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4 Focus Areas shaping up the CRM Space

CRM a.k.a Customer Relationship Management has grown leaps and bounds since the 2000s. In an era defined by Automation, we examine the 4 areas where CRM has been evolving.

  1. AI First CRM Management:

    Text and face recognition, Conversational AI, Voice functionalities will lead in 2020. AI-powered CRMs, such as Microsoft dynamics 365, enables organizations to get information from simple to complex data by using voice commands.

    These enable you to:
    a. Discover Insights
    b. Predict Outcomes
    c. Recommend Next Steps
    d. Automate Work flows

  2. Offline to Online, Pen to Digital:

    Use of and Management of “Offline data” remains a problem today. Productivity tools like handwritten planners and notebooks, as well as notes saved in wide-ranging apps on smartphones, mean vital information from sales calls, meetings and the like aren’t hitting your CRM.

    Unified Integration with smartphone applications will bridge the data and add in tremendous Qualitative value.

  3. IoT for Predictive Analytics:

    Predictive CRM softwares gather data across social media, email, websites and online videos to organize, segment and analyze the data.

    The latest predictive CRM algorithms can identify how customers interact with online resources such as social media channels and websites. This can tell a marketer which marketing strategies might work with certain customers and which won’t.

    By targeting only the customers who are likely to be receptive to a particular offer, companies can increase their marketing yields, drive efficiency and, ultimately, become more profitable

  4. Retail vs Digital Customer Experience:

    According to a Gartner report, CX projects are about 50 percent technology. The remaining 50%? That all comes down to qualitative factors like customer emotions, perceptions and related factors.

    To achieve success in customer experience, executives need to take a broader view of their stakeholders. In addition to sales and marketing, other departments need to be considered such as customer service to get a holistic view

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