Why Crisis Is the Best Time for CRM Development

While 75% of business owners agree that customers are essential to increased profits, only 35% of companies have adopted customer relationship management systems. However counterintuitive investing in CRM during the crisis might seem, now is the perfect time to embrace the software and make most of its benefits. Sony, JetBlue, and Netflix are prime examples of companies that went through the crises without using customer relationship management tools and suffered for it. Today I’ll share the most prominent benefit and risk when adopting a CRM system during the crisis and explain the choice you will face.

The Benefit

With a laundry list of CRM systems available for businesses of all sizes, it can be challenging to tell the difference and understand what any of them can do for your business. Regardless of the software you ultimately choose, improved customer experience and relationship are the main benefits achieved through several tactics.

• You can reach out to regular clients and keep them updated with corporate news, promotions, and loyalty programs.
• You can segment the customer base and tailor your message based on the client’s past preferences, favorite communication channel, wish lists, and more.
• You can explain any unexpected changes, such as increased rates, through personalized communication that is more likely to keep the clients from leaving for greener pastures.

No business can afford to ignore these advantages of CRM programs. However, before you jump into the custom business software abyss, consider one of the biggest risks you might encounter.

The Risk

GDPR came into effect in 2018 and made businesses treat customer data with more care and attention. As a result, most websites and applications had to reinvent Terms of Use, Privacy Policy, and other legal paperwork. For months, Inboxes was filled with update notices from every online store, streaming service, and social media platform.

While the changes are invisible at first glance, GDPR affected CRM software dramatically. Businesses that want to avoid million-euro fines have to be careful about the data they collect, its processing, storage, and sharing with third parties. Security breaches must be reported immediately, and companies may be held liable for leaking personally identifiable information.

All this doesn’t mean that marketing and sales CRM software is dead or useless. However, GDPR compliance means you need to be careful when selecting business software providers or hiring CRM developers for your custom solution. The team you work with must be aware of the latest regulations and requirements; otherwise, your company might face substantial fines, lawsuits, or bankruptcy. Boston Unisoft Technologies is one example of an IT vendor with years of software engineering experience and long-lasting tradition of staying on top of the local and international regulations.

The Choice

With multiple types of CRM and dozens of ready-made solutions on the market, purchasing a license and setting up an out-of-the-box system seems like a natural choice. However, building a custom CRM comes with significant advantages, and choosing between a system tailored to your business needs, and a standard solution should not be taken lightly. I suggest you consider these factors before committing to a decision:

• CRM features. Depending on your business needs, a simple CRM might be everything you need, but most ready-made solutions come with dozens of features. If you are not going to use them, why pay for the license? Building a CRM from scratch to suit your needs means you decide which features are implemented and when to add new functionality.
• Learning curve. You might go for an all-in-one CRM in an attempt to make most of its benefits, but these systems require extensive training. Even with documentation and user guides readily available, this will add weeks or months to your customer management system adoption timeline. Custom CRM software can come with built-in training routines to help your team start using it as soon as possible.
• CRM budget. Ready-made CRM platforms range in price from extremely affordable to astronomically expensive. You have to compromise to strike the right balance between the feature set and expenses. With custom CRM business software development, you are the decision-maker and get to choose the right combination of features to fit your budget.

When you are ready to integrate a customer relationship management system into your daily operations, reach out to Boston Unisoft Technologies. Our team possesses years of experience creating sophisticated solutions across the most competitive industries, including Retail, Marketing, and Finance. Give our business analysts a call, and they will advise you on the best custom CRM options.