Customer relationship management is a collection of tools, strategies, and a system that helps any kind of big or small-sized business to access customer data and organize the company. Here in this blog, you will get to know the cost to develop CRM software and with features of CRM software.
Earlier, people used pen and paper to take notes of the data of the customers. However, with the advancement of technology, the system has changed. With time the growth of the company and its customers made it complicated to handle the customer information in handwritten notes.
Thus, with the help of website development services, companies started to incorporate CRM software in their businesses for better management of data management.
CRM development helps to connect various sectors of the business. Marketing, customer service, and sales are connected to gather notes, metrics, and activities into one organized system. Any employee of the company can access the client data required in real-time and hassle-free.
Since multiple teams are working in a company it is impossible to work together and gather all the information in one place. However, with CRM software in the business, the process is simple and shared among all. However, with custom crm software in the business, the process is simple and shared among all.
This not only makes everything simple but also helps the customers with something extra by providing them personalized and one-to-one experience.
In comparison with the ancient system where every data was available in hardcopy and hard to find, the CRM software has made a revolution in the business industry.
Table of Contents
What is CRM Software?
CRM (Customer Relationship Management) software is a type of software that helps businesses manage interactions with their customers, track customer data, and automate various customer-related processes. It allows businesses to store customer information such as contact details, purchase history, communication history, and other relevant data in a centralized database, making it easier to manage and access customer information.
CRM software can also help businesses track sales leads, monitor customer behavior, and provide insights into customer trends and preferences. This information can be used to improve customer service, identify opportunities for growth, and create targeted marketing campaigns.
Some common features of CRM software include contact management, lead management, sales forecasting, customer analytics, and marketing automation. There are many different types of CRM software available, ranging from basic tools for small businesses to more complex solutions for large enterprises.
CRM Software Market Stats
- In 2021, the global CRM market reached $57.83 billion. It’s estimated to grow up to $145.79 billion by 2029 with a CAGR of 12.5%.
- The most important factors that influence the company’s choice of a CRM solution are its functionality, ease of use, and price.
- The most common reasons for businesses to be dissatisfied with a CRM system are a lack of features, expensive price, and poor support.
- Over 91% of organizations with more than ten employees use CRM systems.
- 50% of sales managers claim CRM systems are difficult to implement.
- CRM mostly impacts the company’s customer retention and customer satisfaction.
- The largest market share for industry-specific CRM belongs to professional services with almost 30% of the market.
Types of CRM Software Tool
Here is the list of the best operational CRM software tools:
HubSpot CRM, a cloud-based CRM platform, helps businesses attract leads and analyze business metrics. It can be used by both B2B as well as B2C businesses across many fields, including retail, real estate and sales.
HubSpot CRM makes it easy to monitor outbound and inbound leads, manage the sales pipeline using automation, manage leads and contacts, run email campaigns, and follow up.
Salesforce, a cloud-based CRM system, caters to all companies. It is a single platform that can manage all aspects of sales and marketing across multiple clouds. This allows you to tailor your business’ needs to specific clouds. Salesforce offers companies the flexibility to use different tiers of CRM to meet their needs. Salesforce also allows for separation of operations among teams to avoid over-complexity.
Creatio, a cloud-based software, integrates customer relationship management functionality (CRM), and business process management capabilities (BPM). Creatio integrates basic CRM modules with a BPM engine.
4. Zoho Analytics
Zoho Analytics helps businesses make informed decisions based on data from any system on-premises or in the cloud. This app uses AI extensively to quickly create data visualizations.
These visualizations are available in Zoho Dashboard and can be exported to email, websites, dashboards or any other media. Zoho Analytics offers features to create pivot tables and charts with traditional methods.
5. Zendesk Explore
Zendesk, a cloud-based customer support platform, is used by many businesses, large and small. Zendesk gives companies a complete view of their customers using customer experience data. Zendesk is able to assist companies who have outgrown their CRM system or are searching for new options.
Zendesk also helps with handling large volumes of customer inquiries. The Zendesk Support Platform provides ongoing support to businesses, enabling them to be self-service experts and encourage proactive engagement.
The Features to Develop CRM Software
Some of the famous CRM software used by large companies and website development services in the business industry is SAP, Salesforce, Microsoft Dynamics, and many more.
These software systems are high enterprise solutions with amazing functionality and features. The features offered by this software are high and often meaningless for some companies.
Some software like Salesforce allows their companies to customize the system as per the requirements of the company.
The best option that is often adopted by enterprises is a customized CRM solution for their business. With the thought of customized CRM software, the first thing that pops into the mind of the companies is the cost of developing CRM software.
The cost of developing CRM software entirely depends on the features that the company requires to fulfill all its needs. The features that must be present in the CRM software of a business are as follows.
