How Do I Develop A CRM? What Are the Benefit Of CRM? How Much Does It Cost TO Build Custom CRM Software? These questions have grown quite common recently with the rise in demand for CRM solutions.
But what is this all about?
Well, the CRM Software market is one of the world’s largest, as it is expected to reach over $80 billion in revenues by 2025. And the reason behind the explosive growth of CRM is also very clear.
These solutions have been helping businesses across the world, large and small, expand their operations, capture more customers, create a better relationship with their clients, and streamline everything.
For example, it is seen that Customer Relationship Management software can boost conversion rate by 300%. While it is true that CRM software is in no form “cheap” one thing everyone can agree on is, they are worth every penny you spend on them as they pay back times 10.
For ROI of a CRM software system can exceed 245%. This means the average ROI of a CRM is $30.48 for every dollar spent. This is the reason why 91% of companies with 10+ employees use a CRM.
These massive rushes toward CRM have inspired a lot of other corporates and Startups to develop CRM solutions of their own. And if you are one of these people, who want to learn more about CRM software and the cost related to it, before investing, this blog is for you.
Here, we shall be discussing everything and anything related to CRM and its development cost. Therefore, with this being said, let’s get right into it:
What is CRM Software Development? Why You Need It?
What is custom dynamics CRM development?
The term CRM itself stands for customer relationship management. This is a software system that aids business teams in managing their various forms of communication and relations with customers.
CRM helps business optimize their operations in order to create better leads and loyal relationships. This software is highly complex and can be divided into different levels. They can be seen as a combination of databases, spreadsheets, and applications that all work together to deliver value.
There are various ways you can acquire a Affordable CRM for Small Business. For instance, you can choose from ready-made solutions like:
- Zoho CRM
- Salesforce Sales Cloud
- Bitrix24
- Pipedrive
- NetSuite CRM
- open source CRM
…or you can choose custom CRM development which will give you your own tailor-cut solution.
These systems connect all the relevant data and information from various platforms in one place for better visibility. This means, the business can access the data like form fills, calls, emails, text messages, meetings, documents, quotes, purchases, and tasks associated with each lead and client in one place.
This is one of the reasons why every company wants to invest in CRM development services. They have helped many companies generate millions of dollars with improved sales. But companies aren’t the only ones benefiting from CRMs.
For this software also helps businesses deliver better values to the customer, improving the overall experience. Customer Relationship management systems are as good as they sound.
Nevertheless, depending on the use and scale, there are different forms of CRM solutions. We shall be discussing the same in the section below:
Types of CRM Software
Every company has its own needs when it comes to CRM solution development. Accordingly, different forms of CRM are available in the market to fulfill these needs. In this section of the blog, we shall be going through the same.
These are, as mentioned below:
Collaborative CRM System
As the name suggests, a collaborative customer relationship management system helps business track their interactions with clients across various platforms including phone, email, web pages, and social networks. Plus, it also brings all of the data to one place for easy access.
Strategic CRM System
It goes without saying to maintain long-term relationships with customers; teams need to conduct an in-depth analysis of various areas. And this form of CRM, known as a strategic CRM system, helps them do the same by giving them easy access to customer data.
Operational CRM System
An operational CRM system is a bit different from the past two we discussed. With help of various technologies including AI and ML technologies, this system automates sales, marketing, and customer service processes, helping save time and achieve the short-term goal faster.
Analytical CRM System
The type of customer relationship management software is strictly built around analytical operations. As such, an Analytical CRM system helps businesses analyze customer behavior from the data collected through Operational CRM.
These were the four major forms of CRM software. Since CRM Software Development Cost is one of the major areas of focus of this blog, you should know the cost to build a custom CRM software also depends on the type you choose.
We shall be discussing cost further in detail, as of now, let’s look at why you should invest in Customer Relationship Management.
Why Use Customer Relationship Management Software?
Everyone is using best CRM for economic development. In fact, 91% of companies in the market use some form of CRM software. And there are plenty of reasons to do so. In this blog, we shall be exploring some of these reasons.
These are, as mentioned below:
- One of the major benefits of this solution is that it synchronizes the entire customer-related data in one place, making it easier and quicker to access.
- Customer relationship management systems bring together data from different platforms to one point which can be accessed by different departments readily.
- With analytics tools, businesses gain an amazing insight that helps them improve customer retention rates and increased profits,
- With various in-built tools like scheduling, a CRM system helps a business streamline their business to improve productivity.
- Operational CRM systems automate a lot of repetitive tasks which helps save time and achieve short-term goals faster.
- CRM through its many abilities and features, help the company boost its conversion rate up to 300%.
These are just a few of the benefits that you get by using CRM software in your business. Nevertheless, the ones mentioned above give you a good idea of how the solution can help your business grow.
