What’s going to be new in 2023? Let’s look at the top 10 CRM trends that should be well known to any business owner.
CRM Trends in 2023: Artificial intelligence (AI) is king
These days, there’s a ton of noise around artificial intelligence, and CRM won’t be excluded from the trend. Some projections show that CRM-related AI would raise global business revenue by $1.1 trillion by the end of 2023. Market reports also suggest that AI in the CRM market will be worth about $72.9 billion in the next couple of years.
Automation and the enhancement of existing conversational instruments are essential improvements that AI can bring to CRM. In automating time-consuming manual tasks, AI makes CRM, which contributes to increased efficiency for service agents. AI-powered CRM chatbots will use data points in the next few years to anticipate the following questions from customers or make predictions about the additional details customers will need. Such insights will assist service agents in being more diligent about resolving customer issues.
The automation of the service takes over the business-to-business sales field. Increasingly, managers prefer a fast, automated purchasing process without long discussions with a sales representative. Basic operations are expected to become fully automated shortly, such as sending emails confirming the purchase and emails with deals for new products.
If you want to learn more about AI applications in CRM, check out our article on how AI is changing CRM’s performance.
CRM Trends in 2023: Voice technology and conversational UI
For the evolution of SaaS tools, voice technology is essential. It is a crucial usability element, but it also makes it more uncomplicated and more fun to use technology. According to Adobe’s research on voice technology: “Almost all users (94%) consider voice technology easy to use and say it does more than save time – it improves their quality of life.”
Technology like Salesforce’s Einstein Voice Assistant makes it easier for salespeople to track, message, update, and notify their teams about customer data.
In the next few years of the 2020s, we expect several more CRMs to fall into line with voice assistant use and supporting hardware in operational processes and interfaces.
With Salesforce investing in Einstein Voice Assistant and other CRM leaders, including SAP the following suit, it is anticipated that voice technology can generate even greater waves for CRM systems. Voice engagement appears to be one of the next borders explored by CRM networks, with Tact.ai. This company owns smart voice assistant technology for B2B businesses, being sponsored by Microsoft and Salesforce.
Experts expect voice technology with AI and machine learning to be used by CRM platforms. This way, CRM systems offer not only data but also feedback and analytics to their customers.
Experts expect voice technology with AI and machine learning to be used by CRM platforms. This way, CRM systems not only offer data but also feedback and analytics to their customers.
CRM Trends in 2023: CRM will be integrated with the Internet of Things (IoT)
From smart home devices to wearable health monitors and cybersecurity scanners, there are expected to be more than 64 billion IoT devices worldwide by 2025, says TechJury.
This also applies to the corporate world: 93% of enterprises are believed to have adopted IoT technology in 2019, according to Fierce Electronics, which will only continue in the coming years. This ranges from necessary IoT products, such as energy meters and smart appliances, to more complex cost-effectiveness solutions, organizational skills, and the supply chain’s visibility.
The area in which most companies use data generated from IoT solutions is to enhance the customer experience. Companies will track and serve their customers with IoT technologies in new and proactive ways that were previously unthinkable. IoT will continue to make substantial changes in the manner in which CRM is performed, according to experts. Research estimates that by 2025, IoT devices would rise in number to 39 billion.
By adding connections to IoT feeds from computers, advanced CRM systems take advantage of this trend. These smart devices can provide a treasure trove of consumer usage insights. Businesses can exploit these insights to offer better customer support and more personalized marketing strategies.
Customers may, for example, use IoT devices to relay information to the concerned company about product problems and maintenance. Similarly, IoT-connect CRM software can help businesses detect product performance concerns proactively and identify possible customer satisfaction issues.
CRM Trends in 2023: Customer experience will be the top priority
According to Salesforce, 84% of customers say the company’s experience is as important as its products and services. As more organizations up their customer experience game, others must follow suit: 73% of customers say one extraordinary experience raises their expectations of other companies.
The future of CRM continues to be influenced by customer experience (CX). For both the companies that use CRM and the clients of these firms, this is real.
Usability has always been a challenge for CRM frameworks, so there will be an interface focused on ease of use for the future’s most popular CRM systems. Experts expect that CRM systems will soon grow to be easy to use, making it easier to access and evaluate information. We might also see CRM functionality to make it easier for sales and customer service agents to initiate customer contact.
Companies may also be expected to have better, more personalized customer support with CRM platforms being more comfortable to use. Such systems will deliver information that addresses the needs of consumers reliably and directs them further into the marketing funnel. Businesses can anticipate this targeted selection and intelligent segmentation from CRM systems of the future.
