The Evolution of Relationship Management Software
Relationship management software has been around for nearly 30 years, and it’s come a long way in that time. The best CRM systems on the market today are critical tools for organizations that are looking to gain a competitive advantage. With the right investment in the right technology, organizations can benefit significantly from the features and functionality of an excellent CRM system. While the future of CRM isn’t totally clear, decision-makers should take note of several trends that are shaping the way that customer relationship management technology can impact their businesses.
1. Improvement of Customer Insight
For decades, companies in the customer relationship management industry have been obsessed with collecting large amounts of relevant data. Now, however, the conversation has shifted away from quantity (a challenge that has been met) and toward quality insight. More than ever, companies need their software to provide useful information so that they can communicate and build relationships with customers. If your CRM system gives you meaningless numbers and empty data in lieu of valuable intelligence and insight, you need to find a better CRM that gives you vision into your customers’ motivations. The ability to understand customer behavior with quality insight can be a serious advantage for your business.
2. Mobile-First Technology
64% of American adults own a smartphone. For your organization’s purposes, that means millions of people are using their mobile phones to do research and make purchases. Your company should be just as comfortable in the mobile space as your customers are, and that starts with the ability to manage customer relationships anytime, anywhere on a mobile device. Excellent business is driven by speed, and your employees need to be able to engage with customers at all times. Today, the best available cloud-based CRM systems feature smooth, seamless interfaces that encourage quick and decisive action. Simply put, if your company uses a CRM that’s not 100% mobile-compliant, you’re already lagging behind the competition.
3. Unified Internal Structure
It’s indubitably important for a customer relationship management system to help your company to retain customers. But it’s just as important to utilize a system that helps you to retain quality employees. The various departments of your company (HR, marketing, sales) shouldn’t be competing against each other, but rather working together in harmony. A well-designed CRM will take advantage of this mindset by enabling easy collaboration across internal boundaries. Additionally, advanced CRM systems have the ability to analyze your employees’ actions, giving executives insight into both employee and customer behavior to which they might not otherwise have access.
Download our full whitepaper for even more trends in CRM technology – The Future of CRM: Five Trends to Follow