Last year, the global CRM market It exceeded 58.8 billion dollars and everything indicates that it will grow at an annual rate of 13.9% until 2030 according to calculations by Grand View Research. However, despite the multiple benefits offered by these tools, S4G Consulting calculates that 60% of companies do not fully take advantage of all their functionalities.
The company has evaluated the investment priorities and concerns of more than a hundred clients to reveal the seven CRM trends to make 2023 a more productive and efficient year, given the challenges of economic uncertainty and the start of the countdown. for a world without cookies.
“Given the moment the economy is going through globally, increasing efficiency in business processes and taking advantage of technological investment have become key factors for business success. For this reason, in 2023 growth strategies based on data analytics, making the most of our CRM, will be key to being competitive and gaining market share“, says Javier Heitz, CEO of S4G Consulting. “The application of technology and artificial intelligence for the collection of data, decision-making and the personalization of offers according to the tastes and preferences of consumers will be essential to attract new customers, retain existing ones and increase the efficiency of the bells“, Add.
From S4G Consulting they point out the seven keys to CRM for 2023:
- Not getting the most out of CRM. CRM systems have evolved in recent years offering a wide range of functionalities, technological improvements and specific solutions to cover certain needs. S4G Consulting estimates that almost two thirds of companies are not getting the most out of their CRM because they are not familiar with all its functionalities or because they are not clear about how the technology can solve their business needs. Without the need to invest more, they could improve their processes and sell more efficiently.
- CRM for business verticals. In line with the previous point, in 2023 we will witness the proliferation of CRM solutions adapted to meet the specific business needs of sectors such as logistics, catering, manufacturing, hotels, real estate, health… Compared to horizontal CRM, we will see how the solutions are they complete and customize with functionalities and terminologies according to each vertical.
- Customer 360 in real time. CRM continues to evolve at cruising speed. If the inclusion in the cloud was a very important advance that allowed to have a 360 vision of the client in an omnichannel way and from any place and device, the arrival of real-time represents a drastic change that increases the range of opportunities. The appearance of real-time CRM solutions such as Salesforce Genie will allow the creation of a multi-channel customer relationship environment through different live channels, streamlining and allowing all departments to carry out the appropriate actions to offer a fast and reliable service. quality.
- Increased use of AI. It is a fact that 2023 is going to be one of the key years for the inclusion of artificial intelligence in business processes. We’ve been talking about incorporating machine learning algorithms and artificial intelligence for some time, but this year the use of AI in CRMs is going to be crucial. And it will be both for data collection, with the automation of tasks and processes, as well as for analysis, for the detection of patterns and trends or for making predictions. The ultimate goal is hyper-personalization to have a 360 view of the customer and to be able to offer them services and content how, when and from where they want.
- Reacting to a cookieless world with CDPs. With the countdown towards the end of cookies and third-party data, 2023 is going to be a key year to reorient strategies and objectives towards First Party Data. This will force companies to bet on customer data platforms that will allow marketing and sales managers to create personalized campaigns tailored to the interests, location and preferences of their customers, increasing the return on actions. A complex challenge that requires much fine-tuning of actions to improve personalization and customer experience, but without crossing the limits of privacy and complying with information transparency obligations. And it is that marketing campaigns based on the real-time needs of people can help companies increase their sales between 15% and 20% according to McKinsey.
- CRM to achieve the Net Zero objective. Achieving carbon neutrality quickly is possible thanks to solutions such as Salesforce’s Net Zero Cloud platform for the analysis of carbon emissions related to energy consumption and travel of the company, as well as its suppliers and collaborators . By collecting all the data in a single platform, the carbon footprint in scope 1, 2 and 3 emissions can be effectively quantified in order to design a climate action plan. According to a McKinsey study, the global market for carbon credit credits will grow to $50 billion by 2030 as organizations accelerate their “Net Zero” strategies and commitments.
- The CRM of things. According to Statista, by 2023 we will exceed 15 billion connected devices. Therefore, its integration into CRM is inevitable. By incorporating the data from these devices, the CRM will become the best ally to advance in the so-called internet of behavior, to have a better knowledge of the customer. Additionally, the interaction of IoT devices with the CRM will facilitate predictive maintenance.
