The incessant growth of the CRM market is heavily spoken about across professional networking platforms and industry segments. A lion share of credit goes its accessibility and affordability that has made enterprises of all kinds leverage their customer data using mobile and cloud-enabled platforms.
After knowing about its unprecedented growth and new opportunities, the obvious question that pops up is, what’s next?
Custom CRM development services providers have left no stone unturned when it comes to empowering CRM software and tools with impressive features. Throughout 2018, the market was flooded with solution providers advocating new integration options to offer a collaborative, end-to-end CRM. From personalization, deep customer engagement and improved workflows, CRM development has helped businesses trounce major complexities around building long-term customer relations.
For 2019, CRM space is poised to embrace and foster further advancements. Based on the market trends and industry observations, below are the trends that are likely to unfold in the approaching year:
- Mobile CRM Platforms: Mobile usage has revamped the working models in the enterprise community with the ease of anytime and anywhere access and remote monitoring. Network providers, mobile data consumption and betterment of security features contribute to this trend. It is not surprising to see increased adoption of mobile CRM solutions. Research also suggests that the use of mobile CRM platforms will boost productivity by 15 percent and help sales executives achieve target than their peers using non-mobile CRM.
- Cloud-enabled CRM Solutions: After mobile, growth of cloud-based CRM would be the most plausible trend that would surface in 2019. As a matter of fact, cloud-based CRM development gained momentum nearly a decade ago. Since then it has impacted revenue generation by nearly 50 percent, as per a 2017 research In 2019, businesses are mostly likely to witness their revenue increase, surpassing their target with cloud-based CRM solutions.
- Increased Adoption and Spending on CRM: Statistical data reveal that every year, nearly 70 percent of businesses express their willingness to adopt CRM solutions. The number is expected to remain unchanged throughout 2019 as more businesses feel the need to adhere to current technology trends and go digital. This also means that CRM developers will have to take serious initiatives to make their platforms and offerings GDPR compliant.
- Upsurge of CRM Solution Providers: Apart from CRM stalwarts like Salesforce, SAP, Zendesk, Verint Systems, Oracle and more, the CRM space will see an upsurge of new vendors. Small businesses specializing in niche CRM platforms and with competitive pricing strategy are going to sweep over the market. In 2019, there will be many affordable, industry-specific, cloud-based custom CRM platforms made for every kind of business.
- Collaboration with AI: AI has been on talks with almost every emerging arena in technology. Use of AI-powered tools have added incremental enhancements to sales and marketing areas. This serves as strong substratum for the booming CRM solution market to broaden the use of CRM platforms across businesses with AI features. AI components will power CRM users to simplify and analyse siloed customer data and track and understand behaviors to facilitate proactive marketing and CRM decision making.
- Higher Automation: When we think of automation, its not just limited to factory floors of manufacturers. Automation is essential in lowering costs, curbing redundant activities, increasing productivity and value of marketing, sales and CRM tasks. AI collaboration will help automate CRM processes, engage leads and segment customer data to foster communication and execution of relevant actions in real-time.
- Growth of Social CRM: Another interesting trend in the CRM market is the growing prominence of social media in lead generation, engagement and conversion. Sales professionals and marketers have made extensive use of social media platforms to connect, communicate and manage customers. Businesses are going to a step ahead by adopting social CRM to collaborate multiple social platforms with internal sales and marketing teams for better insights and data for enhanced customer engagement. The social CRM market is expected to surpass 10 billion USD mark in 2019.
- Customer-driven CRM Market: Thanks to the social media and mobile, customers are going to take the matters in their hand when it comes to evaluating the uses and advantages of CRM solutions. Research suggests that about 80 percent of the consumers research products online before purchasing and nearly 87 percent will use their mobile devices to make online purchases. This is serves as an opportunity for the CRM solution providers to make their business and products available online and mediums that are convenient for end-users to buy and review.
CRM is an ever-increase market that has opened door for collaboration, iterations and strategic partnerships to drive adoption. Almost 91 percent of businesses with more than 11 employees use CRM software and nearly 74 percent of them believe that the platform has improved their customer data access.
Results and productivity enhancements have been the primary drivers of growth of CRM development and customer CRM software platforms. After turning into a 40 billion USD industry in 2018, CRM market is slated to go fully mobile, allowing better communication and organic engagement between businesses and their customers.
If your company is still considering CRM adoption, now or 2019 is probably the right time to bring on-board a befitting CRM platform for guaranteed outcomes.