Find the Best SaaS CRM

SaaS (Software As A Service) companies have become more widespread in the last decade. These companies provide software to a multitude of clients, thanks to cloud technology. However, due to the sheer number of clients to track, these companies require effective digital tools to keep track of everything.

One way they can do this is to use CRMs (Customer Relationship Management). With CRMs, they can not only keep track of all their clients but also reduce admin work. CRMs are also widely applicable to all kinds of SaaS firms, whether they’re startups or large-scale enterprises.

In this guide, we’re going to have a general look into CRMs for SaaS companies and what they can do for them.

A CRM for SaaS is a specialized tool designed to help subscription-based software companies manage their customer lifecycle, from lead generation to customer retention. Unlike traditional industries, the SaaS business model uses CRMs to focus heavily on user onboarding, engagement, subscription tracking, etc.

The CRMs being utilized by SaaS companies fall into two categories: in-house and SaaS. In-house CRMs are directly installed on the business’s servers, often requiring an in-house team to maintain them. In contrast, a SaaS CRM is a CRM sold on a subscription basis, allowing for lower costs and more scalability. With the advent of cloud technology, these SaaS CRMs have become more widespread, going so far as to being used by other SaaS companies.

For clarity’s sake, when we talk about CRMs on this page, we are, in fact, referring to SaaS CRMs that are used by other SaaS companies.

Core Functionalities Of A CRM For SaaS

Due to market saturation, one CRM can have a variety of features not found in other ones. As a result, many businesses end up using all kinds of CRMs for some particular solution or the other. That being said, there is a certain essential feature set that most CRMs share. These features are:

Contact Management

The defining feature for most CRMs—the ability to organize customer information (purchase history, preferences, records, etc.) in one place. This centralized approach to data means that businesses have easy access to customer information.

Multi-Channel Customer Service

To build longer lasting relationships with customers means to be with them every step of the way, even during support. CRMs can help with this aspect by providing features such as a tick management system, self-service tools and various support channels such as email, chat, phone, etc.

Automation

CRMs are known to provide automation tools to handle small, day-to-day tasks such as follow-ups, data entries and reminders. With automation, businesses are free to tackle more complicated issues such as closing deals.

Pipeline Management

To help with forecasting and productivity, CRMs provide tools to visualize your entire sales pipeline. As a result, businesses are able to track leads much more easily, helping them close deals much faster.

Analytics

CRMs come with a variety of analytical tools so that businesses can better understand their customers. Examples of these tools include sales trends, customer behavior data, pipeline reports, etc.

Data Security

Since CRMs hold a lot of sensitive information, it’s important to ensure that they have adequate security measures. Typical measures include encryption, user permissions, data backups, and more.

Using a CRM can provide a lot of benefits to companies, such as:

Data Consolidation

The centralization of customer data means that SaaS companies can easily access and update customer information, bolstering data accuracy as well as decision making.

Reduced Chances Of Errors

With the help of automation, CRMs can automatically enter data without any manual input, reducing any chances of errors that would’ve occurred had the process been manual.

More Accurate Forecasting

Due to the consolidation of data both past and present, CRMs can predict future scenarios with much greater accuracy, helping businesses plan ahead.

Promoting Collaboration

Since CRMs bring everything under one umbrella, there are greater chances of collaboration between various teams.

Personalization Of Customer Interactions

To promote customer loyalty, CRMs retain all kinds of information about customers, helping businesses personalize customer interactions.

There are a lot of CRMs on the market, each with their own various perks. Because of this, picking the right CRM can be a very tricky thing for anyone, even SaaS firms. That being said, it’s best to follow a few general steps when choosing and evaluating CRMs.

Step 1: Define Your Core Needs And Requirements

First of all, try and look at what you need the most right now. Is it tracking leads or customer communication? Answering simple questions like this right off the bat can save you a lot of headaches later down the line because CRMs come in all shapes and sizes. The last thing you want is to be saddled with a CRM that has all the fancy features but none of what you actually require.

Step 2: Consider Overall Budget

Next, you’ll have to allocate an appropriate budget for the new CRM. You don’t need to break the bank with this but do keep in mind that a new CRM is not just a tool—it’s an investment, so be sure to treat it as such.

Step 3: Research CRM Options

Once you have your requirements and budget mapped out, it’s time to make a list of all possible CRM options. Try and include the CRMs that fit your budget as well as your needs. This way, you can separate the wheat from the chaff and end up with a reasonable list.

Step 4: Further Evaluation And Shortlisting

Now that you have a list on your hands, it’s time to narrow it down further until you end up with the CRM you want. Consider additional criteria such as integrations, ease of use, etc. To make your decision easier, you can request demos or read user reviews to get an idea of what the software is like practically.

SaaS CRM Software: Market Trends And Expert Insights

According to TechNavio’s reports, SaaS CRMs are projected to increase by USD 112.63 billion, at a CAGR (compound annual growth rate) of 18.1% between 2024 and 2029. This trend is due to, in part, the affordability, flexibility and ease of use provided by SaaS CRMs. However, the market is not without its obstacles, such as the increasing concerns for data security, especially with the increase of cyberattacks as of late.

To counteract this, many SaaS companies are focusing on data security, providing strong security measures and offering different pricing models that cater to different consumers. Despite the challenge posed by cybersecurity, the market for SaaS CRMs is growing, with a recent example being retailers introducing cloud computing into their businesses.

What Do Real Users Have To Say About SaaS CRMs?

The general consensus on forums such as Reddit is that CRMs can be helpful for running a SaaS business model, as long as you know what your requirements are. Many users caution against instantly jumping into any CRM and advise newcomers to take their time to explore all their options.

At the end of the day, having all your data centralized on a single platform can be a real game-changer—provided you’re using it properly. If used right, CRMs can be a game changer for many companies, helping them do a lot more in less time.

If you’re still on the fence about CRMs in general, then head over to the rest of our website and see the different kinds of CRMs that can do all kinds of things for SaaS companies.