{"id":27942,"date":"2023-08-30T13:40:55","date_gmt":"2023-08-30T13:40:55","guid":{"rendered":"https:\/\/www.engagebay.com\/blog\/?p=27942"},"modified":"2025-04-18T14:44:18","modified_gmt":"2025-04-18T14:44:18","slug":"crm-roi","status":"publish","type":"post","link":"https:\/\/www.engagebay.com\/blog\/crm-roi\/","title":{"rendered":"What Nobody Tells You About CRM ROI: A Thought-Provoking Guide"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Have you ever wondered if the tools you implement in your business generate positive revenue? <\/span><span style=\"font-weight: 400;\">What about your customer relationship management (CRM) solution? <\/span><\/p>\n<p><strong>Do you know your CRM ROI? <\/strong><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019re considering a CRM for your business, you must know the ROI, or return on investment, for a CRM.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s why we\u2019ve meticulously researched and written this blog for you.&nbsp;<\/span><\/p>\n<pre><strong>In this ultimate guide, we\u2019ll cover:<\/strong>\r\n\r\n<span style=\"font-weight: 400;\"><span style=\"color: #ff6600;\">\u2714<\/span> The definition of CRM ROI<\/span>\r\n\r\n<span style=\"font-weight: 400;\"><span style=\"color: #ff6600;\">\u2714<\/span> The average ROI of CRM according to studies<\/span>\r\n\r\n<span style=\"font-weight: 400;\"><span style=\"color: #ff6600;\">\u2714<\/span> How to practically calculate the ROI of your CRM<\/span>\r\n\r\n<span style=\"font-weight: 400;\"><span style=\"color: #ff6600;\">\u2714<\/span> The factors that can improve the ROI of CRM solutions<\/span>\r\n\r\n<span style=\"font-weight: 400;\"><span style=\"color: #ff6600;\">\u2714<\/span> A few examples of case studies and research conducted on CRM ROI<\/span>\r\n\r\n<span style=\"font-weight: 400;\"><span style=\"color: #ff6600;\">\u2714<\/span> The veracity of the widely quoted Nucleus Research claims<\/span>\r\n\r\n<span style=\"font-weight: 400;\"><span style=\"color: #ff6600;\">\u2714<\/span> Why CRM implementations fail<\/span>\r\n\r\n<span style=\"font-weight: 400;\"><span style=\"color: #ff6600;\">\u2714<\/span> The best solution for small businesses to increase CRM ROI<\/span><\/pre>\n<p><span style=\"font-weight: 400;\">Let\u2019s get started!<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_74 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.engagebay.com\/blog\/crm-roi\/#What_is_CRM_ROI\" >What is CRM ROI?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.engagebay.com\/blog\/crm-roi\/#How_Much_ROI_Should_You_Expect_From_Your_CRM\" >How Much ROI Should You Expect From Your CRM?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.engagebay.com\/blog\/crm-roi\/#How_Do_You_Practically_Calculate_the_ROI_of_CRM\" >How Do You Practically Calculate the ROI of CRM?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.engagebay.com\/blog\/crm-roi\/#How_Can_Businesses_Maximize_CRM_ROI\" >How Can Businesses Maximize CRM ROI?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.engagebay.com\/blog\/crm-roi\/#CRM_ROI_Case_Studies\" >CRM ROI Case Studies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.engagebay.com\/blog\/crm-roi\/#For_the_Curious-Minded_Scrutinizing_the_Viral_Nucleus_Research\" >For the Curious-Minded: Scrutinizing the Viral Nucleus Research<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.engagebay.com\/blog\/crm-roi\/#On_the_Flip_Side_How_to_Avoid_CRM_Failures\" >On the Flip Side: How to Avoid CRM Failures<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.engagebay.com\/blog\/crm-roi\/#A_Solution_For_Small_Businesses_to_Improve_CRM_ROI\" >A Solution For Small Businesses to Improve CRM ROI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.engagebay.com\/blog\/crm-roi\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n\n<h2><span class=\"ez-toc-section\" id=\"What_is_CRM_ROI\"><\/span><span style=\"color: #339966;\"><strong>What is CRM ROI?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>CRM ROI is a measure of the business value of a customer relationship management (CRM) solution. It measures the return on investment (ROI) for your CRM solution by determining how much money it brings in compared to how much it costs.<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">While ROI is sometimes <em>expressed in dollars<\/em>, it is <em>inherently a ratio<\/em>. In essence, CRM ROI is the ratio of income earned to the cost of <a href=\"https:\/\/www.engagebay.com\/blog\/crm-implementation-guide\/\">CRM implementation<\/a>.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The ultimate goal is to have a CRM ROI of more than \u20181\u2019 or 100%. This ensures that businesses don\u2019t lose money and that the benefits of CRM outweigh the cost of implementing CRM.&nbsp;<\/span><\/p>\n<hr>\n<p>The basic formula for calculating the ROI of CRM is quite simple:<\/p>\n<p style=\"text-align: center;\"><strong><span style=\"color: #993300;\">CRM ROI<\/span> = (<span style=\"color: #993300;\">Gains from CRM investment<\/span> &#8211; <span style=\"color: #993300;\">Cost of CRM investment<\/span>) \/ <span style=\"color: #993300;\">Cost of CRM investment<\/span><\/strong><\/p>\n<p>To simplify and express the ROI in %:<\/p>\n<p style=\"text-align: center;\"><strong><span style=\"color: #993300;\">CRM ROI<\/span> = (<span style=\"color: #993300;\">Total profit<\/span> \/ <span style=\"color: #993300;\">Total investment<\/span>) * <span style=\"color: #993300;\">100<\/span><\/strong><\/p>\n<hr>\n<p><span style=\"font-weight: 400;\">That said, this formula does not offer the full picture. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Why? <\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>That\u2019s because forecasting or estimating the ROI of a CRM system is not as straightforward as calculating, let\u2019s say, the returns of a promotional campaign.