What can we expect from the CRM market in 2024?
In the current business scenario, marked by intense competitiveness and digitalization, Customer Relationship Management (CRM) software emerges not only as tools, but as a beacon guiding companies towards prosperity. These solutions, essential for success in any sector or size of business, today transcend simple contact management, positioning themselves as a strategic pillar for shaping interactions with consumers.
Also because of this potential, the CRM market has experienced constant and significant growth over the past few years. In 2023, that logic was no different. In a challenging economic context, the emphasis on acquiring and retaining customers boosted the relevance of the tool in company budgets, mainly because of the objective of improving interactions and relationships with consumers.
However, 2023 was not a year without challenges. Given the economic circumstances, investments in technology occurred more cautiously. Many companies faced the need to reduce costs, including staff cuts and acquisitions. This scenario reflects a change in the market, where growth at any cost has given way to prudent investments.
And in 2024?
Looking to 2024, the adoption of CRM software presents itself as a continuous challenge, especially with regard to user training and acceptance. The expectation focuses on the constant evolution of these tools, with the emergence of new technologies and trends. Keeping the systems up to date the clients' needs is therefore essential.
The integration of artificial intelligence (AI) into CRM solutions is also becoming a central focus. Although AI is gaining ground in the corporate market, there is still a big gap between the real needs of companies and the opportunities offered by innovation. Closing this gap is one of the key dilemmas for 2024.
As attractive as the technology is, concrete results are still lacking in the commercial sector. For this to happen, it will be necessary to understand how the entire volume of data produced by the solutions can interact with generative AI databases to streamline and optimize processes. In addition, corporations will also need to be educated in terms of CRM to be able to implement the culture of customer relationship management in the routine of sales teams. Without this, there's no data to make AI truly relevant.
Another growing concern is data security. With the increase in cyberattacks, ensuring the protection of customer information is a significant challenge for CRM vendors.
Challenges for better results
From this context, it becomes apparent that both trends share a common point: the need to handle and handle a high volume of data. More than that, these challenges lead companies to have to adapt quickly to changes, maintaining consumer confidence and satisfaction. Thus, making technology ever faster and more responsive, without giving up a safe environment, should lead the way in the sector in 2024.
In addition, gaining user support is a fundamental challenge. After all, they are responsible for building the information that will show the paths to the company's leaders. Thus, choosing the best resources involves options that can be integrated into daily operations, automating routines and facilitating data entry.
It is also important to highlight that solutions that depend exclusively on the team's initiative tend to be less effective in this universe, since they tend to fall into disrepair and not be effective. A consultative approach to the implementation of CRMs, with services adaptable to the specific reality of each organization and appropriate support, may be the key to a more efficient and assertive use of the system.
This article was written by Matheus Pagani, CEO and co-founder of Ploomes.