Committing to a new CRM software is a big decision. It is one that will likely take your company to a new level of efficiency, organization, and revenue. If you are shopping around for a CRM you are probably researching which one is the best fit for your business. One major factor that will play into your decision will undoubtedly be cost.
Let's take a closer look at important budget line items when planning your CRM implementation!
The Cost of Your CRM
The cost of a CRM will vary greatly depending on your size, and business goals, but you can get a sense of how much it should cost on a yearly basis. It’s good to note that the first year will look different than the following years because you need to account for the implementation.
So, how much does an implementation cost and how do different CRMs compare?
Aptitude 8 recently did a study looking at the two leading CRMs: Hubspot and Salesforce. They focused on two main factors: how many internal employees do organizations use to implement their CRM (internal cost), and what do costs associated with external service providers look like (external cost)?
So, what do we know?
When it comes to internal and external resources needed to implement new software, not all CRMs are created equal and implementation costs are sometimes referred to as hidden costs!
According to the Total Cost of Ownership, HubSpot vs. Salesforce research, it was found that implementing HubSpot requires fewer internal resources. A 62% majority of HubSpot users report that 3 or fewer internal employees were dedicated to implementing their CRM, compared to 52% of Salesforce users.
Having fewer internal resource hours being used for something that has not been deployed and is not yet bringing in revenue is a huge cost saving.
We also found that HubSpot users reported being more satisfied with the external vendors they worked with to implement their solutions. According to our research, the cost of external vendors/resources that were required to implement HubSpot and Salesforce are similar.
Still, we found that HubSpot users report greater satisfaction with the vendors that they used during implementation. Nearly half (47%) of HubSpot users report being extremely satisfied with the service providers or contractors they worked with to implement their CRM solution, compared to just one-third (32%) of Salesforce users.
We compiled a list of questions you can ask yourself to go through before committing to an external vendor. Ask yourself the following questions when considering who to work with:
- Does your company have the right CRM tools to use to implement?
- What reviews does that vendor have?
- How long has the vendor been in practice?
- How does the pricing work for the vendor and what is included?
- Is the vendor flexible enough to customize what the customer needs?
- Will your company outgrow the vendor?
You can also check out our extensive HubSpot Partner Evaluation Asset Here. The questions you'll find here will take a holistic approach to evaluating a partner - looking at components outside of cost.
In summary, each company is unique and will require different, or at least slightly different resources to successfully implement a new CRM. Take the lessons we learned through our research and expertise to make an informed decision.
Interested in learning more?
Our team of experienced consultants have certifications in both HubSpot and Salesforce, as well as the expertise to help you navigate deciding which CRM is best for you. If you're interested in learning more, contact us at Aptitude 8 - we'd love to help!