&nbsp;<\/strong><\/span><\/p>\n<p>TL;DR &#8212; If you&#8217;re not a big reader, you can watch this video instead:<\/p>\n<div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe title=\"CRM ROI \u2013 It\u2019s Not What You Think\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/r-0eCOWfRYo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s get our hands dirty and find out what really impacts the ROI of CRM, and ways to improve profitability.&nbsp;<\/span><\/p>\n\r\n            <script>\r\n                var EhAPI = EhAPI || {}; \r\n                EhAPI.after_load = function() {\r\n                    EhAPI.set_account('ktb76s1540fl2hnhbqnrtd2npb', 'our');\r\n                    EhAPI.execute('rules');\r\n                };\r\n                (function(d, s, f) {\r\n                    var sc = document.createElement(s);\r\n                    sc.type = 'text\/javascript';\r\n                    sc.async = true;\r\n                    sc.src = f;\r\n                    var m = document.getElementsByTagName(s)[0];\r\n                    m.parentNode.insertBefore(sc, m);   \r\n                })(document, 'script', '\/\/d2p078bqz5urf7.cloudfront.net\/jsapi\/ehform.js');\r\n            <\/script>\r\n            <script>\r\n                function waitForEhForms() {\r\n                    const interval = 100; \/\/ Check every 100ms\r\n                    const checkAndLoad = () => {\r\n                        const params = new URLSearchParams(window.location.search);\r\n                        const elementorPreviewParam = params.get('elementor-preview');\r\n                        if (elementorPreviewParam && typeof EhForms !== 'undefined' && typeof EhForms.loadForms === 'function') {\r\n                            EhForms.loadForms();\r\n                            console.log('EhForms.loadForms() called successfully.');\r\n                        } else {\r\n                            setTimeout(checkAndLoad, interval);\r\n                        }\r\n                    };\r\n                    checkAndLoad();\r\n                }\r\n                \/\/ Call the function\r\n                waitForEhForms();\r\n            <\/script>\r\n        <div class='engage-hub-form-embed' id='eh_form_5161654467690496' data-id='5161654467690496'><\/div>\n<h2><span class=\"ez-toc-section\" id=\"How_Much_ROI_Should_You_Expect_From_Your_CRM\"><\/span><span style=\"color: #339966;\"><strong>How Much ROI Should You Expect From Your CRM?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In 2011, a <a href=\"https:\/\/nucleusresearch.com\/news\/crm-returns-5-60-for-every-dollar-invested-nucleus-research-finds\/\">study<\/a> by Nucleus Research found that the average <strong>ROI of CRM was $5.60 for every dollar invested.&nbsp;<\/strong><\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to Rebecca Wettemann, the VP of research (Nucleus Research):<\/span><\/p>\n<blockquote><p><span style=\"color: #008000;\"><i><span style=\"font-weight: 400;\">\u201cWith a return of $5.60 for every dollar spent, investing in CRM is a no-brainer. Further, that investment has significant staying power. As vendors add social, marketing, analytics, and mobile access capabilities to their offerings, organizations have an opportunity to gain even more returns from CRM\u201d<\/span><\/i><\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Then in 2014, another <a href=\"https:\/\/nucleusresearch.com\/wp-content\/uploads\/2018\/05\/o128-CRM-pays-back-8.71-for-every-dollar-spent.pdf\">study<\/a> by Nucleus Research found that the <strong>ROI rose to an as astounding $8.71 for every dollar invested<\/strong> \u2013 a claim that cemented the importance of CRM systems for businesses.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And if this is not enough, an <a href=\"https:\/\/dynamicconsultantsgroup.com\/resources\/crm\/roi-of-crm-2021\/\">estimate<\/a> by Dynamic Consultants Group shows that the ROI of CRM could have shot up to a <strong>whopping $30.48 for every dollar spent<\/strong> (in 2021).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But all these mind-blowing numbers don\u2019t mean anything without the correct approach, right?<\/span><\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/crm-implementation-guide\/\">Read also:&nbsp;CRM Implementation Guide with Exact Steps<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Do_You_Practically_Calculate_the_ROI_of_CRM\"><\/span><span style=\"color: #339966;\"><strong>How Do You Practically Calculate the ROI of CRM?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">We know the formula we\u2019ve shown above is so simple that it\u2019s \u201ctoo good to be true.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Though the formula is correct, calculating the ROI for CRM is more complicated than say, calculating the returns of a marketing campaign.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let me put it this way: <strong>how do you calculate the gains from investing in a CRM? It is, after all, just a tool.&nbsp;<\/strong><\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can\u2019t just calculate your revenue and measure it with the cost of CRM \u2013 there are so many overhead costs that must be included.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lawrence and Buttle, in their <a href=\"https:\/\/www.researchgate.net\/publication\/253730910_ROI_on_CRM_a_customer-journey_approach\">study<\/a> \u201cROI on CRM: a customer-journey approach,\u201d illustrates the pain points of deriving the CRM ROI. Here\u2019s an excerpt from their study:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400; color: #008000;\">\u201c<em>In the conventional ROI formula, return is defined as profit. However, tracing profit consequences of CRM investments is extremely difficult if not impossible at the strategic level of analysis. Other factors such as superior customer-valued quality, efficiency of distribution, brand image or corporate reputation may all be important determinants of sales and profitability.<\/em>\u201d<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Fortunately, there are ways to quantify various metrics so that you can finally make the CRM ROI calculation.<\/span><\/p>\n<p><strong>Spoiler alert: it\u2019s not that easy.