Year: 2024

How To Enhance Your CRM Value?

Making informed sales and marketing decisions has to be a crucial aspect of a business success, regardless of your industry, product, or service. When you have all the tracking details about your potential and current customers, that is the only way you can make intensively informed and highly effective decisions. The irony is, that this data is typically not easily available as it has to be collected from different places such as emails, spreadsheets, and databases. This makes it challenging to gain a comprehensive view of a customer’s journey and manage interactions effectively.

So, what’s the solution? Most businesses have found their solution in Customer Relationship Management or CRM software. A CRM solution provides a much more comprehensive solution where data is concerned. However, if you cannot measure the return value of your CRM and are not aware of the ways you can increase the ROI from it, then your business might be losing some revenue.

In this article, we are going to discuss how you can measure your CRM revenue and how certain steps can lead you to ultimate CRM success. So, here we go.

How Much Can a CRM Boost Revenue?

A CRM helps aggregate and connect customer data, enhancing internal team collaboration and ultimately improving the customer experience. To ensure you get the most value from your CRM investment and fully leverage its capabilities, here are some tips for optimizing your CRM usage, regardless of the provider.

The strategic implementation of a customer relationship management (CRM) system provides SMEs with a structured, transformative solution to their challenges. When deployed effectively, a CRM enhances lead management, automates workflows, boosts marketing efficiency, promotes sales transparency, and ultimately improves overall sales performance. This allows sales teams to focus more on selling and less on administrative tasks.

What is the ROI of CRM and How to Iterate It?

CRM ROI is a metric that assesses the financial performance and effectiveness of a CRM system compared to the costs invested. In essence, CRM ROI reveals the overall impact of the CRM on your business. In short, CRM ROI (Return on Investment) measures the profitability of a CRM investment.

It’s calculated by comparing the revenue generated by the CRM to its cost. A positive ROI, ideally greater than 100%, indicates a profitable investment. However, the specific ROI calculation depends on the revenue and cost figures included. To estimate potential revenue, you’ll need to consider relevant metrics and factors that the CRM will impact.

The formula to calculate CRM ROI is:

CRM ROI = (Net Gain – Cost of CRM Investment/Cost of CRM Investment)×100

Now, there are 2 major parameters you would be coming across for this formula.
Here are they:

• Net Gain – This variable is simply the benefits you get by using CRM software. It depends on certain factors such as happy customers, improved efficiency, and increased sales.

• Cost of Investment – It concerns the total investment made on the software including the expense of the software, hardware, implementation, and training resources. There are 2 types of costs involved here – direct costs and indirect costs. Consultant fees, software licenses, and hardware purchases come with direct costs, whereas indirect costs involve data migration costs, training expenses, and ongoing maintenance.

• CRM ROI – Finally, your ROI will tell you the results of your CRM implementation. If it is a positive ROI, then your CRM is working fine with your business. And, if it is negative then you need to rethink about your entire CRM ecosystem.

How to Boost Your Returns on CRM Investment?

Effective CRM implementation is a crucial factor in maximizing your ROI for CRM. The idea for such software is very simple – the more you use it, the greater are your returns, while lesser usage of the same software will lead to diminished ROIs. Even if you go for a CRM for lead management that is expensive but has no proper utilization, you may encounter less or sometimes even negative returns. It also depends on your sales and marketing teams on how they are using the solution.

Some sales professionals are still going with spreadsheets over CRMs, which only leads to a negative ROI. Further, it also produces scattered data and low collaborations. This prevents your business from attaining its full potential. The goal isn’t just getting your sales reps to use the CRM—it’s about ensuring every employee uses it practically and effectively to unlock its true value.

Some tips and tricks that will help you maximize your returns from CRM investments, and they are:

1. Involve Your Team in Decision-Making

To ensure your customer service, marketing, and sales teams use the customer management tool effectively and maximize ROI, it’s essential to involve them in key decisions. Without their input, you won’t get their full commitment.
Encourage open dialogue about their genuine thoughts and concerns. While not everyone needs to agree or be completely satisfied with the decision, it’s crucial they have the opportunity to voice their opinions and feel heard.

