Key CRM Trends for Improving Business Efficiency
Posted: Sat Dec 21, 2024 3:47 am
Customer relationship management (CRM) software has evolved significantly from a file containing customer information like a Rolodex to a tool that stores customer data to help you provide best-in-class customer service. With its unique capabilities and features that help businesses grow, using a CRM is not an option, but a necessity for businesses to survive in today’s competitive world.
Indeed, businesses use CRM to a large extent. But what is more phone number database important for entrepreneurs is to keep up with the latest trends in CRM software that offers advanced solutions to meet the unique needs of customers.
Learn more about The Evolution of CRM Since the 1950s .
In this blog, let's learn about the direction in which CRM is developing today.
Top 7 CRM Trends in 2022
CRMs have definitely revolutionized the way businesses operate. According to a report on the key benefits of CRM from Software Consulting , a significant majority of businesses (74%) said their system offers improved access to customer data. Since CRM products have such a huge presence in the sales space, let’s take a look at some of the new CRM trends you’ll need to optimize your sales goals:
Customer Experience
Customer Experience
A successful brand is not just about offering a lot of features and configurations to attract customers. It is also about putting customer satisfaction first by providing quality service.
This is only possible when you are able to know and understand your customer.
CRM should provide:
Design (convenient navigation through screens)
Functionality (easy to use features)
Robust data processing capabilities (360-degree customer view)
Reporting Functions (Actionable Ideas)
Features like these help you focus on your customers through customer engagement, displaying feedback, and providing exceptional support.
For example, sales and marketing departments can use historical and current data to determine audience preferences. Support teams can ensure that their services meet customer needs and concerns.
With a CRM that helps you provide great customer service, you can increase revenue and retain customers.
Artificial intelligence
AI bot
AI was initially introduced to replace human efforts in performing everyday activities. But have you ever thought about the role it plays in business?
Businesses use CRM to track, store, and centralize customer information. With ever-growing volumes of data, organizations have shifted their focus to implementing AI solutions that can extract and analyze customer data and provide real-time insights for quick decision making.
AI has also become more of a virtual assistant than a simple business software.
Many CRMs include AI capabilities, and here are some examples of AI use cases:
Lead Management: AI tools allow you to qualify, score, and segment leads from the first interaction. This helps you focus on leads and close deals faster. AI also simplifies the data entry process by collecting lead information from different sources and recording it in the CRM.
Customer Segmentation: Using customer data, AI can segment customers based on their purchasing history, demographics, etc. You can study different customer behavior patterns and analyze current and future customer interactions with your business.
Customer Support: Artificial Intelligence is currently used as an entry-level customer agent in the form of bots to respond to customer queries immediately in real time. AI in CRM is also used to monitor employee performance and productivity. This, in turn, is used to train teams to identify gaps in the process, train employees, and improve productivity.
Analytics: When AI is integrated with CRM, it provides sentiment analysis, which means tracking various customer touchpoints and providing accurate information about the customer’s satisfaction level with the product. For example, call analytics provide insight into the quality of calls. They also provide intelligent recommendations on the next best course of action.
According to Infogolic Research , the market revenue of companies using AI CRM will reach $72.9 billion by 2023. So, make a smart decision and ensure that your CRM incorporates AI in various activities to improve business productivity and team efficiency.
Indeed, businesses use CRM to a large extent. But what is more phone number database important for entrepreneurs is to keep up with the latest trends in CRM software that offers advanced solutions to meet the unique needs of customers.
Learn more about The Evolution of CRM Since the 1950s .
In this blog, let's learn about the direction in which CRM is developing today.
Top 7 CRM Trends in 2022
CRMs have definitely revolutionized the way businesses operate. According to a report on the key benefits of CRM from Software Consulting , a significant majority of businesses (74%) said their system offers improved access to customer data. Since CRM products have such a huge presence in the sales space, let’s take a look at some of the new CRM trends you’ll need to optimize your sales goals:
Customer Experience
Customer Experience
A successful brand is not just about offering a lot of features and configurations to attract customers. It is also about putting customer satisfaction first by providing quality service.
This is only possible when you are able to know and understand your customer.
CRM should provide:
Design (convenient navigation through screens)
Functionality (easy to use features)
Robust data processing capabilities (360-degree customer view)
Reporting Functions (Actionable Ideas)
Features like these help you focus on your customers through customer engagement, displaying feedback, and providing exceptional support.
For example, sales and marketing departments can use historical and current data to determine audience preferences. Support teams can ensure that their services meet customer needs and concerns.
With a CRM that helps you provide great customer service, you can increase revenue and retain customers.
Artificial intelligence
AI bot
AI was initially introduced to replace human efforts in performing everyday activities. But have you ever thought about the role it plays in business?
Businesses use CRM to track, store, and centralize customer information. With ever-growing volumes of data, organizations have shifted their focus to implementing AI solutions that can extract and analyze customer data and provide real-time insights for quick decision making.
AI has also become more of a virtual assistant than a simple business software.
Many CRMs include AI capabilities, and here are some examples of AI use cases:
Lead Management: AI tools allow you to qualify, score, and segment leads from the first interaction. This helps you focus on leads and close deals faster. AI also simplifies the data entry process by collecting lead information from different sources and recording it in the CRM.
Customer Segmentation: Using customer data, AI can segment customers based on their purchasing history, demographics, etc. You can study different customer behavior patterns and analyze current and future customer interactions with your business.
Customer Support: Artificial Intelligence is currently used as an entry-level customer agent in the form of bots to respond to customer queries immediately in real time. AI in CRM is also used to monitor employee performance and productivity. This, in turn, is used to train teams to identify gaps in the process, train employees, and improve productivity.
Analytics: When AI is integrated with CRM, it provides sentiment analysis, which means tracking various customer touchpoints and providing accurate information about the customer’s satisfaction level with the product. For example, call analytics provide insight into the quality of calls. They also provide intelligent recommendations on the next best course of action.
According to Infogolic Research , the market revenue of companies using AI CRM will reach $72.9 billion by 2023. So, make a smart decision and ensure that your CRM incorporates AI in various activities to improve business productivity and team efficiency.