<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s first list the steps to measure gains, and then move on to calculating the costs.&nbsp;<\/span><\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/what-are-crm-systems\/\">Read also:&nbsp;What are CRM Systems? A Definitive Guide (Benefits, Challenges)<\/a><\/p>\n<h3><span style=\"color: #993300;\"><strong>How to measure the gains from your CRM implementation<\/strong><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">To actually measure gains, you need to know how your business was performing before you implemented the CRM. Called the \u2018baseline,\u2019 this helps you figure out how the CRM tools are used by your teams to improve business processes \u2013 another important benefit of calculating your ROI.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Enough beating around the bush. Let\u2019s dive in and see each metric and how it helps you calculate the overall ROI.<\/span><\/p>\n<h4><span style=\"color: #666699;\"><strong>Cost per lead (CPL)<\/strong><\/span><\/h4>\n<p><strong>The Cost Per Lead, or CPL, is a metric that measures the effectiveness of your marketing campaigns and teams in terms of generating leads for your sales team.&nbsp;<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">It includes all the costs associated with generating leads, including salaries, pay-per-click campaigns, and any other costs.&nbsp;<\/span><\/p>\n<p><strong>Simplified formula for cost per lead:<\/strong><\/p>\n<hr>\n<p style=\"text-align: center;\"><strong><span style=\"color: #993300;\">Cost per lead <span style=\"color: #000000;\">=<\/span> Cost of generating leads<\/span> \/<span style=\"color: #993300;\"> total leads acquired<\/span><\/strong><\/p>\n<hr>\n<p><span style=\"font-weight: 400;\">A CRM software can automate, capture, and streamline <a href=\"https:\/\/www.engagebay.com\/blog\/lead-generation-guide\/\">lead generation processes<\/a> \u2013 making it easier for marketing teams to generate leads. Simply put, a CRM software can get more leads with less sales and marketing efforts, thereby reducing expenses.<\/span><\/p>\n<h4><strong><span style=\"color: #666699;\">Revenue per lead (RPL)<\/span><\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Revenue per lead is commonly used by marketing and sales teams to calculate the revenue generated from each lead.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Simply put, the formula is calculated by taking the total revenue generated by leads and dividing it by the number of SQLs, or sales-qualified leads. It is usually calculated quarterly or annually.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how: <strong>If your annual revenue is $500,000 and you got 500 SQLs, then,<\/strong><\/span><\/p>\n<hr>\n<p style=\"text-align: center;\"><strong><span style=\"color: #993300;\">Revenue per lead<\/span> = <span style=\"color: #993300;\">$500,000 <\/span>\/ <span style=\"color: #993300;\">500<\/span> = <span style=\"color: #993300;\">$1,000 per lead<\/span><\/strong><\/p>\n<hr>\n<p><span style=\"font-weight: 400;\">Calculating revenue per lead is beneficial because it shows how effective your marketing and sales teams are. But more importantly, it helps you understand the lifetime value of your customers.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A CRM software helps acquire and provide information about lead behavior, customer satisfaction metrics, and conversion rate, and improves efficiency. It can also provide valuable sales data on <a href=\"https:\/\/www.engagebay.com\/blog\/cross-sell\/\">upselling and cross-selling<\/a>.<\/span><\/p>\n<h4><span style=\"color: #666699;\"><strong>Overall revenue<\/strong><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">It goes without saying: Overall revenue is the most important metric to measure.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fortunately, it\u2019s the easiest.&nbsp;<\/span><\/p>\n<p><strong>Simply compare overall revenue post-CRM with pre-CRM, and you\u2019ll know if your CRM implementation has come to fruition.&nbsp;<\/strong><\/p>\n<hr>\n<p>For example, say Business X has a subscription-based model. For the sake of simplicity, let&#8217;s say there are no upselling and cross-selling opportunities.&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong><span style=\"color: #993300;\">Total annual revenue<\/span> = <span style=\"color: #993300;\">subscriptions sold<\/span> \u00d7 <span style=\"color: #993300;\">annual cost of each subscription<\/span><\/strong><\/p>\n<p>Before CRM implementation, the business sold 4,000 copies. So,<\/p>\n<p style=\"text-align: center;\"><strong><span style=\"color: #993300;\">Total annual revenue<\/span> = <span style=\"color: #993300;\">4,000<\/span> \u00d7<span style=\"color: #993300;\"> $500<\/span> = <span style=\"color: #993300;\">$2,000,000<\/span><\/strong><\/p>\n<p>After CRM implementation, the business sold 6,700 copies. So,<\/p>\n<p style=\"text-align: center;\"><strong><span style=\"color: #993300;\">Total annual revenue<\/span> = <span style=\"color: #993300;\">6,700<\/span> \u00d7 <span style=\"color: #993300;\">$500<\/span> = <span style=\"color: #993300;\">$3,350,000<\/span><\/strong><\/p>\n<p>It&#8217;s clear that the revenue grew by around $1.3 million in one year.&nbsp;<\/p>\n<hr>\n<p><span style=\"font-weight: 400;\">A word of caution. If your CRM is too complicated to use, the initial training cost and learning curve may affect the ROI of CRM. Fortunately, most CRM vendors offer in-depth training and onboarding to make the transition easier.&nbsp;<\/span><\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/crm-functionality\/\">Read also:&nbsp;CRM Functionality: 12 CRM Features That Fuel Growth Hacking<\/a><\/p>\n<h3><span style=\"color: #993300;\"><strong>How to measure the cost of implementing a CRM solution<\/strong><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Measuring costs can be easier than measuring gains (in most cases).