2. Select the Right CRM and Onboard Your Team Effectively

There have to be some inevitable challenges that your business may encounter with the transition of the new system. There are certain rules if followed can help you face the challenges and maximize your CRM returns. Here are they:

A tailored training plan specific to your business and team,
• A kick-off call to start with,
• Multiple training sessions are scheduled within the first few days of CRM implementation,
• One-on-one training with an Onboarding Manager,
• Assistance with data analysis and import, and
• Three custom automation/task templates tailored to your needs.

3. Incentivize Engagement and Set Clear Expectations

Your CRM is the fundamental point of every interaction with your customers. So, to fully maximize your returns, you need to ensure that the software is consistently and meticulously used.

Achieving this requires implementing both incentives and consequences.
Offer meaningful incentives to your sales representatives, such as bonuses, gift cards, certificates, or recognition. Conversely, consider implementing consequences, like reduced or zero commissions, for your sales team members who do not consistently use the CRM in their day-to-day work.

Conclusion

CRM software is a highly robust tool that has the ability to elevate your business by streamlining the sales pipeline and boosting revenue growth. With proper implementation, achieving a positive ROI is entirely feasible. With all-in-one CRM ConvergeHub, you may not need to worry about its successful implementation or the returns of the investment.

Implementing a CRM System Successfully

While CRM can be the best solution for your business, implementing one might not be easy for every businesses. The reason may vary, from the size of the business to the services or products you are catering to. Implementing a CRM successfully can be one of the most challenging tasks for modern businesses. It’s not easy to find and deploy a CRM software that delivers the right information to the right people at the right time. Many organizations face significant hurdles during the process, often due to insufficient planning at the beginning.

The challenges may be many, but the good news is that there are some proven strategies that can ease up the process. Two critical factors in overcoming these challenges are effective change management and access to accurate, centralized company data. Change management ensures that employees are well-prepared for the new CRM system, reducing resistance and easing the transition. On the other hand, access to accurate data is essential for ensuring the CRM system is reliable and provides actionable insights. For this particular reason, tools like a company data API enable businesses to integrate up-to-date, detailed company profiles directly into their CRM system. This ensures that customer information is accurate, reliable, and actionable, helping teams improve decision-making and customer engagement. So, let us learn about the strategic approach that will lead to successful CRM implementation. But before that let us have a brief idea of how CRM implementation works.

How Does the CRM Implementation Process Work?

There can be two ways of deploying the best CRM system for small business – either by integrating it with your existing system or from the ground up. The CRM implementation process involves deploying a CRM solution to streamline customer communication. If the implementation is successful, it means that it has created a centralized management system where customer information can be easily accessed. Since this software makes interacting with the customers very easy, it overall improves the efficiency of your concerned teams.

In simple terms, CRM implementation is the process of setting up and using a CRM system to manage customer interactions. Implementing a CRM means that you are making it a part of your business workflows, so as to streamline customer management through a unified platform. The process that goes into a CRM implementation mostly involves planning, configuration, data migration, and user training. You can successfully implement the customer management software only after careful consideration and execution.

7 Steps for a Successful CRM Implementation

We can divide the implementation process into 3 phases – before implementation, while in execution, after completion. While executing and post-implementation follow-ups may seem the only important parts of the job, the planning before that is equally responsible for the successful execution and may even take up more steps before the actual job. Here are the simplified steps that will help you to understand the processes that are required in this process.

1. Identify CRM Requirements and Define Objectives

The first critical step in CRM implementation is to assess the organization’s needs and clearly define goals and objectives to ensure a smooth process. According to a report by CIO magazine, approximately one-third (33%) of all CRM projects fail.

Investing more time in selecting the right CRM solution can save a company significant resources. It’s also vital to gather input from various departments to establish a comprehensive list of requirements, helping to set clear objectives for the implementation. Before proceeding, consider the following:
• How long will CRM implementation take?
• What resources are required?
• Will it enhance productivity and increase ROI?

