A Customer Relationship Management (CRM) platform is an indispensable tool for businesses today. It is a tool that centralises customer data, streamlines sales processes and provides a comprehensive view of customer interactions. It helps businesses identify potential clients, attract customers, record critical lead information and map distinctive customer journey patterns. Studies have shown that organisations that fully utilise CRMs have reported 23% higher lead conversion than those that do not, highlighting their impact on business growth.

A CRM system is often the first major technology investment for businesses looking to scale. According to a survey conducted by Freshworks, 94% of tech businesses and 71% of small businesses have a CRM system in place, and with its implementation, they saw their sales revenue increase by 21-30%. This success is driven by CRM’s ability to target different audiences, automate lead generation, proactively manage contacts and strengthen relationships.

Without CRM, businesses risk losing valuable customer data, missing follow-ups, and struggling with inefficiencies. These gaps not only slow down growth but also make it difficult to scale operations, hindering their ability to compete in a global marketplace where precision, agility and data-driven decision-making are essential.

Yet as businesses expand and customer relationships become more intricate, relying solely on a CRM system can pose significant challenges. For instance, 48% of sales leaders report that their CRM fails to meet their needs, providing outdated views of customers. This is particularly relevant for Nepali B2B companies, where CRM adoption is still new and evolving. As they look to scale, businesses must move beyond a CRM-first approach to adopt a comprehensive tech stack that drives sustainable growth.

Why CRM Platforms Alone are Not Enough

While CRM systems are essential, they are not a complete solution for all business strategic needs, especially in a market where customer expectations are rapidly changing. Many Nepali B2B companies rely entirely on CRM platforms to manage both their operational and strategic needs. This approach, while understandable for businesses in their early stages, limits their ability to adapt, innovate and grow in sync with evolving demands, posing challenges as they expand and their needs diversify.

The reliance on CRM alone prevents businesses from leveraging other essential tools that drive growth, improve efficiency and enhance competitive edge in areas like marketing automation, analytics and personalised customer experiences. Nepali companies operating on a single CRM platform struggle to compete with international counterparts who integrate CRM with other specialised tools tailored to different stages of the customer journey. This gives them an edge in efficiency.

Part of this challenge stems from a lack of awareness about complementary technology solutions available in the market. Without access to additional tools, B2B marketers in Nepal often face difficulties in areas where their competitors are increasingly excelling such as customer engagement, data integration and delivering seamless customer experiences. For these reasons, Nepali B2B companies must recognise that a well-rounded tech stack—beyond just CRM—is essential for sustainable growth and global competitiveness.

Choosing the Right Tools

It is crucial for Nepali B2B companies to distinguish between platforms that are essential for survival and growth versus those that enhance efficiency and competitiveness. The choice of platform should align with a company’s specific goals and growth stage. This clarity will help businesses understand the “need-to-have” platforms that are essential for growth, support core business processes and enable scalability; and the “nice-to-have” platforms that enhance productivity, optimise operations and provide competitive advantages.

Nepali B2B companies can benefit greatly by implementing platforms beyond CRM. Here are some scenarios for Nepali businesses at various growth stages:

● Early Growth Phase: For a Nepali B2B SaaS (software as a service) company in its early growth phase, understanding user behaviour on its website is crucial for improving user experience and optimising conversion rates. Tools like Hotjar provide heat maps that visually represent where visitors click, scroll and engage the most. This can help enhance the overall website experience for potential customers.

● Building Digital Presence: For agencies looking to target global prospects and improve search engine rankings, SEO tools like SEMRush are invaluable for discovering high-ranking keywords relevant to their industry. With the help of the tool, they can improve their search rankings and attract more organic traffic from international markets.

● Data-Driven Scaling Operations: For scaling companies like Growbydata, detailed insights into website performance are essential for making data-driven decisions. Google Analytics offers them insight into visitor demographics, traffic sources and conversion paths, which can refine their marketing strategies to focus on high-performing markets.

● Mature Growth Stage: For companies in mature growth stages like Fusemachines, maintaining customer engagement and nurturing leads is key to building strong relationships. Platforms like Constant Contact enable them to run targeted social media campaigns and personalised email marketing campaigns.

Why Companies Must Look Beyond CRMs

While CRMs provide an essential foundation, investing in a broader tech stack will empower Nepali B2B companies to achieve more sophisticated business goals and extend the capabilities of their CRM systems. Some of the core reasons to look beyond CRMs include:

● Creating a Holistic Digital Presence: While CRMs focus on managing customer relationships, today's marketing ecosystem requires a wide range of tools, from Content Management Systems (CMS) for efficient web content - like WordPress to Search Engine Optimisation (SEO) tools for organic visibility.

● Enhancing Customer Experience (CX): Optimising the complete customer journey is necessary, in addition to tracking interactions. Customer Data Platforms (CDP) tools like Segment can offer deeper insights into customer behaviours and preferences.

● Leveraging Data-Driven Insights: Specialised analytics tools or Business Intelligence platforms provide deeper data interpretation capabilities, enabling more agile marketing strategies and trend prediction for businesses.

● Embracing Multichannel Engagement: With customers interacting across various channels — from social media to email to chatbots, marketing automation platforms or omnichannel marketing tools such as HubSpot help deliver a unified message, enhancing brand recall and improving customer loyalty.

● Advancing Personalisation with AI and Machine Learning: While CRMs can store customer data, utilising AI and machine learning tools such as Marketo can lead to real-time, hyper-personalised content tailored to individual behaviours and preferences.

● Ensuring Security and Privacy: As digital marketing efforts become more sophisticated, so do the threats to customer data security. Implementing robust security measures and privacy management software helps safeguard data and ensure compliance with regulations while building customer trust.

Scaling and Adapting with Ease: 

● Lack of technical expertise: The successful implementation and use of advanced tools require proficient professionals which can be challenging and costly

● Integration complexity: The process of setting up and configuring new platforms can be complex, requiring careful planning and execution to avoid disruptions in business operations.

● Limited awareness and guidance: Many Nepali businesses struggle to identify which platforms are most relevant to their goals and growth stage. Business can begin with essential tools that offer the most immediate value and gradually expand the tech stack as resources and expertise grow.

Conclusion

As the global digital ecosystem continues to expand and evolve, relying solely on CRM platforms is no longer sufficient for sustainable growth. Nepali B2B companies must think beyond CRM and adopt a holistic approach to their tech stack. Building a versatile tech stack is not just an investment in technology but rather a commitment to future-proofing growth and ensuring your business stays competitive in an increasingly digital world.

Businesses are advised to start small, and focus on foundational tools like CRMs and analytical platforms to establish a strong base. Then, as business grows, they can layer in supplementary tools that enhance efficiency, personalise customer experiences and provide deeper insights. By doing so, Nepali businesses can compete effectively with international companies on a global scale.

(Karki is the co-founder at Korifi B2B, a full-service and arguably Nepal's first full service B2B Marketing Agency working globally and Munankami is B2B Business Development Strategist at Korifi B2B.)

(This opinion article was originally published in  December 2024 issue  of New Business Age Magazine.)