CRM cost consists of more than few components. There are various ways we can define and classify it. Most of the people think that CRM subscription or CRM software cost that we pay is the only cost incurred to implement CRM successfully. However, we can classify the cost of CRM in following two ways:

External –  CRM Cost

Also known as hard cost. This is the amount you pay externally for CRM software cost, CRM subscription, CRM Implementation Cost, CRM Training,  and CRM Customisation Cost. Even the cost paid to CRM Consultant is also considered as External Cost.

Internal – CRM Cost

Also known as soft cost. This is the cost (or deemed cost) that you incur inside your organisation. Internal cost is not paid in hard cash, but you spend resources to achieve CRM Success. Examples of Internal CRM cost is efforts required for internal training, extra initial efforts required for motivating and handling objections of the team members, Cost of initial loss of productivity due to new process adoption.