Key 5 CRM Trends to Follow in 2020

By Apac CIO Outlook | Friday, August 28, 2020

As customers receive self-service content and processes more than agent-assisted channels, organizations have increased their investment in self-service technologies to enhance customer satisfaction.

Fremont, CA: Modern customer relationship management should be the primary technology for customer engagement to deliver experiences that will keep customers to return, and businesses must provide the best service to gain optimal customer satisfaction.

Here are five trends for CRM in 2020:

Hyper Personalization Supports One-to-One Interactions

Customers will want engagement personalized to their history, preferences, context, and intent. CRM will use customer intelligence gathered from unstructured interaction data to boost one-to-one conversations. The data collected will be from conversational styles, broader demographic data, and social data, buying indicators, relationship graphs, and life events.

Self-Service for End-To-End Customer Journey Support Increases

Many customers self-serve as the first point of contact with businesses, while B2B buyers prefer to self-educate than interact with a seller. As customers receive self-service content and process more than agent-assisted channels, organizations have increased their investment in self-service technologies like commerce solution, chatbots, marketing resource management solutions, knowledge management, customer-facing configure price quote (CPQ) solutions, and much more.

Check Out: Top CPQ Companies

Customer Value Models Drives Ongoing Customer Success

As organizations lean towards their success, they will switch to expansions, subscription models, and renewals. With onboarding and CRM technologies, it will offer front-line employees improved visibility of the customer’s value. Additionally, CRM licensing models that emphasize on business value and outcomes will increase.

Unified CRM Boosts Targeted Role-Based Experiences

Excellent customer experience depends on personalized role-based experiences provided by an integrated CRM with a secure connection to back-office application and not by departmental, siloed CRMs. There will be further integration of departmental CRMs into broader business solutions.

AI and Automation to Improve CRM Outcomes

AI-based CRM navigates sellers and agents to choose the right actions, enhance campaigns, pricing, product configurations, and encourage them with the correct insights. Companies will focus on robotic process automation (RPA) and bots that have better ROI.