The Evolution of CRM Systems in 2019
CRM Systems have become a household name in recent years. More and more companies started realising that automating their processes is the way to go and started investing in CRM solutions. But as the market gets more and more saturated with new software, CRM developers have to implement new innovative and more complex functionalities to remain competitive.
If a few years ago clients were easily impressed with a simple generic product, today they are more informed and technically educated. Business managers have started searching for CRM solutions at the early stages, having realised that it’s a must-have product for customer acquisition, retention and management.
Customisation is becoming more and more important, as companies search for more precise solutions tailored to their industry. Previous years have shown that client retention is just as important as lead generation, therefore companies need to focus on customer experience. Deep Personalisation’s goal is exactly that. Deep Personalisation or Hyper-Individualisation is what makes the CRM act proactively and predict the client’s future needs. By offering a client a solution that they will need in the future before they realise it themselves, CRM System developers will be showing that they care about him, providing that essential human touch.
In 2018 Accenture conducted a research on Personalisation, that discovered that 91% of consumers are more likely to shop with brands who recognize, remember, and provide relevant offers and recommendations, and 83% are willing to share their data to enable a personalised experience.
Another factor that has greatly affected the CRM market is Artificial Intelligence, causing developers to actively try and become a part of it. By incorporating AI into their products, CRM developers gain the opportunity to speed up sales and improve forecasting, generate more leads, lower operational costs, help increase ROI, raise brand awareness and offer a more effective customer support service. AI’s use of voice commands also simplifies everyday tasks and allows users to gain any type of information rapidly.
According to a white paper by IDC, AI associated with CRM activities will boost global business revenue by $1.1 trillion by the end of 2021. 28% of IDC’s respondents said their organisations have already adopted AI and another 41% said they will adopt it within two years.
Judging from this research, we can confidently say that AI isn’t going anywhere, and the sooner CRM developers realise this, the more benefits their product will bring.
But AI isn’t the only new trend on the block. With more and more people moving away from desktop computers in favour of mobile devices, CRMs have to take a similar route. By offering all their functionalities on the go, they give their users the opportunity to be more productive, proactive and in touch with their processes at all times. Mobile CRM Systems provide an overall better user experience and freedom of action.
A study by Nucleus Research, actually found out that mobile access to a CRM increases sales productivity by almost 15%.
In summary, modern CRM Systems have to focus on a number of things. They have to support different business models, fit small and big companies, be customisable, increase agility, offer lots of integrations and bring strategic value to the clients. Developers need to adjust their product strategies to feature new Automation and AI trends to evolve their solutions according to the industries requirements. One thing that is certain, CRMs have already become crucial for companies to succeed, and will only continue to gain momentum.
Author: Nadia Ivanova, PR & Digital Marketing Manager at Qobo Group Ltd