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You simply have to calculate the actual cost of the <a href=\"https:\/\/www.engagebay.com\/products\/crm\">CRM software<\/a> \u2013 upfront costs, monthly subscriptions, training costs, and more. Also, factor in the loss during the CRM deployment phase.&nbsp;<\/span><\/p>\n<h4><strong><span style=\"color: #666699;\">Example Cost of CRM Implementation (includes onboarding)<\/span><\/strong><\/h4>\n<p>Here&#8217;s a simple example of calculating the cost of implementation for Business X:<\/p>\n<table>\n<tbody>\n<tr style=\"background-color: #d2c4df;\">\n<td class=\"selected\">\n<div class=\"wrap\">\n<div><strong>CRM implementation stage<\/strong><\/div>\n<\/div>\n<\/td>\n<td class=\"selected\">\n<div class=\"wrap\">\n<div><strong>Cost<\/strong><\/div>\n<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"selected\">\n<div class=\"wrap\">Research and planning cost<\/div>\n<\/td>\n<td class=\"selected\">\n<div class=\"wrap\">\n<div>$2,000<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"selected\">\n<div class=\"wrap\">Implementation<\/div>\n<\/td>\n<td class=\"selected\">\n<div class=\"wrap\">\n<div>$3,200<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"selected\">\n<div class=\"wrap\">User training and onboarding<\/div>\n<\/td>\n<td class=\"selected\">\n<div class=\"wrap\">\n<div>$1,500<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"selected\">\n<div class=\"wrap\">Post-live support<\/div>\n<\/td>\n<td class=\"selected\">\n<div class=\"wrap\">\n<div>$1,000<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"selected\">\n<div class=\"wrap\">\n<div><span style=\"color: #666699;\"><strong>Total cost of CRM implementation<\/strong><\/span><\/div>\n<\/div>\n<\/td>\n<td class=\"selected\">\n<div class=\"wrap\">\n<div><span style=\"color: #666699;\"><strong>$7,700<\/strong><\/span><\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>This is just an example quote to give you an idea of what the costs may look like. Please understand that the cost of CRM implementation may vary for different companies.&nbsp;<\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/crm-modules\/\">Read also: These CRM Modules Can Skyrocket Your Customer Loyalty<\/a><\/p>\n<h4><strong><span style=\"color: #666699;\">Example CRM usage cost for one year<\/span><\/strong><\/h4>\n<p>You&#8217;ve got the implementation costs right; the next step is to calculate the total CRM cost for one year. Here&#8217;s an example:<\/p>\n<table>\n<tbody>\n<tr style=\"background-color: #d2c4df;\">\n<td class=\"selected\" colspan=\"1\" rowspan=\"1\">\n<div class=\"wrap\">\n<div><strong>Particular<\/strong><\/div>\n<\/div>\n<\/td>\n<td class=\"selected\" colspan=\"1\" rowspan=\"1\">\n<div class=\"wrap\">\n<div><strong>Cost<\/strong><\/div>\n<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"selected\" colspan=\"1\" rowspan=\"1\">\n<div class=\"wrap\">\n<div>CRM implementation costs (previously calculated)<\/div>\n<\/div>\n<\/td>\n<td class=\"selected\" colspan=\"1\" rowspan=\"1\">\n<div class=\"wrap\">\n<div>$7,700<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"selected\" colspan=\"1\" rowspan=\"1\">\n<div class=\"wrap\">\n<div>Annual subscription costs&nbsp;<\/div>\n<\/div>\n<\/td>\n<td class=\"selected\" colspan=\"1\" rowspan=\"1\">\n<div class=\"wrap\">\n<div>$3,600<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"selected\" colspan=\"1\" rowspan=\"1\">\n<div class=\"wrap\">\n<div>Premium support costs (if any)<\/div>\n<\/div>\n<\/td>\n<td class=\"selected\" colspan=\"1\" rowspan=\"1\">\n<div class=\"wrap\">\n<div>$600<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"selected\">\n<div class=\"wrap\">\n<div><span style=\"color: #666699;\"><strong>Total annual costs<\/strong><\/span><\/div>\n<\/div>\n<\/td>\n<td class=\"selected\">\n<div class=\"wrap\">\n<div><span style=\"color: #666699;\"><strong>$11,900<\/strong><\/span><\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">In the end, it\u2019s all about the cost \u2013 your CRM software should lift the bottom line. Otherwise, it is pretty useless.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A CRM software should be able to help your teams offer better service to your customers. This should, in turn, <a href=\"https:\/\/www.engagebay.com\/blog\/increase-revenue\/\">increase your sales revenue<\/a> and reduce acquisition costs.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While we\u2019ve mentioned the most important factors, here are some more metrics you can use to measure the ROI of your CRM: break-even points, sales cycle efficiency, sales process improvement, and more.&nbsp;<\/span><\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/what-is-a-crm-database\/\">Read also:&nbsp;CRM Database: Enhancing Your Customer Relationships<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Can_Businesses_Maximize_CRM_ROI\"><\/span><span style=\"color: #339966;\"><strong>How Can Businesses Maximize CRM ROI?<\/strong><\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There\u2019s a lot of play when it comes to CRM. But these are the key factors that can help maximize the ROI of your CRM:<\/span><\/p>\n<h3><span style=\"color: #993300;\"><strong>Choose a cloud-based CRM<\/strong><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Choosing a SaaS-based CRM software has numerous benefits. Getting a <a href=\"https:\/\/www.engagebay.com\/blog\/cloud-based-crm-software\/\">cloud-based CRM software<\/a> means you don\u2019t have to worry about maintaining any form of hardware or infrastructure, servers, IT experts, and maintenance.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, most subscription-based CRM software are quite affordable and more secure than on-premise CRM software, especially for small businesses. Cloud-based CRM adoption also works well for SMBs with a small existing customer base, as this can result in higher marketing ROI and greater customer retention (by negating the need for installation, resources, and maintenance).&nbsp;<\/span><\/p>\n<h3><span style=\"color: #993300;\"><strong>Choose a CRM tool with integrations<\/strong><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Integrations expand the capabilities of CRM software. