Technology is changing and evolving at a very rapid rate. Earlier most companies focus was on the basic needs of the customers like remembering what customers like and accordingly shaping their plans for the future. However, with the advent of new technologies and sophisticated systems and automation companies have been trying to predict future customer needs and tailor them to suit individual clients
What is the future of CRM?
Companies need to keep up with the changing times and changing demands of the customers and CRM’s will see a lot of change in areas like artificial intelligence, internet of things and advancement in systems level. The speed at which the current digital systems are revolutionizing it is difficult to see a world of CRM without these technologies. This will iron out a lot of discomforts that companies may have faced in the past and help perform better and provide customers with more recommendations in the future.
With the advent of Internet of Things (IoT) companies will be able to apply more actionable behavior models thereby yielding in more accurate data collection and segregation. Brands will also be able to build better communication channels across various departments with the use of machine learning and will soon be a big part for businesses to survive in the future.
For example, what Facebook is doing with its Instagram acquisition and making use of the data with the help of a CRM system and predicting future needs be it in the form of advertisements, hobbies and interest of the people using the social media platform or just by tracking use of third-party systems to show ads that customers may like. Most times these players are doing real-time social monitoring for better communication channels to be developed.
One of the biggest beneficiaries of these technologies has been marketing companies. Earlier, most companies use to collect data in the form of excel sheets and then do their promotions based on the information available. However, now with the help of machine learning and AI these marketers are able to target specific audience with specific needs also making use of locations and other data available to them to generate more sales and create more awareness.
CRM software without artificial intelligence and machine learning is no longer being preferred and most of the CRM giants are focusing on delivering quick, intuitive and effective solutions. Personalized solutions which is tailor-made also helps segregate one customer from another and deliver a more satisfying experience to the customers as each individual feels more valued. From recommending products basis on their past purchase or search history to analyzing customer sentiments these CRM systems have come a long way to enhance user experience.
With the help of advanced machine learning, AI, ability to connect without interconnected devices and social media platforms CRM is able to perform the below functions:
- Call Recording
- Interactive Voice Response
- Dropping Voicemail
- Automatic Dialing
- Pop-up appearing on the screen
- Automatic dialing
- Data collection
- Data segregation
- Predicting Future
- Access to various technologies
- Simplified Call Reporting
- Virtual Reality
- Making everything accessible at the drop of a hat
- IVR or Interactive Voice Responses
What does this mean for the business and its future?
CRM systems over time will get more and more intelligent and will do multiple jobs for specific customers to meet customized demands and provide tailor made solutions. Most companies who still have multiple departments where employees collect data and interact with each other to provide solutions will have to transform itself. The future of CRM lies in the ability to make every interaction and action seamless. Based on previous service interactions the future would be predicted and pitched to the clients either in the form of advertisements or providing information.
Cloud Center will play an integral role in keeping all of these data and protecting the vest interest of each individual. A lot of money will also go on trying to protect the data as government norms have gone tighter and every individual wants its secret to be protected. Besides for companies it is important not to lose the trust of the customers hence they will have to work on a cloud mechanism that is fool proof and have a dedicated team to ensure data is not compromised at any level at any given point of time.
All of these combines will go a long way in improving customer experience. While everything at first may not seem easy and can be very confusing and daunting but it can be clearly said that the future of CRM holds a lot up its sleeves in determining and shaping the future of tomorrow. Every tool and every application will use some sort CRM system to keep customers happy.