Your CRM Software Provider Doesn’t Want You to Know This
In this video, I reveal some of the secrets that CRM software companies don't want their users to know. As someone who recently started my own CRM company CoPilot CRM, I know how these companies operate and what they're really after. First of all, most CRM software companies are focused on financial arbitrage, aiming to optimize for profit to appeal to investors looking for an exit within 3-5 years. They do this by cutting support and research and development while still maintaining a strong user base, knowing that it's difficult for users to leave their CRM due to the pain of switching over.
Secondly, many CRM software companies don't want users to use A.C.H, as they don't make as much money on it compared to credit card processing. However, A.C.H has much lower transaction costs, and users should be aware of how much they're being charged for credit card processing fees.
Thirdly, referral fees are often paid to influencers who promote CRM software, which is not disclosed to users. These fees incentivize influencers to promote the software, even if it's not the best option for the user.
Fourthly, credit card processing is where CRM software companies really make their money. They can lock down the software and require users to use their payment processor, charging them significant fees that far outweigh the subscription cost.
Lastly, remote support, which has become more common due to COVID-19, has created a disconnect between the support team and the development team, leading to a decline in quality of support.
Overall, users should be aware of these practices and take them into consideration when choosing a CRM software.