CRM market has been growing at a fast pace. The market has continuously been into its development phase and is enhancing rapidly. Branch of CRM is expanding in distant ways and the enhanced offering includes data analytics, social CRM applications and mobile functionality. 2016 has no doubt been a year of progress for CRM solutions and the upcoming year will surely provide it an opportunity to ingress into every small and big business in order to make loyal customers.
Staying connected to your target audience and knowing their needs is the only way to make loyal customers. According to a survey by Gartner, the CRM software market will grow, through 2017, to about $36.5 Billion in size. It was worth $20.4 Billion in 2013. Further researches has suggested that, companies often need complete solutions to help them connect with their customers. For the same they need effective CRM solutions.
Here are top 5 CRM Trends for 2017:
1. Cloud based CRM to rule:
Everything is slowly moving towards cloud and so is the CRM solutions. Cloud Integration is one of the fastest growing enterprise software. Looking deep into the industry it is quite clear that cloud computing is going to rule CRM market. Reports from Garner has also suggested the same. According to the cloud report, a study by Bessemer Venture has revealed that 50 percent of all the CRM software will get cloud based by the end of 2016 and the same is going to increase to 62 per cent in upcoming 2 years.
2. Mobile CRM to make way:
Merging CRM and mobile is a good idea to increase sales exponentially. This gives salesperson with an instant access to CRM account of the customers where he can overlook account history, product information,price list and promotions. This will enable the salesperson to close sales on spot and will help in generating leads.
This exclusive software is available on mobile or tablets and are efficient enough to provide contextual news, social data and task flows to complete frequent activities.
3. Social CRM to make way:
Using social media strategies to engage with customers is refer to as Social CRM. With every business going online, social CRM has also made its way to online platforms. According to a research from ReportsNReports, the overall global social CRM Market is forecasted to be $17.92 billion by 2019 with a compound annual growth rate (CAGR) of 51.9 percent for 2014-2019.
4. CRM users showing interest in Integration:
Previous versions of CRM applications were systems with limited or no ability to integrate and gather data from other sources. However, with the increasing demand, modern CRM applications have started integrating with related software applications. CRM solutions are now providing seamless integration with marketing automation software, e-commerce platforms, analytics software, productivity software, accounting system and more. It also includes interactive visuals and dashboards which makes it easy to quickly identify and act on opportunities. Tools like Business Index or BI which are fully integrated with Dynamics CRM online makes life easy for salespersons.
5. Big Data becomes part of CRM
Data analytics has also been an important part of running a business and is longer taken as exceptional. As data expands at an exponential rate the ability for a business to take action and make decisions based on hard evidence is a core differentiator between good and great.CRM generates large data and when the data is too large, it's not practical. It needs to be filtered and businesses need to find way to overcome this challenge. Dynamic CRM tools are used to gain insights to these advanced analytics. It provides customers with intelligent, adaptive processes for sales, customer service and social CRM.
It's necessary for every businessto have an integrated and affordable CRM solution that can give 360-degree view of their customers, achieve sales targets and build relationships.
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