Mike Andes reveals five things CRM vendors don't advertise: they chase quick exits for investor returns, they make more money pushing credit cards over ACH transfers, influencers earn $700 to $1,000 per sign-up, and customer support has gotten worse since companies went remote.
March 8, 2023
$700 to $1,000 per sign up
I'm going to share with you the five things that your CRM software package does not want you to know. Number one, it's the financial arbitrage. Most of them have investors and venture capital and they're simply trying to optimize for profit over the next one to two years so they can go sell the company to someone else. Number two, ACH costs them much less than their credit card processing and that's why they push you towards using credit cards instead of just using where they transfer money between bank accounts. Number three, the referral fees that you're seeing with influencers, they're typically getting 700 to $1,000 per sign up that they get. So when they say the software is so great, just keep that in mind. And they're probably getting also an ambassador fee on top of that just to say that they use their software. Lastly, the support going remote. That's why support is so abysmal. A lot of these CRMs is because when Covid hit they all canceled their leases. They don't have any in person office and there's definitely a deterioration of the culture and the support of their software.
