The evolution of CRM has precipitated in recent years. While earlier, it was used just for contact management, it is now used for far more than that.
As we enter a new decade, contemporary CRM trends will rule the roost in a competitive market. Here, we list some of the trends in the coming year, which will lead to an increase in its usage, leading to development of new and more automated features and benefits.
Top CRM trends in 2021
#1. Artificial intelligence is the most important part of CRM
One of the most important things affecting industries is Artificial Intelligence. The usage of Artificial Intelligence in our lives and at work is much more than we can even imagine.
As per Gartner’s 2019 CIO Agenda Survey reports, almost 14% of CIOs have started using Artificial Intelligence. It is also predicted that global business revenue will go up by $1.1 trillion by the end of 2021 with Artificial Intelligence associated with custom CRM development activities.
#2. Lesser barriers for first time CRM users
As per the LinkedIn State of Sales 2020, CRM is used by 65 percent of sales professionals, and sales technology is considered very important by 97% of professionals.
Even with such stellar numbers, one-third of all sales professionals do not use CRM. The major reasons why CRM adoption suffers are the price, lack of resources and technical know-how on implementing a CRM system.
As custom CRM development becomes cheaper, it becomes increasingly easier to implement, thus reducing the barriers to adoption. It is estimated that a higher number of companies will adopt CRM this year.
#3. The continuous rise of social CRM
Social CRM? What is it? It refers to the integration of social media into CRM channels.
With CRM and social media integration, companies can better understand what is being posted about them on social media. It gives organisations a clear idea of the sentiments that people have for their brand.
It also helps them respond to comments of their existing and potential customers quickly and in a thoughtful manner, while conversely providing a ready platform for organisations to access constructive feedback that adds value to their business roadmap.
#4. Many CRM systems to choose from
The share of Salesforce Technology in the CRM ecosystem is over 19 per cent. But there are many other tools in the market which strive for customer’s attention by providing tough competition.
Customers can choose a CRM system from over 600 different options available in the market. All these systems come with different tools, some of which are generic and common to all platforms, while others are specific for certain needs and requirements.
Custom CRM development systems that top the charts in user satisfaction are:
- Less annoying CRM
#5. Condensation of sales and marketing tech stacks by businesses
Sales and marketing teams are getting their work done by using very few tools to help new, sophisticated CRMs. The major questions would be: why should I pay for a particular app when I can get more things done with some other app, that is free of cost?
Developers create integration and two-way syncs to ensure that data is available and updated on all apps.
#6. Beginning of CRM integration with voice and conversational UI
For the evolution of SaaS tools, voice technology is a very important factor. It not only becomes easier to access, but also makes it easier to use and more enjoyable. Voice assistant technology makes many tasks simpler for sales personnel, such as keeping track of customer’s data, sending updates via messages, or sending notifications to team members.
It is predicted that in the coming days, voice assistant features will become commonplace as part of custom CRM development practices.
#7. Automation of processes
Since the past few years, companies have been investing a lot of money on automation.
Custom CRM development systems are predicted to become synonymous with automation. They can be used for multiple purposes like communicating with customers, resolving tickets etc., thus helping the support team deliver a top-notch experience to customers while reducing operational costs.
#8. A better view of customers
The best way for a company to build a database of their customers is to choose a very good CRM system and to enter data into the system with the help of reliable sources.
LinkedIn’s State Sales Report 2020 says that a top-performing salesperson has a very high level of trust in the data provided by his CRM system.
#9. The interweaving of CRM with IoT technologies
In the coming years, the market and the household will be flooded with IoT devices.
Even corporates have acceded to this and will continually drive integration of these two reciprocal platforms. It ranges from simple devices like energy meters to highly advanced technologies that will help companies serve their clients better.
#10. CRM not limited to customer-facing teams
CRM as a tool only for sales and success in handling customer queries is a thing of the past. Now, custom CRM development systems have become a crucial part of every aspect of businesses.
Marketers can use these systems to understand contact at any stage in the customer pipeline. They can better understand how to serve their customers and equip the management to analyse the team’s performance.
#11. More sophisticated CRMs
Major requested features of custom CRM development systems include contact management, interaction tracking and schedule creation. But some users are also demanding advanced features like sales automation, email marketing etc.
#12. Equal importance to customer experience through CRM and its features
The experience that a company gives to its customer is as important as the products and services offered by them. A company can use a custom CRM development system to meet the customer’s expectation in the following ways:
- Quick support through live chat
- Display entire customer data and support tickets
- Access to customer data across departments
- Automated knowledge bases
- Syncing of customer data across apps
#13. What the customers expect from companies
A customer expects the company to know about their needs and expectations based on past conversations. Such deep understanding requires customer’s data to be more accurate while also being readily available. Having a custom CRM development system is the best way to achieve this.
#14. Growth of CRM from new markets
Majority of buyers who chose to buy CRM systems were from industries like real estate, consulting, distribution, and insurance. In the ensuing years, the demand for CRM is expected to grow exponentially in the following industries:
#15. Push for CRM use by the younger generation
The younger generation is bound to be more dependent on CRM systems for their success, given their familiarity and faith on automated processes and systems. This trend will see further proliferation once the younger generation that is exposed to technology from a very early age becomes a major part of the workforce.
#16. No company is too small for CRM
As long as you need to manage contact details, keep track of busy pipelines, and have customer data to keep track of, you are completely eligible to use a CRM system without worrying much about the number of employees that the organisation has.
#17. Self-service with CRM
With the help of automation, chatbots ensure that contact management is taken care of. Chatbots perform multiple complex tasks simultaneously such as collecting customer data, ask relevant questions and provide personalized content and resolutions to customers.
#18. Analytics are the strength of CRMs
Analytics helps organizations figure out the root of the problem, thus providing a clearer path for developing solutions and increasing opportunities. The accurate data provided by analytics will help companies maintain stronger relations with its customer base.
#19. Everything as a service
Everything as a service or XaaS is a concept which will turn any function into a service. It will include all services delivered on the internet and can also follow a subscription model.
#20. Need for CRM to be connected to every part of business
The best way to avoid errors in business operations is to keep all data in sync and accessible across departments. This saves time and maintains a single instance of truth across your business.
With the passage of time and the development of new technologies, businesses need to ensure that they provide their customers with the best experience by leveraging the latest technologies. Organisations need to make sure that their customers are well served, and operations are well managed. The best way to do this is to use a CRM software and integrate it closely with business mechanisms. Businesses looking for custom CRM development can get in touch with Smart Sight Innovations.