In the past, customer relationship management (CRM) was used to gather, save, and manage a database containing customer details. It was used to increase customer loyalty and sales. Today, it has advanced to become a system that helps companies support customer relationships and communication with them. It also enables interactions with potential clients.
Rather than just improving sales, 2020 is all about automating processes so that you can expand your reach and enhance the entire sales and marketing operation. Let’s begin by looking at the CRM trends we have seen in 2020.
Customer Relationship Management Trends: 2020
Customers need to benefit from an optimized experience, so companies need to appreciate their behavior through continuous communication. If your sales team is small, this may be an impossible task. CRM will need to be integrated with AI so that you are able to gather customer behavior and actions. AI will also assist in the development and management of drip campaigns so that you are reaching target audiences.
The Customer Experience
Once upon a time, customers were satisfied with buying the best product. Today, they require the whole package, quality, and excellent service. Excellent customer service must begin from the first moment they see the product to the post-sale service. With multiple quality products, the customer experience might be all that keeps you ahead of the competition.
On average, sales representatives need to switch communication screens more than 1,000 times per day. All-in-one CRMs will allow for more effective communication internally and externally by reducing the number of screen switches.
Social media is a 2020 trend in itself and has already become a crucial tool for communicating with current and future customers. 2020 sees the integration of social media into CRMs. This way, customers can contact companies through their preferred social media platform, again, improving their experience.
Sales representatives need to be able to quickly access customer information whether they are in the office or on the road. Today, you can not only access your CRM but also add to it from anywhere in the world. With up to date information, you are better able to forecast your sales.
Easily Operated CRM
It is essential that your whole team is able to quickly and easily use the CRM. You will only be able to get the most out of it if everyone works with it. A complicated system will encourage sales representatives to find alternative methods to record customer information.
Customer Relationship Management Statistics: 2020
The following set of statistics have been compiled by CRM experts and explain just how significant the 2020 CRM trends are.
- 45% of companies will have invested in AI to improve their CRM procedure
- According to 68% of consumers, customer communities such as forums and chat rooms will be used more often.
- By 2020, CRM will be the largest software market, overtaking data management.
- 2020 customers will be more informed and be more in control of their experience.
- 56% of companies used CRM data to target their audiences in 2018. In 2020, this is predicted to reach 69%.
- At the end of 2019, 86% of customers were willing to pay 25% more for improved customer experience.
- It is expected that CRM marketing will reach a value of $73 billion.
Making sure that your sales representatives have constant access to up to date customer information will all them to do their job better and customers will receive a superior experience, leading to more sales and increased revenues. It sounds too good to be true, but implementing a CRM is one tool that you can’t overlook in 2020.