2. Select the Right CRM Solution

The next crucial step is selecting a CRM that aligns with your enterprise’s specific needs. CRM solutions often come with a wide range of features, so it’s essential to define your goals clearly to determine which functionalities are necessary.

Carefully compare the features, support, and services provided by different vendors. Additionally, ensure the CRM solution can seamlessly integrate with other departments within your organization.

For instance, the Sales team should easily share reports and collaborate with other teams. Thorough research is key before purchasing a CRM solution!

3. Assemble an Implementation Team

After selecting the customer management system and setting clear goals, the next step is to assemble your CRM implementation team. This team will play a crucial role in every phase of the implementation process. Key members should include:
• Project Manager
• Sales Team Lead
• Marketing Manager
• IT Manager
• Representatives from other critical departments

Once the team is established, they should be actively engaged in each step and consistently updated on the implementation plan.

4. Develop a Change Management Strategy

After assembling the team, the next priority is developing a comprehensive Change Management Plan (CMP). Employees may resist the new system for various reasons, so a well-designed CMP is crucial for engaging them and ensuring a smooth transition.

An effective CMP helps employees gradually adapt to changes without disruptions. Before implementing the CRM, the team should use the CMP to assess employee feedback, evaluate their training needs, and address potential technical challenges. This ensures a smoother adoption process across the organization.

5. Budget for CRM Implementation

Planning a budget for CRM implementation is essential to manage costs effectively and avoid overspending. Before finalizing the budget, account for every possible expense, ensuring all costs are anticipated prior to the go-live phase.

Additionally, set aside a 10% buffer to handle unforeseen expenses and ensure a smooth implementation. Conduct a cost-benefit analysis and have your report prepared before moving forward with the implementation process.

6. Prepare for Go-live

The CRM implementation phase involves four critical processes:

• Third-Party Integrations – For smooth CRM operation, it must integrate with other systems in your organization, ensuring all systems work together seamlessly.

• Data Migration – Transfer your existing customer and company data into the CRM system. This can be done manually or with data migration tools.

• User Training – Efficiently onboard and train users using proper training tools to ensure effective learning and a quicker return on investment.

• Testing – Once the CRM is set up, conduct multiple rounds of testing across all departments, including Sales, Customer Service, and Marketing, to ensure the system runs smoothly before going live.

• Go-Live – After testing, implement the CRM in phases, starting with one department. Collect feedback and performance reports, and work with the implementation team to fine-tune the system for optimal efficiency.

7. Conduct Ongoing Evaluation
After launching the CRM system within your organization, it’s crucial to monitor, measure, and track its progress. This allows companies to benchmark CRM performance over time and address any issues in key areas.

Continuous evaluation is necessary—this isn’t a one-time task. Ongoing assessment and record-keeping are essential for maintaining optimal CRM performance throughout its use.

Improving CRM Data Quality: A Beginner’s Guide

It goes without saying that high-quality data is the foundation of any successful business. But, does data accuracy make it reliable and high-quality in CRM solutions? Not necessarily! Data accuracy or more technically, data integrity is just one part of the entire picture when it comes to CRMs. High-quality data is not only about data accuracy for CRMs, it is also about the value it adds to customer conversions.

In simple language, if your data is not fetching you enough business, then it is definitely of poor quality and what use can it be to you? Having said that, we must point out that even the best enterprise CRM software can fail you if your data quality is low i.e. not contributing to sales conversions. So, how can you ensure high-quality data? Our latest article here will discuss the various aspects of CRM data quality starting. Let us start with a brief on CRM data.

What is CRM Data?

The term CRM data refers to the information collected, stored, and managed by a customer relationship management system. It is a record of all interactions between your company and its customers and prospects. This involves information such as purchase history, contact information, buying preferences, and other relevant data about the customer. CRM data is all about helping a business to better their customers and improve relationships with them finally driving sales.

In a nutshell, it includes:

• Contact information,
• Purchase history,
• Service records,
• Communication channels such as email, website, social media, telephone, and live chat, and
• Insights about customers.

What is CRM Data Quality?

