The cost of acquiring a new customer can be anywhere from five to 25 times more expensive that retaining an existing one. That’s why in today’s competitive digital marketing landscape, smart businesses do everything they can to show their appreciation for existing customers. This reality is reflected in the unprecedented growth of customer relationship management technologies, which have become an essential component for marketing departments in all verticals.
- Brace for More AI-Based Bots. Marketers are faced with an overwhelming amount of data. The challenge is finding insights and creating relevant actions from copious amounts of data. In a world of constantly connected customers, where data grows at speeds too great to comprehend, AI powered bots are a key to marketing insights. Machine learning and predictive algorithms can help take the guesswork out of marketing decisions; so AI-based bots will become essential tools for marketers who are committed to building creative, exciting, hearts-and-needle-moving campaigns.
- Contextual CRM Will Take Center Stage. Today’s customers are increasingly savvy and well prepared to filter their marketing messages. In an environment in which many customers view ads as noise that needs to be blocked, becoming a “best-friend brand” is the only way to break through the marketing clutter and gain customers attention and trust. We will witness a surge in technologies for real-time hyper-targeting, catering to micro-segments of customers and embodying the vision of contextual marketing: targeting every customer with the right message, on the right channel, at the right time.
- Omnichannel CRM Will Take Over. With the average adult connected to the web by 4.5 devices, marketers will no longer be able to ignore the multichannel reality. Customer communications will increasingly be conducted through orchestrated multichannel campaigns. As more traffic is directed to mobile, CRM on mobile will overtake other CRM channels. The ever-connected user will leave marketers no option but to be always on, and their efforts will be directed to always-on channels. Robust mobile CRM backed by powerful multichannel capabilities will be the name of the game.
- Social CRM Will Thrive. Despite the unsurpassed popularity of social platforms, CRM has yet to truly harness social media for customer marketing. The factor that may finally tilt CRM towards social may be customer support: Facebook and other platforms are putting weight behind customer support, via both humans and bots.
- Predictive Analytics Will Come Into Its Own. The buzz of predictive analytics has been going around the CRM space for years. But most systems still incorporate only a semblance of analytics, if they do so at all. We will see the real integration of predictive analytics into CRM platforms, allowing for future value calculations that will lead to more powerful monetization methods.
- Verticalized CRM Will Set In. As users come to expect more from brands’ communications, and CRM managers require more bespoke customization, customer marketing platforms will offer different solutions for ecommerce, gaming, financial services and other verticals. These systems will cater to the radically different business and monetization models of each vertical, with more product-and cart-centric methods for ecommerce, longer time horizons for financial services customers and so forth.
- The Suite/Best-of-Breed Seesaw Will Keep Swinging. On the one hand, brands are looking for integrated solutions. On the other hand, cloud technologies support best of breed platforms. There is a trade-off between these two ends, and CRM is still seesawing between them. Data-driven retention marketing technology has become a must-have for customer-facing brands. Customers will expect contextual and emotionally intelligent communications that acknowledge their preferences, wants and needs. This is the time to make sure that your CRM technology can deliver.
Salesforce Sales Cloud manages contact information and integrates social media and real-time customer collaboration through Chatter. It supports sales, marketing and customer support in both B2B and B2C contexts. Sales Cloud helps track customer information and interactions in one place, automates complex business processes, keeps all information up to date, nurtures leads and tracks the effectiveness of marketing campaigns. Features in Sales Cloud include contact management, opportunity management, Salesforce Inbox, Salesforce Engage, lead management, reports and dashboards, Wave App for Sales, marketing automation and more.
Infor CRM, formerly Saleslogix, is an account centric CRM solution designed to enable your sales, marketing and customer service teams to improve the management and increase the value of business relationships. The Sales module delivers tools to manage customer relationships efficiently whilst facilitating improved forecasting and reporting throughout all phases of the sales process. By automating process and reporting your sales team will have more time to do what they do best, sell!
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