Welcome to the overwhelming world of the Customer Relationship Management (CRM) software marketplace!
With such a vast array of software choices and software companies pestering you to buy their product, it is easy to see why businesses so often waste time and money on the wrong software.
So, how do you navigate your way through the chaos that is the CRM Marketplace? How do you discover which software product is the appropriate choice for your business? To begin with you need to understand:
- why you need the software in the first place
- whether your people can use the product
- whether you have the right people to make the product work for you
- your data capture requirements
- the capacity of the software to work with your current business model
- a prioritised list of requirements for the features and functionality of the software
- the knowledge that one software product cannot do everything
The CRM Marketplace headache
After visiting countless CRM software websites, downloading the relevant information and handing out my details ‘it’ started!! My inbox was bombarded by countless sales and marketing emails. Whilst the phone line was running hot with the hard sell sales tactics of software companies looking to sell their product!
The CRM Marketplace is chock-a-block full of buzz words, jargon, marketing and sales tactics all designed to make products attractive to you. But, don’t fall for the hype or the pushy sales techniques. Better options are available to help you make the right decision on CRM software for your business.
Some of the key trends in the CRM marketplace are:
- Global CRM spending hit $48.2 billion in 2018
- SaaS (Software as a Service) solutions are forecasted to account for 75% of CRM spending in 2019
- The CRM market is projected to be worth more than $80 million by 2025
- The top 5 CRM vendors represent over 40% of the CRM Marketplace
Competition in the CRM Marketplace
Salesforce holds the biggest share of the CRM Marketplace at 19.5% followed by SAP (8.3%), Oracle (5.5%), Adobe (5.1%) and Microsoft (2.7%). These key players or market dominators have greater access to the resources required to market and sell their products to you. However, their market share, advertising and sales capacity are not a guarantee that theirs is the right product for your business.
Noticeably, the CRM Marketplace giants usually offer a one size fits all product. In choosing such a product you will always be limited and controlled by the software company and their decisions about what is best for your business. Such products will either: do everything poorly, or will require a team of suitably qualified staff to make the software work for you.
The alternative to a one size fits all product, is a smaller or more niche product. A product that may not be as flexible but that has a lower requirement for expert customisation. A product that has the capacity to be easily tailored to align with your individual business needs.
So, how do you decide which option is the right choice for your business?
Business Analysis is the key
This is where a Business Analyst can become your new best friend! A business analyst can partner with your business to:
- Identify your specific needs for functions and features of software
- Evaluate and assess the best software for your budget
- Negotiate trade-offs and work arounds in software choices
- Assist with transition from current to recommended software
- Communicate and manage software vendors
A business analyst saves you the hassle of negotiating the risks and hazards of the CRM Marketplace. They can deliver a customised CRM software solution that is the best match available to your business processes.
Find out how we can help you choose the best client relationship management software from the overwhelming world of the CRM Marketplace?