5 CRM Trends in 2016 (India)

5 CRM Trends in 2016 (India)

According to Forrester Research, today’s age is the “age of customer”. Today, the customer has greater access to information through forums like company websites, live chat, social media, self-service options and more and drives the CRM trends in the market. Customer is now able to voice his opinions and ensure that grievances are heard. To ensure customer loyalty in this competitive world, companies are increasingly adopting Customer Relationship Management (CRM) tools helps keep pace with the dynamic world and hence, to have a fair idea of the expected CRM Trends in near future.

 

Some Numbers that might interest you:

CRM market in India was valued at around INR 18 billion in 2014 and is estimated to grow at a CAGR of around 20.9% over 2014-19*. Global market for Customer Relationship Management (CRM) software stands at INR 1,397.6 billion in 2014 and is expected to grow to INR 2,639.7 billion by 2019. Asia/Pacific grew the fastest, with growth of 18.7% in 2014**. As per Gartner, ROI on CRM software solutions has been more than 600% *

Pure play vendors in the market recorded strong revenue growth as midsize and large organizations sought to build out digital market and customer experience. In 2015 digital marketers have mainly focused on video, mobile and social media channels & 2016 is set to unfold and is expected to bring new CRM trends.

 

Major Contributors in growth of the CRM Industry:

Large Enterprises have always been early adopters of technology and rightly so. In addition to the Large Enterprises, Medium Enterprises (ME) are fast adopting CRM and it is expected that at least 60% **of mid-sized businesses across services industry and 25% of mid-sized product enterprises will have invest in CRM by this year. Also, SMB is catching up with almost 25% **adoption rate in services industry.

Across the Small, Medium and Large Enterprises, Service Industry is expected to be the major contributor to growth of CRM industry. To learn more about how SimpleCRM can benefit Service Industry Click here.

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Social CRM

CRM with Social Media

CRM with Social Media

How would you like to have a house on the top floor of a high rise, with a spectacular view but no elevator in the building? This is exactly what you would experience on when you invest in a system which deals with just static and not dynamic data in today’s fast moving world!! The key to this is Customer Relationship Management(CRM) linked to social media
Customer Relationship Management(CRM) is the need of the day. Today’s customer is spoilt for choices. As soon as he plays with the thought of going for some product or service, there is a long list of providers in front of him. What is it that would differentiate you from others in this list? The answer to this is how quickly you reached out to him and how you completely delighted him/her with your knowledge about the requirements and suggestions based on age/occupation/geography and such other demographic factors. This is possible with help of a CRM tool.
However, the information that we have needs to be constantly updated and there should be a mechanism which helps us reach out at the earliest, to prospects as well as existing clients. This is where Social CRM comes to our rescue!!

What is Social CRM?
Social CRM (Customer Relationship Management) is use of social media services and technology integrated with CRM to enable organizations to engage with their customers.

Why Social CRM?

We can broadly look at two use cases of Social CRM:
Social Engagement with prospects: Social CRM tools allow businesses to better engage with their customers by listening to sentiments about their products and services, tracking their opinions on various features, getting an idea how influential that person is, in his/her social circle.

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