Speaking in simple terms, CRM data quality is the parameter that is decided based on how valuable and effective your data is. Where sales is concerned data quality is the measurement of the extent to which the data is useful for increasing sales performance. CRM data quality is a critical element of a successful all in one CRM strategy. It is important for customer retention, boosting sales performance, and other business operations to run effectively. It primarily deals with 4 main aspects of data in general, and they are:

• Accuracy

Data accuracy is the first level of ensuring data quality. Accuracy means that the data is free from errors such as wrong contact information or a misspelled name. Make sure all your customer data is correct to the last word.

• Consistency

Your CRM data can be termed as consistent when it is uniform with no duplicate or incompatible data across all cross-functional departments working under the same CRM solution. Be certain that all your teams have access to the same sets of consistent data.

• Completeness

If your CRM has all the relevant data required to maintain the customer relationship without any information gap such as purchase history or demographics, then be assured of its completeness. Complete data is important where lead generation is concerned.

• Timeliness

Up-to-date data that reflects the latest changes in customer information is absolutely necessary to keep your business afloat. Make sure that the data gets timely updated and that your sales team is able to make valuable sales pitches.

What is Poor CRM Data and Causes of It?

Poor or low-quality data is referred to as information that lacks accuracy, is inconsistent, incomplete, or outdated along with irrelevancy. Data of such kind often leads to poor decision-making, inferior customer interactions, slowed-down operations, or inaccurate insights.

Data that includes duplicate entries, incorrect customer contact details, and outdated, or missing information is considered as low-quality data in a CRM environment. When your business is going for data-driven strategies or operations, addressing low-quality data is critical to ensure that your strategy is effective and reliable.

There can be various reasons for Poor/Bad CRM Data such as:

• Inaccurate Data

Wrong data entry into your CRM software leads to data inaccuracy. This may include wrong information, entry in a wrong field, or erroneous system formatting.

• Duplicate Data

When the same data has been recorded under different accounts, useless information is formed.

• Invalid Data

If the data is not updated according to the latest customer interactions, the CRM system will produce ineffective information for your business.

• Fraudulent Data

Sometimes there may be intentional entry of wrong data by the different sources to take your business down. These fraudulent data is mostly harmful information for a business.

• Inconsistent Data

When redundant data stays in your system for a long time, it may cause bigger inconsistencies.

• Incomplete Data

There can be also instances when the system may lack the complete information required to make it functional. Such data that does not serve the rightful purpose of the business is considered poor or low-quality data.

Why is CRM Data Quality Important?

Your overall business success is directly proportional to the quality of data your CRM system caters to. If the quality falls, there is a high possibility that your business may lose on some sales opportunities affecting its revenue growth. Here are a few reasons why confirming high data quality is important for your business.

    • Helps in accurate decision-making

    Your teams will be able to make accurate decisions only if the insights gained from the CRM system are reliable and that is possible when there is high-quality data.

    • Improved customer experience

    High-quality data helps you to make meaningful interactions with the customers enhancing customer experience in the process. This will help you in customer retention and foster loyalty for a long period.

    • Better team collaborations

    If your CRM data is consistent and accurate, it can improve collaboration between your sales and marketing teams. This will ensure more effective campaigns and higher conversion rates.

    • Boosted business productivity and thus ROI

    Quality data allows for more accurate targeting and segmentation, leading to more successful marketing efforts and higher returns on your CRM investments.

    • Compliance with data protection regulations

    High-quality data protects your business from legal risks and penalties by ensuring compliance with data protection regulations.

    Conclusion

    All said and done, effective data management is essential for maintaining high-quality data. However, it shouldn’t consume much of your resources. In a fast-paced world, businesses have to face increasing time constraints. Hence, it is essential to have the right tools that can free up your valuable business hours. This allows you to focus on high-impact, relationship-building activities that drive more deals to closure.

    Certain top-notch CRMs such as ConvergeHub help high-performing teams to be more productive in terms of sales generation by saving up their efforts on maintaining high-quality data.

