CRM or Customer Relationship Management plays a vital role in any company’s success. If you treat your customers well and understand their pain points quickly, there is no doubt in building a long-lasting relationship with them. The companies and brands use various CRM tools for this purpose. But, these tools have seen quite a lot of evolution over the last few years. In 2018, CRM has become necessary to tackle customer’s complex needs.
With such value proposition, 2019 will surely be exciting for CRM environment. Go through this infographic if you want to know where these CRM tools stand in the future.
Infographic Content:
What is CRM?
Customer Relationship Management is a strategy that lets the businesses to manage their relationship with the customers. It primarily focuses on customer retention and thereby boosting the sales rate.
Why is CRM Important?
- Customer experience will become the decisive brand differentiator by 2020 and not product or price. [1]
- 86% of customers agreed to pay more by 25% for better customer experience. [2]
And, CRM is how you make it happen!!
With CRM software, you can create a 360-degree overview of your prospects.
Result! Result! Result!
- CRM can increase customer retention by 26%. [3]
- CRM Systems when implemented properly yield a 245% ROI. [4]
- 5% of businesses who use Mobile CRM either meet or surpass their sales rates. [5]
- 74% of companies utilizing CRM reported better customer relationships. [6]
- About 79% of leads do not convert without CRM. [7]
- Customer retention improved by 26% because of Social CRM. [8]
Future will be the year of customers.
So, CRM is not going anywhere.
In 2019 and Beyond
- CRM will overtake the data management market and becomes the largest of all software markets by 2020. [9]
- 68% of CRM solutions will become cloud-based in 2019.
- The social CRM market is expected to reach $10 billion this year.
- CRM is supposed to create 800,000 direct and 2 million indirect as well as induced jobs by 2021. [10]
- Growth in revenue from CRM’s AI-related features will reach $394 billion by 2021. [11]
- CRM as a whole is expected to reach over $80 billion revenue by 2025. [12]
Get Ready for 2019 CRM Trends
- Users want their CRM to be easy. So, make it as your priority and encourage high user engagement.
- Omnichannel CRM is trending now. So, offer excellent customer experience in all the channels of the organization.
- Businesses seek automation tools. So, use AI and mobile CRMs to automate manual tasks.
Implement the CRM that’s right for you and create a path towards success.
Sources
[1] – Walker Info, [2] – RightNow, [3] – Ready Cloud, [4] – Forrester Research, [5] – Innoppl Technologies, [6] – Software Advice, [7] – Pardot, [8] – Nucleus Research, [9] – Source: Gartner, [10] – GetCRM.com, [11] – Statista, [12] – Super Office