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Choose a software that offers the integrations you need \u2013 you may need telephony, automation, social media, calendar, accounting, and other platforms.&nbsp;<\/span><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/EngageBay-integrations.png\"><img decoding=\"async\" class=\"size-full wp-image-27980 aligncenter\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/EngageBay-integrations.png\" alt=\"\" width=\"1905\" height=\"980\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/EngageBay-integrations.png 1905w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/EngageBay-integrations-300x154.png 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/EngageBay-integrations-1024x527.png 1024w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/EngageBay-integrations-768x395.png 768w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/EngageBay-integrations-1536x790.png 1536w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/EngageBay-integrations-595xh.png 595w\" sizes=\"(max-width: 1905px) 100vw, 1905px\" \/><\/a><\/p>\n<h3><span style=\"color: #993300;\"><strong>Find out the exact features you need<\/strong><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Choosing a CRM software that has the features you need is of paramount importance. In fact, you need to choose the plan that aligns with your team&#8217;s needs. Spending money on features you don\u2019t require is a complete waste.&nbsp;<\/span><\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/return-on-sales\/\">Read also: Return on Sales: Does Your ROS Make Sense Yet?<\/a><\/p>\n<h3><span style=\"color: #993300;\"><strong>Modify your business processes around the CRM solution<\/strong><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Here\u2019s a tip you won\u2019t find in many blogs: you must modify your business processes and other tasks around the CRM \u2013 not the other way around. In essence, this means you need to ensure that each business process is streamlined to improve efficiency. The result? Better CRM capability and customer success.&nbsp;<\/span><\/p>\n<h3><span style=\"color: #993300;\"><strong>Define your CRM strategy<\/strong><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">This is perhaps the most important tip. Ever.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CRM does not magically solve everything. It\u2019s just a tool and, when used correctly, can yield astounding results.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But before anything of the sort can happen, you need a sound CRM strategy in place. You need to know why you\u2019re implementing the CRM, and define crystal-clear objectives.&nbsp;<\/span><\/p>\n<p>Find out how to <a href=\"https:\/\/www.engagebay.com\/blog\/crm-strategy\/\">create a decisive CRM strategy<\/a> for your business.&nbsp;<\/p>\n<p><em><img decoding=\"async\" class=\"emoji\" role=\"img\" draggable=\"false\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/14.0.0\/svg\/1f449.svg\" alt=\"\ud83d\udc49\">Maximize efficiency and improve customer relationships with the best CRM automation software. Discover the top options in <a href=\"https:\/\/www.engagebay.com\/blog\/best-crm-automation-software\/\" data-wpel-link=\"internal\">our guide<\/a>.<\/em><\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/how-much-does-crm-cost\/\">Read also:&nbsp;How Much Does CRM Cost?<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"CRM_ROI_Case_Studies\"><\/span><span style=\"color: #339966;\"><strong>CRM ROI Case Studies<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Intensive research and studies have been conducted regarding the ROI of CRM. I\u2019ll list a few awesome case studies (some might be boring:-( ):<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/nucleusresearch.com\/wp-content\/uploads\/2018\/05\/o128-CRM-pays-back-8.71-for-every-dollar-spent.pdf\"><span style=\"font-weight: 400;\">CRM pays back $8.71 for every dollar spent<\/span><\/a><span style=\"font-weight: 400;\"> \u2013 Nucleus Research<\/span><\/li>\n<li aria-level=\"1\"><a href=\"https:\/\/www.researchgate.net\/publication\/253730910_ROI_on_CRM_a_customer-journey_approach\">ROI on CRM: a customer-journey approach<\/a> &#8212; Lawrence and Francis<\/li>\n<li aria-level=\"1\">\n<p class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/mastersolve.com\/blog\/calculating-your-crm-return-on-investment\/\">Calculating Your CRM Return on Investment<\/a> &#8212; Jenny Jones<\/p>\n<\/li>\n<\/ul>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/what-are-crm-systems\/\">Read also: What are CRM Systems? (Benefits and Challenges)<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"For_the_Curious-Minded_Scrutinizing_the_Viral_Nucleus_Research\"><\/span><span style=\"color: #339966;\"><strong>For the Curious-Minded: Scrutinizing the Viral Nucleus Research<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"elementor-heading-title elementor-size-default\"><span style=\"font-weight: 400;\">If you are in the B2B industry, you\u2019d definitely have come across the estimates quoted by Nucleus Research (hell, even we mentioned it throughout this blog!): For every dollar spent, CRM offers a return on investment of $8.71 \u2026&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Just typing \u201cCRM ROI\u201d in Google search yields dozens of pages that have articles all quoting the same research.&nbsp;<\/span><\/p>\n<p><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/CRM-ROI-Google-Search.png\"><img decoding=\"async\" class=\"size-full wp-image-27987 aligncenter\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/CRM-ROI-Google-Search.png\" alt=\"\" width=\"909\" height=\"589\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/CRM-ROI-Google-Search.png 909w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/CRM-ROI-Google-Search-300x194.png 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/CRM-ROI-Google-Search-768x498.png 768w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/CRM-ROI-Google-Search-595xh.png 595w\" sizes=\"(max-width: 909px) 100vw, 909px\" \/><\/a><\/p>\n<p><strong>But how true is this study?