When To Invest In A CRM

We have already explained what CRMs are and why businesses should invest in CRM platforms. However, if every business should invest in a CRM, the following question naturally arises:

When?

When is the right time for a company to invest in a CRM?

While many will argue that the best time to invest in a CRM is as soon as possible, it’s actually very hard to provide a precise answer to this question. This is because each business has a certain number of specific characteristics that make it uniquely suitable or unsuitable for a CRM.

Additionally, each CRM platform is primarily designed for a certain type of companies, even though many of them are general solutions that are highly adaptable to all types of businesses.

Now, let’s break this issue down and explain when you should (not) invest in a CRM for your organization.

What you should know before investing in a CRM

It’s true that CRMs can be highly flexible and scalable, but you should understand that they’re not for everyone. Your company may not benefit from what a CRM offers. This is especially true for companies that do not utilize the latest technology within their organization.

If your business relies on offline processes and contacts, you need to carefully assess what a CRM would bring. There’s no doubt that going online and relying on cloud technology is far more efficient than saving your valuable information in offline form.

However, if your clients do not practice using technology, it may not make sense to invest in a highly advanced technological solution. For example, if your business relies on the oldest population, you should consider if a CRM is really a justified investment.

Naturally, a CRM will undoubtedly help in the long term, but it might not be the right time for you to invest in it yet. Especially if your business could use an upgrade in other departments.

It’s important not to forget that your employees will require heavy training and support during the initial CRM setup. This means you may need to operate with limited resources for a certain period before the new system is fully integrated within your business structure.

In other words, you may need to sacrifice your short-term profits during the implementation phase of your preferred CRM system.

Most companies are easily scared off when they see decreased revenues in the initial weeks and quickly revert back to their tried and tested methods. However, that’s a near-sighted approach that does not help anyone.

Generally speaking, CRMs are designed for companies that want to create a sustainable, long-term business. If you’re too focused on the short term or if your business still hasn’t kicked off and can’t afford to pass through a period of adjustment, you may want to delay your decision to implement a CRM.

Why you should invest in a CRM

In case you’re still not sure whether or not you even need a CRM, we invite you to check out our article on why modern businesses need CRM platforms.

For absolute beginners, we’ve also created a comprehensive guide to CRMs, their features and functions. You can check that blog post here if you need a detailed explanation on what CRMs are.

What you should do before investing in a CRM

Luckily for small business owners, you do not have to do much before you invest in a CRM. However, you will still have to do in-depth market research and try out different solutions.

Most CRMs offer a free trial, which can certainly help, but you don’t want to sign up for any trial until you’ve properly researched the best CRM systems for your specific niche.

We advise you to write down notes about what CRM features your business needs. Create a shortlist of three systems that you would like to try out.

Then, take your time to evaluate each CRM and calculate the benefits that it can potentially bring to your organization. Find the optimal solution and sign up for a free trial. If necessary, don’t hesitate to schedule a consultation with an expert who can assess your business.

Most CRM users eventually end up buying the first CRM that they test through a free trial, which means it’s essential that you assess your options carefully before you begin using any complex system.

If you later decide to switch between CRMs, you will need to spend additional resources to set everything up.

Don’t rush your decision.

Conclusion

Ultimately, it’s up to you to decide whether or not it’s the right time for you to invest in a CRM. However, if you’re experiencing regular problems due to data unavailability or work inefficiency, you may want to consider your options as soon as possible.

Small business owners sometimes confuse careful planning and thinking with procrastination, due to their reluctance to spend their hard-earned money. This is understandable, but you may unconsciously be hurting your business by refusing to make a decision.

If your company could truly benefit from a CRM, you’re essentially losing revenue every day you’re not utilizing the benefits of CRMs.

Think it through, keep your options open and make a reasoned decision.

In case you’re still unsure, contact us for a free consultation and our analysts will assess your business to help you make the best decision for your company.