AI continues to transform CRM and ERP systems by automating tasks, personalizing communication, and analyzing customer data to improve user experiences and business outcomes. This includes predictive analytics, natural language processing (NLP), and AI-driven automation
Artificial Intelligence (AI)
Integration with IoT
Automation Improvements
Integration of BPA with Unstructured Data
Mobile CRM
Social CRM
Self-Service And Simple CRM
Business management software such as CRM systems is important for businesses to nurture and maintain relationships with leads and current clients. Moreover, with additional features like marketing automation, customer support, and accounts management, these platforms offer 360-degree business management solutions for organizations to thrive sustainably.
However, with constant technological advancements, CRM features keep evolving to provide better services and cater to the ever-changing customer experience trends. To stay ahead of the curve, businesses must be aware of the latest CRM trends in 2024 to be at the forefront of innovation. Let’s see which CRM trends in 2024 will shape business management software in the coming years.
Artificial intelligence will continue to be among the top CRM trends in 2024. As more companies start using AI, CRMs are adapting as well. In 2019, Gartner predicted that by 2024, 50% of CRM implementations would use Machine Learning (ML) or AI. AI improves user experiences, automates repetitive tasks, personalizes communication, and more. It is courtesy of artificial intelligence that companies can build better customer relationships and improve their marketing efforts. Some of the ways that companies can use AI to improve their CRM features are as follows:
Improving customer relations: AI is being integrated into business management software to read and analyze customer behavior. This gives companies a better understanding of customer preferences and needs. The CRM tool can then use this information to send highly personalized messages to customers, improving customer satisfaction and encouraging repeat business.
Automating tasks: AI is widely used to automate routine tasks. This includes tasks like sending automated replies to emails, scheduling appointments, or keeping track of customer interactions. Examples that efficiently explain this are chatbots and email bots that help understand the exact requirement of leads and educate the sales teams on how performance can be improved and sales processes optimized. This allows for efficient use of time and maximizes employee productivity.
Personalization: AI can automate personalized messages based on customer information and preferences through business management software. When a customer makes a purchase, the company can track their previous purchases and recommend similar products. This improves the customer’s experience and encourages them to continue shopping.
Therefore, AI can help businesses better manage their customers by collecting required data accurately and quickly. It can do this by identifying patterns from data history and using that to predict outcomes, and suggest different plans of action, enabling AI to provide valuable insights for businesses to help grow their bottom line.
IoT will also continue to influence CRM trends in 2024.The Internet of Things (IoT) is a network that connects billions of internet-connected devices. These devices can collect and transmit data, allowing users to monitor and manage many aspects of their daily lives.
A growing number of IoT devices can integrate with business management software, allowing businesses to integrate IoT data with CRM data. This integration allows for better management of customer touchpoints across channels. CRM vendors such as Creatio, Salesforce, Microsoft Dynamic and SugarCRM are actively working on developing IoT-CRM integration solutions. CRM trends for 2024 indicate that IoT market is expected to grow significantly in the coming years and that’s why vendors are increasingly focusing on integrating this technology into CRM features.
According to Fortune Business Insights, “[T]he IoT market size was valued at $384.70 billion in 2021. The market is projected to grow from $478.36 billion in 2022 to $2,465.26 billion by 2029, exhibiting a CAGR of 26.4% during the forecast period.”
IoT data can add value for customers and businesses alike. The data collected from connected devices can provide businesses with profound insights into customer behavior and preferences providing better customer experiences and predictions, thus increasing operational efficiency.