While most businesses already think that customers have a big say in the sales, the crm management scene is expected to seriously provide customers with much more power than they ever expected. This is because of the confluence of three vital forces namely the internet, globalization and rapid developments in India as well as China. Globalization is one tide, which cannot be stopped. The spectrum of global trade will see many new developments and various initiatives from organizations like NAFTA, EU as well as WTO will see huge influence and rapid expansion of trade worldwide.
The online world has seriously shaped and influenced the way customers buy these days. With social networking and social shopping becoming the norm, information and product reviews, customer service levels, customer relationship management, prices etc. all will be freely available for all customers to see.
The rapid growth and expansion of countries like India and China as service and manufacturing bases respectively also indicate that there will be many more affluent consumers in these countries, which entails that crm system implementation will see a rapid demand in such countries as well.
With customers having many choices compared to before, companies with good business automation as well as quick and efficient customer management are sure to thrive.
The future of crm systems indicates that employees will begin to take this aspect of customer relationship management as a personal commitment. With more companies realizing the importance of the frontline workers in shaping lead management, an increasing number of companies will chalk out incentives for such employees.
More companies will begin to realize that to get competitive advantage through their crm systems, they need to work backwards starting from customer experience to the processes, which go into it to make this possible. The key lies in enhancing business automation with more integrated crm solutions, which facilitate integrated functionality.
One of the other big trends in the crm solutions segment is that this industry is expected to see an exponential growth in the coming years. It is anticipated that the crm systems industry will experience a growth rate between five and ten percent every year. Hence, you can expect many more crm solutions for small business over the next couple of years.
Strategic Use Of Technology
In terms of innovation within crm solutions, core processes already have sufficient amount of business automation and so a reinvention of SFA may not be required really. Instead, there will be a greater amount of integration amongst customer management systems to provide customers the experience they are looking for. An increasing number of business analytics applications will focus on real time information transmission thereby helping better decision making.