Customer relationship management: trends to watch for years to come
Before I dive into the details of CRM trends for years to come, I’d like to share a bit of information on what CRM is.
WHAT IS CRM?
If you’ve been wondering what CRM is and what it does exactly, then come with me. I will explain what CRM is all about.
Customer relationship management is a business strategy that focuses on meeting your customer’s needs. To do this, you use 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 information about customers through various channels between the organization and consumers, which can contain the site, the telephone, direct mail, live chat, marketing materials and organization’s social networks. It may also provide you with data described by customer service personnel 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 the Future Trends in Customer Relationship Management.
THE 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 faced by CRM
• Focus on the client
• Slow returns and inconsistency
EXAMPLES OF FUTURE CRM SYSTEMS
The popularity of mobile CRM is expected to greatly increase. Example: –
• INDOCIN BANK introduced fingerprint banking in which customers can transact with the help of fingerprints and without passwords.
• DBS Bank has launched a bank for mobile devices only; It is completely paperless and branchless, allowing customers to open accounts using their other card, biometric authentication at various companies that you make arrangements with.
Integration with social networks
Currently, most companies are present on social networks, however, being almost present is not enough. It is extremely important to evaluate the impact of social media on the business. Example: –
• MERCEDES-BENZ in India became the first brand in the country to use the Twitter twitcam campaign with the hashtag tweet to click. These offered users the opportunity to get a visual tour and custom image of the Mercedes-Benz Pavillion live from Auto Expo 2016. Whenever they tweeted using hashtags, tweet to click and “you better keep winning.”
• AUDI INDIA used the Twitter herd to unlock cards and which brands can use to reveal a video or commercial of a new product once the card is unlocked, a tweet is sent to everyone who participated in the exclusive content without Kohli represent the brand on Twitter the tweet of Audi ‘the official identifier to unlock the mobile faster was retweeted more than 600 times
According to experts, software as a service or SAS is expected to dominate in the future. Example: –
• myspa formally managed by ZENOTI offers sauce-based solutions for spa salons 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 classrooms grew from twelve to fifty-four classrooms.
Increased demand for personalized CRM
Every company has unique software requirements given its unique nature in today’s world of intense competition and a myriad of customer options. An increasing number of companies 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 marketing lead prospecting to billing cycle, as well as calculating ROI for marketing campaigns.
FUTURE CRM CASES
Portable devices could be the next big thing in CRM. The integration of portable computing devices with CRM systems enables organizations to gain real-time access to customer data and effectively engage 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 information could be used profitably, such as lead generation and campaign creation and shortening order cycles. For example: –
• Microsoft Dynamics CRM supports customization of 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 application 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 the customer has seen when it is deployed. It is a proprietary paper look advertising model that uses this ability, which could transform digital marketing. Example:
USE OF GOOGLE GLASS IN THE HOTEL INDUSTRY: FREQUENT DAY PROGRAMS.
In this example, a hotel staff member uses Google Glass. The couple 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 him by name.
• Identify customer reservation details and preferences and quickly start the registration process.
• In addition, it keeps track of the loyalty points that the customer has and gives them the option of redeeming or accumulating them.
• She informs the client about the weather and local events that occur around this destination.
She also translates this information into her native language with the help of the glasses after the guest checks in, the hotel staff member provides food or drinks and other services as per the customer’s choice, the advantages of the smart glasses are listed then:
• Engage effectively with the client and attend to their preferences
• Create a seamless hospitality experience for the customer.
• Provide a large amount of relevant information to the client to better guide the hotel’s marketing efforts.
CONCLUSION: CRM IN THE FUTURE
So these were the CRM trends that will be seen in the coming years with the examples. Based on the details mentioned above, it is clear that the marketing and technical aspects of CRM will potentially grow. Organizations seek to harness the power of customer relationships.
Thanks to the increasing interactions between online products and customers due to social media platforms, customer opinions about services and products have become a commercial engine. Now companies are listening and responding to user feedback to harness the power of the latest technology to continue anticipating and delivering the things customers want. For more updates, stay tuned!