Before the rising popularity of the internet, products and services were market centered. Then came the internet, and it was a game changer. In the early 2000s, the customer became more educated and aware of things that the demand for better value for the price was key. The internet introduced quicker competitor comparison, increasing customer choices. This trend has continued to evolve to today’s society, which is the era of relationships. Businesses listen to customers and try to meet their needs. Customer Relationship Management (CRM) has played an indispensable role in helping businesses achieve optimal relationships. CRM works on two frameworks – operational, which concerns the automation of business processes to build long-term, profitable relationships with specific customers, and analytical, which focuses on analyzing customer characteristics and behavior to decide how to allocate resources to the most profitable customer group. Both these frameworks will get a boost in the coming years. These frameworks will encourage the following CRM trends that will dominate 2019.
- Data Mining Will Gain Prominence
- Social CRM Will Boost Relationships
- Companies Will Go Beyond Expectations
- Response Times Will Come Down
- CRM Adoption Will Increase
- CRM Will Become Easier to Use
- Cloud Will Stay a Popular Platform
It’s 2019 and customers have more power to shift the market and trends. They are calling the shots about which products and services that the marketplace should offer. And businesses are adjusting their business models to keep up, all thanks to CRM. For the businesses who embrace this software, they will gain better relationships with their customers in years to come.