Before we dive into the details of the CRM trends to see in the coming years, I’d like to share a little background on what CRM is.
WHAT IS CRM?
If you’ve been wondering what CRM is and what exactly it does, come with me. I will explain what CRM is all about.
Customer relationship management is a business strategy that focuses on meeting the needs of your customers. It does this by using advanced technologies to organize, automate, and integrate the marketing, sales, and customer service components of your business. CRM systems are basically developed and designed to collect customer information through various channels between the organization and the consumers, which may contain the organization’s website, telephone, direct mail, live chat, marketing materials, etc. marketing and social networks. You can also provide customer service personnel with described data about the user’s personal information, purchase preferences, purchase history and concerns, etc.
So this was the little introduction to CRM. Now let’s move on to future trends in customer relationship management.
FUTURE TRENDS IN CUSTOMER RELATIONSHIP MANAGEMENT:
• Multi-channel data integration
• Big data management
• Switch to cloud-based CRM
•Social CRM
• Mobile CRM
• CRM Software System with Variables
• Create a better customer experience
• Challenges facing CRM
• Customer Focus
• Slow returns and lack of consistency
EXAMPLES OF FUTURE CRM SYSTEMS
mobile CRM:
It is expected that there will be a tremendous increase in the popularity of mobile CRM. Example:-
• INDOCIN BANK introduced fingerprint banking in which customers can make transactions with the help of fingerprints and without passwords
• DBS Bank has launched a mobile-only bank, it is completely paperless and branchless, allowing customers to open accounts using their other card, biometric authentication at various companies with which it deals.
Integration with social networks
Currently, most companies are present on social networks, however, being almost present is not enough. it is extremely important to assess the impact of social media on the business. Example:-
• MERCEDES-BENZ in India became the first brand in the country to use Twitter’s twitcam campaign with the hashtag tweet to click. These offered users the opportunity to get a visual tour and personalized image of the Mercedes-Benz Pavillion live from the 2016 Auto Expo. Every time they tweeted using hashtags, they tweeted to click and ‘you better keep winning’.
• AUDI INDIA used the Twitter herd to unlock cards that brands can use to reveal a video or commercial for a new product once the card is unlocked, a tweet is sent to everyone who participated in the exclusive content without Kohli represents the brand on Twitter Audi’s tweet The official identifier to unlock the fastest mobile was retweeted more than 600 times
Cloud Deployment
According to experts, software as a service or SAS is expected to dominate in the future. Example:-
• Formally managed ZENOTI myspa offers sauce-based solutions for salon spas and medical spas. The solution is designed to manage all operational aspects of the spa and salon business, such as online reservations, appointment management, POS CRM staff management, inventory controls, integrated marketing and analytics, etc. Using the SAS solution, in just a few years, the enriched rooms grew from twelve to fifty-four rooms.
Increased demand for personalized CRM
Every Business Has Unique Software Requirements Due to its unique nature, in today’s world of intense competition and a plethora of customer choices, an increasing number of businesses are employing custom CRM.
Comprehensive solution for customer and prospect management
CRM is no longer used just for sales and support. It has now become a platform for the entire marketing process, from prospecting for marketing opportunities to the billing cycle, as well as calculating ROI for marketing campaigns.
CASES OF FUTURE CRM
Portable devices could be the next big thing in CRM. Integrating mobile computing devices with CRM systems enables organizations to gain real-time access to customer data and effectively interact with customers. It also enables companies to identify cross-sell and up-sell opportunities and improve customer relationships at every encounter.
CRM vendors are partnering with variable device manufacturers to explore different scenarios where the information could be profitably used, such as lead generation and campaign creation and shortening order cycles. For example:-
• Microsoft Dynamics CRM supports personalization on a mobile platform, which is compatible with Google Glass.
• Wearable devices now allow users to shop online directly from their device, for example PayPal recently announced the launch of a new app that allows users to pay for products using their Samsung gear2 SmartWatch.
• Google Glass has capabilities that can track users’ eyes to identify the ad that the customer has seen when implemented. It’s a proprietary paper-gaze advertising model that uses this capability, which could transform digital marketing. Example:
USE OF GOOGLE GLASS IN THE HOTEL INDUSTRY: FREQUENT DAY SCHEDULES.
In this example, a hotel staff member is wearing Google Glass. The pair is integrated with the hotels hospitality application and customer service system.
• As soon as a customer enters the lobby, the employee retrieves this information through the smart glasses and greets them by name.
• Identifies customers’ reservation details and preferences and quickly starts the registration process.
• In addition, it tracks the loyalty points that the customer has and gives him the option to redeem or accumulate them.
• She informs the client about the weather and local events happening around this destination.
She also translates this information into their native language with the help of the glasses after the guest checks in, the hotel staff member provides meals or drinks and other services based on the customer’s choice. The advantages of smart glasses are listed below:
• Effectively engage with the customer and satisfy their preferences
• Create a seamless hospitality experience for the customer
• Provide a wealth of relevant customer information to better target the hotel’s marketing efforts
CONCLUSION: CRM IN THE FUTURE
So, these were the CRM trends to be seen in the next few years with the examples. Based on the details mentioned above, it is clear that the technical and marketing aspects of CRM will potentially grow. Organizations are looking to harness the power of customer relationships.
Thanks to the increasing interactions between online products and customers due to social media platforms, customer reviews of services and products have become a business driver. Now companies are listening and responding to user feedback to harness the power of the latest technology to continue to anticipate and deliver the things customers want. For more updates, stay tuned!