CRM trends are like ocean winds – the businesses that stay aware of the direction of the breeze can maneuver well and sail towards achievement.
Every year more and more industries are recognizing the profits of CRM. With a busy space valued at $120 billion and with around 381 CRM platforms in the market, there is a vast range of tools to choose from.
Image source: Superoffice
According to statistics, 13% of firms investing in this field as a top sales priority for 2019 while another 23% were planning on improving existing sales technologies.
As 2020 has already started, some trends will shake up the industry as we know it. Below are some of top predictions in the upcoming months, including rising CRM using market.
Table of Contents
Customer Experience
Business revolves around the customer, so it is no surprise that client experience is considered to become the top brand differentiator. To win their loyalty, your goal should be to deliver better consumer experience than your competitors. This includes everything from starting a communication to post-sale service. In 2020, this may create the difference between you and your contenders.
Creating related personalized content is an ancient hat. CRM platforms built with intelligent real-time capabilities allow businesses to take the next step toward a more connected, customer-centric approach.
Today these platforms are much stronger than earlier iterations. For example, Amazon and Netflix are successful because they have the ability to serve up with personalized content, and the reason it is possible is because of the customer management relationship trends – artificial intelligence.
According to 2019 Salesforce survey, 84% of respondents ranked the importance of experience at the same level as products and services.
Artificial Intelligence
AI is touching every industry as we are using it a lot more than we think in our daily lives. Trends in CRM systems point to these platforms which helps to gather and evaluate customer data from various touchpoints including sales, marketing campaigns, social media, and contact centers.
Image Source: Salesforce State of marketing
Companies can also look forward to these kind of platform that attaches the power of intelligence for analytics. The more significant change between AI and CRM is automation and the improvement of an existing tool. AI enables this in automating time-consuming manual task, which in turn results in improved productivity for service agents.
The technology fuels predictive analytics, enhancing it’s software capabilities to provide forecast out of the data it collects. Through AI-powered analytics, CRM tools can provide real-time insights on customer behavior, identifying buying patterns that can be turned into opportunities.
Of 1,028 organizations worldwide, 28% have already adopted AI, and another 41% will do within two years.
AI associated with CRM activities will improve global revenue by the end of 2021.
CRM Needs to be Connected to Every other part of Business
As years are passing by, most organizations are viewing their CRM as a necessary organ for the wellbeing of their industry. To make this happen and reap the benefits, it has to be connected to all other tools and processes in your firm.
From your email marketing tool to your invoicing system, make sure to have two-way syncs set up between tools that store data and your CRM.
Keeping your data in sync is the exact way to avoid human error. In 2020, you have no reason to distrust your customer data and wrestle with an unending list of duplicate emails and misleading data.
According to Salesforce, the global CRM market is expected to grow an impressive $81.9 billion.
Social CRM Keeps Rising
Social CRM is the integration of social media channels into CRM platforms. By viewing social media and CRM together, companies acquire a powerful view of what people posting about them on social media sites as well as a clear understanding of brand awareness.
Organizations can use social CRM to respond to comments quickly and thoughtfully. They can build stronger relationships with existing and potential customers.
71% of businesses are more likely to have social media interactions from business.
Industries are Automating more Processes using their CRM
In 2020, CRM will become more synonymous with automation. With automation, these firms can offer high-quality customer services while optimizing operational cost- something that an increasing number of industries are realizing. It’s even better if automation features are already provided by a business’s CRM and many more.
A Customer Importance is as Vital as its Features
84% of customers say the experience a company provides is as relevant as its products and services.
According to the salesforce, there are various ways to outline customer’s expectations:
1. Live Chat
2. Knowing what they will need
3. Not making them wait
4. Knowing their business history
5. Response tweets
6. Call back options
As more companies up their customer experience game, 73% of customers say one extraordinary experience raises their expectations of other companies.
Conclusion Note:
In 2020, more industries will be using CRM to eliminate and automate what they don’t want to deal with while getting result from other responsibility. Hence to maximize your results, implement these trends, and create a path toward success.
