In the age of digital transformation, customer relationship
management (CRM) system is an essential tool for businesses to build and
maintain strong customer relationships. The global market for CRM is valued at
a staggering $80.55 billion in 2023, a figure that is set to rise significantly in the years to
come.
The Covid-19 pandemic has accelerated the demand for CRM,
forcing companies to look for new ways to connect with clients in a digital
age. As a result, the industry has witnessed a significant shift in CRM trends,
with companies seeking to improve the customer experience and streamline their
operations.
In this article, we will explore the top 10 trends in CRM
that are set to shape the industry in the years to come.
Top 10 trends in CRM
1. Artificial Intelligence
Artificial Intelligence is no longer a buzzword in the
business world; it is now an essential part of customer relationship
management. According to Salesforce, businesses are planning to increase their
use of AI by 47%, with a 40% increase in the use of CRMs.
AI has many applications in CRM, from automation to
communication tools and analytics. One of the most significant benefits of AI
is automation, which allows for effective project management and customer
handling.
With automated CRM systems, businesses can analyze customer
data and tweak marketing campaigns based on specific variables, thus improving
personalization. In addition, AI-powered communication tools like chatbots and
voice assistants can help keep communication channels open and clear customer
queries in real time.
2. Mobile CRM
The use of Mobile Customer Relationship Management (CRM) has
become crucial in sales. Sales representatives and marketers need up-to-date
information while they are on the move. This trend has made their work more
efficient and boosted productivity by 50%. They can access important business
information anywhere, which promotes teamwork and helps sales representatives
close deals more quickly.
In the future, as technology advances, we can expect to see
even more Mobile CRM options that work seamlessly across different platforms,
operating systems, and screen sizes.
3. Customer experience takes the center stage
Providing a seamless and personalized customer experience
has become a top priority for businesses, with 86% of buyers willing to pay
more for it. CRM technology can be instrumental in delivering this experience
by enabling businesses to host tools, boost their marketing efforts, and empower their customer service teams.
Convenience and competition are the two key drivers that can
enhance customer experience, with personalization being the key focus. In the post-pandemic
world, individualized experience is crucial in turning loyal customers into
brand ambassadors and gaining a positive reputation through word-of-mouth
marketing.
4. Personal relationship management with CRM
CRM systems are not just limited to managing customer
relationships, they can also help manage personal relationships. With the
advent of social media, networking, and personal branding, CRM systems have
evolved to cater to personal relationship management needs. It enables you to
keep track of important dates, stay in touch with your network, and get
insights on improving your relationships.
With CRM, you can manage your relationships with clients,
prospects, friends, and acquaintances to build stronger bonds and achieve
success in your personal and professional life.
5. Business mobility in CRM
The trend of business mobility in CRM has become essential
for sales activity. With the workforce becoming more scattered and buyers
demanding more, CRM has become a roadmap for success.
The pandemic has highlighted the need for enterprise
mobility, which requires a disciplined software system to manage remote
projects and ensure accessibility from anywhere. It's important to consider
robust security features, an intuitive interface, a multi-platform application,
and a redefined work ecosystem in both online and offline modes when choosing
CRM software.
Post-pandemic, the introduction of CRM systems has become
evident, and businesses across the marketplace have adopted the software to
establish comprehensive distributed teams.
6. The emergence of social CRM
Social media has become an integral part of people's lives,
with users spending an average of 147 minutes a day on social networks.
Recognizing the importance of social media, CRM systems have started
integrating social media channels to interact with the target audience. This
allows for quicker and more thoughtful responses to buyers' questions and helps
understand clients' attitudes towards the brand by analyzing their feedback on
products.
With access to data from LinkedIn, Facebook, Twitter, and
other platforms, marketing and sales teams can gain a clearer picture of their
target audience and strengthen relationships with both current and potential customers.
The growing popularity of social CRM is evident in the
success of businesses that have integrated social media into their CRM systems,
allowing them to stay ahead of the competition and enhance their customer
engagement.
7. Data reliance for smart business decisions
In today's business landscape, data unity has become a
crucial need. Marketers rely on data management tools to drive growth and
analytics-based reports to develop effective campaigns.
With the help of CRM efforts, businesses can manage data,
boost reports, and stay connected with their workforce through predictive
analysis and relevant data channels. CRM software is not only a successful
project management tool, but it also helps to gather potential data and modify
dynamic channels.
By leveraging potentially relevant data, businesses can make
smart decisions and improve user engagement and customer relations. In short,
data reliance is the key to success in making informed business decisions.
8. Team alignment for boom
Team alignment is essential for the success of any business.
When teams collaborate effectively, they can achieve up to a 200% increase in
business revenue. As businesses increasingly rely on CRM systems to manage
customer data and communication, CRMs now offer features that aid team
alignment.
CRM features allow team members, whether on sales or
marketing teams, to collaborate seamlessly on how to drive sales and
conversions with customer data.
9. Embracing channel-less CRM for streamlined business
activities
Channel-less CRM is an emerging trend that aims to
streamline business activities in a customer-centric atmosphere. It allows for
an omnichannel approach that creates a suitable business environment to
leverage full-service reps.
This new CRM approach requires building technology that
enables a channel-less customer experience, which means using a single software
that can handle multiple channels and centralize communications & knowledge sharing
without focusing on any specific channel.
10. Accessibility and inclusivity with customized CRM
software
As per 2019 statistics, 20% of small business owners feel
that generalized CRMs lack the features necessary for their specific needs. To
cater to such niche-specific needs, CRM software is now being tailored to the
specific requirements of businesses and individuals.
This trend ensures that businesses can manage their customer
data effectively, thereby providing better customer service and efficient
customer relationship management. The growth of this trend is expected to
continue in the coming years, which is a positive development for both
businesses and customers.
Conclusion
In conclusion, the future of customer relationship
management is bright and promising, with emerging trends such as AI, mobile
CRM, social CRM, and channel-less CRM taking center stage.
With a focus on providing a seamless customer experience and
boosting team alignment, businesses can leverage CRM technology to make
informed decisions and improve user engagement. The demand for CRM is set to
rise significantly in the coming years, making it an essential tool for
companies to build and maintain strong customer relationships.