<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Fair warning, I\u2019m not here to diss Nucleus Research or their studies. But it\u2019s impossible to turn a blind eye to the often quoted estimate. In fact, no other software category promises an ROI of 870%.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There\u2019s an interesting <a href=\"https:\/\/www.brightworkresearch.com\/how-likely-is-it-that-the-often-quoted-nucleus-research-crm-roi-estimates-are-correct\/\">article<\/a> I came across that challenges this study. According to this article:&nbsp;<\/span><\/p>\n<figure id=\"attachment_27974\" aria-describedby=\"caption-attachment-27974\" style=\"width: 955px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/rc.png\"><img decoding=\"async\" class=\"wp-image-27974 size-full\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/rc.png\" alt=\"High ROI from expensive CRM is not probable\" width=\"955\" height=\"260\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/rc.png 955w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/rc-300x82.png 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/rc-768x209.png 768w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/rc-595xh.png 595w\" sizes=\"(max-width: 955px) 100vw, 955px\" \/><\/a><figcaption id=\"caption-attachment-27974\" class=\"wp-caption-text\"><em>An excerpt from <a href=\"https:\/\/www.brightworkresearch.com\/how-likely-is-it-that-the-often-quoted-nucleus-research-crm-roi-estimates-are-correct\/\">BrightWorkResearch<\/a> explaining how high ROI is not probable from expensive CRM vendors<\/em><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">My only take from the research and this article is that not all businesses should believe that just implementing a CRM solution can yield the returns promised by the said case study.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While the research could be theoretically correct, a lot of factors are at play. This is especially true for small businesses where saving cost is extremely important.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s why small businesses should choose a CRM technology that is affordable, easy to use, and has the tools they need. <strong>For example, choosing HubSpot as their CRM solution could spell disaster for small businesses in the long run.&nbsp;<\/strong><\/span><\/p>\n<p><span style=\"font-weight: 400;\">While HubSpot is an amazing CRM and one of the best in the industry, the price tag is simply too much to give small businesses a positive ROI.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how much <a href=\"https:\/\/www.engagebay.com\/blog\/hubspot-pricing\/\">HubSpot\u2019s Starter plan costs<\/a> as the number of contacts increases:<\/span><\/p>\n<figure id=\"attachment_24766\" aria-describedby=\"caption-attachment-24766\" style=\"width: 1268px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/ezgif.com-gif-maker-_2_.gif\"><img decoding=\"async\" class=\"wp-image-24766 size-full\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/ezgif.com-gif-maker-_2_.gif\" alt=\"HubSpot sliding scale model\" width=\"1268\" height=\"602\"><\/a><figcaption id=\"caption-attachment-24766\" class=\"wp-caption-text\"><em>HubSpot uses a sliding scale pricing model &#8212; which may get quite expensive<\/em><\/figcaption><\/figure>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/is-hubspot-free\/\">Read also: Is HubSpot CRM Free? An Unbiased Guide (with User Reviews)<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"On_the_Flip_Side_How_to_Avoid_CRM_Failures\"><\/span><strong><span style=\"color: #339966;\">On the Flip Side: How to Avoid CRM Failures<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">We\u2019ve been going on and on about the positive effects of implementing a CRM solution.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But ever so often, things don\u2019t go as planned \u2013 and that\u2019s the sad truth.&nbsp;<\/span><\/p>\n<figure id=\"attachment_27973\" aria-describedby=\"caption-attachment-27973\" style=\"width: 650px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/Biggest_CRM_challenge_chart_SOIS.png\"><img decoding=\"async\" class=\"wp-image-27973 size-full\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/Biggest_CRM_challenge_chart_SOIS.png\" alt=\"Challenges in CRM\" width=\"650\" height=\"478\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/Biggest_CRM_challenge_chart_SOIS.png 650w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/Biggest_CRM_challenge_chart_SOIS-300x221.png 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/09\/Biggest_CRM_challenge_chart_SOIS-595xh.png 595w\" sizes=\"(max-width: 650px) 100vw, 650px\" \/><\/a><figcaption id=\"caption-attachment-27973\" class=\"wp-caption-text\"><em>Source: <a href=\"https:\/\/makewebbetter.com\/blog\/31-sizzling-crm-stats-that-convince-you-to-buy-one-for-your-business-in-2022\/\">MakeWebBetter<\/a><\/em><\/figcaption><\/figure>\n<p><strong>According to CIO, the failure rate of CRM projects is around 33%.&nbsp;<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">To put that into perspective, <strong>around 1 in 3 CRM implementation projects fail to yield a positive ROI.<\/strong> It\u2019s hard to digest this, but it&#8217;s important to take a look at the reasons that cause failures in CRM implementation.&nbsp;<\/span><\/p>\n<h3><span style=\"color: #993300;\"><strong>Reasons for CRM Failure<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"font-weight: 400;\"><strong>Unreasonable expectations:<\/strong> Many zealous owners and decision-makers set unrealistic CRM goals, expectations, and schedules while implementing a CRM solution. CRM is just a tool, after all, and not a magic wand that solves all problems.&nbsp;<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><strong>CRM Data integrity:<\/strong> Even if the CRM platform is working fine, duplicate, improperly assigned, and inaccurate customer data play a major role in creating data quality problems. This, in turn, can adversely affect user satisfaction.