In today’s customer-driven world, the only way for organisations to stand out is by enhancing their customer experience journeys. The right CRM software is the key to success, and it’s the companies that implement it correctly that truly tap into its potential.
As highlighted by Forrester in a recent report, ‘Forrester’s Customer Experience Index (CX IndexTM) data shows that companies that deliver superior CX grew revenues five times faster on average than their competitors with inferior CX.’
Trends that reshape CRM
New technologies in CRM software are bringing both customer and employee experiences to the next level. With automation, AI guides and journey analytics, customer representatives are able to place their focus where it counts – on the customer.
Today’s CRM solutions have features that adapt to and assist with varying business models, industry-specific workflows, cloud environments and complex customer journeys. AD&D professionals need to consider market trends when selecting which CRM software is the best fit for their companies.
At redk, we want to help. Following Forrester’s report, we’ve highlighted the five top trends to take into consideration when selecting successful CRM tools in 2021.
A shift in engagement
Customers have been making the shift towards self-service for years and business engagement strategies are following their lead. Businesses are now using digital channels and touchpoints to engage with their customers. For example, the United States formal wear store, David’s Bridal, earned $30,000 (£21,548) via Apple Business Chat in the first few weeks following its launch. This type of engagement requires up-to-date technology to process higher digitisation.
In 2021, organisations will increase the investment required to support this type of engagement. With the aim of strengthening relationships with customers and increasing sales, businesses will also find ways to expand conversational commerce across both owned and third-party channels.
Updated AI and automation allow sellers to shine
A human touch is a strong selling point when it comes to customer relationships. CRM software that harnesses the power of AI allows agents to connect with their customers in an impactful way. AI is continuing to empower agents with the data necessary to drive success: ‘68% of global data and analytics technology decision-makers say that their firm uses AI today. And 31% say that AI helps drive better CX…’ As AI features are used for task automation, agents are able to prioritise their customers.
Firms will continue to use AI features to elevate their customer service experience. Investing in stronger core processes and showcasing how valuable AI is to CRM users will allow businesses to take the next step in personalising customer service journeys.
The personalised path
Customers’ high expectations force agents to keep track of their entire journey. CRM software makes it easier to know exactly where customers are in the purchasing funnel, while also creating personalised content for existing customers.
The trending strategy in 2021 is to take unstructured integration data and turn it into a one-to-one conversation between the representative and customer. Allowing organisations to use data to understand preferences, behaviours, buying indicators and life events will open the doors to unique engagement that will eventually encourage loyalty.
Unification across the board
The back-of-the-house work is just as important as what the customer sees in regard to their buying journey. Optimising end-to-end processes will allow sales team members to pick up where representatives left off.
In light of this, AD&D pros are beginning to focus on the unification of their CRM tools to allow a single view between front- and back-office representatives.
Customer insights as a tool
Organisations must pay attention to onboarding and customer success in order to increase revenue. With that in mind, Forrester predicts ‘the rise of the chief customer officer (CCO), who will be responsible for post-purchase activities.’
In 2021, sales teams will all be provided with a better customer view. Customer data and insights will be readily available in order to ensure maximum customer success.
These five trends will reshape the CRM market, and CRM users must learn how to work with software advances in order to thrive. At redk, we have over 15 years of consulting experience with leading companies and can help ensure you keep up with the latest trends. Reach out today for advice on implementing the best tools for your organisation.