5 Powerful and Key CRM Trends and Statistics You Should Know in 2022
CRM is the most popular software and it's use is significantly on the rise. if you are considering using a CRM software, here are some trends for you.
- Table of contents
- Why is CRM software growing at a staggering rate?
- 5 Key and Powerful CRM Trends You Should Know
It is 2022, and with the drastic changes with CRM software and how businesses adopt the new software, we are predicting significant changes to the CRM trends.
Customer Relationship Management (CRM) is a tool designed to improve relationships businesses have with customers. With the help of CRM software, business owners and managers can track relationships with clients, personalize interactions and collect valuable insights.
Arguably, CRM software is the most significant software in the world. Over the next seven years, CRM technology is predicted to reach a value of around $128.9 billion.
Why is CRM software growing at a staggering rate?
CRM stands at the center of every growing business. Over recent years, companies have adopted cloud-based solutions that enable their employees to access the software from anywhere. Cloud-based CRM offers more flexibility and scalability than on-premise solutions.
Businesses that have embraced the technology have witnessed a considerable improvement in the adoption of the software by their employees and an increase in their sales revenue. In fact, if a company has over 11 employees, there is a 91% chance they use CRM software.
In addition to this trend, both employees and customers are expected to use CRM software more from mobiles.
In this article, we will be discussing the critical CRM trends and statistics for 2022. As a business owner or a CRM user, you will want to read on!
Providing the best products or services is no longer enough; having meaningful relationships with customers is equally important. A significant relationship will foster loyalty and retention, which translates into increased revenues.
CRM has grown beyond the standard contact management mechanism, and it has proven to be a holistic business solution over the last few years.
5 Key and Powerful CRM Trends You Should Know
As we go deeper into this new decade, the CRM industry has been shaken up by key CRM trends. At the end of this article, you will know enough about the latest CRM trends in 2022, and you will learn how to get on top of it.
1. Artificial Intelligence
2. Mobility and accessibility from anywhere
3. Customers are using their voices online
5. CRM will join hands with IoT
"Instead of using technology to automate processes, think about using technology to enhance human interaction." – Tony Zambito
1. Artificial Intelligence:
In 2022, Artificial intelligence has experienced significant growth as expected. According to a Salesforce statistic, marketers using AI jumped from 29% in 2018 to 84% in 2020. It is estimated that AI will influence CRM strategies and boost global revenue by $1.1 trillion at the end of 2022.
What does the impact of AI mean for CRM?
Firstly, this ushers in the rise of predictive analytics to bring unprecedented data types to the forefront. This will make it easier for businesses to learn more about their customers and predict future buying trends.
AI can be very efficient in segmenting customers based on unique factors. It is very adept in identifying patterns humans wouldn't have been able to pinpoint. Hence, it gives us priceless real-time insights that factor in demographics, customer preferences, feelings, world-views and sentiments, on how our audience buys. Businesses can quickly evaluate their current deals and detect trends for future leads. Thus, you can focus on quality leads that are more likely to buy than spending on 'audience' who won't turn into customers accurately.
Secondly, AI will influence the evolution of CRM by powering the growth of automation features. This makes it possible for redundant time-consuming tasks to get automated. This makes it easy for you to cut out resistive administrative tasks and focus more on other productive works.
However, there is still a limit to what AI can do currently. There is still the need for human capable hands behind the scenes. Nonetheless, automating redundant tasks will allow your marketing, sales and support employees to answer more customer questions and focus more on delivering high-quality experiences.
Another critical effect of AI on CRM trends is its ability to predict customer questions before asking them. This enables your sales team to prepare beforehand and gain valuable insight into what a quality lead is thinking of without needing to ask.
The final area of AI's effect on CRM trends we will be talking about is conversational tools. Tools such as voice assistants and chatbots can help customers find what they are looking for and guide them to the right place. The effectiveness and functionalities of chatbots will only improve. In the future, chatbots will be able to use language processing to understand what a customer is thinking deeply.
Voice assistants functionality in the CRM software allows users to talk to the software instead of manually tying things out. Although voice assistances are still a long way from being entirely dependable, it is a trend you should keep in mind this year.
AI coupled with CRM can contribute noticeably to enhanced efficacy. The CRM market with AI is predicted to push the $1.1 trillion cap to over $72.9 trillion over the coming years.
