CRM adoption as the future of all businesses

Blind incentive-driven sales teams have reached their peak, they cannot progress any further with the same drive and methods. It seems like in the want for profit, the customer has been put behind and this is not at all a sustainable way to do business. Companies need to put their customer’s interests above their interest if they want to establish a good relationship with the customer.

 The thing is that as time is progressing so are customers and the market has to keep up with them. The way customers choose products or services across B2B and B2C has changed, the company they select, and the time at which they buy. This information needs to be collected and that is where CRM comes in.

Excel-based sales flows are full of mess and confusion. Maybe there was a time when this excel based method used to work, but now there are more progressive methods that need to be implemented such as CRM.

CRM or customer relationship management is a technology that can be defined as a company or a business managing its relationship with its current and potential customers. The target of CRM is to improve business relationships and keep them stable and growing for the long term. In the long run, it helps in improving the public image of the company and keeps the company profitable as well.

There are valuable insights in data collected across different platforms, such as social media leads i.e. leads from facebook/instagram ads and leads from aggregation platforms google leads etc. But what would be even better is a single software that gives more data than all of these platforms combined, that too based on modern technologies such as cloud, artificial intelligence, and machine learning, such software is a CRM software.

 Softwares like Microsoft Dynamics CRM offer some of the most insightful data among all other CRM platforms. Better the marketing data and insights, more effective will be the marketing strategies.

 Modern sales teams no longer prefer confusing or manual workflows, they want things to be as simple as possible and CRM helps in making things easier to understand. The user interface and user experience of a CRM software is designed such that it is easy to understand by everyone. With features like autodialer that aim to reduce the amount of manual data-entry work that your team members have to put in.

Smartphone and internet penetration have created the space for amazing user-friendly CRMs that are elegantly designed and make intuitive sales workflows a reality. This will lead to the field of sales becoming more interesting and creative for individuals.

 The significance of CRM softwares is also going to increase a lot in the future as they are going to become the sole source of truthful data. The dependency on these softwares will also increase, which can be a con as there will be no other way to confirm if the data these softwares are generating is true, but if the technology advances to a level where it can be assured that the data from CRM softwares is completely true, then it would prove to be a great thing for businesses as they would not need to give their time to multiple platforms to collect the same customer data.

 It is predicted that the CRM market is to grow at a 13.7 CAGR through 2022 globally according to Gartner Estimates. And according to the latest data for 2022, 59 percent of customers say that they are more likely to remain a customer of those companies which know about them, and with which they have a good relationship. Pharmaceutical companies spend about 20 to 30 percent of their revenues, just on improving their relationship with their customers.

So, the conclusion is simple, CRM is still in its early stage if we talk about adoption, but it is surely going to be the future of all businesses as it is changing the way businesses work. The rate of adoption is great, the technology is there, and it is just about time when CRM will be completely adopted across the globe among all companies.