Today, CRM (Customer Relationship Management) is the most critical aspect of eCommerce & the retail industry. An essential tool to increase retention rate and grow your business, CRM integration is the key to success for a majority of the market leaders, giving up to 50% improved team productivity.
With such a competitive market, CRM is a growing space. Today, almost every provider focuses on providing best-in-class sales experiences to their customers. Further, with the Covid-19 pandemic that recently took place, consumers worldwide have shown an increased dependency on eCommerce platforms.
All these factors put a significant thought behind the CRM integrated into your ecosystem. Your CRM plays an important role in the execution of such operations. Considering the wake of the pandemic, let’s have a look at the latest CRM trends for 2021 & beyond.
Top CRM Trends
AI Will Continue to Prosper
One of the latest marketing tools’ latest additions, AI, has been an integral part of the marketing field. Experiencing immense popularity in its application, Artificial Intelligence had jumped from 29% in 2018 to 84% in 2020.
Expected to be a market of size $734 billion by 2027, Artificial Intelligence, integrated with CRM, is the latest innovation in the field that is poised to influence eCommerce industries at large. The integration of CRM with AI, allows marketers to have a better persona of their buyers and have better chances of sales.
Considering the significant role their integration plays and the stats mentioned above, AI is here to stay!
Reliance on Data
Data and Analytics are the key to businesses of every shape & size. Companies rely heavily on data, to execute and strategize their sales campaigns. Analytics continues to play a significant role in running industries & brands that execute their operations at a global stage.
Moreover, adapting to the present situation’s needs, retail omnichannel solutionshave adapted to more diverse tools for collecting data. Given the multiple streams that feed the CRM efforts, using and managing data is going to be a critical aspect of marketing for the current year and definitely for the future.
Rise of Chatbots
A unit of the AI system, Chatbots have made a great name for themselves. One of the most recent additions to the customer services wing, Chatbots, have faced immense popularity due to their real-time nature. Today, customers don’t really like to wait for days or even hours to get a solution to their problems.
Chatbots help business owners to run their shop, with the help of automated problem solving. These AI-powered bots execute a wide number of operations, ranging from customer services to sales. Looking at the ways in which the use of chatbots personalizes the customer experiences, it is a trend to look forward to in the coming future.
Social Media will Serve as a Focal Point
Today, almost every social media platform allows businesses to advertise and sell their products in both organic & inorganic ways. With the rise of different social media platforms using different UI, every application helps the brand in the promotion and sales of their manner in their own unique manner.
Here’s a look into the stats of users using Chatbots for daily outputs.
For example, the USP of Instagram allows businesses to highlight their products’ ‘product images’. This way, companies can advertise their products in a more appealing manner. Similarly, Facebook and Youtube also help you promote your business in a definite manner.
Looking at the impact that it has on users of different age groups and how social media is the most definite reality, it will be an integral part of the success of multiple businesses.
Rise in Voice-Based Shopping
Amazon Echo or Google Home are some of the most common things that can be found around almost every house. Smart speakers have been a massive success with sales. They had shot up to a sales rate of 70%, higher from that in 2018. Further, the market is projected to reach the mark of over 35.5 billion U.S. dollars in its size by 2025.
With smart speakers showing such immense success rates, voice-based searches and sales have also started to transit to their next phase. As we move ahead with the year 2021, we can expect a sharp rise in voice-based marketing. Here’s an infographic to help you understand better.
Smart speakers are expected to receive more sales than traditional means. Interestingly, businesses can easily utilize this opportunity by brands, once they prioritize voice-optimized SEO. This little change in content creation can play a significant role in boosting the sales & revenues of businesses.
CRM For Ecommerce is ever-changing! Keeping up with the current trends helps you reap the benefits of smarter marketing & better sales. While there have been rapid changes in the business field, certain trends like AI and Social media are here to stay for 2021 & beyond.
Lastly, remember, while keeping up with the latest CRM trends is necessary, your business strategy also plays a significant role in driving your business’s output.