1. Account and Lead Management
The basic function of any customer relationship management software is to manage and store the required client information. The sales team uses the data on the potential customers, adds and covers new leads into opportunities, and creates new accounts on successful deals.
However, the CRM software development for healthcare automates patient communication but also because it provides insights into that communication. Also it helps the sales team employees to easily input the client details like their names, email ids, mobile numbers, ratings, negotiation status, and comments.
2. High-end Sales Analytics
It is one of the important features that every CRM system must contain. It works as sales representatives that help to create configurable dashboards and sales trend diagrams. The basic utility of such software is easy to drag and drop.
However, for a better understanding, implementation of filtering options like color marking, timeline, and location are made.
3. Sales Planning and Execution
The plans developed by the sales managers are usually done by having proper knowledge of the data provided by the marketing department. The sales managers usually need both sales analytics and the history of the business. The CRM provides an advanced calendar that helps employees to set new goals, add a detailed plan, strategize, make notes and assign work to different team members.
4. Marketing Campaign Management
The functionality of CRM for marketers is a huge benefit for companies to plan and execute marketing campaigns. The marketing managers can create campaigns with various events and add information to these campaigns, handle finance and assign sales team members. The email and messaging functionality are added to the software to create communication among the marketers and team members.
5. Customer Segmentation
Customer segmentation helps to find out the most profitable customer database. This helps the marketers to group the customers according to their activities and behavior. This feature usually uses charts to segment the customers which helps the marketers to filter and modify.
6. Help desk
Every company these days has its support agents to help the customers. These agents need a central interface to view customer requests through various sites like emails, chats, or messages. By hiring a website developer, the help desk helps to add the facility of labeling tickets and creating various ticketing groups.
7. Service Analytics
This section helps to gather information on customer requests, the issues that are already resolved, and how quickly those problems are resolved. The feature gathers information from all kinds of sources, phone calls, tickets, emails, and other social media sites.
Steps to Develop CRM software
We know what to implement, we know why to implement it, and now it’s time to answer how to make CRM software. Different companies and agencies can have different approaches to CRM development. Moreover, depending on the type of CRM you need, the strategy can be changed.
1. Prepare the Business Requirements
This stage includes everything that you will need before you begin to develop the product. This step is essential since it enables you to clarify your objectives and comprehend the product concept.
2. Find the Best Service Provider
This step might not be required if your business employs the appropriate specialists. Your team may not have the necessary experience. Your team might not have the necessary development capabilities.
You can hire a company to develop software for you in such cases. You should pay attention to company location, hourly rates, corporate policy, reviews from past clients, and testimonials. Start if you like it all.
3. Design and Develop
After the team has comprehended your needs and presented options, you may go on to development. Your CRM design should be easy to use and understandable for your staff. Later in this blog, we will discuss the tools that can be used for development and design.
4. Test it!
Your staff will have the opportunity to test the solution and confirm that it satisfies their needs. In order to verify that your product is tested from every possible viewpoint, our staff can carry out both human and automated testing.
5. Support and launch
Well done! Your professionals have already begun utilizing the CRM. The next stage of the process is where you collect feedback and fix bugs in the software. Employees can spot bugs that the tests missed and may offer suggestions for improvements. You can improve your solution and optimize the customer-relationship process by modifying the CRM to what your team needs.
The Cost of Develop CRM Software For The Company
With all the features mentioned above, the cost of developing CRM SaaS products for the company is predictable. The cost of CRM software development depends on various factors. Some of them are features inbuilt in the system, the relative difficulty of the project, deployment cost, and the rates charged by the web development company.
- The sales module with the features like account opportunities, pipelines, leads, contacts, tasks, etc can cost of developing CRM software between $36000 to $39000. The sales analytics is around $8000. The marketing campaign planning features can cost up to $11000.
- The marketing module consists of a marketing campaign management system, customer segmentation, and marketing analytics that costs $9000 individually for all three sectors.
- The support module that is an essential department of every business consists of the help desk, knowledge base, and service analytics that range between $30,000, $6000, and $9000 respectively.
Developing a perfect customer relations management system for the company can be tough. However, by hiring an experienced CRM development company, the task can be completed easily. The professionals can help to list the features required by the companies and provide an estimated cost to develop CRM software of the customized version.
Frequently Asked Questions
How does the development of a B2B portal differ from that of a B2C portal?
The development of a B2B portal typically involves more complex functionality, such as customized pricing, order management, and integration with back-end systems like ERP. In contrast, a B2C portal typically focuses on user-friendly design, easy navigation, and simple purchasing processes.
How much time does it take to build your own CRM software?
The amount of time it takes to build your own CRM software can vary depending on various factors such as the complexity of the software, the size of the development team, the technology used, and the features and functionalities required. A basic CRM software with limited features may take 3-5 months to develop, whereas a more complex CRM software with advanced features and integrations can take a year or more to develop.