A look at CRM trends for 2023
In recent years, the CRM (Customer Relationship Management) system has evolved far beyond being just a tool for contact management. A few key CRM trends are set to shake up the industry in the next few years.
Everyone is curious about where CRM software is headed and how it can grow in the future What CRM trends should your company be aware of to stay ahead of the competition?
1. The use of AI in CRM systems is becoming increasingly important.
Artificial intelligence (AI) is affecting every industry. In our daily lives and at work, we use it a lot more than we realise.
A number of AI-driven software resources are available to businesses in virtually any industry using SaaS solutions, from conversational intelligence to sales analytics. Several CRMs fit that bill, incorporating AI into their broader functionality.
2. First-time CRM users face fewer barriers.
According to Gartner insights on CRM systems:
The top reason businesses switch CRM systems is to improve efficiency, secure missing functionality, and gain usability.
Many buyers rely on everyday office software, such as spreadsheets and Outlook to store their customer data, but find they need a dedicated CRM tool.
CRM buyers seek sales automation features, but actual users rate contact management as most critical.
Typical buyer budgets for CRM software range from R1000 to R1700 per user, per month, and differ slightly by industry.
A CRM implementation is often hindered by reservations about cost and lack of resources and technical expertise.
These objections are becoming increasingly irrelevant as CRMs become cheaper, easier to implement, and easier to use.
3. Social CRM is important
Social CRM is the integration of social media channels into CRM platforms. Using social media and CRM together, companies can gain a deeper understanding of brand sentiment and what people are saying on social media.
Organisations can build stronger relationships with existing and potential customers by using social CRM to respond quickly and thoughtfully to comments.
4. Technology stacks for sales and marketing can be condensed.
Sales and marketing teams can use fewer tools with the rise of sophisticated CRMs and core tech tools. The best results from their tech stack will come from creating more integrations and two-way syncs to ensure contact data is always up-to-date.
5. CRM will start integrating voice and conversational UI.
SaaS tools need voice technology to evolve. It's a key factor for accessibility, Besides making technology easier and more enjoyable to use, it's also crucial for accessibility.
Salespeople can track, message, update, and notify their teams about customer data using technology.
6. CRMs are being used by businesses to automate more processes.
A CRM must offer advanced automation features in order to remain relevant to today's tech-savvy customers.
CRMs continue to support businesses in new ways, enabling them to offer high-quality customer service while optimizing operational costs.
7. CRMs will offer a high-definition view of customers.
An organisation can build a comprehensive 360˚view of its customers by choosing a strong CRM and filling it with reliable customer data that's enriched by other sources.
8. Customer-facing teams will not be the only ones using CRM.
CRMs have been traditionally thought of as tools for sales and customer success teams. Times have changed — and CRMs are now a crucial part of a company's wider tech stack. In 2023, more organisations will realise that CRM benefits everything.
Marketers can use CRMs to best understand the contacts in their pipeline and monitor how CTAs convert. Customer success teams can access a 360-degree view of the customer to provide the most personalized experience. Backoffice teams can manage tasks. And management can access valuable data on performance across the board.
9. As CRMs become more sophisticated, they will become more useful.
Other than the basics like contact management, interaction tracking, and schedule/reminder creation, sales pipeline and funnels, most customers are looking for more advanced functions:
A central database
A centralised view of the customer offers a centralised view of multiple touchpoints with the customer thus providing a single view of the customer experience, in a system of engagement.
10. Customer experience is as important as features in CRMs.
Most customers agree that the experience a company provides is as important as its products and services. There are several ways to use CRM technology to meet the expectations of today's customers:
Live chat and live Social Media channels for quick support
Enriched data to show the full customer journey and previous support tickets
Accessible customer data across departments
Automated knowledge bases
Syncing customer data between systems to show a 360-degree view
11. Self-service via CRM will be standardised.
A growing number of CRM tasks are being automated and saved by advanced bots as automation becomes more synonymous with CRM.
Automated chatbots collect data, ask questions, and deliver more personalised content to prospects.
With self-service, customers can get answers to their questions quicker, and providers can spend less time answering them.
12. A CRM's strength is its analytics capabilities.
Organisations are in the best position to identify problems, solutions, and opportunities with sophisticated analytics readily available Analysing and reporting on data in real-time is possible with powerful analytics tools.
13. All parts of a business will be integrated with CRMs.
CRM systems are essential for a company's success and a CRM must be connected to all other tools and processes in the organisation to be effective. By keeping data in sync, you can prevent human error, resolve inefficient data silos, save time on manual input, and paint a clearer picture of your business.
It should not be necessary to worry about the reliability of your customer data nor deal with endless lists of duplicate emails.
Improved departmental alignment through CRM
Data from CRM provides deeper insights into the nature and preferences of your customers
Streamlining workflows by automating them
Connected app stacks allow data to move freely between applications.