Let’s take a look into the stats, predictions and trends surrounding all things CRM in 2017.
CRM Spending will Exceed $37 Billion - increasing to $36.5B worldwide market by 2017, a significant increase from the $20.6B forecasted in Q1 of this year (Gartner CRM report 2016)
Business Intelligence - worldwide spend in this area is projected to grow from $14B in 2013 to $18.6B in 2017 (Gartner CRM report 2016).
Supply Chain Management (SCM) worldwide is proje
cted to grow from $9.16B in 2013 to $13.6B in 2017 (Gartner CRM report 2016).
Data Integration Tools and Data Quality Tools - spend worldwide are projected to grow from $4B in 2013 to $6B in 2017 (Gartner CRM report 2016).
Predictions & Trends:
Digital face to face customer service- The year 2018 will make commerce companies integrate technology to deliver a digitized customer experience. Other than video chat support, about 50% companies will integrate more sophisticated technology to give an extra support to its customers – both during purchase and after the sale (Gartner CRM Report 2016). The latest trend of these technologies comes from WebRTC technologies, which can be implemented directly into a website or app, focuses on a two way virtual customer service experience allowing for technically and purchasing issues to be virtually communicated through.
SasS Platforms to gather speed - SaaS cloud applications allow users to personalise software for their role. Within a modern SaaS suite, you can easily connect your entire business from any device, anywhere. You can connect to other clouds and integrate to existing systems.
Automated Customer Service - Customer support is becoming automated together with digital analytics. This comes in the form of automated emails as replies to a customer’s queries. Having said that there would still need to be some type of human interaction or shall we say ‘sense check’ to ensure queries are handled in line with the correct response.
Self-service CRM – Customer self-service capabilities will continue to improve as businesses work to enhance the efficiency and costs, similar to that of LinkedIn where customer data is solely updated by the customers itself meaning not only is it cheaper to retrieve the data, but the data is also more accurate.
Greater unification of CRM and commerce - “The lines separating CRM and commerce platforms will disappear. Enterprises, large and small, make strategic decisions based on how they can best increase revenue, satisfaction and efficiency, and a lot of that will come through merging commerce and CRM software.” (Eric Marotta at Cloud Craze).
Artificial intelligence – According to multiple sources 2017 will be a year in which artificial intelligence (AI) dominates marketing & CRM. Users need the ability to learn from the data and improve the uniqueness of a campaign in five different ways, getting the right creative, right audience, right message, right device, and right time. The sheer volume and swiftness of data being processed cannot solely be manged on a human scale. AI could provide the most effective way to process the data and make informed decisions in real time.
Predictive Analytics - Predictive analytics can be used in all aspects of the business model but the best initial results will probably come from customer retention and services. Offering a customer a customer something they need before they even need it.
Real Mobile CRM instead of Faux Mobile CRM – Mobile CRM is cannot be just making the desktop version responsively designed for smart phones or tablets. Mobile CRM needs to be a total platforms, intricately linked to the core CRM. This can lead to better customer service and engagement, giving business the upper hand against their competitors.
One cannot completely predict the future, but the world of CRM is picking up pace with new technologies and functionalities to give off the best customer experience, 2017 should be an interesting year for all things CRM!
If you would like to hear more about how we could assist you in regards strategies to increase your customer base and leverage the data you hold, please don’t hesitate to contact us.