Rating of 4.5
Overall Rating
The bottom line: Monday.com is a work operating system (Work OS). Due to the highly customizable nature of their platform, organizations of any size can create the tools and processes they need to manage every aspect of their work, including the management of customer relationship.s. Simply put – it is a spreadsheet on steroids.
Best for: Small to mid-size businesses that would like to create a work operating system and CRM tailored to their business, without the high price tag associated with Salesforce.
Monday.com’s pricing starts out at $10/seat/mo. for their Basic plan, with a minimum of 3 seats (licenses). For a nominal $30/mo, you gain far more than many other CRMs that may charge $50-75+ per seat.
Core Functions
As previously mentioned, Monday.com is a work operating system (Work OS). You may be somewhat familiar with the term if you compare it to your computer’s operating system or your phone’s operatingg system. A work OS is the all-inclusive setup for managing a business’ work environment. This environment may include a variety of departments and workspaces (sales, marketing, HR, etc.), and within each function, there may be an array of data and information – everything from projects, tasks, and performance metrics to accounts, contacts, and their status within a sales pipeline.
Monday.com can be essentially anything a customer wants it to be. With different databases (boards) displaying information about a particular item type (e.g. contact, lead, task, etc.) within a row (pulse) that contains a lot of different details (columns). However, it is commonly used by customers at a minimum to achieve the core functions of a CRM:
- Lead Management
- Sales Pipeline
- Nurturing Relationships
Within Monday.com, users can effectively capture leads, track their sales pipeline, and manage contacts. Using this data, they can then, monitor key performance indicators, generate insights, and forecast revenue. Now, while every businesses’ business plan may vary, these are generally areas that are of great necessity to individuals working in the real estate industry. Whether you are in investor that is looking to manage your leads for wholesaling or a real estate agent needing to manage cadences for protective buyers and sellers, these core functions can (and have been) easily maintained within Monday.com’s platform.
User Experience
Monday.com has a beautiful user interface that makes their platform easy to use without a steep learning curve for end-users or admins. Their layout is comparable to an Excel spreadsheet format that man users have grown accustomed to using over the years, and their drag and drop interface makes making changes and updates a breeze.
Automations
One of the most powerful features of any CRM will be your ability to create automations. With Monday.com, you can not only automate changes like status updates and notifications, but you can also integrate with other technologies, like email, marketing and social media tools to make communication with customers a seamless process.
Budget
Whenever we evaluate CRMs or SaaS (software as a service) platforms in general, we are always cautious about businesses that offer a very low-cost tiered model. In many cases, these platforms tend to hook users and require them to increase their cost drastically over short-time period before they are able to realize any value. With Monday.com, that isn’t the case.
Monday.com offers a very robust platform without the high price tag found by competitors. Additionally, the models are very generous in terms of the features they do offer subscribers to their Basic and Standard users. With Monday.com, even their Basic package provides access to an unlimited number of items and boards – all at the lost cost of $10/mo/seat, if priced annually. You can’t get that anywhere else. In the event that you do desire to upgrade to their Pro plan for access to formulas, a plethora of automations and integrations, and more, that comes at a mere cost of $24/seat/month. I don’t know about you, but that value you get from that compared to the value of some of your other businesses expenses (especially the price of transportation costs this past year), that is a steal.
Scalability & Portability
Monday.com has a very easy to use importing and exporting function that makes data migration a mindless task. Whether you are currently working off of spreadsheets or are using a different CRM at the moment, you will be able to port all of your data into Monday without a problem. As we discussed earlier, we find that Monday.com’s CRM extremely comprehensive, causing it to be a valued long-term solution for many small to mid-size businesses. However, if you are looking to migrate your data to another platform, it should be relatively painless, as Monday.com allows you to easily export your data into spreadsheets or complied zip folders.