Who is the perfect customer? It is someone who circles your company's wheel at the greatest velocity. These customers are constantly attracted to the company's offers, they actively engage with the business, and are consistently delighted by the outcome. They are even delighted enough to pursue new offers down the road because they trust that your product or service will play a role in their success.
When a customer is loyal to one company, they are not easily swayed by price or availability. They would rather pay more and ensure the same quality service and product they know and love, and all of these are possible with the right loyalty solutions
You may ask how could you build a loyalty platform for your customers? To answer you, here are five loyalty CRM trends to consider this 2020.
1. The merging of CRM, big data, and artificial intelligence
You simply cannot ignore the importance of big data in today’s time. In the upcoming years, the success of CRM will rely on the fact that how effectively it can utilise big data and create a personalised experience for customers. With the integration of artificial intelligence (AI), CRM is evolving and leading towards a sophisticated system. The latest CRM trend is all about collecting and analysing customer data from various touchpoints, including social media, marketing campaigns, sales, and contact platforms.
These analytics tools can provide actionable insights to strengthen strategies, enhance your CRM software in Malaysia
to forecast demands, and fuel predictive analytics. The deadly combination of big data, AI, and CRM will provide 360-degree insights on their customers that will increase the chance of conversions.
2. Harnessing the power of voice technology
The next big CRM trend is the adaptation of voice technology. Even though sales meetings have gone mostly virtual, sales reps are still mere humans. The rest of their time is spent on administrative tasks, such as data entry, managing emails, creating follow-up tasks, and more. To increase productivity and reduce redundant work, voice technology is the answer. The advancement of speech recognition and natural language processing can help with logging calls, spotting key phrases in a transcript, and generating call summaries. Furthermore, it can help to automate tasks like scheduling meetings, sending follow-up alerts, and much more.
3. Making first-class customer service the priority
Customer service has always been the number one deciding factor for customers, whether to build long-term relationships with the brand or not. Companies trying to meet their customer’s expectations even with contact centre solutions
is quite a challenging task. One particular instance is how customers expect companies to communicate with them in real-time. But in reality, the response time still remains long in most cases.
To meet this demand, good CRM software in Malaysia is coming up with solutions like AI-driven chatbots. The primary purpose of chatbots is to reduce the workload of customer representatives. It can be used to handle common queries by customers, greet customers when they call and provide assistance to agents with recommendations when they are tackling customers. This new CRM trend will enable customer service reps to concentrate on more complex issues.
4. Boosting relationships with mobile CRM and social CRM
Mobile CRM and social CRM are not new technologies. However, they are gaining momentum. The sales representatives are always on the move. The need for mobility and the advancement in mobile technology indicate a push for CRM software to provide more mobile functionalities.
The new-age CRM technology will be fully functionally on smartphones, tablets, and other devices that are connected to the internet. Not only that, but we also cannot ignore the importance of social media platforms. Social CRM refers to the integration of CRM with social media channels to widely engage with your audience and customers. Customer’s increasing demand for constant connectivity and personalised experience with companies has given rise to social CRM. The new CRM trend will not only collect information from social channels but also help in designing experiences that customers will offer value in exchange for their attention.
5. Creating a single, shared view of customer identity
With the power of the Internet of Things and AI, the future CRM platform will offer advanced integration with various data sources and other third-party applications. This is necessary so that CRM will be empowered with even more information on customers to expand its utility.
This new CRM trend will enable the system to track external interactions with millions of customers at the same time. The most significant advantage will be that marketers have a complete, unified view of customer data sources.
Adopt CRM solutions to provide better customer service and streamline customer loyalty
Customer loyalty is the act of choosing one company’s products and services consistently over its competitors. By getting ahead of CRM trends, you will be able to gain customer loyalty and take your business to newer heights.
If you are looking for CRM loyalty program solutions in Malaysia, schedule an appointment with us, and let our experts help you with your business needs today.