CRM is a competitive, growing space. Companies will go to great lengths to hire the top CRM developers, technical leads and project managers. This is because the right CRM system, when implemented cleverly, has the potential to catapult a company forward as marketplace demands intensify.
So what is next for the CRM system, and how can you capitalise on it? Here are the top 5 CRM trends we are expecting to see in 2020.
1. It Is All About Customer Experience
Business revolves around the customer today more than ever. So it is no surprise customer experience is predicted to become the top brand differentiator by 2020.
Customers agree. In a 2019 Salesforce.com survey, 84% of respondents ranked the importance of experience at the same level as products or services.
People go where the best experience takes them, and Forrester research has shown that the majority are always willing to try out new products and brands. Furthermore, acquiring a new customer is a 500% more costly than retaining an existing one.
As such, organisations are working hard to deliver a better experience than competitors, not only to draw new prospects but more importantly to boost customer loyalty. One way of doing this is personalisation. Personalisation isn’t a new, but the way it is being used is: through intelligent CRM programming, organisations are able to make the customer experience hyper focused and individualised.
Think about companies like Netflix or Amazon. One of the reasons they are successful is their ability to offer personalised content, whether it is a suggested product or show. Which brings us to our next expected CRM trend – AI. The reason such precise personalisation is possible is largely thanks to Artificial Intelligence.
2. The Role of AI
AI is not only here, it is on the path to major growth, according to Salesforce research. Respondents to the 2019 State of Marketing report indicated that their AI use cases would go up 257% over the next two years.
The areas poised to see the greatest expansion were:
Customer segmentation and lookalike data modelling (277% increase)
Programmatic advertising and media buying (269% increase)
Personalisation of the channel experience (266% increase)
The possibilities are nearly endless when it comes to applying AI in CRM. And the market is huge; by 2020 it will be worth $73 billion according to Infoholic Research.
Within AI, we have noticed some trends as well. Our clients are increasingly wanting expertise in Automation, Conversational Tools and Analytics.
3. Mobile CRM Is Here to Stay
Mobility has long been a central component of sales activities. An Aberdeen Group study from back in 2012 was already highlighting the importance of extending CRM systems beyond the confines of the office.
But that doesn’t mean mobility is a bygone trend. If anything, as processes become more involved, the workforce becomes more scattered and buyer demands place more pressure on sales reps to perform, putting the power of CRM into the palm of a workforce’s hand will only serve to propel the brand further down the road to success.
CRM systems will be working to deliver easy-to-use mobile solutions that empower teams to work anywhere effortlessly.
4. CRM Will Continue to Get Social
As the customer experience bar raises to new heights, social media has become a focal point.
Social channels allow companies to connect with their audience in real time and build brand equity where prospects and customers are already spending time. It also enables one-to-one marketing and the personal attention customers crave.
A 2019 report on marketing trends showed why social publishing and advertising are valuable. From lead generation and customer acquisition to customer retention and customer advocacy, social is among the highest channels for ROI across the customer journey.
From providing valuable data to offering social listening opportunities, social media has set itself up as a lynchpin of CRM activities.
CRM integrated with social media platforms enhances the customer experience. To illustrate, say a customer needs a problem solved. They can hop onto their preferred social media site and connect with the company via messaging or by @tagging a handle dedicated to customer service issues.
Email and phone support aren’t dead, but some customers will prefer the ease of using social media to resolve their question.
5. CRM Software Will Become More User-Friendly
CRM systems have grown and evolved so much over the last decade that in some cases they now mimic ERP systems in some areas. This may seem great on the surface, but for a salesperson who is on the road and needs to focus on selling, or a customer service rep who is trying to find the right information quickly, the systems have become somewhat cumbersome.
Enter the trend towards simplicity. We are going to see the user interface of CRM systems becoming increasingly straightforward, with more complex functionality pulled out and left to super users. The most powerful systems are useless if they are too complicated—so look out for streamlined dashboards with intuitive functionality.
About Oliver Parks
Oliver Parks offers search-based recruitment solutions to the technology sector, specialising in the ERP, CRM, CMS, ECM, BI and Open Source Technology spaces. The firm’s multilingual consultants operate in narrowly-defined niche market segments, enabling them to gain extensive knowledge of the people and companies operating in each technology. Oliver Parks has a proven track-record with more than 100,000 candidates worldwide and more than 300 clients globally.