The cost to acquire a new customer is always 10 to 20 times more than retaining an existing one. This is why in today’s competitive digital era, smart businesses do all they can to demonstrate their appreciation for every existing customer. This is reflected in the exponential growth of CRM technology and its adoption, which has become an integral aspect for marketing people in all business verticals. With the New Year already kicked in, some exciting CRM technologies and trends are just around the corner. Here’s what we can expect:
- Customer Intelligence to gain Notoriety
Today’s customers are tech-savvy and well-versed when it comes to filtering marketing messages. So in an era where customers perceive ads as disturbances that they often block, the only way to break through is by becoming a friendly brand to gain customer trust and attention.
As a result, CRM technology are increasingly focused on customer intelligence, giving real-time targeting/analytics to assist brands in better understanding their consumers than ever before. This will include targeting the right customer at the right time and through the right channel.
- Brace yourself for more AI powered Bots
Marketers today are loaded with deluging volumes of data. And the real challenge lies in identifying insights and devising relevant actions from this pool of data. In an era of constantly connected people, where data generation happens at warp speed, artificial intelligence or AI powered bots would become the key to gain marketing insights.
Further, predictive analytics and machine learning would greatly help in uprooting the guesswork out of critical marketing decisions thus, AI powered bots will turn out to be integral tools for the marketers to help create innovative and appealing campaigns.
- Social CRM will Fly High
Despite the unparalleled fame of social media platforms/channels, CRM is yet to fully harness the power of social media channels for marketing. This year will perhaps witness a surge in social CRM technologies and adoption rates with emphasis on sentiment analysis and social influence. The topmost factor that is already driving CRM towards the social world is customer support. The key to keeping your customers engaged lies in Social CRM and beyond.
- Predictive Analytics to take Centre Stage
The buzz pertaining to predictive analytics has been hovering over the CRM ecosystem for years. Will be the trigger point for CRM with predictive analytics, as we will witness actual integration of predictive analytics tools into the CRM platforms enabling us to foresee customer patterns and behaviors. Brace for intelligent and intuitive insights and reporting.
- The Best-in-class CRM Suites will Flourish
On one hand, businesses are looking out for more integrated solutions, whereas on the other hand, cloud technology is increasingly turning out to be the best of breed platforms. In fact, there is an interchange between both these ends and CRM is still teetering in between. 2017 is expected to bridge this gap, as mobile and cloud CRM software is expected to witness a whooping surge in its demand. All thanks to the connected generation.
Conclusion
Data based customer retention marketing tactic has turned out to be an essential facet for businesses these days. Customers can expect for emotionally intelligent and contextual communications from businesses/brands. Thus, it is time for a business to ensure that its CRM technology is up-to-date and delivers per expectations.
To know how a cloud CRM software can help you become BFF with your customers whilst making your marketing team efficient, contact us here. You can also SMS SAGE to 56767 or drop us a mail at sales@sagesoftware,co.in for free demo and consultation.
