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Customer Relationship Management (CRM) is an essential component for marketing departments in any business. Here are the top CRM trends for 2017: O v e r a l l C R M u s a g e 56% 74% i n c r e a s e d f r o m 5 6 % t o 7 4 % i n 2 0 1 6 CRM is becoming popular than before The rise of mobile CRM Cloud-based CRM Solution Picks-up Pace CRM vendors are now improving UX through: • Better Displays • Delivering intuitive dashboards and reports using Powerful Analytics Mobile CRM is gaining popularity. It can increase workforce productivity by around 15% Today’s workforce is highly mobile. Employees access software from multiple devices and locations. This has spurred the rise of cloud-based CRM solutions. Increased spending on CRM Among the various technology investments proposed, CRM software leads the pack. Gartner estimates the CRM market to be worth $37 billion in 2017. of businesses might spend more on customer service software. 47% of businesses has plans to increase their budget for email marketing 60% Among mobile CRM users, 65% sales representatives are meeting their sales target, in comparison to just 22% achievers among non-mobile CRM users About 87% of businesses use cloud-based CRM 87% AI-Based bots to infest CRM The Rise of Social CRM CRM to rise above functional silos CRM will offer more behavioral insights CRM to acquire Knowledge Management functionality Vertically specialized CRM to take off big time CRM will witness convergence of technologies References Data is growing at an exponential pace. To keep pace with it, we have Artificial Intelligence (AI) powered bots as a solution. AI-powered CRM will drive automation in several customer interactions like: Contextual marketing Catering to micro-segments of customers Targeting customers in real-time with the right message, and the right channel Increased automation will render cold calls a thing of the past, through precision targeting CRM suites have not fully exploited the social space for customer marketing. The focus will be on Social influence and Sentiment analysis Traditional CRM has three major customer facing components CRM will facilitate outcome based selling, cross-selling and up-selling Such compartmentalization is now blurred, as customers demand dynamic service beyond what functional silos can offer. SALES SERVICE MARKETING 2017 is tipped to be the year of social CRM http://www.superoffice.com/blog/crm-software-statistics/ http://www.cmswire.com/customer-experience/7-top-crm-trends -for-2017-a-look-ahead/ http://www.destinationcrm.com/Articles/Editorial/Magazine-Features/ 10-CRM-Trends-to-Watch-in-2017-115513.aspx http://blog.capterra.com/5-crm-trends-to-watch-in-2017/ http://www.optimove.com/blog/7-top-crm-trends-for-2017 The key elements of AI are: Machine learning Predictive algorithms Cognitive computing Deep Learning Integration of CRM with Virtual Reality or Augmented Reality will revolutionize field jobs. For example, marketing executives, will be able to create product demos realistically. Virtual Reality and Augmented Reality set to invade CRM Allow more optimal allocation of the marketing workforce 34% of companies are estimated to achieve 20% to 30% improvement in productivity through proactive knowledge sharing The norm will be to develop CRM’s specifically for process-driven industries like: Such industry-specific CMS, will have every functionality to suit specific business models Field Service Real Estate eCommerce Financial Services Gaming In 2017, CRM solutions will overcome existing challenges of: suyati.com Forecasts sales accurately Microsoft acquired Parature, Aptean acquired Knova and Oracle acquired RightNow, Q-go, and InQuira Customer analytics will offer deeper insights by delving into the “why” of a behaviorPredictive analysis will allow CRM to CRM vendors are increasingly incorporating knowledge management into their core offerings, to enhance the functionality of their core CRM Data integration from various silos Implementation Deployment Vendors with integration-ready partnership will gain ground.
