Technology serves as the backbone of customer relationship management. CRM integrates new technology to fast-track growth and organization. Implementing modern CRM designs is the way to a successful business.
The technology surrounding business and CRM is constantly changing to improve customer relations and sales. IoT and Artificial Intelligence (AI) are some of the major technologies that are steering the way businesses engage with their customers.
In this article, we discuss three rapidly evolving technologies that are greatly changing modern CRM designs.
Call centers strive for increased awareness of customer preferences for communication. Speech Application Technology uses unstructured data to gain an intermittent understanding of the customer.
Speech analytics play a major role in improving customer experience by mining and analyzing audio streams for the stress, emotions, and tone of the customer. Analyzing data in real-time when the customer is still interacting allows the technology to search for any clue that the customer frustrated, and is then used to immediately inform the agent the best way to address the issue.
Once integrated with modern CRM designs, speech analytics improve the product, customer experience, and customization based on the gathered data. With real-time data that shows an individual’s feelings such as irritation or happiness, it’s easier to create products and gauge customer decisions.
Speech applications also reduce operating expenses and are easily integrated with the organizational software structure. Dedication, hard work, and awareness are the major pre-requisites to produce consistent benefits.
Social Networking and Modern CRM Designs
Companies always desire insight into their customer’s true feelings. Social networking not only provides this, but it also takes customer awareness to a whole new level. Companies today learn more about a customer by going through a Facebook timeline or regular tweets than ever before. This allows organizations to come up with deals that provide the best customer experience.
According to WordStream, over 50 million businesses use Facebook pages and 2 million businesses use Facebook as an advertising channel. The total revenue of Facebook grew by 56% in 2016, and advertising revenue rose 59%. It is clear, then, that with statistics like these, social networking is the future of business interaction, product customization, customer awareness, and much more.
Embedded Analytics, Machine Learning, and Artificial Intelligence
Technology is constantly changing. Internet of Things, Artificial Intelligence, Machine Learning, and Analytics are some of the biggest ground-breaking innovations ever witnessed, all of which were only recently created.
Technology connects people now more than ever. This rapidly increasing number of connections gives birth to endless possibilities in the technology industry.
Embedded Analytics integrates analytical content in business processes. This creates a set of functions that are tightly incorporated into your existing processes or systems such as CRM, project management, social marketing, etc. It adds more sentience and analytical capabilities for thorough decision-making.
AI gathers data from every system, resulting in a targeted output streamlined to meet specific needs. This cleans out clustered results and enables fast and efficient decision-making.
Final Word on Modern CRM Designs
More and more companies are putting their efforts, mind, money, and trust in modern technology. Change is inevitable. If we have any hopes of evolving our business we need to innovate our modern CRM designs.