Introduction to Software-as-a-Service (SaaS)
Hey! Are you curious to explore the SaaS CRM software? Do you want to have an in-depth explanation about SaaS companies to be able to invest in CRM software? Let us go ahead and explore the necessary set of details inside this article and build our knowledge base.
Software-as-a-Service (SaaS) is a software distribution model permitting the customers to access the software over the internet by third-party providers.
The model turns out as a needful departure from the on-premise software delivery system. To constitute an application, the software vendors host and maintain the servers, and databases.
The companies never need investment in purchasing the expensive hardware for hosting the software. The SaaS vendors take care of all such issues, finally benefiting the customers.
SaaS falls under the umbrella of the vital categories of cloud computing along with Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS). It appears synonymous with the on-demand software or hosted software. The accessing methodologies are fast exhibiting the authentic usage.
Owing to the flexibility of the service, the applications on the SaaS CRM get available via the cloud. SaaS CRM software now becomes easy to put in place for all kinds of businesses. It further provides the best set of features for the same.
Different SaaS CRM providers with individual metrics are there having different sets of specifications catering to the customer’s requirements for smoother business flow. The service providers using the importance of SaaS hosts the software at their data centers thus putting their customers’ concerns to rest.
They further allow the customers to access the same via different internet browsers. The SaaS applications are frequently used by a diverse range of IT professionals and business users.
It acts as one of the fundamental resources for business technologies. These include financial management, sales management, customer relationship management (CRM), and human resource management. There exist several other businesses using the conveniences of the technology.
The global leaders of SaaS CRM software providers that are the most popular are Microsoft, SalesForce, Oracle, SAP, Hubspot, and several others. These customer-targeted businesses for software available via the internet make it easy both for the vendors, as well as the customers.
Top 10 Reasons Why SaaS Companies Invest in CRM Software
- 1. Automated data entry functionalityg
- 2. Efficient management of vital data
- 3. Automating repetitive processes with CRM software
- 4. No more requirement of separate calling platforms
- 5. Report creation capability to experience versatile sales insights
- 6. Appropriate management and tight control of the sales process
- 7. Efficiency in appropriate centralized data management
- 8. Responsive functionality with Mobile CRM feature
- 9. Exceptional output in terms of lead to customer conversion ratio
- 10. Customer segmentation
The following points explain the top 10 reasons encouraging every business owner to put in place the SaaS CRM software solution for strengthening their business prospects:
1. Automated data entry functionality
The availability of a diverse and robust SaaS CRM system helps your team members automate data entry functionality. Moreover, your employees including customer support, marketing, and sales gains access to similar information.
This is because every single department works with a centralized login feature. The SaaS CRM software even favors the complete eradication of the duplicate contact records from the existing database.
The retrieval process of details from the CRM database is only a few mouse clicks away with the software. The employees find it compatible to share the data in a customized manner for building a perfect sales enablement strategy. They can even leverage the same with a range of customer-oriented SaaS marketing.
2. Efficient management of vital data
Soon after amassing the crucial facts and details of the prospects, your primary efforts begin. SaaS CRM software proves beneficial in such a move forward situation. The software streamlines all the vital information in a cohesive unit. Following the same, you are ready to connect with the sales prospect in real-time.
The SaaS CRM system stores every single interaction with the company. This ensures the reflection of smoother communication during the time of mutual interconnection.
SaaS CRM software associating with adequate management of data lets the companies notice the following advantages:-
- The occurrence of the business deal and present status.
- Reviewing the notes during conversation and further business schedules.
- Getting regular updates on the business deal.
- Referring to historical records for taking the best business decisions.
- Safety and security of data and information.
3. Automating repetitive processes with CRM software
With the help of SaaS CRM software, you are good to automate most of the redundant works. It helps avoid the duplication and ensures the complete automation of the repetitive process to save time.
For example, you are on the way to set up your workflows with the software and add more precious time to your working day. The automation of sending drip e-mails to your contacts at regular intervals is a cinch with the software.
