Benefits & Use Cases for CRM Payments (2023)

Does your company use  different software for CRM and payment processing , resulting in frequent errors and inconsistencies? The constant juggling between the two systems can be incredibly time-consuming and frustrating. Hi, my name is AJ! After selling my business for  multiple seven figures , I made it my mission to help other entrepreneurs  avoid the costly mistakes I made.  When I first started my company, I had  two separate platforms for processing payments and managing customer relationships . However, everything became efficient when we found a CRM system that could do both! Keep reading if you want to learn the  advantages that come with integrating a payment gateway into a CRM platform!









Key Takeaways







CRM payments keep everything related to payment processing and e-commerce in one location. 




A CRM with payment processing capabilities improves the buyer's journey. 




CRM payments allow sales teams to close deals faster and work more efficiently. 




CRM payments give your company access to in-depth sales pipeline data that can improve processes. 
















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What are CRM Payments? 



CRM payments are  tools that connect the following things  in one centralized location:  E-Commerce  Payments  Payment processing  Customer data  E-Commerce data  This centralized platform is  a more efficient alternative  than teams using a bunch of disconnected tools.  CRM payment processing ensures your company offers potential and existing customers a  streamlined and positive buying experience!















Benefits of CRM Payments for Your Customers 



There are  several benefits of CRM payment integration tools , including the following:  They improve the customer journey  They offer deeper personalization  They ensure a real-time payment process  They allow customers to pay with the method of their choice  Let’s look at these advantages closer! Improve the Buyers Journey  CRM payment processing revamps the buyer’s journey by offering a  seamless  and  integrated experience.  From browsing to checkout,  every step is interconnected , reducing hiccups and  ensuring a smoother transaction.  Further, When CRMs can process payments, it eliminates unnecessary steps. As a result,  the purchasing experience is more enjoyable and efficient , which ultimately leads to higher customer satisfaction. Deep Customer Personalization  CRM payment processing  promotes deep customer personalization  by gathering and analyzing data from each customer’s purchasing journey.  This information  helps businesses understand customer preferences  and behaviors. When teams understand individual preferences, it allows sales and marketing teams to  tailor marketing messages and offers  to align with each person’s unique needs.  The result is a  highly personalized buying experience that resonates with customers , fostering loyalty and encouraging repeat business.  Lastly, this personalization can extend to payment options, letting customers  choose their preferred payment method  (which I’ll detail later).  Real-Time Payments  Real-time payments are a  significant  advantage of CRM payment processing. For instance, when a CRM can process payments,  it immediately transfers funds , enhancing customer convenience.  This feature  eliminates the waiting period for payment clearance , providing customers with a quicker, more efficient purchasing experience.  Also,  real-time payments  allow for the following things to happen: Customers can see immediate updates to their bank accounts Customers can better keep track of their spending Businesses can access funds without any delays  Businesses can experience better cash flow management  Customers Pay With a Method of Their Choice  Allowing customers to  pay with their method of choice  is a significant benefit of CRMs that process payments.  For instance, being able to accept payments from various outlets offers  flexibility  and  caters to the diverse payment preferences  among customers. As a result,  the checkout experience is seamless  and frictionless for everyone! Further,  offering more payment gateways instills confidence in buyers,  knowing they can transact in a way that aligns with their financial habits and comfort.  As a result, this can lead to the following things: Increased customer satisfaction More customer loyalty Higher sales conversions When browsing through CRM providers, ensure you  choose one that can accept payment from various sources. 





















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Pro Tip #1: Always keep your customer's journey in mind when setting up CRM payments; this will ensure a seamless experience for your clients and keep them coming back.   
- AJ Silber









Benefits of CRM Payments for Your Business



Although CRM payment gateways are beneficial for customers,  they’re equally beneficial for your company!  Some of these advantages include the following:  Teams can close deals faster  The payment process is easier on sales reps  You ensure your team uses secure payment processors  You can access more in-depth sales pipeline and payment data  You can reduce the number of integrations your team uses  Here’s what you need to know about each of these advantages! Close Deals Quicker  CRM payment processors enable sales reps to  close deals faster  by streamlining the transaction process.  For instance, these payment gateways  allow for immediate payment processing , removing any delays that often happen with traditional payment methods.  Also, built-in payment integration within the CRM software eliminates the need for transferring customer data between platforms,  reducing the risk of errors and saving precious time.  Consequently,  this expedites the entire sales process , allowing reps to close deals faster! Easier on Sales Reps  CRM payment integration  significantly eases the workload on sales reps  by doing the following things:  Centralizing all customer data  Centralizing transaction information  Eliminating the need to switch between multiple platforms Allowing teams to gather and organize customer purchasing behavior  Also, a CRM payment gateway  automates many aspects of the payment process. As a result,  sales reps can focus on building relationships and closing deals  instead of getting overwhelmed by administrative tasks.  Further, a CRM payment integration can help eliminate manual errors in payment processing,  enhancing the sales team’s efficiency and reducing risk.  On top of that, real-time payment updates help sales reps  keep track of the sales pipeline and buyer behavior.  Lastly, the ability to offer customers their preferred payment methods directly within the CRM can smooth the sales process, enhancing the following aspects:  Customer satisfaction   Sales performance The organization of payment data  It’s More Secure  Typically, a CRM payment integration offers  better security  because it adheres to the  highest   industry   standards  for every transaction. As a result,  CRM platforms protect sensitive payment data  from breaches.  Further, CRMs employ  encryption methods to secure customer data   transfer  between different systems.  Also, since all customer and payment information is  centralized  and  stored in one platform,  CRM payment gateways  reduce the risk of data loss or misplacement! Lastly, a CRM payment integration often includes  fraud detection mechanisms , providing another layer of security to transactions. You’ll Get Full Sales Pipeline Data  Complete sales pipeline data is crucial for businesses because it  provides comprehensive insights into the sales process  and  customer journey.  With this information, companies can do the following things:  Identify bottlenecks Uncover sales opportunities  Make informed decisions to optimize conversion rates On top of that, the ability to track every touchpoint in the sales pipeline enables businesses to  personalize their approach. And when companies offer personalization,  it improves customer satisfaction and fosters loyalty.  Lastly,  comprehensive sales pipeline data can aid in accurate sales forecasting , helping organizations align their sales strategies with business goals! You Can Reduce the Number of Software Your Use Reducing the number of software your company uses can  streamline operations.  For example, eliminating the need to bounce back and forth between a CRM system and a payment gateway  boosts productivity and efficiency. Also, reducing the number of platforms teams use  reduces the probability of human error in data transfer  and communication lapses that could occur due to scattered information across multiple systems.  Further, investing in CRM with a payment integration can  significantly cut costs , as maintaining and subscribing to several software solutions can financially tax businesses.















