mostly because companies fail to due the proper legwork before integrating the system.