Core Features of CRM Software
Features are an essential part of CRM SaaS Product Development. As it is only with the set of right features that a business will be able to use the software to its full extent.
Therefore, it is very important to add some important features to this solution. Here, we shall be looking at core features that you should include in different parts of CRM.
Sales Team Features | Market Teams Features | Customer Support Team Features |
| Account and Lead Management | Marketing Campaign Management | Help Desk & Agent Console |
| Advanced Sales Analytics | Customer Segmentation | Knowledge Base |
| Sales Planning & Forecasting | Marketing Analytics | Service Analytics |
These were the three basic components of the CRM that enable effective operations as well as their features which help the business achieve their goal. As such, features are one of the top factors which affect the CRM software cost.
Moving on, we shall be discussing the average cost of developing a market-leading CRM in the next section.
Average Cost to Build Custom CRM Software
Have you ever wondered, why you can’t find the cost to build custom CRM software on Google? Well, there is a very good reason behind it.
There is no fixed cost of CRM development. Rather the total cost highly depends on various factors which are involved in development. And thing is, in every project a unique set of factors affect the cost. For that reason, it is next to impossible to predict the accurate cost of Customer relationship management software.
But all is not lost. While accurate custom CRM development cost estimation isn’t possible, we can give you an average range in which your project development cost might fall.
The average cost to develop a CRM software may range from $94,000 to $650,000.
Now, if you are looking for more accurate estimation, it is highly recommended that you consult a CRM development company that will be able to give you a cost quote based on your business needs, personal preferences, and other factors.
It was mentioned a few times that there are various factors that can affect total CRM development cost. Well, in the next section of the blog, we shall be discussing these factors.
Factors That Affect Cost to Custom CRM Software
Software development is easier said than done. There are a lot of variables and complex process which takes a lot of time and effort. But most importantly, all of it can highly affect the development cost of a project.
Therefore, to give you a better idea of what you should be expecting, we shall be discussing major factors briefly. These are, as mentioned below:
CRM’s Modules
Speaking of which, one of the first factors which can affect the cost to build custom CRM software are modules.
Well, there are different modules in a CRM development. These are essential components that enable the software to perform various important tasks. You might need some of them and might not need some.
Regardless, all of them carry a cost with them. So, the average cost of modules from different parts of CRM is, as mentioned below:
Area | Module | Cost |
| Customer Support
| Help Desk module | $9,000– $12,000 |
| Knowledgebase module | $2,000– $6,000 | |
| Service Analytics module | $5,000 – $10,000 | |
| Marketing
| Campaign management module | $8 000 – $15 000 |
| Client segmentation module | $5,000 – $10,000 | |
| Analytics module | $50,00 to $10,000 | |
| Sales
| Account and lead management module | $8,000 – $12,000 |
| Analytics module | $3,000 – $6,000 | |
| Forecasting & planning module | $2,000– $6,000 |
These tables contains all the information you need to know about the different modules and the cost related to them.
Type of CRM
As we discussed there are four different types of CRM solutions each of them offering different solutions. So, it goes without saying that development cost for them is also different.
Let’s look at the average cost for each of them:
- Analytical CRM System Development Cost – $100,000– $650,000
- Operational CRM System Development Cost – $95,000– $600,000
- Strategic CRM System Development Cost – $80,000– $500,000
- Collaborative CRM System Development Cost – $85,000– $450,000
Complexity
Well, the complexity of solutions is one of the biggest factors which can affect it CRM Software Development Cost.
The reason is that a simple CRM system is very easy to develop and it doesn’t require much time either.
On the other hand, complex CRM software requires a lot of effort from a software development company as they have to put in more resources, a larger team, and a longer development time.
This makes the development cost surge quickly. When you build CRM software cost affecting factors also include this, so keep it in mind.
Nevertheless, the cost to build Custom CRM software of different complexities is, as mentioned below:
- Simple CRM Software Development Cost $80,000– $250,000
- Mediocre CRM Software Development Cost $200,000– $450,000
- Complex CRM Software Development Cost $400,000– $690,000
Developer’s Location
The cost to hire software developers highly depends on their location and this in turn affects the total development cost.
Therefore, let’s look at what is the average cost to hire software developers in different parts of the world.