    The Top CRM Software Solutions for Small Businesses in 2024

    Listen up, entrepreneurs! Do you know what’s gonna help your business grow in the coming years? The way you manage your customer relations. But, these days, enterprises are relying so much on enterprise CRM solutions because that’s what makes your customer relationship management easier and awesome. It helps you make more sales and gives customers a great experience. There are a bunch of different CRM options out there, but we’ve got your back. We made a guide with the best CRM software for small businesses. Check it out and find the perfect fit for you.

    Salesforce

    Score: 9.5/10

    When it comes to searching for a top-notch CRM provider, Salesforce should be on your radar! They’re a big name in the game and have an awesome essentials-level platform that’s perfect for small and growing businesses. But if you’re looking to take things to the next level and dive into all that CRM can do, Salesforce has a ton of specialized solutions for sales, marketing, and customer service teams that can help you do just that.

    Pipedrive

    Score: 8.2/10

    If you’re looking for a CRM that gives you a great visual sales pipeline and a 360-degree business view, Pipedrive is a great product. It makes it super easy to understand your opportunities, with perfect data visualizations. Plus, the drag-and-drop interface lets you quickly respond to important tasks. As a sales CRM, PipeDrive is customizable and lets you optimize your workflows and improve processes across your entire business. And with a powerful mobile app, you can stay connected with your team and customers even when you’re on the move.

    ConvergeHub

    Score: 9.5/10

    ConvergeHub is one of the most talked about enterprise CRM software in the US. Thanks to the affordability of the product alongside powerful functionalities. Designed for SMEs, this cloud-based all in one CRM software is effectively designed for streamlining sales, marketing, and customer service teams. With its user-friendly interface and customizable features, ConvergeHub makes it easy to manage customer data, automate sales and marketing processes, and improve team collaboration.

    The biggest advantage of ConvergeHub is the way it provides a unified 360-degree view of customer data. As a result, teams in every department are well aware of the customers and which stage they are in the sales funnel. The software also offers a range of advanced features, including lead scoring, email marketing, and social media integration, thus making it a great solution for SMEs looking for enterprise CRM without burning their pockets.

    The reporting and analytics capabilities are top-notch. It allows businesses to gain valuable insights into their sales and marketing performance. It also comes with a mobile app that ensures collaboration across teams on the go. That’s quite a help for accentuating productivity and efficiency. Overall, ConvergeHub is a top choice for businesses looking to streamline their sales, marketing, and customer service operations.

    Monday CRM

    Score : 8.5/10

    Monday Sales CRM is an all-in-one CRM software that’s great to manage complex sales processes. This power-packed CRM platform makes a great product for salespeople to stay organized. With Monday Sales CRM, you get an easy-to-use interface and unlimited boards to help you stay on top of everything. Plus, you can customize your dashboard. The top-notch data visualization tools help analyze customer data so that you gain a piece of in-depth knowledge about your customers. Whether you’re a small business or a large enterprise, Monday Sales CRM is designed to help you succeed and scale your workflow. So why wait? Try it out today!

    NetSuite CRM

    Score: 9.4/10

    Small and medium-sized online stores that want to keep their customers coming back need a CRM tool that can help them get a better grasp of their customers’ buying behaviors. Oracle’s NetSuite is a cloud-based ERP solution that comes with CRM features, making it ideal for business owners who aim to provide top-notch customer service. The CRM module lets companies maximize the value of each interaction with their clients, regardless of the touchpoint. NetSuite streamlines and automates your customer interactions across various teams, including marketing, sales, customer service, and tech support. This way, any employee can talk to any customer as if they’ve been in touch since the very beginning.

    Freshsales CRM

    Score: 9.4/10

    Freshsales CRM software provides an intuitive and flexible solution that includes tools to enhance communication and gain a deeper understanding of customers. The software features an AI assistant, Freddy, that analyzes sales data, activities, and engagement history to provide valuable insights into customer behavior. In addition, Freshworks offers a built-in VoIP phone service that includes local toll-free numbers in more than 90 countries and allows users to make calls from any device.

