Trend – there are two things, which come to our mind when we hear this word. First is fashion. We often hear it in the fashion industry. It indicates the latest styles that celebrities and commoners wear today. Second are the topics on social media. It determines which is the most mentioned topic.
However, there’s another way that we can use this word. That is through listing the trends in customer relationship management. Nobody thought it would be a hit in the new millennium. People have already considered it as a failure. They thought that it wouldn’t help the company to handle customers.
It only changed when smartphones and social media were on the rise. When people started using these innovations, entrepreneurs are re-evaluating and reconsidering its initiatives. The sales and marketing sectors are continually changing to adjust to customers’ behavior. Many people say that the trends in customer relationship management tool will change how companies deal with the clients. Regardless of the advancement in technology, CRM requires ongoing innovation and best practices.
In this article, we will discuss some of the trends in customer relationship management world. But first, we need to discuss what it is and how it changes throughout the years.
Definition of the CRM System
CRM has many definitions. According to the dictionary, CRM refers to the collection and analysis of information designed for supporting sales and marketing decisions. Its purpose is to give support and better understand the needs of present and future clients. It includes payment processing, account management, adjustments, and credits, among others.
Hence, the customer relationship management system refers to an application that identifies the wants and needs of their consumers. The tool records, regulates, and stores all customer interactions. CRM software uses the latest technology to replace manual documentation. It also enables users to track everything, from contact details to conversation with buyers.
Evolution of CRM Tools
Since the beginning, entrepreneurs knew the importance of customers. If they received quality products and services, they would be satisfied. This satisfaction turned to repeat sales and an increased customer base.
However, it was hard to know whether or not the customers were happy. Business owners had to meet them face-to-face to know their reactions. It was also difficult to keep a good relationship with their clients. It only changed in the 80s when everything went digital.
During that decade, the customer relationship management program was introduced. However, before it was released, it went through numerous trials and errors. Finally, the concept turned into reality when the digital revolution helped boost customer connection.
When database marketing developed, entrepreneurs could market to their clients on a personal level. They used email messaging to connect with their patrons and to send marketing campaigns. However, they had no way to monitor customer responses and to organize the data received. CRM – in the 80s – was a one-way path.
In the 1990s, customer relationship management applications became more active. Instead of delivering information to their consumers, they asked them to interact with the details. They provided rewards and special offers for those who would sign up or refer friends. These moves were needed to expand businesses and not to keep them totally loose. Entrepreneurs gave useful goods; clients received rewards, and everyone was happy.
However, when the new millennium was coming, everybody was scared. They thought that everything would go back to the beginning. Hence, investors pulled their money out on the website technology. Consequently, CRM began to crumble. It only recovered when the cloud technology arrived.
The latest customer management system has become more advanced. It has analytics, which provides full details about the client. This new method has helped businesses to connect with their buyers. Moreover, it has helped them create a more efficient marketing approach.
As of today, people are becoming more tech savvy. The technology has also become more accessible. You don’t need to get back home or go to an internet cafe to check the website. People are now using their phones to check and buy the products that they want.
According to the NY Times, buyers spent more than $25 billion from shopping via mobile phones in 2012. This new way of connecting made entrepreneurs rethink the old CRM versions. Thus, customer relationship management companies developed an app that is more interactive and mobile-friendly.
With the latest customer relationship management model, users can track their marketing strategies while on-the-go. Moreover, they can predict customer’s behavior with the use analytical systems. They can do all these things with the use of their smartphones and their trusted mobile CRM app. They just need to have an internet access to use the software.
The Latest Trends in the CRM Software
Social media has made a huge influence, not only for communication but also for sales. When consumers buy a product or service, they post it on their social networking accounts. They inform the people about their experiences upon purchasing the goods or services.
It has transformed the importance and role of customer feedback on social networking sites. Entrepreneurs have found out how those comments will affect their business. Furthermore, they have recognized social media power in engaging with customers.
But social media isn’t the only trend in CRM. There are other customer relationship management toolkits that you can use. Here are some of them.
This type of customer relationship management tool is continuously rising. According to the former VP of Salesforce.com, Peter Coffee, cloud CRM software is a budget-friendly method of gathering data. With this tool, users don’t need to visit numerous resources to get more leads. It’s because this data is readily available. He also added that this tool would grow in the coming years.
The good thing about the cloud-based tool is the accessibility. Since the data is in the cloud, it allows users to view the software using different devices. All they need is an internet connection to use the tool.
One of the few companies that used Twitter to communicate with their clients was Comcast. This action confirms social CRM power. Social media marketing is still one of the best customer relationship management tools. Thus, companies are considering this method.
Social media platforms empower consumers to influence the perception and image of a brand. Buyers don’t need to call the company regarding their concerns. They just need to post it on their social media accounts to get their attention. It forces them to answer the negative feedback before it spreads throughout the site.
You know how frustrating it is to use multiple applications. It could cause confusion. The worst part is you could lose vital information. However, you can stay away from this scenario, if you use a centralized database.
As the name suggests, a centralized database is the focal point of data. With this tool, you don’t need to use multiple applications as it does everything, from saving documents, to recording conversations.
Furthermore, this software promotes collaboration. If one of your team members modifies the data, you can see it in an instant. Hence, this tool helps increase the overall productivity of your company.
The use of mobile phones has changed over the years. Gone are the days when its only purpose was to call and text. Nowadays, you can surf the internet, send emails, watch movies, and so on.
Apart from that, it has also become a critical business component. Since smartphones can access the Internet, business owners don’t need to use their PCs to check the company’s progress. They can do it while they are on-the-road. They just need to open the app to monitor their business.
Through this device, it empowers customer service and personnel resources. Moreover, it will shape up customer’s perception, not only in the real-world but also online.
As mentioned earlier, consumers use social media to say what they want to say. Thus, it pushes enterprises to use crowdsourcing. This method refers to getting information via the internet. This technique provides clients the solutions, fresh ideas, and expectations. It also helps employees improve their relationships with their clients.
These are the latest trends in the customer relationship management sector. These tools will help in reaching success. You just need to choose a platform that fits your business processes and needs.
However, before you get this software, you need to do your research about the CRM package and its provider. Let’s face it! All CRM companies claim that they offer the best customer relationship management tools. The problem with these statements is that many people believe them without doing research. Thus, they end up with the wrong solution.
To ensure you get the perfect system; you need to read reviews of customer relationship management tools. It will tell you what you need to know about a particular product. However, make sure that it comes from a reliable source. Otherwise, you might get the wrong system.
When looking for credible reviews of CRM software, the best place would be CrowdReviews. It ranks CRM products based on customer reviews.
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