&nbsp;<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><strong>Budget constraints:<\/strong> Oftentimes, businesses choose an expensive CRM vendor that may not play well with their marketing and operational budget. An expensive CRM solution usually has complicated tools and may need expensive, complex onboarding before teams can use it practically. Expensive CRM adoption can negatively impact the ROI of CRM.&nbsp;<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Finally, with multiple decision-makers comes varying objectives.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There\u2019s sales, marketing, finance, IT, and most importantly, the C-suite. With every team and member weighing in their requirements, the main objective gets convoluted to the point where there\u2019s no clear direction.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This excerpt from a Harvard Business Review article perfectly summarizes the mess:&nbsp;<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400; color: #008000;\">\u201c<em>The EVP of marketing was pleased she could now track the assignment of every single lead. The CIO was unhappy about data integrity issues that arose from the integration of more than 20 discreet databases. The EVP of sales liked the easy-access dashboard to report on metrics and the forecast. Sales management was less positive but acknowledged that it helped them monitor activity. And the sales team \u2014 well, they mostly hated it.<\/em>\u201d<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">So, what\u2019s the solution?<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Think of your CRM as a tool to generate better revenue<\/b><span style=\"font-weight: 400;\">: Everyone from top executives and sales management to sales reps should know that it is a tool to help close more deals, and not a mundane office requirement. That&#8217;s why choosing the right CRM is important.&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Integrate marketing with sales<\/b><span style=\"font-weight: 400;\">: This cannot be stressed enough. That\u2019s why choosing a CRM solution that unifies marketing and sales is essential (and many CRM solutions do not have this important feature).<\/span><\/li>\n<\/ol>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/challenges-of-crm-implementation\/\">Read also:&nbsp;9 Challenges of CRM Implementation &amp; How to Dust Them Off<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_Solution_For_Small_Businesses_to_Improve_CRM_ROI\"><\/span><span style=\"color: #339966;\"><strong>A Solution For Small Businesses to Improve CRM ROI<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">We\u2019ve said it before, and we\u2019ll say it again. Small businesses need a unified, easy-to-use, and affordable CRM solution in order to achieve a positive CRM ROI.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While there are dozens of CRM vendors in the market today, not all of them are suitable for small businesses.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s where EngageBay comes in.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.engagebay.com\/\">EngageBay<\/a> is an affordable, unified CRM solution designed specifically for small businesses. The keywords here? Affordable. Unified.&nbsp;<\/span><\/p>\n<p><strong>Here are a couple of reasons to choose EngageBay:<\/strong><\/p>\n<ul>\n<li><strong>Reason #1: <\/strong><span style=\"font-weight: 400;\">EngageBay\u2019s CRM starts at just $11.99\/month, while the Pro plan offers unlimited contacts and enterprise-level tools for just $79.99\/month. Plus, EngageBay offers free onboarding and migration services.&nbsp;<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><strong>Reason #2:<\/strong> <\/span><span style=\"font-weight: 400;\">As we said before, one of the main reasons CRM implementation fails is because marketing and sales are not unified. EngageBay unifies marketing, sales, and customer service which offers a 360-degree view of your customers while also improving customer experience and CRM performance.&nbsp;<\/span><\/li>\n<\/ul>\n<p>Want to know why EngageBay could be a great choice for your business? <strong>Check out this comparison:&nbsp;<\/strong><\/p>\n<table>\n<tbody>\n<tr style=\"background-color: #d2c4df;\">\n<td>\n<p style=\"text-align: center;\"><strong>Factors that improve CRM ROI<\/strong><\/p>\n<\/td>\n<td>\n<p style=\"text-align: center;\"><strong>EngageBay<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Choose an affordable CRM<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u2714 Is one of the most affordable CRM solutions<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Choose a CRM with a good onboarding solution to minimize the transition period<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u2714 Offers free onboarding and migration services<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Choose a cloud-based CRM<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u2714 Is a cloud-based SaaS CRM software<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Integrate marketing with sales<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u2714 Offers a unified marketing, sales, and customer support software<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Choose a CRM with integrations<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u2714 Offers dozens of native integrations and thousands of third-party integrations<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">Thousands of SMBs and startups use EngageBay to solve their business problems and increase revenue.