Last year, corporate tech spending reached dizzying heights as businesses spent 4.24 trillion USD on computers, data center systems, and apps. In 2022, experts predict this spending will climb to 4.5 trillion worldwide.
With the ongoing pandemic, many corporate HQs are running remotely, and capital market events are virtual, if not a hybrid of in-person and digital options. This new normal means you need to invest in tech to ensure you’re matching the demands of the digital age.
While your company may only spend a fraction of that whopping $4.5 trillion this year, your portion may still take up a substantial amount of your budget. And there’s only so much to go around.
You’ll have to justify your update to a new investor relations CRM, even if your team desperately needs the update.
So, what’s the ROI on this essential software? Let’s find out.
What’s the ROI on CRM?
Your ROI is only as good as your software. If you invest in cheap tech that cuts corners, you may not see an ROI you like. Bad tech companies deliver the bare minimum support with clunky or complicated software.
You can avoid that by finding a trusted partner for investor relations that fine-tunes its IR CRM software and delivers tailored solutions that reflect your objectives and budget. This tech consolidates data across multiple platforms to streamline your workflow without risking your bottom line.
The result? A solid ROI on investor relations CRM that pays for itself months after you upgrade.
Companies that make the right choice with their investor relations consulting firm can gain considerable ground on their CRM. According to Nucleus Research studies, the average ROI is $8.71 for every dollar spent.
What to Look for in IR CRM Software
Crunching those numbers, the more you invest, the more you gain. But there’s one small caveat—cost doesn’t always equal value.
To ensure you pick investor relations tools that justify the expense, check out these tips. The following list will help you recognize superior IR solutions when you see them.
Look for Cloud-Based Software
Legacy software installed on devices creates technology silos that disrupt interoffice communication and actively harm your investor relations strategy.
A cloud-based program, on the other hand, tears down these silos, making it possible for anyone (with the right logins) to access critical information anywhere, anytime. If this cloud-based tech consolidates your data into one program, you’ll see your productivity improve.
Know What Quality CRM Software Can Do
IR CRM is scalable to your needs—whether you’re a fledging IPO, a growing SPAC, or an established name on the Street.
However, the best investor relations tools come in an easy-to-use package that helps you with the following tasks:
- Targeting and attracting the right shareholders
- Driving stakeholder collaboration
- Streamlining deal pipeline management
- Tracking overall market performance
- Following market sentiment and volatility
- Understanding your shareholder composition
- Reporting to management and C-Suite
- Measuring your IR program
Choose Experience
Quality IR intelligence comes from an established firm. They have a proud reputation for helping a broad range of companies improve their IR program. Look to companies that have a long history in the business.
Alternatively, you can shadow companies with IR programs that you admire. GM, Fifth Third Bank, and BlackRock will lead you to a big name in IR solutions.
The Takeaway:
You need to justify every expense when it comes to your IR program. Thankfully, the right CRM software will insulate your bottom line. Follow today’s tips to find software that delivers on a substantial ROI.