Hire Software Developers Cost In North America – $ 250 to $ 500 per hour
Location | Hourly Cost |
| USA | $ 220 – $ 330/HR |
| Mexico | $ 150 – $ 250/HR |
| Canada | $ 180 – $ 230/HR |
| Panama | $ 120- $ 180/HR |
Hire Software Developers Cost In South America – $20 to $50 per hour
Location | Hourly Cost |
| Brazil | $ 35 – $ 45/HR |
| Argentina | $ 25 – $ 35/HR |
| Peru | $ 25- $ 35/HR |
| Chile | $ 35 – $ 50/HR |
| Bolivia | $ 30 – $ 45/HR |
| Venezuela | $ 20 – $ 35/HR |
Hire Software Developers Cost In Europe – $220 and $330 per hour
Location | Hourly Cost |
| Germany | $100 – $ 150/HR |
| Italy | $ 150 – $ 250/HR |
| France | $ 180 – $ 250/HR |
| United Kingdom | $ 250 – $ 300/HR |
| Ukraine | $ 80 – $ 150/HR |
| Netherlands | $ 120- $ 200/HR |
| Switzerland | $ 120 – $ 220/HR |
| Greece | $ 80 – $ 160/HR |
| Poland | $ 35- $ 80 /HR |
Hire Software Developers Cost In Africa – $50-80 per hour.
Location | Hourly Cost |
| South Africa | $ 45 – $ 80/HR |
| Morocco | $ 30 – $ 60/HR |
| Ethiopia | $ 35 – $ 75/HR |
| Madagascar | $ 45 – $ 60/HR |
| Cameroon | $ 40 – $ 65/HR |
| Liberia | $ 50 – $ 65/HR |
Hire Software Developers Cost In Asia – $20 to $85 per hour.
Location | Hourly Cost |
| India | $ 25 – $ 55/HR |
| Japan | $ 55 – $ 65/HR |
| Singapore | $ 65 – $ 85/HR |
| Philippines | $ 30 – $ 45/HR |
| South Korea | $ 35 – $ 55/HR |
| Malaysia | $ 30 – $ 60/HR |
| Hong Kong | $ 45 – $ 65/HR |
Method to Hire Software Developers
Apart from the location of the developers, the method you hire software developers can also affect the cost.
Luckily there is more than one way of hiring developers. These are, as mentioned below:
- Hire Part-Time Developers – $8-$75/hr
- Assemble in-house team – $50,000 – $120,000/Salary
- Outsource work to Software Development Company – $25-$45/hr or $100,000 to &$ 600,000
- Hire Freelancers – $60-$100/hr
These are the different methods you can use to hire developers as well as the cost associated with them.
Read the blog- How Much Does It Cost to Develop An Mobile App in 2022?
Develop A CRM Software At an Affordable Cost
CRM software or customer relationship management software has been changing the world of business for the better helping companies generate millions or even billions in sales profit. Now, it goes without saying that everyone wants a piece of this cake.
However, the cost to build custom CRM software often bothers businesses as it can be a heavy investment. If this is what’s bothering you, we have a solution.
Nimble AppGenie is a market-leading CRM Software Development Company based in the United States of America offering amazing CRM development services.
What makes us stand apart of other CRM development companies in USA is we offer amazing services at affordable prices, so you don’t have to think twice before investing in your own custom solution.
Reach out to us today.
FAQ
The cost of building custom CRM software varies depending on factors like complexity, features, customization requirements, development time, team size, and geographic location. It can range from tens of thousands to hundreds of thousands of dollars.
Factors that influence cost include the number of user roles, integration with other systems, data migration needs, reporting and analytics requirements, UI/UX design complexity, security features, scalability, and ongoing support and maintenance.
Yes, building custom CRM software typically requires a dedicated development team consisting of software developers, UI/UX designers, database specialists, and quality assurance engineers.
Yes, one of the advantages of custom CRM software is the ability to tailor it to your unique business processes and requirements. Customization ensures that the CRM aligns perfectly with your workflows and goals.
The development timeline depends on factors like the complexity of the CRM, features, customization needs, team size, and development approach. On average, it can take several months to develop a custom CRM.
Yes, custom CRM software can be integrated with other systems like marketing automation tools, email clients, accounting software, customer support platforms, and e-commerce platforms to streamline data and workflows.
Besides development costs, you should consider ongoing costs such as hosting and infrastructure, maintenance and support, software updates, data backup and security measures, and potential training or onboarding expenses.
Yes, custom CRM software can be designed to scale with your business. It should be built on a flexible and scalable architecture that allows for future enhancements, additional features, and increased user capacity.
Yes, data migration from an existing CRM to a custom CRM is possible. The complexity and cost of data migration depend on the amount of data, data structure, data quality, and compatibility between the systems.
Yes, providing training and support to users is essential for successful adoption and optimal use of your custom CRM software. Budget for training sessions, user documentation, and ongoing support to maximize its value.
Niketan Sharma is the CTO of Nimble AppGenie, a prominent website and mobile app development company in the USA that is delivering excellence with a commitment to boosting business growth & maximizing customer satisfaction. He is a highly motivated individual who helps SMEs and startups grow in this dynamic market with the latest technology and innovation.
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