&nbsp;<\/span><\/p>\n<p><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-e1656654778507.png\"><img decoding=\"async\" class=\"aligncenter wp-image-24549 size-full\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-e1656654778507.png\" alt=\"EngageBay review on G2\" width=\"1900\" height=\"744\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-e1656654778507.png 1900w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-e1656654778507-300x117.png 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-e1656654778507-1024x401.png 1024w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-e1656654778507-768x301.png 768w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-e1656654778507-1536x601.png 1536w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-e1656654778507-595xh.png 595w\" sizes=\"(max-width: 1900px) 100vw, 1900px\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-2.jpg\"><img decoding=\"async\" class=\"aligncenter wp-image-25841 size-full\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-2.jpg\" alt=\"EngageBay review on G2\" width=\"1132\" height=\"491\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-2.jpg 1132w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-2-300x130.jpg 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-2-1024x444.jpg 1024w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-2-768x333.jpg 768w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_G2-2-595xh.jpg 595w\" sizes=\"(max-width: 1132px) 100vw, 1132px\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_Capterra-e1656654351970.png\"><img decoding=\"async\" class=\"aligncenter wp-image-24550 size-full\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_Capterra-e1656654351970.png\" alt=\"EngageBay review on Capterra\" width=\"1920\" height=\"590\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_Capterra-e1656654351970.png 1920w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_Capterra-e1656654351970-300x92.png 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_Capterra-e1656654351970-1024x315.png 1024w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_Capterra-e1656654351970-768x236.png 768w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_Capterra-e1656654351970-1536x472.png 1536w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2022\/07\/EngageBay-positive_Capterra-e1656654351970-595xh.png 595w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/><\/a><\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/easy-to-use-crm-small-business\/\">Read also:&nbsp;8 Reasons Why Every Small Business Needs an Easy-to-Use CRM Software<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><span style=\"color: #339966;\"><strong>Conclusion<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">We\u2019ve seen how powerful implementing a CRM solution can be. We\u2019ve seen the numbers, we\u2019ve questioned the authenticity, and we\u2019ve seen the flip side.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CRM software is an important tool that can generate revenue for your business.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But it\u2019s not magic. At the end of the day, it\u2019s your marketing team that\u2019s responsible for bringing in leads; it\u2019s your sales team that needs to offer value to customers and close deals.&nbsp;<\/span><\/p>\n<p><strong>This is how you amplify the ROI of your CRM solution.&nbsp;<\/strong><\/p>\n<p><em><img decoding=\"async\" class=\"emoji\" role=\"img\" draggable=\"false\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/14.0.0\/svg\/1f449.svg\" alt=\"\ud83d\udc49\">Master the power of CRM databases with our comprehensive guide \u2013 <a href=\"https:\/\/www.engagebay.com\/blog\/what-is-a-crm-database\/\" data-wpel-link=\"internal\">explore the benefits and features now<\/a>! <img decoding=\"async\" class=\"emoji\" role=\"img\" draggable=\"false\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/14.0.0\/svg\/1f31f.svg\" alt=\"\ud83c\udf1f\"><\/em><\/p>\n\r\n            <script>\r\n                var EhAPI = EhAPI || {}; \r\n                EhAPI.after_load = function() {\r\n                    EhAPI.set_account('ktb76s1540fl2hnhbqnrtd2npb', 'our');\r\n                    EhAPI.execute('rules');\r\n                };\r\n                (function(d, s, f) {\r\n                    var sc = document.createElement(s);\r\n                    sc.type = 'text\/javascript';\r\n                    sc.async = true;\r\n                    sc.src = f;\r\n                    var m = document.getElementsByTagName(s)[0];\r\n                    m.parentNode.insertBefore(sc, m);   \r\n                })(document, 'script', '\/\/d2p078bqz5urf7.cloudfront.net\/jsapi\/ehform.js');\r\n            <\/script>\r\n            <script>\r\n                function waitForEhForms() {\r\n                    const interval = 100; \/\/ Check every 100ms\r\n                    const checkAndLoad = () => {\r\n                        const params = new URLSearchParams(window.location.search);\r\n                        const elementorPreviewParam = params.get('elementor-preview');\r\n                        if (elementorPreviewParam && typeof EhForms !== 'undefined' && typeof EhForms.loadForms === 'function') {\r\n                            EhForms.loadForms();\r\n                            console.log('EhForms.loadForms() called successfully.');\r\n                        } else {\r\n                            setTimeout(checkAndLoad, interval);\r\n                        }\r\n                    };\r\n                    checkAndLoad();\r\n                }\r\n                \/\/ Call the function\r\n                waitForEhForms();\r\n            <\/script>\r\n        <div class='engage-hub-form-embed' id='eh_form_6268678992035840' data-id='6268678992035840'><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Have you ever wondered if the tools you implement in your business generate positive revenue? 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But is it? And, how can you practically calculate the ROI of CRM implementation? We explain it all.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.engagebay.com\/blog\/crm-roi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Nobody Tells You About CRM ROI: A Thought-Provoking Guide\" \/>\n<meta property=\"og:description\" content=\"The ROI of CRM is an astounding $8.71! But is it? And, how can you practically calculate the ROI of CRM implementation? 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