The history of Customer Relationship Management, or CRM, is over 50 years long, which spurred the advancement of its technology. It has boomed and continues to do so, with the market valuing at almost $48 billion back in 2019. In 2027, the global CRM market is projected to reach a whopping $113.46 billion!
After all, customer experience and satisfaction are one of the major factors to a successful modern business. That is why CRM tools are always being updated, with new developments popping up to benefit both businesses and customers even more. With the constant developments and trends coming up in the world of marketing CRM, it has you wonder: Where is CRM heading to?
Read on for the latest trends of CRM you should look into!
1. Mobile CRM
We all know about the importance of mobility, which has been a major trend in all software. CRM is no exception here!
With remote work now being the new normal, we can expect mobile demand to increase! Accessibility is needed now more than ever, especially amid the pandemic. Companies worldwide had to adapt quickly, with many struggling as they didn’t have mobility from complex tools, including CRM.
Now, mobile CRM systems have improved in terms of mobility, which may be able to further advance the speed of knowing more than what we do now. We can see universal apps working across various platforms, mobile devices, and operating systems. This allows people to transition between offline and online environments without hassle!
Furthermore, you can easily share information with your team in real-time, working anywhere without it hindering your work and productivity. Mobile CRM software will greatly benefit businesses in terms of security and intuitiveness.
2. AI Automation
The rise of AI is now happening, and just like mobility, it will only increase from here. This trend will relate to CRM in a ton of ways.
For starters, predictive analytics would be used, bringing even more new data. This will help create authoritative predictions based on relevant data. The information collected will then forecast that can improve businesses significantly.
AI is great at identifying different patterns of customer behaviour, collecting real-time insights that factor in important data such as customer preferences, sentiments, and demographics.
Furthermore, there will be even more AI automation features, saving time from doing time-consuming and tedious tasks. This will then boost productivity, with your team members focusing on other more important tasks.
Ai will also be very useful in predicting customer questions before it is even asked, for your team to prepare beforehand, ensuring questions are answered right away. Speaking of questions, AI will also be used in CRM as a conversational tool, like chatbots or voice assistants to help consumers find what they need right away.
3. Customers Use Their Voices More
Customer experience is a crucial factor in CRM. Customers are focusing more on the experiences a business will provide them, and they won’t hesitate in sharing their insights online.
One vital area customers use is social media. These are public spaces, which is why brands have to solve all problems without hassle. This relates to CRM as these tools will soon incorporate social media platforms into their own, so sales teams will keep updated with customers in one area.
Doing so will help team members know what customers are looking for or what they are commenting about the business. That way, action will be taken swiftly and people will have a better customer experience, making them more inclined to do business with you and/or spread the good word about your brand.
4. All-in-One Software
Besides social media, there will be an even broader integration expected in CRM tools. Expect to find solutions integrating software in one package, a collective bundle working together seamlessly.
That way, team members won’t need to transfer from one software to another, which slows down productivity. There will be now solutions that integrate everything businesses need, from CRM tools to analytics, email software to customer data platforms, and more!
5. Augmented and Virtual Reality
Virtual reality and augmented reality have gone a long way, and it’s now made the real world even more interactive.
Marketers see the potential of AR and VR, which is now allowing them to reach even more customers in ways that have never been imagined! As there are more opportunities in the AR and VR industry for improving customer service, it will soon be a CRM strategy.
CRM platforms integrating VR and AR will provide even more advanced tools to reach customers, which helps create sales thanks to the improved buying experience.
Wrapping It Up
CRM is dominating the software market, only increasing from here on out. Make sure you take note of these CRM trends so you can choose the correct tool for your business. Whether mobility, AI, VR/AR, or other marketing CRM trends will come in, customers will always expect the best experience, and you’ll need to give that with the right software.
Hopefully, you learned a lot about the latest CRM trends for further insight into what customers expect of your business and its services. Continue to adapt and incorporate these trends into your future strategies to exceed expectations and stay relevant in your industry.
Do you have questions or would like to share your thoughts on CRM and its future trends? Share them in the comments section below, all of your thoughts are much appreciated!