    HubSpot CRM

    Score: 9.5/10

    HubSpot’s new Operations Hub offers sales teams a comprehensive solution to improve performance and streamline data management. With thousands of integration capabilities, users can easily connect third-party tools to sync and clean customer data, while automating business processes to increase efficiency. By centralizing data from multiple software providers, sales teams can easily track sales funnel metrics, actionable insights, productivity, and performance across all sales activities. This powerful CRM solution provides businesses with a complete picture of their customers and helps them to make data-driven decisions. HubSpot Operations Hub is the perfect tool for businesses looking to optimize their sales process and improve overall performance.

    Zoho

    Score: 8.3/10

    Zoho CRM is an ideal choice for sales teams that work remotely or in different locations. It helps increase leads, accelerate sales, and measure performance accurately with ease. The CRM platform has an AI-powered assistant named Zia, which predicts leads and deals, identifies potential customers for conversion, and provides user-friendly guidance to large sales teams. Zoho also includes gamification features that encourage friendly competition, making it a popular choice for remote sales teams. With every lead, call, and deal, team members can earn trophies, creating a competitive and motivating sales environment no matter where they are located.

    The Final Takeaway

    Ideally, enterprise CRM solutions are designed to help businesses manage their customers. From helping sales teams to keep track of communication logs, manage leads, and even create marketing campaigns. While CRM solutions were initially intended for sales and PR professionals, they have since evolved to include a variety of features such as analytics, marketing, communication, and light project management. Some systems even have chatbot and calling capabilities that allow sales reps to communicate with clients directly from the CRM. With all these functionalities, CRM solutions have become essential tools for businesses looking to streamline their customer relationship management processes.

    CRM Integration With QuickBooks: Its Benefits

    Whether you’re a professional accountant or just a QuickBooks novice, integration of QuickBooks with CRM software solution can significantly enhance your business processes. According to recent statistics, businesses that integrate their CRM with QuickBooks experience a 30% increase in productivity and a 25% reduction in administrative costs. This article explains why you should consider this integration, the criteria for choosing the right CRM, and some of the types of integration available.

    What is meant by QuickBooks?

    QuickBooks is an accounting software which help small to medium-sized businesses manage the financial aspect of its organization. By using QuickBooks, businesses can generate and send invoices, accept payments, keep a track of income and expenses, manage inventory and payroll and generate accounting reports.

    QuickBooks has both a desktop and cloud-based version, termed as QuickBooks Online. With the use of QuickBooks Online, you may log in to any supported device from anywhere in the world.

    While QuickBooks help you keep a track of the financial aspects of your business, it can’t do everything. For example, while being a powerful accounting software, QuickBooks will not help you to manage and follow up on leads, track your billable time or forecast client profitability.

    That is why, you need to integrate your CRM with QuickBooks.

    What is meant by a CRM?

    Customer Relationship Management (CRM), is a process through a company or any other organization manages it relationship with customers, usually by analysis of vast amounts of data.

    Today’s business landscape is shifting from being company/product centric to customer centric. With a reliable CRM, you may deliver a consistent, streamlined and profitable client service easily and manage your tasks, issues and data all in one platform, in real-time.

    Without the integration of CRM with QuickBooks, your business will be sitting on an invaluable data which can help to increase your sales and drive revenue for your business. For example, if you have leads which has requested a quote but hasn’t taken any step further, you may send personalized emails to remind them of the solutions you provide, answer any objection raised and convert them to paying customers.

    Integrating your CRM with QuickBooks can act as the catalyst which will unlock better customer management, increase customer satisfaction and by extension, increase customer lifetime value.

    Can You use QuickBooks as a CRM?

    QuickBooks is not same as CRM but an accounting software. Sure, you may use it to send invoices, receive payments from consumers and view customer’s transaction history but this doesn’t build rapport with your clients.

    Rather, business should get a CRM and integrate it with QuickBooks because QuickBooks does not perform core CRM functions like sales management, marketing automation and customer service management.

    So, can you try to use QuickBooks as a CRM? Yes.

    Should You? No.

