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Advanced Trends - Customer Relationship Management
- 8. Pro’s Con’s Cost-Effectiveness: Cloud CRMstypically have lower upfront costs compared to on- premise systems, as they eliminate the need for expensive hardware and infrastructure. Internet Dependency: A stable internet connection is crucial for accessing and using a cloud CRM, which can be a problem in areas with poor connectivity. Scalability: Cloud CRMs can easily scale up or down based on your business needs, making them suitable for both small startups and large enterprises. Security Concerns: While cloud providers offer security features, data breaches can still occur. It's important to choose a reputable provider and understand their security protocols. Accessibility: Access your customer data from anywhere with an internet connection, enabling remote work and collaboration. Potential Vendor Lock-in: You may become reliant on a specific cloud CRM provider, making it difficult to switch providers later. Automatic Updates: Vendors handle software updates, maintenance, and security patches, reducing the burden on your IT team. Customization Limitations: Cloud CRMs may have limitations on customization compared to on-premise solutions. Integration: Cloud CRMs can integrate with other business applications like marketing automation tools, accounting software, and e- commerce platforms. Data Privacy: Data privacy regulations can be complex, and it's important to ensure that the cloud CRM provider complies with relevant laws. Faster Implementation: Cloud-based CRMs are generally quicker to implement than on- premise solutions. Pricing Complexity: Cloud CRM pricing models can be complex, with tiered pricing and various add-on features that can increase costs.
- 10. Emerging Trends inCRM and ITSM Emerging trends in CRM and ITSM include increased AI and automation, a focus on personalized customer experiences, and the integration of various technologies for enhanced efficiency and insights. CRM is seeing a rise in AI-powered features, omnichannel strategies, and social CRM. ITSM is trending towards experience management, self- service IT, and integrated frameworks like ITIL and DevOps.
- 11. AI andMachine Learning: AI is becoming integral to CRM, offering features like predictive analytics, intelligent automation, and personalized customer insights, according to Vtiger, and SAP. Omnichannel Customer Experience: Businesses are focusing on providing seamless and consistent experiences across all customer touchpoints, including social media, email, and mobile. Social CRM: Integrating social media data into CRM systems helps understand customer behavior and preferences better. Cloud-Based CRM: Cloud solutions offer flexibility, scalability, and reduced infrastructure costs compared to on-premise systems. Hyper-Personalization: CRM systems are leveraging data to create highly personalized experiences for each customer. Automation: Workflow automation streamlines processes, saving time and resources. Self-Service CRM: Empowering customers to find information and resolve issues themselves through self-service portals. IoT Integration: Connecting CRM with IoT devices provides real-time data and insights. Advanced Analytics: CRM systems are incorporating advanced analytics to provide deeper insights into customer behavior and business performance. Emerging CRM Trends
- 12. Low-Code/No-Code CRM:Platforms that allow users to customize and build applications without extensive coding knowledge are becoming more popular. Mobile CRM: Mobile access to CRM systems is essential for sales and customer service teams on the go. Voice Recognition: Integrating voice recognition and speech-to-text technologies enhances efficiency in sales and customer service. Marketing Attribution: Tools that track the effectiveness of marketing campaigns and their impact on sales. Emerging CRM Trends
- 13. Emerging ITSM Trends Experience Management: Focusing on improving the overall employee and customer experience with IT services. Self-Service IT: Enabling users to resolve their issues independently through knowledge bases and self- service portals. Shift-Left Strategy: Moving IT support tasks to earlier stages in the service delivery process to reduce resolution times. Integrated Frameworks: Combining frameworks like ITIL, DevOps, and others to create a more holistic and agile approach to service management. AI and Machine Learning in ITSM: Using AI and ML for automation, predictive maintenance, and improved decision-making.
