As the new year is coming this is also the moment to think about new business challenges for 2020. The demand for CRM software solutions grows as companies seek new ways to analyze information from a growing customer base. Along with its growth, CRM continues to evolve, as well. The top CRM trends 2020 involve technology and its capabilities to aggregate customer data and transform the customer experience.
This is the reason why we will give you several predictions for CRM use in the upcoming year, including rising CRM use from new markets, new features and integrations, and the impact of wider tech trends on CRM.
Barriers for CRM “newcomer” users decrease
As a reminder, a CRM, among others, helps businesses track and manage sales interactions in a single system of record. A CRM will record interactions between your business, prospects, and existing customers.
Three-quarters of sales professionals (73%) use technology to close more deals and 97% consider sales technology “very important” or “important” (Read more about it: LinkedIn State of Sales, 2018). However, it means that there are still one-quarter of sales professionals who are scared to use technology to help them to close deals and improve their productivity.
In 2020, the challenge will be to show them that a CRM is easy to use and that this is a time-saver as it will allow them to focus on added-value tasks, decrease their administrative tasks and focus on their core business: sell.
CRM is more and more sophisticated
The most requested CRM features remain the common ones:
- Contact and interaction tracking management
- Document management
- Agenda and schedule/reminder creation
- Monitoring of the sales pipeline and funnel
However, more and more CRM users want slightly more advanced functions such as:
- Sales and invoicing automation
- Visual and customizable reports and analytics
- Project management tools
- Marketing tools (Social Media automation, Data analytics, email tools…)
New customers do not want anymore a CRM with basic and common features, but they are also looking for a solution that is flexible and that is extremely good at solving specialized and sectoral needs.
This is the case for the law firm sector for which Efficy created a tailored-made solution. Thanks to the “Chrono” features, they keep track of all the time they spent on their cases. A billing module also allows them to edit the invoices directly after following a parameterizable validation process. This law sector which was known for being reluctant to new technology is now moving forward with a dedicated solution.
Another good example is social housing sector. They rely on direct contact with property managers, but they also want all their employees to be able to address each tenant request efficiently. That’s the reason why they choose Efficy to manage all their incoming information (between 2,500-3,000/month) they have from: requests, administrative or technical, from existing tenants, former tenants, housing applicants…
The results are clear and measurable. It improves efficiency in request management, it reduces average request processing time, there is greater consistency in the answers offered to tenants and last but not least they’re now more efficient in information sharing which is key in their business.
More automation process & integrations with a CRM
Firstly, to stay innovative and get new customers, CRM needs to offer advanced automation features. More organizations are likely to focus on process automation using their CRM in 2020. This could include using chatbots to communicate with customers and solve help tickets automatically. With automation, these companies can offer high-quality customer services while optimizing operational costs. Then it is key if these automation features are already included in a CRM.
Secondly, CRM has to be connected to all other tools and processes in your organization. From your email marketing tool to your invoicing system, a company needs to have two-way syncs set up between tools that store customer data and a CRM. With Efficy, it’s already the case as there are two-way syncs with around two hundred apps.
Let’s take an example with the marketing where it’s crucial to come from an omnichannel strategy to a one channel strategy. With the rise of sophisticated CRMs and core tech tools, sales and marketing teams can get away with using fewer tools than before. With a good CRM you can now do these several tasks in one place:
- Automate and manage marketing actions (e.g. mass mailing, social media posts & planning…)
- Analyze the behavior of digital customers
- Generate and track leads
- Build a qualified and segmented database
Finally, with a CRM you can create a corporate repository. Concretely it means with Efficy’s solutions it offers you the opportunity to have electronic document management (EDM) features which make sharing resources and templates easy. Why would you do this? So that you are telling a more coherent story, based on data which is always up-to-date.
CX is king”
Customers say the experience a company provides is as important as its products and services. Indeed, customers expect companies to understand their needs and expectations. According to Gartner, “Customer Experience Is the New Battlefield” and in a recent survey they have done we have seen that 75% of Organizations increased Customer Experience technology investments in 2018.
To provide the best customer experience, a company needs to remember previous conversations with a customer and adjust communication accordingly. Therefore, customers also expect consistent interactions across departments.
Having a CRM and connected tech syncs are the best way to enable this, as it allows different team members to store customer data about all previous conversations and known preferences. According to Capterra, 47% of CRM users said that their CRM had a significant impact on customer satisfaction and retention. Indeed, customer teams can access a 360-degree view of the customer to provide the most personalized experience. And management can access valuable data on performance across the board.
Large CRM choice: Focus on flexibility and local presence
There is a large range of tools competing for consumer attention. Customers are choosing from a diverse market more than 300 CRM software solutions according to G2, with tools that are made for both generalized needs and specific niches and requirements.
Our advice would be to choose a CRM which answers your specific needs and which is flexible. Finally, it’s crucial to find a company which is present locally to answer your questions, where people speak your language and understand your cultural needs. At Efficy, we have 7 regional offices all around Europe and we’re present in more than 33 countries. If you want to know all the solutions by sector that we have you can have a look at this page or go here to see all our features.