Not only does CRM help you keep track of your customers and their interactions with your business, but it also allows you to streamline your sales and marketing efforts.
But even the most robust CRM system can fall short if it doesn't have payment integration capabilities. In this blog post, we'll explore the downsides of not having payment integrations in your CRM and why you should consider adding them to your current system.
CRM Payment Integration refers to the integration of a payment gateway into a customer relationship management (CRM) system. This allows businesses to manage and process customer payments directly from within the CRM system, rather than having to use a separate payment processing platform.
There are many popular companies that offer CRM payment integration. Some examples include:
Without a CRM system with payment integration, your business may experience challenges, such as:
One of the biggest downsides of not having payment integration in your CRM is the lack of efficiency in payment processing. Without this feature, your sales team has to manually enter payment information into a separate system, which not only takes up valuable time but also increases the risk of errors.
With payment integration, your CRM system can automatically process payments, eliminating the need for manual entry and reducing the risk of errors. This means your sales team can spend more time focusing on selling and less time on administrative tasks.
Another downside of not having payment integration in your CRM is the limited visibility you have into your customers' purchasing behavior. Without this feature, you may not be able to track which products or services are selling well, which may limit your ability to make informed business decisions.
With payment integration, your CRM system can provide you with detailed information about your customers' purchasing behavior, including which products or services are most popular and which ones are not selling well. This information can help you make data-driven decisions that can drive your business forward.
Manually tracking invoices and payment status can be a time-consuming and error-prone task. Without payment integration in your CRM, it can be difficult to keep track of which customers have paid and which ones have not.
If the business doesn’t know who hasn’t paid, they might not be able to do proper follow-ups and set up auto-campaigns. They might also fail to disconnect the access of users whose payments failed to come through or who have stopped paying.
With payment integration, your CRM system can automatically update the invoice and payment status, making it easy to see which customers have paid and which ones have not. This can help you follow up with customers who have not paid and ensure that you get paid on time.
Without payment integration in your CRM, it can be difficult to identify opportunities for upselling and cross-selling to your customers. This can limit your ability to drive additional revenue and grow your business.
With payment integration, your CRM system can provide you with detailed information about your customers' purchasing behavior, which can help you identify opportunities for upselling and cross-selling. For example, if a customer has recently purchased a product or service, you may be able to upsell them on a complementary product or service.
If you offer subscription-based products or services, it can be difficult to manage and track payments without payment integration in your CRM. Without this feature, you may have to manually track when payments are due and follow up with customers who have not paid.
With payment integration, your CRM system can automatically manage and track subscription payments, making it easy to see which customers have paid and which ones have not. This can help you follow up with customers who have not paid and ensure that you get paid on time.
A CRM with payment integration can provide a variety of benefits for your business, including:
Having payment integration in your CRM can significantly improve the capabilities of your CRM system and help you streamline your sales and marketing efforts. It can help to reduce administrative tasks, improve customer experience, and drive more revenue for your business.
Despite their obvious benefits, not many CRM systems today have robust payment integration features. CRM companies that do support payment integration are still most often focused on invoices and not self-check-out users, for example.
Some of the reasons why these companies don’t have more robust payment integration features:
As a robust HubSpot payment integration platform, DepositFix helps businesses that want to benefit from payment integrations. It offers a variety of features that can streamline your payment processing and improve your CRM system’s efficiency.
DepositFix can synchronize Stripe and PayPal transactions to HubSpot fields. You can also generate HubSpot timeline events. Single payments and subscriptions are also available. Other features include:
And more. Overall, DepositFix allows deep payment integrations with various CRM systems with powerful features for companies that need visibility to payments.