SaaS CRM software makes it easy for you to send and track e-mails. For example, the e-mails may be in the form of a welcome e-mail, introductory e-mail, reminder e-mail, and/or a final notification e-mail to let the customers know that the 15-day free-subscription will end today.
The sales tracking functionality with the SaaS CRM system lets you know the attention of the individual about the same. You will be able to know whether the individual is taking interest in the mail or not.
The software even facilitates automatic tasks assigning the process to the sales team via the notification e-mail. This automation makes every single working approach easier.
4. No more requirement of separate calling platforms
Some of the modern SaaS CRM software reflect the positivity in making the sales calls without switching platforms. There are options for integrated calling software.
You find yourself on the way to make and receive the calls without switching from the current CRM. A full-featured CRM permits you to make the calls globally. For the same, you can use the local or the toll-free virtual number from a huge range of more than 80 countries.
The phone systems available with the sales CRM will have the following functionalities:-
- Automatic management of sales and calls from one platform.
- Call recording, and call recording like functions.
- Automatic logging of calls without any troubles.
- Inserting notes during sales calls.
- Monitoring the performance by creating calling reports.
- Call forwarding and collaborating with remote teams for added business.
5. Report creation capability to experience versatile sales insights
You find yourself ready to fetch the extensive SaaS CRM metrics with insightful reports by using the CRM for SaaS business. The stage comes ahead letting you close several deals and reduce the churn rates. The gaps inside the business processing become transparent and easily recognizable.
You are hereby ready to put in dedicated efforts at the specified areas for assured success. Soon after creating a report with SaaS CRM software, you can be doing the following:-
- Examining the average revenue necessary for every single user.
- Analyzing the problematic areas of the sales reps at a particular business step.
- Keeping track of the total number of deals to last in a specific month.
- Elimination of the cause for success barriers on the way of sales growth.
- Outbound activities tracking, and analysis of the sales reps performance
6. Appropriate management and tight control of the sales process
SaaS CRM software proves beneficial in increasing the sales growth and preventing the business deals to leak through the cracks. It creates and maintains a profitable sales flow of the SaaS business in CRM. The software even manages the sales processes for business clients from a wide range of industries. It functions by the construction of multiple sales pipelines using the software.
You are eligible to track the following activities in the business using CRM for SaaS businesses:-
- Get the entire updates of all the ongoing activities in the sales cycle.
- The facility of adding the rotting period for avoiding the stalled recommendations in the pipeline.
- Creation of huge numbers of deals as per the requirement.
- Analyzing or tracking the deal’s progress for quicker and on-time conversions.
7. Efficiency in appropriate centralized data management
It is problematic to gather information from different offline resources. The act seems lengthy leading to limiting the productivity of your sales team. The marketing, sales, and entire customer service activities fetch troubles while working on the older data.
The SaaS CRM software builds your capabilities to store and access the entire data at a single centralized place. The software supports the real-time data upgrade functionalities and allows saving the information on the cloud. The information is further accessible by every single system user where each user is on the same page.
The team has full-fledged authority to retrieve the data as and when necessary. The SaaS CRM system even supports the consistent update of the information. It lets you ensure that you are working on accurate data, each and every time.
8. Responsive functionality with Mobile CRM feature
The well designed and configured SaaS CRM software lets your sales team access critical sales data via mobile devices in no time. The robust mobile CRM helps employees access the information at any time as per their convenience.
Going ahead with the software via the handheld devices lets the employees manage the tasks, and track the ongoing business deals without any hassles.
Wow! you are handling the business in your pocket, and performing the required operations from anywhere as per your comfort. Understanding the wide range of advantages, it becomes difficult for the business owners to proceed without the availability of the CRM software.
The prime objective is choosing the best SaaS CRM software to automate the business and generate sales. You may proceed to select among the range of such software as per your requirements.
9. Exceptional output in terms of lead to customer conversion ratio
As per a research report generated by MarketingSherpa, about 80% of the leads never convert into sales due to the limited performance of the technological mechanisms. Rather than increasing the sales, it sometimes turns the sales graph downward resulting in a big loss.
