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CRM software brings marketing automation and digital marketing on a single platform and helps companies build substantial brand equity.
With the proliferation of social media in the early 2000s and the increasing use of digital marketing and marketing automation today, companies are gaining access to new markets and a broader audience. Gone are the days when companies spent thousands of marketing dollars to get a handful of customers. Today, they have the skills and technology to grab the attention of millions of customers at a fraction of the former cost.
The global marketing technology industry registered a 22% YOY growth in 2019 alone, accounting for more than $121 billion. This statistic proves that the penetration of technology in marketing will only increase in the coming times. As technology becomes inexpensive and more user-friendly, companies will adopt them faster and employ them across business verticals. New marketing mantras will replace the old and will change the business landscape forever. And this reformation will happen at a blazingly fast speed.
The following article will shed light on how marketing is going to transform in 2020 and beyond.
Since the advent of the internet, Text-searching has been the most popular way of searching for information on the internet. But with improvements in Natural Language Processing (NLP), people are widely using voice commands for an internet search. Reports suggest that the number of digital voice assistant will grow from 2.5 billion in 2018 to 8 billion in 2023. Google and Amazon are already leading the voice revolution and are working to improve this technology.
What does this mean for businesses?
Businesses will have to change the way they operate. They need to make their systems voice-enabled so that customers don’t find difficulties while interacting or making transactions. TechCrunch predicts that “Voice commerce,” as it is rightly called, will account for more than $80 billion by 2023.
With such enormous investments and massive developments happening in the voice-commerce field, businesses cannot choose to ignore them. Companies should invest in marketing automation software, such as CRM systems that will take care of voice-related searches and queries and provide a seamless experience to their customers.
Technology is enabling people to use multiple platforms easily. Today, mobile phones, computers, televisions, and other smart displays are interconnected and provide a seamless cross-platform experience. When combined with a voice assistant, they present a visual context that is lacking in smart speakers.
Customers can view and search for the products on their televisions, share reviews through computers, and make transactions through their mobile phones. And they can do all of this through their voice. There is no need to type or click. So companies should pull their socks and get ready for providing top-notch cross-platform experience to their customers.
Reports suggest that with the proliferation of multi-purpose voice assistants, the global mobile app market will take a hit. Customers will decrease their dependence on standalone apps that are made for a particular platform. This transformation will happen because customers will do most of the interactions that apps perform today through voice.
Voice-only interactions are going to increase in the future significantly. CRM software will help companies integrate voice systems and provide a smooth buying experience to their customers.
Gone are the days when companies had a little/no idea of the following:
Data was a constant source of worry for marketers. But with marketing automation software, companies can base their decisions on reliable data. Marketing automation constantly picks data points from multiple sources — emails, social media, landing pages, customer reviews & comments, chatbots, etc. After collecting volumes of data, it segregates business-critical information and presents it in user-friendly formats — charts, graphs, spreadsheets, etc.
With the help of automation software, marketers have to no longer only depend on their gut feeling. They can formulate strategies and create a blueprint for the future by using a mix of both.
CRM systems have built-in marketing automation tools that allow them to collate customer data and extract business-critical information.
Since the rise of social media, digital marketing is soaring high. And with new developments happening at lightning speed, it will only increase in the future.
Digital marketing enables companies to expand their products’ visibility through online methods. The benefit of using digital marketing tools is that they are swift, inexpensive, and monitor the changing customer needs and preferences.
Chatbots are emerging as one of the most influential types of communication mediums. They use Natural Language Processing (NLP) algorithms and interact with customers like a human. They collect customer-centric information, provide answers to trivial queries, and connect the customer with the support team if questions require higher-order-thinking-skills.
CRM systems integrate with digital marketing platforms and provide access to all critical digital marketing features.
Many companies fail to realize their true potential because of information silos. These invisible walls don’t allow data to pass from one department to another, and hence, the company fails to work as a cohesive team.
Modern-day technology enables companies to share business-critical information at a moment’s notice. It significantly increases the speed of conducting business, analyzing problem areas, and providing solutions instantly.
Due to the COVID-19 outbreak, people are working from their homes, and this situation will continue until a vaccine is available. The pandemic has given impetus to digital technologies in the following ways:
Teams can brainstorm strategies and create blueprints comfortably from report places. Video conferencing apps ensure that geographical proximity is not a hindrance. For example, Skype, Zoom.
Teams can share TBs of data and work on the same project simultaneously from remote places. Examples are Google Doc, Microsoft OneDrive, etc.
Businesses need to ramp up their efforts if they want to stay relevant in the coming times. Marketing is set to undergo a massive transformation, and companies need to be ready for it. To grab the target segment’s attention and provide them the best quality services, companies need CRM software. A CRM software will enable them to formulate effective plans, keep an eye on competitors, estimate how the industry is shaping up, increase the customer base, establish robust relationships with them, and build substantial brand equity.
At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization.
Disclaimer: All the information, views and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views or objectives of Sage Software Solutions (P) Ltd.