    What in integration of CRM with QuickBooks?

    CRM QuickBooks integration means linkage of this accounting software to your CRM so that you can get a single view of client work, invoice and payments. This data may then be used for follow-ups, to deliver personalized service for better marketing automation and for ultimate linkage of your time with invoices.

    Criteria to keep in mind while choosing a CRM for QuickBooks

    Below mentioned is some of the things you ought to consider before deciding on a CRM integration with QuickBooks. Everyone’s has different business needs, so don’t skip these questions.

    l What is your budget?
    l What data do you want to import?
    l Who will use your CRM?
    l Will you perform manual or sync-based integration?
    l What data is already in QuickBooks?
    l Do you need QuickBooks Online or the QuickBooks Desktop version?

    Why QuickBooks and CRM integration is a good idea

    Let’s talk about the different reasons to get a CRM which integrates with QuickBooks. 

    Lead Management

    If you are an accountant, QuickBooks alone cannot help you obtain new contacts and leads to them into paying customers. That is what a CRM is for, it can help with marketing, lead generation and then bringing in that data to create new QuickBooks accounts.

    Data Entry

    CRM is great to save your team members’ time and efforts by taking over a lot of manual typing and click work. This efficiency translates over into your QuickBooks activity by syncing everything once and in real time.

    Data Security

    As yous QuickBooks data is so important to your customers, having a CRM integration may add a layer of data protection should you ever need to share any more customer information.

    Sales Automation

    To ensure a prime customer experience all the way throughout the sales process, a CRM integration with QuickBooks is ideal. It may send automated follow ups to stay on point and use workflows to update the sales pipeline status.

    Customer Service

    If different needs of your accounting business include offering customer support, there are many perfect CRM software which specialize in customer service. It may automate tickets from QuickBooks, create them in your CRM and use workflows for faster resolutions.

    Types of integration of CRM with QuickBooks

    There are two major types of CRM integration with QuickBooks, which are manual and sync-based.

    l With a manual integration, you’ll need to click on each row of data yourself that you want to sync.

    l With a sync-based system, you run a program which reviews and syncs all data according to your parameters.

    However, with syncing, there are two categories of data flow: unidirectional data flow vs bidirectional data flow.

    Unidirectional Data Flow

    This is where data flows one way, from one platform to another. For example, when you update a contact profile in your QuickBooks account, it will get automatically updated in your CRM, but updates of CRM won’t affect QuickBooks.

    Bidirectional Data Flow

    As obvious, bidirectional data flow is a two way sync. Any changes or update you make in either your QuickBooks or CRM systems, will be automatically synced and updated in the other platform

    Conclusion on Choice of CRM software for QuickBooks which would go with your needs

    Now that you know about how important CRM is with QuickBooks, next step is to integrate. If you are still not sure on which CRM integration is most compatible with your business needs, visit the CRM website and often free trials are provided for which sometimes you don’t need to enter a credit card.

    5 Sales CRM Myths to Ignore in 2024

    CRM helps businesses streamline the sales process, improve interdepartmental collaboration, and maintain business relationships. Many startups have been integrating it into their marketing stack for its powerful features.

    However, there are certain myths that have mushroomed over the years about CRMs and their use. Such myths have hindered business owners from benefiting from such high-end business tools which led to many facing negative impacts on their growth.

    In this article, we will be discussing certain myths about CRM software that have been affecting CRM marketing for a long. But, before let us have a brief know-how on what a CRM solution actually does. So, let’s get going.

    CRM software performs the following activities

    • Collects customer data from multiple sources and applications and stores that in a centralized location.
    • Automates repetitive sales, marketing, and customer service processes.
    • Tracks prospective customers through their purchase journey.
    • Identifies up selling and cross-selling opportunities.
    • Promotes interdepartmental collaboration.

    With so many functions to offer, CRM should have been accepted in every field but unfortunately, there are certain myths associated with it which will be learnt in the following paper. Let’s take a look at the misconceptions that are popular in recent times.


    5 CRM Myths That Are Costing You Sales

    In this section, you will find 5 common myths that when entertained are going to cost you sales.