A Note on CRM Autopayments 



In some instances,  implementing an auto-payment feature is beneficial.  For example, customers have  recurring payments  when companies offer a service like music streaming.  Fortunately, you can set up (most) CRM systems for auto payments.  When billing and payment gateways are directly integrated with a CRM system, teams can do the following things:  Set up recurring payments  Determine payment frequency  Add customer start and end dates for customers to pay invoices  Pause credit or debit card transactions  Access recurring payments via a contact card  Why are automatic payment gateways beneficial? Most  customers love being able to set up automatic payments  and forget about them.  Therefore, when you accept automatic payments,  you can take advantage of the convenience that most customers look for  in a business!  Is setting up automatic billing cycles beneficial for companies? Yes!  Some  advantages businesses can enjoy  when they create automatic payments include the following:  Greater predictability in cash flow  Better customer retention  More freedom to concentrate on tasks that aren’t related to preparing invoices  Put simply, accepting  recurring payments is beneficial for both your business AND its customers!

















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Pro Tip #2: Leverage the power of automation in your CRM payments. Setting up automatic payment reminders enhances operational efficiency and contributes to a timely and consistent cash flow. 
- AJ Silber









Top CRMs With Payment Processing 



Lastly, I’ll show you a couple of  examples of customer relationship management (CRM) systems with the best payment integration software.  These CRMs include the following providers:  HubSpot CRM Zoho CRM  While HubSpot or Zoho may not be your final choice in CRM provider, it’s still  helpful to understand the features and systems  available in the industry.  Here’s everything you need to know about each of these providers! HubSpot CRM  HubSpot is the  best CRM for B2B companies looking to secure and share one-time and recurring payments.  The price of HubSpot’s payment processor includes the following rates:  Credit and debit cards : Customers pay a flat 2.9% per transaction  ACH payment s: Customers pay 0.5% of the transaction amount (capped at $10 per transaction)  One excellent feature of HubSpot’s payment integration is the fact that  users can add one-time or recurring payment links inside personalized quotes!  Therefore, as soon as a customer receives your quote, they can pay immediately in a  self-service portal.  Another aspect that makes HubSpot’s CRM system unique from others is that  the CRM powers customer payments.  As a result,  customer profiles automatically update  when the following things occur:  A sales rep adds new contact information  The sales team records new communication details  Teams add quote details  Customers add payment information  Why is having CRM and payment history in one place beneficial for your team?  When everything is under one roof,  your team can easily personalize  things like:  Marketing efforts  Various aspects of the customer experience  Communication  Further, centralized CRM and payment integrations  make it easier to automate workflows.  On top of that, you can automate workflows related to where your customers are in the payment process.  As a result, you  promote more team productivity  and make it easier for sales reps to satisfy customers!  Check out our extensive HubSpot CRM review to learn more!






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Zoho CRM  Zoho’s payment processor tool is  best for businesses with worldwide operations.  With this CRM software, teams  ensure they remain tax-compliant  even when they bill and accept payments around the world.  Zoho’s pricing plan is as follows:  Free to $249 per organization per month (billed annually)  Custom plans for larger enterprises  Zoho is a  cloud-based CRM system  that offers subscription billing software.  With this payment integration, teams can do the following things:  Manage customer subscriptions  Use sales automation features  Automate recurring billing  Ensure invoices are tax-compliant (regardless of where you’re sending them) Set up billing cycles and payment frequencies for customers  Store customer credit and debit cards securely  Further, Zoho allows companies to collect payments online AND offline through  popular payment gateways , including the following:  PayPal  Stripe  Lastly, this CRM platform  allows you to   give customers access to their subscription information via a self-service portal! Take a look at our full Zoho CRM review !






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Final Thoughts on CRM Payments 



As you have seen,  ensuring your CRM can process payments is beneficial  for numerous reasons! The primary advantage of this feature is that  companies improve the buyer journey.  On top of that,  employees prefer CRM payments  because everything is in one location rather than spread out across multiple software.  Will your company use  Zoho  or  HubSpot  for payment processing? Let us know in the comments section!




The post Benefits & Use Cases for CRM Payments (2023) appeared first on Small Business Bonfire .