The Future of CRM Software
Back in the 1980s, when the first CRM system made its debut, it was basically a fancy database designed to collect and organize client information. But it wasn't until the 1990s that CRM took a giant leap forward and became a two-way street, allowing companies to not only gather data but also provide a top-notch customer experience. Fast forward to today, and CRM has become a massive industry, thanks to advancements in software, the internet, and its overall capabilities.
From a static database to a dynamic business tool, CRM has revolutionized the way companies operate and interact with customers. Now, everyone wants to know: What's in store for the future of CRM? Well, there are countless possibilities, but in this blog, I'll explore three potential directions the CRM industry might take and how we, as CRM vendors, plan to keep up.
Let's Get Social
The first step CRM vendors should take is integrating social media platforms into their CRM systems. These online networks provide a treasure trove of information about how customers think, behave, and feel. They also offer additional touchpoints for informal customer interactions and relationship building.
Given the immense popularity of social media, it's crucial for CRM companies to explore its compatibility with their systems. Not only can companies gauge customer sentiment, but they can also analyze buying preferences and behavior, enabling them to customize their products and services accordingly. Companies must also recognize the lead generation potential of social networks. For instance, if you want to find out if people are actively seeking a product or service you offer, just check Twitter, where you can find their specific needs and requirements summed up in 140 characters or less.
Let Your Voice Be Heard
Technological advancements have been the driving force behind CRM's evolution. The next big development on the horizon is likely to be voice-enabled software. Most CRM vendors already offer mobile access, allowing companies to update their databases on the go. But imagine if salespeople could interact with the CRM system using just their voice and their mobile device.
This remarkable advancement would involve the CRM system authenticating the user's voice through their mobile device, enabling them to update their account simply by giving verbal instructions. On the flip side, the CRM system would also read out the user's schedule, appointments, to-dos, and more through their phone. While this prediction may sound far-fetched, I genuinely believe that within the next five years, CRM will become one of the most interactive and indispensable business tools.
A Package Deal for CRM Success
With a multitude of CRM contenders flooding the market, the key to survival lies in finding a unique competitive advantage. Most CRM systems offer similar functionalities and intuitive features, with some doing it better than others. However, to truly stand out, CRM vendors need to shift their focus from just selling a product to offering a comprehensive CRM package that includes a well-thought-out strategy and value-added services.
By adopting this approach, CRM vendors can establish long-term partnerships with their clients, ensuring that the system's features are optimized to the fullest extent. Here at Luxor CRM, we bundle a range of services with our system, such as assisted deployment, regular check-ups, and unlimited support. We've found that this approach significantly boosts the success rate of our deployments and increases client satisfaction.
While the fundamental concept of CRM remains the same, the technology and sales strategies surrounding it are constantly evolving. The three predictions outlined in this blog shed light on where I believe CRM is headed in the future and hopefully provide some guidance for CRM vendors to stay ahead of the game.