SaaS CRM software comes out as the best solution to this problem. It helps track the entire customer interactions including the last contact with the customer, the best outcome, and the appropriate product selection as per the feedback.
CRM software helps in providing the information helping turn the leads into customers. The CRM for SaaS software thereby facilitates the lead to customer ration and increases the business.
10. Customer segmentation
Customer segmentation results as one of the vital business activities in the field of product marketing. It divides the customers into multiple smaller groups exhibiting similar kinds of characteristic features to enable the conversational marketing plan.
The customer segmentation process depends upon several factors including gender, age, demographics, purchasing patterns, etc.
SaaS CRM software in this aspect grabs and deeply analyzes the information coming from several sources and helps you target the potential customers for increasing the sales.
As per business necessities, the software helps divide customers into several groups. The organization in association with the SaaS CRM system generates the new product, decides the pricing as per the features, executes the campaigning methods, and decide the services.
In addition to the above-listed merits of CRM software for benefiting the organizations, there exist several other advantages of the same. These may include the following:-
- Appropriate campaign management
- Enhanced social media marketing.
- Improvement in the level of customer services
- Improvement in the customer’s loyalty and appropriate task management.
- Adequate utilization of the dedicated communication channels.
- Support for providing the best traceability matrix and data protection capability.
- Personalized escalation matrix and cost-effectiveness in product handling.
Benefits of CRM for your SaaS Business
SaaS CRM is available for sell following subscription criteria including the essential upgrade, maintenance, and reliable customer support. One such example is the Workbook CRM that works on a monthly subscription basis. No huge upfront costs are there for the software resulting in the greatest benefit.
The SaaS CRM system is easy to deploy with a web-browser and internet access. You are ready to go with this simple step without any requirement of the additional software for execution.
The SaaS vendor takes care of all the essential hardware and software maintenance. The customers need not worry about anything, leaving all the liabilities to the vendor.
The SaaS CRM software vendor provides unlimited upgrades and updates. It eliminates the need to download or install the patches independently. You are assured to use the most updated version of the software without any further worries.
Non-requirement of huge initial investment
SaaS CRM software never requires a huge investment as it operates on a monthly or annual subscription fee. You are ready to experience the magic of the extensive software in an easy go.
Seamless availability criteria
Customers can access the CRM database from anywhere in the world. Even there is no restriction to use a particular device for the purpose. You simply require an internet connection with a web browser.
The SaaS CRM software is available on the cloud and easily accessible via web browsers using the internet. It provides extensive help to the salespeople spending most of their time in the fieldwork.
In addition to the above-mentioned benefits, the SaaS CRM software is free from IT-based troubles as the customers never need to install, update, maintain any hardware.
Last but least CRM software is available with a scalable and flexible Information Technology based solution. The compatibility of the software is available with several other business tools.
How to Pick the Right CRM for SaaS Business
The right Saas CRM helps you achieve the zenith of business success with exceptional profits and maximum levels of the customer’s attraction.
So, how will you proceed to choose the best SaaS CRM software? Still confused? Let us understand the best strategies for picking the right CRM software with the help of the following set of points:-
1. Identify your necessity for selecting the Cloud vs On-Premise SaaS CRM software.
2. Decide the features and functionalities you need with the software and proceed accordingly.
3. Better make sure about the compatibility and integration of the system with other software.
4. Before the final purchase, you better request a demonstration, and test drive a free trial.
5. Prefer the selection of specific vendors along with locally available partners.
6. Proceed to check the available customizations and training before the final purchase.
7. Go through the reviews and analyze the user experience to get an idea about the software.
8. Make sure that the software is available with the GDPR based features. It lets you monitor, and manage the customer’s information more effectively.
CRM plays a vital role in the success of any business. Rather than analyzing the company’s size, it is better to understand and analyze your requirements as per the budget and proceed with the right software solution.
Concerning the above details, it is essential to understand the importance of SaaS CRM software for the good of any business. Why invest in the installation, handling, and maintenance of the locally operating software?
It is better to think technologically and proceed to go for a premium server operated service like SaaS for maximizing the business outcomes at different levels.