- 15. Salesforce AI Salesforce’s AIcapabilities, branded as Einstein Analytics, integrate advanced AI functionalities into the CRM platform. Features include predictive analytics, automated insights, intelligent recommendations, natural language processing, and image recognition. These tools help businesses automate processes, gain deeper insights, and personalize customer interactions. Key Benefits: Predictive Analytics Automated Insights Personalized Customer Experiences Enhanced Productivity
- 16. HubSpot AI HubSpot’s AItools enhance its CRM platform with features such as predictive lead scoring, content optimization, automated customer segmentation, and chatbots. These AI-driven tools help businesses improve marketing efficiency and effectiveness. Key Benefits Predictive Lead Scoring Content Optimization Automated Segmentation Chatbots
- 17. Zoho AI Zoho’s ZiaAI assistant offers predictive sales forecasting, anomaly detection, sentiment analysis, workflow automation, and conversational AI features. Zia helps businesses automate tasks, gain insights, and enhance customer interactions. Key Benefits Sales Forecasting Anomaly Detection Sentiment Analysis Workflow Automation
- 18. Microsoft Dynamics AI MicrosoftDynamics AI provides advanced sales insights, predictive analytics, customer sentiment analysis, and relationship intelligence. These features help businesses enhance their sales strategies and customer relationships. Key Benefits Predictive Analytics Customer Sentiment Analysis Relationship Intelligence Sales Insights
- 19. Freshsales AI Freshsales’ FreddyAI offers features such as lead scoring, sales forecasting, email and chat automation, and predictive contact scoring. Freddy helps sales and support teams work more efficiently by automating routine tasks and providing actionable insights. Key Benefits Lead Scoring Sales Forecasting Email and Chat Automation Predictive Contact Scoring
- 20. Autonomous service management refersto the use of artificial intelligence (AI) and automation to manage and deliver services with minimal human intervention. It involves using AI systems to handle various service- related tasks, from basic customer interactions to complex issue resolution, and even predicting and preventing issues before they arise. The goal is to enhance
- 22. AI-powered automation:Autonomous service management leverages AI and machine learning to automate tasks like data analysis, issue identification, and service delivery. Reduced human intervention: The aim is to minimize the need for human involvement in routine tasks, allowing service teams to focus on more strategic and complex issues. Improved efficiency and speed: Autonomous systems can handle multiple customer interactions simultaneously, leading to faster response times and increased operational efficiency. Enhanced customer experience: By providing quick, accurate, and personalized responses, autonomous service management can improve customer satisfaction and loyalty. Continuous learning and adaptation: Autonomous AI systems continuously learn from data and adapt to changing customer needs and business environments, ensuring they remain relevant and effective.
- 23. 1. Autonomous UserAccess Management: Tools like Lumos automate the process of onboarding and offboarding users, ensuring they have appropriate access to resources when they join and lose access when they leave. This reduces the burden on IT staff and improves security and compliance. 2. Autonomous Customer Service: AI-powered agents can handle a wide range of customer interactions, including answering questions, providing support, and even offering personalized recommendations. They can manage interactions across multiple channels like chat, email,
- 24. 3. Autonomous DatabaseManagement: Autonomous databases automate tasks like scaling resources, patching security vulnerabilities, and tuning performance, freeing up database administrators from routine tasks and improving database reliability and security. 4. Autonomous Data Management: Autonomous data management solutions automate tasks like data protection, backups, and recovery, making the process more efficient and secure without requiring manual intervention
- 25. 5. Intent-Driven NetworkOperations: This involves using AI to translate business goals into network configurations, allowing the network to adapt and optimize itself based on changing needs. 6. Autonomous IT Operations: AI agents can autonomously handle tasks like alert triage, root cause analysis, and even procuring hardware and software, streamlining IT operations and improving resilience
- 26. 7. Autonomous Agentsin IT Service Management (ITSM): AI agents can automate repetitive tasks, enhance communication during major incidents, and improve overall IT service delivery. 8. Autonomous Agents in Enterprise Service Management (ESM): ESM can be applied to various business functions, including accounting and finance, to automate expense management, invoice processing, and payment tracking. 9. Autonomous Agents in Customer Service: They analyze customer data, personalize interactions, offer proactive support, and manage interactions across multiple channels
- 28. CRM analytics takesthe data collected in a CRM system to uncover deeper insights, predict trends, and make data-driven decisions. Unlike CRM reporting, which organizes and presents data, CRM analytics goes further by interpreting that data to identify patterns, forecast future outcomes, and recommend actions for business growth
- 30. This integration connectscustomer-facing social media interactions (via CRM) with backend IT service workflows (via ITSM). It ensures that customer issues raised on platforms like X (formerly Twitter), Facebook, or Instagram are automatically logged, tracked, and resolved through ITSM systems like ServiceNow, BMC, or Jira Service Management. WHAT IT MEANS
- 31. Facilitating customersegmentation: The process of categorizing current and potential customers according to their needs, behaviors, or preferences—customer segmentation makes it easy to run targeted ad campaigns to specific groups. Streamlining team collaboration: By embracing the social media platforms that your team already uses, social CRM makes it easy to communicate and collaborate with teammates in one system. Improving knowledge of consumer trends: Learning about the trends and patterns of modern consumers lets you know what products you should develop, when you should launch them, and how you should advertise them.
- 32. Creating abrand identity and continuity: Social CRM benefits extend to brand recognition. Social media is a great tool to create and promote your brand identity, company culture, and mission statement, and most CRM platforms provide this kind of continuity. Strengthening day-to-day workflows: Some CRM solutions for social media provide marketing and sales cycle automation by analyzing customer trends and interactions, thus streamlining the entire process and bolstering profitability.
- 33. Improving customerretention: Modern social media can be used to engage customers, provide service as needed, and build a reputation based on trust. Centralizing customer records: Storing all of your customer records within a centralized platform helps your sales representatives when it comes to nurturing and pursuing new leads, closing deals, and following up with new or prospective clients.