Customer relationship management (CRM) has been recognized as an organization- wide strategy implemented through the use of different technologies such as sales force automation (SFA), cloud computing and the role of AI. Here are some trends and challenges for CRM in 2020:

Customer Experience

People go where the best experience takes them, and it has been proven that the majority is always willing to try out new products and brands. Furthermore, gaining a new customer is an enormous 1000 times more costly than retaining a current one. Customers will compare your services with platforms like Amazon. These platforms make sure that their customers get personalized content. This tactic is a step towards a more connected, customer-centric approach. Shep Hyken, CAO at Shepard Presentations, says, that think about companies like Netflix or Amazon. One of the reasons they’re successful is their facility to help up personalized content, whether their suggested products based on a previous purchase or TV show recommendations like the one you just watched.

Social Media Influence

During this period when everything is connected with social media, customer experience raises its bar to a new height as well. In a recent CRM Land article, Christopher Sirk states that “A positive interaction on social media makes a user 71% more likely to buy stuff from your business.” Social media has been a bridge between the service providers and the customers making it easy for the companies to engage with their customers. In a world where empowering customers and uplifting the experience is the highest priority, social CRM will continue to grow in eminence

Cloud Computing

Nowadays when most of the companies are still coping with impacts of the economic crisis, new solutions, how to keep customers, are being searched. CRM consultant dynamics 365 is the next generation of cloud-based intelligent business applications that amalgamates your front office customer information (CRM) with your back end. It permits all your employees, from marketing to service, to make smart, data-driven findings that help customers leading to more business.

AI and its role

An AI-induced CRM will be able to learn from past behaviors and historical data to gain the best leads for sales. Artificial Intelligence will also be able to predict imminent customer behavior. Not only this but virtual assistants and bots can speed up the sales by using technology to interact with your customers or schedule meetings. Incorporating AI with CRM can also systematize customer reports, emails, and more. This aids you in avoiding the danger of human errors in your tasks and administrative duties.

Use of AR and VR

CRM platforms that assimilate AR and VR give companies more up-to-date tools for campaigns and sales. Such tools can significantly improve the buyer experience. AR can provide real-time data that employees can use in the hands-on application of knowledge and skills. This will remove the barrier between the customers and their companies.