    CRM is Expensive

    Well, this was somewhat true when CRM tools were initially launched. Back in those days, licensing a single CRM software meant a huge expense, usually thousands of dollars. Apart from licensing, there was the piling expense for installation, setup, hardware, and training costs as the basic investment cost before you could actually use a CRM.

    This scenario changed with the entrance of cloud technology in the early 2000s. It helped save a lot in hardware and maintenance which is fundamentally the IT cost behind a business. The efficiency and cost-effectiveness of cloud storage solutions changed the entire game in the CRM software market. It made CRMs available to even small and medium businesses where the resource budget is low. In the current state, it literally takes $0 to use a CRM. You may find many offering a free version of CRMs that are perfect for certain types and sizes of businesses.

    Only large organizations require a CRM

    Earlier, only large organizations could afford a CRM solution because of the costs involved, as mentioned in the previous point. It gave birth to another misconception that a CRM is only ‘required’ by large organizations. But, as the scenario has changed to a more cost-effective one, the myth has almost diluted making way for startups, and small and medium-scale businesses.

    If you are still hesitating thinking about its cost and utility for your business, then let us put it like this – you want better communication with your clients and better sales, go for a CRM! Still not convinced? How about software that automates repetitive tasks and takes care of all your manual tasks enhancing your overall business productivity? Well, that is an enterprise CRM for you.

    CRM is Complex

    In the late 90’s when the concept of CRM was making its way through businesses, many found it difficult to comprehend. None to blame, early CRMs were not really in a structured form and thus lacked user-friendliness. Also, they needed extensive training for first-time users and in case of any technical issue had to rely on IT staff to get them fixed.

    However, as technological advancements happened and CRMs got better in terms of usability and clarity, the concept that CRMs are complex stands null and void. The user-friendliness, intuitive UI/UX, and browser compatibility of modern-day CRM solutions make them highly approachable and beneficial for the business.

    Not to mention some additive features some CRMs have, such as the on-boarding process of a customer in the initial stage of engagement.

    There is a Data Security Threat with CRMs

    This misconception goes around for cloud technology in general. With frequent news of data breaches and security compromised, many business owners are showing concern aboput adopting cloud technology. But, CRM users need not worry much as developers go to great lengths to secure CRM software. They have several security measures such as security certificates, firewalls, and data encryption that are high-tech and 100% trustworthy.

    Further, such safety measures help business owners with a deeper level of data protection by helping to decide on CRM vendors, employees’ training methods, and monitoring activities of CRM.

    CRM has little use other than storing data

    It was true in the yesteryears but no longer is. With every day the digital world going through numerous technological advancements, CRMs have developed to a great extent. Currently, we can call it a suite of features that encompasses almost every touchpoint with a customer. The sales and marketing operations are particularly benefited from it but the other teams existing in an organization can also make use of it to their advantage.

    With new enhancements and integrations happening every day, some CRMs have turned out to be excellent marketing automation systems. From email marketing, and landing page creation, to automation of ad campaigns, these CRMs perform various activities that make them full-service SaaS applications.

    Lesser Known Myth: CRM solution is not Customizable

    Certain businesses follow unique personalized consumer processes and do not want to engage with software that resorts to generic systems. CRM systems are in no way at par with generalization. They are highly customizable and efficient customer interaction management systems. They can also be termed as business process management software as they are highly flexible to support several integrations at a time.

    Though there are varying degrees of customization offered for different CRM solutions, a well-designed solution can offer any kind of customization fit for your business. They are capable of handling the overall business operations that go around an enterprise. Often, it has been seen that flexible CRM software engages minimum resources, allowing the company to save on costs.

    The Final Takeaway

    In a nutshell, these are just misconceptions and do not hold much value but can be highly misleading. If you want your customer relationships to be taken care of, then there can be no better alternative than CRM software. From efficient customer service, improved customer interactions, and streamlined sales pipeline, to data security, competent CRM solutions such as ConvergeHub is the right choice when it comes to overall business growth.