4 CRM Trends for 2019 and beyond
4 CRM Trends for 2019 and beyond
How CRM will evolve in 2019 and beyond
The use of CRM is growing, and in a highly competitive market, it is crucial to be up-to-date with the trends. Top CRM vendors like Salesforce, Oracle, and SAP, have been making improvements in key CRM functionalities. Each have AI capabilities, and with the ability to improve conversion rates, boost sales, gather pertinent data, and improve customer satisfaction, standing out from the crowd is not a simple task. With changes and improvements in technology, 2019 will be an exciting year for CRM as we move from standard to more complex features and functions.
4 CRM trends that you’ll see in 2019
1. Conversational AI-Powered CRM
Combining Artificial Intelligence with CRM will fuel the focus on conversational CRM systems in 2019 and beyond. There are many new developments in the CRM world like text and face recognition, but voice functionalities will lead in 2019. Just like the voice assistants on smartphone, AI-powered CRM, such as Salesforce’s Einstein, enables organizations to get information from simple to complex data by using voice commands. The lesser-known, Zia, from Zoho CRM, is a voice assistant that allows users to easily and quickly access information through mobile or desktop applications.
The use of voice is changing the way we live and work, and integrating it into CRM will only make tasks simpler, allowing for dictation instead of manually typing or to quickly access information through voice commands. There is no doubt that AI is this the future of CRM for 2019 and beyond and here are some stats to prove it:
2. IoT in CRM for proactive, predictive and prescriptive customer service
IoT in CRM is the future of customer service. IoT is believed to be one of the main drivers of CRM as it will give a big boost to CRM in terms of having CRM systems work better for organizations, driving sales, and improving customer service and satisfaction. One example of such integration is the ability to analyze information generated from connected devices, and if any issues are reported, even fixing them remotely.
As everything is becoming connected to the network, varying industries will be transformed and IoT in CRM will be able to handle this transformation by being able to better automate customer service to solve problems faster, more efficiently and even before they occur. In 2019, IoT will profoundly impact CRM as the vast amount of valuable data gathered from customers and potential customers will dramatically improve and enhance the function of CRM.
Integration — The ability to integrate with other corporate systems, such as the need to integrate a CRM system with an ERP system
3. Increase of Mobile CRM usage
Mobile CRM delivers full CRM capabilities on almost any device that can connect to the network. Enabling real time access at any time and place, it’s no surprise that this trend will continue to flourish in 2019. With mobile device usage continuing to grow, it’s only natural that the number of CRM users that access their system on smartphones and tablets will continue to grow as well.
An increase in mobile CRM usage means increased efficiency, access to more accurate information, improved customer experience, and eliminating the need to learn new software. With 91% of companies with 10 or more employees having a CRM system in place, it is pertinent to ensure that these systems are accessible on a variety of devices and internet speeds.
4. Hyper- individualization for unbeatable CX
Many companies have years of data in their CRM systems that will enable them to provide customers with an unbeatable hyper-individualized customer experience; a trend that will be evident in 2019. Hyper-Individuialization, also referred to as “extreme,” or “deep” personalization is an experience that delivers service wherein customers feel valued and appreciated because organizations understand them and will know what they want and when they want it.
Hyper- individualization will be crucial in 2019 and beyond as it will give organizations a competitive edge on customer experience and engagement. It means gathering the right data as opposed to more data and being able to answer the question to why instead of what — insights that will provide more accurate and useful recommendations, thereby greatly improving the customer experience.
CRM and Digital Transformation in 2019
In 2019, having a deep understanding of customers and a strong digital presence will lead to a seamless multi-channel experience, strong customer relations and increased profitability. Companies that transform digitally have customers that are six times more likely to try a new product or service from their preferred brand, four times more likely to refer your brand, and two times more likely to make a purchase with their preferred brand, even when a competitor has something better to offer at a lower price.
2019 will bring an increase in spending on CRM as companies realize the importance of not just knowing but understanding their customers. As technology such as voice and mobile capabilities are used in CRM, it improves not only the customer experience, but the user experience as well. The trends for 2019 — those that allow CRM to use technology more efficiently or that integrate digital technology — has allowed CRM to evolve to what it is today and there’s certainly more to see in the future as CRM becomes increasingly crucial for companies.
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This post was written by Balaji Ramachandran, Founder & CEO of SoftClouds. His mission is helping clients understand CRM, Cloud, IoT and AI, to stay ahead and ready for future trends. Bala has over 20 years of entrepreneurial and innovation leadership that has helped shape today’s CX software industry.