A real buzzword in the business world today, customer relationship management (CRM) has tongues wagging and there’s good reason for it. With the increase in use of CRM software on mobile devices, CRM software is now the biggest software market in the world and there’s more—CRM is expected to grow revenues from $39.5 billion in 2017 to $80 billion by 2025.
Until recently, getting their employees to adopt and use CRM software had been a struggle for many businesses. However, the CRM adoption rates have increased dramatically in these organizations with the increased use and dependence on mobile technology. Perhaps, most of the credit for this should be given to the adoption of cloud-based CRM solutions by businesses, which has allowed employees to access the software anywhere, at any time, and on the smart device of their choice.
Whether you are a small business or large enterprise, you cannot deny the importance of customer relationship management (CRM) software for your company. While CRM has been around for years, it is only recently that the software has taken on a significant and more mainstream role in business operations.
CRM can benefit businesses of all sizes and types, because it is designed to organize customer data in a way that improves customer experience, generates sales, and personalizes every interaction with the customer to ensure they come back.
For instance, CRM analytics that use organizational units and territories provide capabilities for preparing reports, performance measurement and process improvement opportunities. With a CRM system, you can manage, analyze, and quickly respond to interactions with current or future clients or customers.
With a good-quality CRM system in place, businesses can solve specific problems within the customer or client relationship cycle, increase focus on customer retention, and drive sales growth. The return on investment (ROI) of CRM is also quite decent. According to Nucleus research, the average return on investment (ROI) for CRM is $8.71 for every dollar spent.
Moreover, Aberdeen research reveals that effective sales organizations are 81% more likely to be practicing consistent usage of a CRM while Salesforce says CRM applications can help increase sales by up to 29%, sales productivity by up to 34% and sales forecast accuracy by 42%.
The point is that a good-quality CRM system can prove extremely beneficial for any organization or business. But what is it that makes an effective CRM system? The biggest quality of an effective CRM system is that it is up-to-date and accessible by everyone in an organization or team. Cloud-based CRM software fits the bill perfectly.
A great platform for maintaining good customer relationships, Cloud-based CRM software is being increasingly adopted by businesses that want to enhance the efficiency and capabilities of their CRM systems. In fact, the adoption and use of Cloud-Based CRM is one of the fastest growing trends in customer relationship management today. While we are a 100% sure that you won’t be complaining after the adoption of Cloud-Based CRM, it is only right for you to know what other CRM options you have in the market besides Cloud-Based CRM.
A customer relationship management (CRM) system can provide immeasurable benefits to any business. However, it is critical to choose the right CRM system for the company. Deploying the wrong model would hinder a business’ CRM software solution. There are two primary methods for deploying CRM:
- On-Premise CRM systems
- Cloud-CRM Solutions
What is the difference between the two CRM deployment models and which one would be better for your business? Let’s find out.
With a CRM system, you can improve your customer experience, build closer connections with your customers, sell more, and grow your business further. In the past, CRM deployment required an expensive on-premise solution, however, the advent of cloud-based CRM had made a CRM software solution accessible to most businesses today.
Previously, to cater to their needs, large businesses would develop their own CRM. However, this was out of bounds for most small and medium-sized businesses (SMBs) due to the high costs involved in the system’s implementation. The introduction of Cloud-based CRM was a shot in the arm of these businesses as it allowed them to access a CRM system without needing to pay an exorbitant amount for it.
Not only is Cloud-based CRM an affordable CRM solution for business, but it can also adapt to their changing needs. Affordability and adaptability of Cloud-based CRM systems are just a couple of the countless benefits of choosing Cloud-CRM over on-premise solutions. Following is the full list of benefits of using such a system:
Ease of Access and Mobility
The key to successful customer relationship management is system accessibility. Therefore, the sales team must be provided with a platform that allows them to work with the CRM tool seamlessly. Cloud-based CRM ensures this by going out of the way to prioritize user experience (UX). Cloud-based CRM providers offer interactive dashboards that are visually appealing and provide meaningful data to draw proper conclusions. Full email integration right into the CRM system is also part of the package.
Another key feature of Cloud-based CRM is mobility. The software can be accessed from anywhere, at any time, and using any device, which is possible due to the hosting server being based in the Cloud and not in a particular office or location.
Ease of Deployment
Whether you are a small business or a large enterprise, Cloud-based CRM systems are fast and easy to deploy. This is because the deployment occurs through the internet; there’s no need to install complex hardware or disrupt your existing infrastructure. Paying for software licenses is also not required.
The CRM provider will take care of most of what is required for deployment. Also, you won’t need to worry about maintaining the CRM system, or setting-up data servers to host the bundles of information. Cloud-based CRM software stores data in the cloud which can be accessed by anyone in the team/organization and be shared through third-party integrations.
There are many costs associated with the deployment of an on-premise CRM system. You have to pay for the initial purchase of hardware and software and then there’s the on-going costs of upgrades and maintenance. All this can make on-premise CRM extremely expensive.
A great option for businesses that cannot afford an on-premise CRM system is Cloud-based CRM. The main cost associated with this CRM solution is a subscription fees, which is usually paid monthly. The cost of subscription varies based on how many users need to access the system. The maintenance and upgrades to the system are taken care of by the software provider, which means that a business does not have to worry about the costs of maintaining and upgrading their CRM system.
Easy to Upgrade
While an on-premise CRM system requires a dedicated IT- team working on-site to carry out upgrades, a cloud-based CRM system is upgraded by the CRM vendor providing the services. You do not have to do anything specific for this.
An organization may need to scale up or down its CRM system when the scope of its operations grows or shrinks significantly. To scale with a non-premise solution, you need to purchase and install additional hardware on-site, which can be both expensive and time-consuming. On the other hand, the only thing that a cloud-based CRM system needs to scale is for the cloud to have sufficient capacity to accommodate the increase in data input, which is actually taken care of by the CRM vendor. You only need to login into the system and signup for the additional seats.
Flexible Integration Process
To store information about the customer relationship initiatives of their sales team, businesses utilize CRM tools as databases. To enhance the flow of information, cloud-based CRM makes the integration process easier and smooth when other applications such as emails are attached to it.
Centralization of Information
With a cloud-based CRM, you can get all the customer information from one place at any time. This centralization of information promotes sharing of information in an organization and provides instructions to the team on the messages to read and send to their prospects.
With Cloud CRM, users can collaborate on a single platform without any interference. Each team member is provided with his or her own login, which makes it possible to access all the information in the platform. This of course depends upon what kind of authorizations in the CRM system you are given.
A major advantage of Cloud-based CRM systems is that data is automatically backed up to the cloud, which can be critical in the event of the loss of crucial data. By backing up data to the cloud, Cloud-based CRM makes it easy to retrieve and restore in case it is lost due to a system failure. Also, system failures are less likely with cloud-based CRM as CRM providers have backup servers to ensure that businesses keep things running.
To ensure high-level security,Cloud-CRM providers take major steps and precautions. This includes allotting strong passwords &multiple steps verifications and having advanced automated backup policies and clear data recovery plans. This ensures that whenever a breach happens, data can be recovered successfully each time.
Cloud-based CRM systems have proven to increase the productivity of salespeople. This is because with Cloud CRM, sales reps are not tied to an office, and they can track customers more efficiently from anywhere. More importantly, they can initiate meaningful conversations and collect real-time data. All this allows the reps to deliver actionable insights that increase productivity across the board.
As shown above, Cloud-based CRM has the advantage over on-premise CRM in more than one way. However, it is crucial to choose a functionally rich Cloud CRM platform that can help any business to bring improvement in its sales and support operations.SolastisCRM fits the bill perfectly.