Small and midsize businesses (SMBs) are a growing source of revenue for software vendors of all sizes. Many enterprise software vendors have found that the market for enterprise software has become saturated. At the same time, SMB's have increased their investment in technology to satisfy customer demands, control costs, and meet new government regulations.
These market dynamics have resulted in CRM vendors offering CRM software solutions that are better suited and priced for the SMB market.
While SMB's today have the opportunity to improve their competitive edge with top notch CRM software, they also encounter complex software evaluations and sophisticated contract negotiations.
Outlined below are ten insider tips to negotiating a better deal with your CRM software vendor.
1) Do an RFP - Protect Yourself from Overbuying
2) Workd with atleast 2 Credible Vendors - Don't Narrow Contenders too Fast
3) Consider the Entire Package - Hardware, Software, Maintenance, and More
4) Negotiate Future Expenses - Limit Fee Increases
5) Clarify the Fine Print - Define Usage Rights
6) Do Your Research - Use all the Available Free Research Tools
7) Serve as a Reference - Your Endorsement is Gold
8) Beef-up Your Deal Negotiation Skills - Win Against Polished Sales Pros
9) Negotiate the Hidden Costs of Hosted CRM Solutions - Uncover the True Cost
10) Think Ahead - Lock in Price Discounts
You should know your advantages before negotiating with a CRM software vendor. Market dynamics have created an ideal CRM software buying opportunity for small and mid-size businesses. SMB's have access to better software solutions, at better prices, than ever before.
In today's competitive market, CRM vendors are willing to negotiate. As you enter into negotiations use the tips and don't forget--your vendor's sales plan depends on revenue from companies just like yours.
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