Friday, April 19, 2024
Technology

Can AI and IoT Affect CRM? Just one in three firms possess ‘ambitious’ plans

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Obtaining customer relationship management (CRM) right has ever been critical, yet only a third of companies polled by advertising technician provider Wiraya say they have committed and ‘ambitious’ plans in place for their own systems.

The study, which polled more than 500 respondents accountable for CRM systems inside the united kingdom, discovered a relatively even split; 34% state they work in a ‘traditional’ setting, using it consistently and generally employing a CRM supervisor but with no specific plan, while 32% said they were ‘ad hoc’ without a immediate structure or organisational role, and 31 percent being ‘ambitious’.

Almost half (47 percent) of respondents stated improved client satisfaction was top of their business schedule, while a additional quarter (27 percent) said return on investment was key. Yet only 17% of the polled said their CRM work was ‘obviously’ contributing to the earnings of their company.

As a result, the vast majority (86 percent) of those polled said it was important to measure the profitability of the CRM operations.

“Many companies are still finding their feet when it comes to taking advantage of the benefits of a CRM system,” explained Sam Madden, Wiraya UK manager in a statement. “The increasing prominence of technologies like IoT and AI will go that extra mile to assist companies dynamically fine-tune their interaction with the customer, but in the meantime, basic aspects such as having a clear CRM strategy set up are essential.”

The AI angle is an interesting one; it’s among the most discussed technologies in the marketing mix with sellers including Salesforce recently getting in on the act. Nevertheless at a recent event, deputy managing director at CRM agency Amaze One, Janet Snedden, talked in maintaining the ‘human’ element alive.

“There’s a lot that marketing can find out from the ‘scientific method’ to develop our understanding of how we could design campaigns that provide longer term achievement and associations, not just one off clicks,” said Sneddon. “With our reliance on information, more and more is becoming algorithmic using programmatic communications the staple which often lose sight of the individual — how they feel, expertise and react.

“Within our 24/7 connected planet, direct and digital communication occurs in our private space and we can forget that we are reaching out to individuals, not robots,” she added.

Read more: By CRM to CMR: How to make things work in the age of the connected customer