Each year, CRM Magazine releases its “CRM Top 100” issue, which features the leading companies, latest technologies, and hottest trends in CRM, and their impact on customer service, marketing, and sales. Here’s a highlight of what you should know.
Data is King – But That’s Just the Start
CRM Magazine refers to customer service, marketing, and sales as the three pillars of CRM. The research they conducted to complete this year’s list of the top 100 – including listing Validity in the CRM Top 100 Companies (we’re honored!) – provides many valuable insights.
The first is that data is still king, but it’s what companies can and should do with that data to make it accurate and actionable that remains a top priority. The issue showcases several ways companies are accomplishing such goals with the help of this year’s top companies, technologies, and trends in CRM.
Artificial Intelligence is Reshaping CRM
One of the more interesting takeaways from the issue was the growing role artificial intelligence plays in helping companies analyze and act upon their data. In fact, CRM Magazine noted that the influx of artificial intelligence was the biggest trend in CRM this year, having significant impact on all three pillars.
Virtual sales assistants can “analyze data to assist with lead qualification, forecasting, and follow-up. This frees up salespeople to spend more time on relationship-enriching activities that foster trust and boost sales.” – Ryan Moore, Peak Sales Recruiting
Here are several ways AI is reshaping CRM:
- Through robotic process automation, which allows automated solutions like bots and virtual agents to handle customer queries
- An increased use of AI as contact centers continue to evolve from voice-centric facilities to ones driven by multimedia, multichannel customer interactions
- The ability to rely on robots for routine tasks so managers and agents can invest their time in analytical activities and decision making
- Marketers using AI to help with more personalized messaging, media spend optimization, campaign planning, dynamic content creation, audience segmentation, and audience targeting
- The use of digital assistants to tackle manual tasks so sales teams can focus on selling
- The way sales teams can leverage AI to guide selling, offering personalized and automated responses to prospects’ questions, predicting which products and discounts will resonate most with individuals, recommending cross-sells and upsells, and serving up recommended content
Top Trends in CRM for Marketing
Another interesting takeaway was how much the marketing pillar of CRM is changing.
“Marketing in 2019 is all about data. And it’s less about the size of the data and more about its usability and usefulness.” – Leonard Klie, CRM Magazine
In the issue, CRM Magazine’s editor Leonard Klie reveals the top trends in marketing associated with CRM data. Some of them include:
- An influx of technologies that help companies ensure they’re complying with GDPR, and respecting consumer preferences, such as how consumers want to be contacted and the types of marketing offers they want to receive
- Major marketing platforms adding capabilities for handling consumer consent, data security, data breach notification, data governance, and database activity logging
- The shift to bring marketing activities in-house, perhaps to give companies greater control over their data
- A growing focus on more advanced uses of AI, such as dynamic segmentation, predictive analytics, and social listening.
Prepared for the Next Evolution of CRM Data Quality
As a company that provides data quality solutions and services, Validity knows how important it is to get data to a place where it can serve its best purpose for the entire organization and all three pillars of CRM. We are honored to be included in CRM Magazine’s Top 100 list and encourage you to explore how quality CRM data can be leveraged to improve customer service, marketing campaign performance, and sales productivity.