Evolution of CRM Infographic. Customer relationship management software (CRM) has been a dominant tool for organisations and continues to evolve. Many organisations have not realised the full potential of their investments in CRM. Large scale projects have often led to disappointing results. But there is no doubt that CRM systems are evolving as integrations become easier in the cloud.
Machine learning and AI offer the capability to unlock the full potential of CRMs to discover new insights in old information. This evolution of CRM Software infographic explores the ways CRM data could be used by marketers and advertisers. A key capability is the ability to better target and profile customers, offering the potential for greater personalisation. In essence delivering better customer experiences.
Other insights include:
- Digitising filing cabinets and rolodexes, the term ‘CRM’ was coined in the mid-1990s.
- Over the next year, the total size of the CRM market is projected to reach US$36 billion.
- By 2018, 62% of CRMs will be hosted in the cloud.
The following two infographics illustrate both the history and evolution of CRM software.
The History of CRM Software
The following infographic traces the history of evolution of CRM infographic.
Evolution of CRM Infographic
This evolution of CRM infographic just illustrates how CRM has changed to date. The future of CRM presents a very different set of capabilities for organisations and customers. As AI, machine learning evolve and integrate into these systems. The level of segmentation, personalisation and adaptive pathways will present new and exciting ways to deliver more engaging customer experiences.
The sets of customer data that will be available will grow exponentially as devices become connected. The IOT will become a network of interactions that relate to how customers behave and use products and services. The other dimension of these convergent technological trends is the development of new services.