CRM Trends in 2023: The importance of self-service
Bots complete more contact management tasks and save team members from raising a finger as automation becomes more synonymous with CRM.
Platforms such as Drift and HubSpot provide chatbots that automatically direct prospects across marketing and sales pipelines, gathering details, asking questions, and providing more personalized content.
With self-service, with much less effort needed from the company, customers get their questions answered quicker. This is a Win-Win.
In this age, automation is a highly-promising technological trend. Its effect on customer relationship management is well visible in chatbots, making interaction management and engagement tasks simpler. Leading platforms such as Hubspot and Drift provide bots through the correct channels that guide customers and prospects.
Such bots ask questions, gather information, provide personalized content and experiences, plus anything else that a customer might need. On the consumer side, this is time-saving and stress-free, and budget-friendly for the company.
2023 is the year we are expected to see more customized programs, all thanks to CRMs, perfect for the millennial generation, remote areas, and smaller businesses.
CRM Trends in 2023: Mobile CRM keeps rising
About a decade ago, as all was done manually, CRM never left office confinement. With most CRM systems now going digital to match the latest trends and evolving customer needs, that has changed since then.
With more businesses now allowing their workers to work from home, there is a need for CRM resources that can be accessed online by multiple stakeholders. This means providing compact resources with online-offline interchangeability that are hassle-free.
Lucky are those who, once they cross the office door, can forget about work. Many professionals continue to perform activities beyond 9 to 5 routinely and from anywhere, even while commuting. Another thing is that even office workers aren’t necessarily in the office all the time – as the saying goes, “if your salespeople are in the office, they are not selling.” It places an immense focus on mobile devices. And more CRM features on portable devices needed by the growing communication need of customers.
However, a pitfall here is security. What if they lose or steal a cell phone? Does it put at risk customer details or correspondence? Producers of CRM systems need to plan to minimize the risks.
CRM Trends in 2023: Social CRM gains momentum
What is social CRM? It’s the integration of networks of social media into CRM platforms with various benefits for your business.
Companies gain a more effective analysis of what people are posting about them on social media by viewing social media and CRM together and a better understanding of brand perception.
Suppose social CRM can be used by companies to respond efficiently and thoughtfully to comments. In that case, they can create deeper relationships with current and potential customers and integrate more input from users into their roadmap.
Maybe predictably, as it allows businesses to create a one-to-one interaction with various stakeholders, CRM will continue to root into social networking.
And not just that, businesses that have adopted CRM into social media often get a better image of how clients view their goods. This helps them make the required changes and provide clients with fast answers, especially when there are misunderstandings about them.
Overall, as they can help generate leads and attract and maintain clients, social media give the highest ROI among popular marketing platforms.
CRM Trends in 2023: A higher level of integration
In 2018, marketers used as many as 12 sources of data, according to a Salesforce report. More advanced integrations with these data sources and other third-party applications will be provided by future CRM systems to provide even more consumer knowledge and extend platform functionality.
CRM platforms will track external interactions with consumers by being integrated with other business processes and data sources, such as marketing automation and analytics tools.
Once CRM is integrated with various accounting tools, companies can streamline the billing process and get more ways to implement customer segmentation. IoT devices also deliver many integration possibilities that CRM businesses can take advantage of, as we have previously mentioned.
CRM Trends in 2023: Analytics features are the must
Organizations are in the best position to find challenges, solutions, and opportunities with advanced analytics at their fingertips. Companies understand this and are continually searching for powerful analytical tools to process their data in real-time and report it.
Advanced analytics must be supported by CRMs too. For example, companies want the most reliable details about how their sales pipeline works, how satisfied consumers are, and what leads to churn.
Although not all businesses are yet ready for advanced stand-alone analytics platforms, more SMEs view CRM analytics as a must-have, not a nice-to-have.
CRM Trends in 2023: There will be a new type of CRM user
28% of millennials think CRM applications are “extremely critical” to their success, compared to 18% of Generation X and 9% of Baby Boomers.
As millennials and Gen Z continue to gain purchasing power, and the coming generations enter the workplace, this CRM trend will expand. More teams will become tech-centric in the decade ahead and insist on optimizing efficiency through smart CRM technology.
Web CRM software will become better in 2023 and beyond, and the level of automation will continue to rise. Sales, marketing, and support experts and those in the company’s team can make it easier to use. Companies can achieve higher revenues and grow and engage their existing customer base further with increasing integration with other tech resources and collaboration within the CRM system.