Choosing the right CRM vendor is crucial in the execution of CRM strategy. A well implemented CRM system automates sales, customer service, and marketing. But the wrong vendor will waste a lot of resources. This guide will assist you in determining the right CRM vendor by highlighting selection focus areas and providing a checklist for vendors.

Step 1: Understand Your Business Needs

Prior to looking for a CRM vendor CRM, it is vital to assess what the organization requires. Answer these 5 questions to assess if your company requires a CRM system.

1. Are You Finding It Difficult to Capture Sales Leads?

• Do you find yourself perplexed trying to track leads and sales productivity?
• Are your sales reports strung together in excel sheets and old MIS reports?
• Then a CRM is required for lead capture to improve lead tracking.

2. Are You Looking to Enhance the Customer Servicing Efforts?

• Are you looking to enhance the customer servicing efforts?
• Do you find it difficult to get back to customers in a timely manner?
• If yes, CRM systems will greatly enhance your customer servicing by assisting in an automated manner.

3. Are You Looking to Improve Sales Reports?

• Reports generated from sales activities are important for your company’s strategical choices.
• CRM becomes necessary if there are no proper reports in place for daily, weekly, or monthly sales.

4. Do You Have Problems with Business and Customer Data Analytics?

• Companies always have to collect the data within and outside the company.
• Internal data is composed of information from finance, HR, and marketing.
• External data is information about customers, including their interactions, purchases, and other transactions.
• If you have data that doesn’t seem to have a structure, a CRM system will help you structure it and visualize it in a way that makes the most sense for your analysis.

5. Are You Getting Poor Results from Your Digital Marketing Efforts?

• Have you put money into digital marketing but haven’t seen any returns in the qualified leads?
• CRM systems help monitor engagements with customers to boost lead conversion.

If your answer was “yes” to most of these questions, then you require a CRM. Let’s proceed to choosing the right vendor.

Step 2: What To Look For When Picking A CRM Vendor?

Here is a 19-point checklist to evaluate CRM vendors before making a decision.

1. Management of Leads

• The CRM should automatically be able to split the leads.
• Check that the system automatically allocates leads to relevant members within the sales team.

2. Customer Support Automation

• The CRM needs to automate customer service processes.
• If the vendor’s CRM system does not have automation, pick the next vendor.

3. Data breakdown and Presentation

• The system should issue daily reports of sales, customer contacts, and complaints.
• You may want to look elsewhere if the vendor you chose does not have the capabilities of delivering real time data visualization.

4. Marketing and Sales Outcomes Reporting

• The CRM will enable specific reports to be created based on sales, marketing and customer support activities.
• It has to offer a live snapshot of the business metrics.

5. And Marketing is Done!

• It is required from the vendor to use CRM for marketing campaigns which covers emails as well as social media.
• Focus on vendors who have experience in marketing automation.

6. Costing and Total Cost of Ownership (TCO)

• All expenses including the systems for the CRM, as well as the day to day running of the system, plus AMC, have to be included.
• For vendors that charge highly for their CRM services, consider other options.

7. Security of Revenue and Compliance

• The CRM must be able to deliver data and security privacy regulation.
• Companies working with delicate customer data should provide the highest level of security.

8. Automation of Office Processes

• The CRM must enhance internal work processes for operational efficiency.
• Base their hiring caution on the vendor’s skills for automation of internal processes.

9. Automated Selling Processes

• Sales activities must be automated by the good CRM system.
• It should capture the MQL to SQL transition and everything in between.

Reports and Business Intelligence (BI)

• The insights should be generated and empowered from sales, finance, HR, and marketing data.
• Businesses should also be able to report and render capability to make decisions proactively.

11. Mobile Support

• The CRM should also provide mobile access into system.
• Customer records should be updated, tracked and created while on the move.

12. Customer Interaction Tracking

• All interactions including emails, calls, postings on social media and live chats should be captured under the CRM.
• Do not partner with vendor who do not support omnichannel tracking.

13. Technical Support Requirements

• A CRM would work best if it is simple and straight forward and does not hinder with excessive technical support.
• Seek vendors that do not put a burden on businesses to provide an IT support structure.

14. Customization Capability

• Some companies need the actual building of CRM to be possible to have it under joint development or covering design.
• Ask the vendor whether it is possible to provide you with a custom CRM solution.

15. Vendor’s Customer Base

• Look at how much people use the vendor’s CRM .
• Check if they have previously worked with companies within your region.

16. Cloud-Based Technology

• There should be no restriction of usage so a good CRM should be cloud based.
• Check to see if the vendor utilizes cloud so that the technology is scalable.

17. Post-Implementation AMC (Annual Maintenance Contract)

• Make sure the vendor can provide support and system updates in the future.
• Make sure to get the AMC agreement in writing before signing the contract.

18. Implementation Timeline

• Make sure CRM implementation is done within your budgeted timeframe.
• Stay away from vendors who do not set clear implementation milestones.

19. Dedicated Account Manager

• A reputable vendor allocates a specialized manager who will handle your company’s specific needs or concerns.
• Check if the vendor has dedicated customer service* for your company.

Bonus Point: Training Hours for Employees

• The vendor should conduct training sessions in advance of the rollout of the new system.
• Avoid vendors who do not include appropriate refresher training and solely provide one time training.

Step 3: Shortlist Vendors and Finalize Your Choice

• Go through vendor answers and analyze using the 19 point checklist.
• Assess different CRM vendors before reaching your conclusion.
• Select a vendor who fulfills at least 17 requirements from the criteria.

Thus, you can be guaranteed to adopt the most suitable vendor to roll out CRM within your company.

Key Takeaways

• Recognize your problems first in ascertaining the appropriate CRM vendor.
• Check vendors’ specifics and details using the checklist provided.
• Look for a vendor who can provide automation, reporting capabilities, security, and mobile access.
• Ask for post-implementation support and AMC when signing for the contract.

Adopting the right CRM tool can revolutionize your business, boost sales, improve customer support, and streamline marketing processes. So make your decision very carefully.

Categories: Customer Relationship Management