Modern CRM is delivered as software-as-a-service and microservices, is modular, and offers APIs for easy access to enterprise applications. It empowers customer-facing personnel with the right data about their customers at the right time, in context, so that they can focus on nurturing relationships across journeys even as they cross channels and devices. Today:
- Modern CRM supports different business models and organization sizes. The CRM needs of a B2B company are different than those of a B2C company — likewise for a midsize company compared with an enterprise. CRM vendors are now better at accommodating the right size and complexity of organizations than in the past based on their feature sets.
- Modern CRM componentizes. Companies buy CRM to solve a discrete business problem, to modernize existing applications, or to serve as the foundational component of a business transformation initiative. CRM vendors increasingly fragment their front-office applications. This allows customers, ISVs, and systems integrators to leverage smaller pieces of functionality. This allows deep customization.
- Modern CRM verticalizes for agility. CRM vendors increasingly offer editions — templates, common process flows, data model extensions, and UI labels — designed to the requirements of specific verticals as well as sales and support teams with deep domain expertise.
- Modern CRM platforms become more strategic. Silos of data and processes within enterprises emerge as CRM fragments into discrete sales, marketing, and service applications. As a result, platforms that unify data, processes, and security within various enterprise CRM deployments become more important. Platforms also allow developers or business analysts using low-code tooling to create applications that extend capabilities within packaged CRM.
- Modern CRM ecosystems deliver value. CRM users on the front lines can’t serve modern customers using only core CRM. They struggle with duplicate work or manual call wrap-up procedures, which decrease their productivity and limit their effectiveness. CRM vendors have invested in application exchanges. These application exchanges contain an ecosystem of point solutions such as e-signature capture, automated data capture, dialers, and schedulers — to name a few — that extend and enhance the power of core CRM.
Read more about CRM trends in 2019 in my latest report.