Customer relationship management: trends for the coming years

Before we delve into the details of the CRM trends to see in the coming years, I’d like to share a little information about what CRM is.

WHAT IS CRM?

If you’ve been wondering what CRM is and what exactly it does, come with me. I will explain what CRM is all about.

Customer relationship management is a business strategy that focuses on meeting the needs of your customers. It does this by using advanced technologies to orchestrate, 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 the consumers, which may contain the organization’s site, telephone, direct mail, live chat, materials marketing and social media. You may also provide customer support personnel with described data about your 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 of customer relationship management.

FUTURE TRENDS IN CUSTOMER RELATIONSHIP MANAGEMENT:

• Multi-channel data integration

• Big data handling

• Shift to cloud-based CRM

• Social CRM

• Mobile CRM

• CRM Software System with Variables

• Create a better customer experience

• Challenges facing CRM

• Customer focus

• Slow returns and lack of consistency.

EXAMPLES OF FUTURE CRM SYSTEMS

mobile CRM:

There is expected to be a tremendous increase in the popularity of mobile CRM. Example:-

• INDOCIN BANK introduced fingerprint banking in which customers can make transactions with the help of fingerprints and without passwords

• DBS Bank has launched a mobile-only bank, it is completely paperless and branchless, allowing customers to open accounts by using their other card, biometric authentication at various companies they 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 assess the impact of social networks on the business. Example:-

• MERCEDES-BENZ in India became the first brand in the country to use Twitter’s twitcam campaign with the hashtag tweet to click. These offered users the opportunity to get a visual tour and a personalized image of the Mercedes-Benz Pavillion live from Auto Expo 2016. Every time they tweeted using hashtags, tweet to click and ‘best to keep winning’.

• AUDI INDIA used Twitter herd unlock cards which brands can use to reveal a video or commercial for a new product once the card is unlocked a tweet is sent to everyone who participated in the exclusive content without them Kohli represents the brand on Twitter Audi’s tweet The official identifier to unlock the mobile faster was retweeted more than 600 times

cloud deployment

According to experts, Software as a Service or SAS is expected to dominate in the future. Example:-

• Formally managed ZENOTI myspa offers sauce-based solutions for salon spas and medical spas. The solution is designed to manage all operational aspects of the spa and salon business such as online booking, appointment management, POS CRM staff management, inventory controls, integrated marketing and analytics, etc. Using the SAS solution, in just a few years, enriched classrooms grew from twelve to fifty-four classrooms.

Increased demand for personalized CRM

Every business has unique software requirements Given its unique nature in today’s world of intense competition and a myriad of customer choice, an increasing number of businesses are employing custom CRM.

Comprehensive solution for customer and prospect management

CRM is no longer just used for sales and support. Now it has become a platform for the entire marketing process, from prospecting for marketing opportunities to the billing cycle, as well as calculating ROI for marketing campaigns.

CASES OF FUTURE CRM

Wearable devices could be the next big thing in CRM. The integration of portable computing devices with CRM systems allows organizations to gain real-time access to customer data and effectively interact 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 the information could be used profitably, such as lead generation and campaign creation and shortening of order cycles. For example:-

• Microsoft Dynamics CRM supports customization on 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 app 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 viewed when it is deployed. It’s a proprietary paper-look advertising model that uses this capability, which could transform digital marketing. Example:

USE OF GOOGLE GLASS IN THE HOTEL INDUSTRY: FREQUENT DAY PROGRAMS.

In this example, a hotel staff member is wearing Google Glass. The pair 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 them by name.

• Identifies customers’ reservation details and preferences and quickly initiates the registration process.

• In addition, it tracks the customer’s loyalty points and gives them the option to redeem or accumulate them.

• She informs the client about the weather and local events happening 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 offers food or drinks and other services as per the customer’s choice. The advantages of smart glasses are listed below:

• Engage effectively with the client and satisfy their preferences

• Create a seamless hospitality experience for the customer

• Provide a wealth of customer-relevant information to better target the hotel’s marketing efforts.

CONCLUSION: CRM IN THE FUTURE

So these were the CRM trends to be seen in the coming years with the examples. Based on the details mentioned above, it is clear that the technical and marketing 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 reviews of services and products have become a business engine. Now companies are listening and responding to user feedback to harness the power of the latest technology and continue to anticipate and deliver the things customers want. For more updates, stay tuned!