Mark Twain's blog : SaaS CRM Market and Its Roles in Increasing Sales
Software as a Service (Saas) Market is increasingly relevant in today’s digital sphere. SaaS can transform business efficiency by streamlining operations, improve customer experiences, and reduce costs.
A SaaS CRM is an online cloud-based platform which helps business to track leads, boost sales, manage customer integrations, and other functions that can help business operation to stay organized.
There are differences between a SaaS CRM and in-house CRM. In-house CRM offers higher data security compared to SaaS due to on-site data storage instead of the cloud. In-house CRM also offers more control in terms of development, features, and design based on the customer needs. However, SaaS CRM offers lower costs, practicality, and flexibility.
Several examples of SaaS CRM are Zoho CRM, Pipedrive, HubSpot CRM, Salesforce, Nutshell CRM, Monday.com, among others.
This market has increasingly gained popularity and is used by many companies, where CRM SaaS market size is estimated to grow at a higher CAGR during 2020 to 2027 period, according to a research firm GMI Research. The firm also mentioned that by end-user, the SaaS CRM market share is held by retail, BFSI, manufacturing, Telecom & IT, healthcare, and others.
The Benefits of Using SaaS CRM
There are numerous benefits that companies can get by using SaaS CRM, from creating seamless sales processes to reach company’s targets.
- Provide excellent customer experience
By using SaaS, companies can upgrade customer support and provide excellent customer experience, from pre-purchase to post-sale. The cloud-based software can help with resolving customer’s issues and provide proactive customer assistance. This excellent customer service hence can build client relationships and maintain better customer retention.
- Streamline business operations and create seamless sales process
The system in CRM provides features that help to streamline business operation. For example, a company can set up automated email, set up actions based on interactions with the customers, or even assign tasks to team members.
- Reach company targets and grow revenue
With the smooth sales process, the company can also reach targets and grow revenue by gaining high-quality leads, contacting key prospects on time. The software also speeds up daily processes for the sales team. The increased customer satisfaction and loyalty will lead to an increase in sales and revenue.
- Provide detailed analytics
SaaS CRM can also provide detailed analytics by assimilating data from various sources, such as email campaigns, social media, lead sources, website traffics, among others. By receiving valuable insights, businesses can have a better understanding about their marketing landscape and make an informed decision.
- Increased team’s productivity
Manual work can take a lot of time. By using a SaaS CRM, workflow management can be improved where the whole team members can have real-time access to important documents. It also offers automation features that accelerate the transactional work and eliminate errors. Therefore, the team member can take the necessary action and can be relieved from tasks that can take up so much time like manual data entry or admin tasks.
With the rising demand and helped by technological advancement, SaaS CRM market will keep seeing a positive trend. However, the rising security data concern can further hinder the growth of this market.
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