• Ankit Dudhwewala

    Customers Purchasing Insights for Customer Relationship Management Software

    SoftwareSuggest is a software discovery and recommendation platform. As a part of our work, we gather customer’s requirement, we analyze them and serve the industry with deep insights on software buyer trends under our initiative – SoftwareSuggest Insights.

    We have profiled the buying behavior of Customer Relationship Management Software buyers. You can go through this report to learn the latest trends in CRM software purchase.

    Key Findings

    • Business Services, Retail Sector, BPOs and Constructions &  Real Estate businesses are heavy users of CRM software.
    • A good number of CRM software buyers are located in Maharashtra, Karnataka and Delhi
    • On an average, businesses are willing to spend ₹500/user/month for SaaS based software.
    • The buyers were most concerned with integration,compatibility and price of the software while purchasing CRM.
    • Marketing & sales department, nearly 90% uses CRM software

    Which Industries are using CRM Software?

    About 20% of CRM users are businesses in the services sector.  This is because such businesses are directly connected with the customers and CRM comes in handy to make better communications with them.

    Retail sector, is the second highest user of CRM Software with about 15% enquiries on SoftwareSuggest.  They need CRM software to track purchase behavior of customers. This helps in creating up selling opportunities. The next position is occupied by BPO industry (i.e. 12%). Rests are shared by various industries like Hospitality, Healthcare, IT, etc.

    From which state maximum CRM requirement was generated?

    As shown in the chart below, the highest CRM Software buyers are from Maharashtra at 32%. The next place is occupied by Karnataka (9%), Delhi (8%), Gujarat and Haryana 7% each.

    What do users prefer – Web based or Installation based?

    Most business needs to access their software from multiple devices and from different location, and thus web-based software are preferred over installation based.

    What is the preferred budget of CRM software buyer?

    For cloud-based, it has been found that 60% of software buyers look for CRM software between ₹300 to ₹500/user/month,

    20% prefers to buy software between ₹600 to ₹800/user/month. The rest are ready to pay more than ₹900 user/month.

    For web based software installed on the customers server, it has been discovered that 70% of software buyer prefers to buy in the budget range of ₹1,00,000  to ₹1,50,000. Around 20% prefer buying in between ₹1,50,000 to ₹2,50,000.

    For offline software, it has been found that 60% of software buyers look for a CRM software between ₹20,000 to ₹30,000, 30% buyers are willing to spend ₹30,000 to ₹50,000, only 10% are willing to pay above ₹50,000.

    What is the ratio of New v/s Existing buyers?

    70% of the CRM buyers were buying CRM software for the first time. The rest 30% of the software buyers already have a software and reached to us due to following reasons

    • Software buyer was not satisfied with their current service provider
    • Software buyer wanted to move to the latest technologies

    What are the factors that influence purchasing decisions?

    The most important factor buyers look for in CRM is integration & compatibility with other software they use. The second most important factors are functionality & price of the software.

    What are the features that buyers look at when purchasing CRM Software?

    There are several features that software buyers look for before making a purchase decision. Here are some of the top features:

    features that buyers look at when purchasing CRM Software

    No. of Software evaluated before making a purchase decision?

    60% of the buyers evaluate up to four solutions. Around 20% take more than 5 demo. Only 10% of buyers close the deal after 1 demo, however, these buyer had evaluated other software earlier.

    How much time did it take to get the software implemented?

    20% of the users took more than 6 months to get their software fully operational. 50% of the buyers could have it completely integrated to their business process in less than 3 months.

    The report has been generated from the data collected by SoftwareSuggest team.

    We welcome your valuable thoughts or suggestions in the comment section below. You can find a list of CRM software here. 

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    Jul, 26
    2016
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