How Much Does It Cost to Build a CRM?

Customer Relationship Management systems are software that aims to increase the effectiveness of business operations at different levels. When we are thinking of a CRM, software like SAP and Salesforce comes to mind. They help businesses to personalize their product and service offerings.

Actually, not all organizations may need these kind of services that a CRM software offers. Every business is unique, and there might be not a solution that perfectly fits its operations. Well, nothing stops you from creating your own custom Customer Relationship Management system. But how much will development of such CRM cost? What functionality should it include? What are the benefits of building a CRM? In this article, we will talk about CRM systems, what they do, and how much does it cost.

 

Types of CRM Solutions

In fact, all types of CRM software are interconnected as they all consist of multiple modules to achieve specific goals for each operation. There are four basic types of them:

  • Collaborative CRM. These systems allow synchronizing communication with clients across all channels such as social platforms, websites, emails, and phone calls
  • Strategic CRM software gathers client data in a database, helping support long-term client relationships
  • Analytical CRM system analyzes client data provided by operational CRM system to predict client behavior
  • Operational CRM systems are focused on meeting short-term goals, service automation, sales, and marketing

Features of CRM systems

You may ask yourself why do I need a CRM for my business? In order to answer this question, let’s examine some of the features of a CRM system to give you an insight into how it works. As we mentioned above, CRM systems are focused on improving the operational efficiency of client support, marketing, and sales departments. Theн allows implementing functionalities for each of them. Let’s list them in detail:

1) CRM systems for client support

They help agents handle communications with customers. All chats via social platforms, phone calls, emails, and tickets will be saved in the database.

  • Service Analytics. This system records issues and their resolving collects statistics about client requests from all channels
  • The Database. It allows making a client support tool as convenient as possible
  • Help Desk. This functionality gives the ability to create a user-friendly interface for support agents to view requests from clients via all channels as well as to assign or prioritize tickets

2) CRM systems for marketing

These solutions can help businesses in planning marketing events to reach out to customers. Generally speaking, they help marketing experts in implementing event-based marketing strategies. In order to understand what is CRM for marketing, imagine a calendar that helps you manage and track your marketing events.

  • Marketing Analytics. These systems make it possible to view the statistics of marketing campaigns
  • Client Segmentation. This type of CRM software allows determining the most profitable groups of clients by segmenting them.
  • Campaign Management Systems. They provide the ability to create and manage multi-event campaigns, attach materials, spreadsheets, and invoices

3) CRM systems for sales

Sales automation allows increasing the effectiveness of your sales team’s work by helping in closing deals with existing and new customers.

  • Forecasting & Planning. This software provides the ability to create sales plans based on inserted data as well as to view sales history
  • Sales Analytics. This module allows creating configurable tables and diagrams to determine sales trends
  • Lead and Account Management. This system allows managing client profiles, adding client details, new leads, and converting them into opportunities.

How Much Does It Cost to Develop a CRM?

The cost of CRM development depends largely on what is required. The price is calculated based on many factors such as web agency’s rates, cost of deployment/support, the complexity of the project, number of features.etc.

The average development time for a CRM:

Client support systems:

  • Service Analytics – 260-540 hours
  • The Database – 120-180 hours
  • Help Desk – 540-900 hours

CRM systems for marketing:

  • Marketing Analytics – 260-540 hours
  • Client Segmentation – 180-260 hours
  • Campaign Management Systems – 180-260 hours

CRM systems for sales

  • Lead and Account Management – 1080-1440 hours
  • Sales Analytics – 180-260 hours
  • Forecasting & Planning – 180-260 hours

Given the data we have provided, the approximate cost of a CRM system ranges between $100k to 150k. Any extra functionality will require additional expenses. If you want to get a precise estimation of your project, or if you have any questions regarding Customer Relationship Management development, please contact us. Good luck!