Twenty years ago saw a change with the initiation of special sales, incentives, bonuses, and perks as businesses attempted to reward loyalty.
The Cost of CRM, Part 1b
Twenty years ago saw a change with the initiation of special sales, incentives, bonuses, and perks as businesses attempted to reward loyalty. CRM Software made this possible by setting up categories based on sex, age, income, education level, family status, and location as a way to sort customers and their purchasing habits. Organizing buyers in such a way facilitated more select marketing, and thus a more efficient use of company resources. Needless to say, as CRM software evolved into more functional and informative software, CRM implementation grew at an impressive rate and CRM Cost went up. This left businesses to figure out whether the benefits of CRM equaled the expense of the technology.
When comparing CRM costs, prices, and features, the first thing a company should do is consider the exact results it expects from its customer relationship management software. Then it will be time to begin the process of researching how much a Customer Relationship Manager system will cost.
CRM projects can be broken down into three main areas of costs: 1) the price of software licenses and software maintenance. A license can cost in the range of two-hundred dollars to a six zeroes investment. The range depends on the number of users involved, the size of the company, and –of course- on which application is being bought.
The second main area of cost is the price of professional services which are needed to get the CRM system installed and operating.