2. Mobility and accessibility from anywhere:
Mobility and accessibility have long been central figures of sales activities. A study by an Aberdeen group in 2012 has predicted the need to extend CRM strategies beyond the confines of offices. Needless to say, that prediction is more accurate now than ever.
The 2020 pandemic brought the need for this reality sooner than anticipated. With the entire planet on lockdown, work needs to be done to keep economies and several industries from crashing. The concept of remote working doesn't sound so impossible, as businesses were forced to adapt overnight.
As business processes get more complicated, there is a need for the workforce to be more scattered. And buyers place more demand on the sales reps to perform. The only way to make this possible is to put CRM into the palms of your employees. Making it easy to access the software from anywhere and perform their responsibilities on the move. This will only propel your brand even further down the road to success.
As workforce became distributed and remote almost overnight, many companies struggled to get people to access the basic systems they needed to work effectively. This wake-up call is going to be a huge driver of CRM systems as we head into 2022. Businesses will be looking towards CRM to fill the gaps that were uncovered in toto. This means accessibility from anywhere, anyplace and anytime is going to be important.
The truth is, we have now recognized the weaknesses of mobile CRM systems; with the reality of this acceptance, we can now advance much faster.
We are now witnessing a big shift to universal apps that work seamlessly across platforms, operating systems, and screen sizes to break things down. They make it easy for employees to transition between an online and offline working environment without hampering the discharge of their duties.
Also, customers are no longer tied to their computers. They expect access to data on the go via their phones and tablets. Hence the backing of CRM with cloud computing is crucial to the future of CRM. Since most CRM software is cloud-deployed, there is a need for enhanced security and intuitive interfaces.
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3. Customers are using their voices online:
With the advent of social media, customers are able (and willing) to talk about their business experience with anybody willing to listen. Customers no longer want to buy quality products or buy because you are a behemoth business name; they want a personal and authentic connection to the brands they buy from.
We get to live at a time we get to use social media as a tool" – Gigi Hadid
Since a negative review can go viral in hours and smear brands, many companies see social media as a threat. The better way to look at it will be seeing it as an effective way to personalize marketing, and it requires less work than other forms of hyper-targeted messages.
CRM software will incorporate social media channels within their platforms, allowing sales teams up-to-date commentary of discussions about their brand. Since customers yearn for connection, behaviour tracking tools can help businesses interact with their favourite social outlets.
Future CRM strategies will include tracking all comments, direct likes, shares and hearts in a place. Also, you will be able to gain more insight into the long-term social media trends and behavioural patterns of customers for future marketing campaigns.
CRM tools can tie all customer interactions in a place instead of the need for third-party tools. Thus, businesses can build sound relationships with customers and make more sense of their data (both current and future).
"CRM systems have grown and evolved so much over the last decade that in some cases, they now mimic ERP systems in some areas. This is great on the surface, but for a salesperson who is on the road and needs to focus on selling, or a customer service rep who is trying to find the right information quickly, the systems have become somewhat cumbersome" – David Dozer
The coming years will bring about a "renaissance of simplicity, where the focus shifts back to making things easy and simple to use," according to Dozer. CRM software will have AI functions that are accessible to non-technical users. When given a choice, people will adopt the intuitive capabilities and ignore things they do not understand.
Therefore, CRM systems must be easy to use to be truly effective. This can be achieved by simply seeking solutions setting themselves apart from offering that next-level experience.
5. CRM will join hands with IoT
Internet of Things is a fast-emerging game-changer in almost every industry, and we witnessed the integration of CRM and IoT on a grander scale than ever this year. The collaboration between CRM and IoT promises several advantages like higher customization, increased customer loyalty, improved customer retention, personalized marketing campaigns, etc.
According to research, IoT will continue to have a significant effect on how CRM is one. It is estimated that the number of IoT devices worldwide will increase to 39 billion worldwide by 2025. By using IoT feeds from devices, CRM software can derive advanced insights on customer behaviour. Businesses can also use these treasure troves of data to provide enhanced customer support and deliver personalized marketing strategies.
"CRM helps you to offer customers what they want. Not what they think they want." – Unknown.
Like it or not, CRM dominates the software market, and its growth can only increase.
The biggest takeaway from this article is using these trends to select the correct software this year. These trends will provide you with insight into your customer's thinking so you can e sure to adapt your CRM strategy and stay relevant in the competitive market.
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