Maintaining customer relationships is integral to business growth. We have CRMs to thank for making customer relations a walk in the park. With the increasing number of digital tools, everyone is excited yet worried about the future.
In this article, we look into the future of CRM. We divulge the exciting trends that will shape your future. We also shed light on how to use the tools to your advantage.
Current CRM trends
The budding value of CRM software is estimated to be around $46.2 Billion in the US market in 2023. Sales and marketing teams are enjoying more convenient features including audience segmentation.
These are some of the most notable CRM trends in 2024.
- Powerful AI capabilities
- CRM software that enhances self-service
- New and diverse data sources
- Hyper personalization
- Integrations and APIs will expand CRM capabilities
- Mobile-compatible CRMs will be on the rise.
CRM software will include powerful AI capabilities
Artificial Intelligence is increasingly infiltrating every field and enhancing technology. AI models like ChatGPT and Gemini are changing how we work. CRM users can now do more with the handy assistance of AI tools.
Here are the top things AI is doing for CRM.
- Automation. Workflows are now streamlined with the help of AI.
- Generate insights. You can easily get valuable insights.
- Cut manual/ tedious work
- Aid in customer service
- Offers more ways to collect, analyze, and store data
AI models are bringing more ways to tackle challenging work tasks. Sales and marketing teams rely on simple tools like Pipedrive’s AI sales Assistance to get sales insights. Such tools are vital for productivity.
CRM software will emphasize self-service
As the world grows in tech in-take most brands are considering self-service avenues for customers. Customers get their problems solved without the need to involve a professional.
There are automated processes with FAQs and chatbots to help customers navigate the system.
Brands are admittedly increasing self-service options in their offerings. As such, customers expect more self-service options when interacting with a product or service. Thus, CRMs are incorporating the same for their customers.
CRMs now include chatbots and assistants that help with processes like setting up. Data collected from customer interactions is valuable to creating memorable customer experiences. Sales and marketing departments get these insights to inform their decisions.
CRMs will have new data sources
Buying customers base their decisions on their interactions with the brand. Data is a key aspect of measuring customer interactions. More data sources can enrich insights into customer needs.
CRM tools connected to social media, like Facebook, can increase data sources. With that, a business can understand buyer behavior and adjust service to meet customer expectations.
The IOT, Internet of Things, is another area that will enhance customer data collection. Smart devices like smartwatches can enhance specialized data collection. Companies can sync data from the gadgets to recommend health products.
Hyper-personalization
A survey by McKinsey shows that 71% of customers expect brands to deliver personalized products/services. Even so, 76% become frustrated when they don’t. Personalization is indeed important to building a loyal customer base.
Companies like Target understand their customers and send them offers that match their buyer history. Personalization includes intelligent messaging and location-specific offers that meet the customer’s needs.
Personalization helps create brand loyalty as customers feel heard and understood. The messages feel personal and customers feel a deeper connection with the brand.
Integrations and APIs will expand the CRM environment
There has never been a tool that handles every sales and marketing aspect. However, APIs and Integrations help CRM integrate with other tools for enhanced functionalities.
You can easily create a path to connect and share data between your CRM and payment processing software, email marketing software, and customer support software. Future APIs will have more capabilities, like tapping into more data sources.
Automation avenues like accounting, lead qualification, loyalty programs, and support documentation are crucial for enhancing the sales process. APIs and integrations provide scalable and consistent results for your business.
Mobile-compatible CRMs will become more popular
Mobile use increases every year. CRMs of the future are mobile-friendly allowing users to carry them on the go. Mobile-compatible CRMs are convenient and flexible. Marketers can manage customer data and access what they need at any location.
Mobile-compatible CRMs will be a welcomed change for field marketers and people who work from home. The CRMs are perfect for small business owners and solopreneurs who are always on the go.
Notably, the global demand for mobile-based CRM accounted for nearly 27% of the market in 2022. Mobile CRMs are increasingly enhancing their functions to keep up with their counterparts.
Conclusion
The future of CRM remains bright. Teams should keep up with trends to make the most of their CRMs. The increasing functions and areas to harvest valuable data will inform decisions.
Teams can curb spending, enhance customer experiences, and stay competitive through the insights they gain. Maximum utilization of the tools will drive business growth.