How AI Will Revolutionise CRM

Patrick Navarro our consultant managing the role
Posting date: 10/9/2019 10:32 AM
If we can be sure of anything in today’s business climate, it is that new trends will emerge and disrupt, new technologies will continue to be developed and attract hype, and companies will be left to navigate a landscape of opportunity and uncertainty.

Customer Relationship Management is an upright concept or strategy to solidify relations with customers whilst at the same time reducing cost and enhancing productivity and profitability in business. CRM systems provide a well-defined platform for all business units to interact with their customers and fulfil all their needs and demands in order to build long-term relationships.

Every business unit has an emphasis on developing long-term relationships with customers in order to nurture their stability in today’s blooming market. Customer’s expectations are now not only limited to get best products and services, they also need a face-to-face business in which they want to receive exactly what they demand and in a quick time.

New Look CRM


CRM is vital for the success of any organisation that seeks to continuously build relationships and manage countless interactions with customers. Now CRM systems bring together customer Data from a multitude of different sources, delivering it to all customer-facing employees to provide a complete picture of each customer across all department

Today, there is a ton of available information across many devices and platforms. Companies need a way to integrate this “Big Data” into their intelligent CRM that can produce predictive results.

The Value of AI


Artificial Intelligence (AI) CRM systems built on Machine Learning algorithms now have the ability to learn from past experience or historical Data.

Having these insights at the disposal of any customer-facing employee (sales, support, marketing, etc.) empowers a business to build deeper relationships with its customers. As a result, integrating AI and Machine Learning with CRM can deliver more predictive and personalised customer information in all areas of your business. By predicting customer behaviour, companies can take personalised actions to avoid the use of invasive advertising and to provide material of real interest to each prospect.

There is no question personalising communications to customers has become critical. Today’s buyers demand more than a “spray-and-pray” email blast. A recent McKinsey study found that personalisation can lift sales by 10% or more. The analysis also showed that by personalising just 20% of email content, open rates increased more than 40& on average. Reply rates also increased a whopping 112%.

As a CRM stores all the information in one centralised place, this makes it a lot easier to analyse your performance as a whole. This helps businesses build a relationship with their customers that, in turn, creates loyalty and customer retention. Since customer loyalty and revenue are both qualities that affect a company's revenue, a strong CRM have a direct result in increased profits for a business. 

Those that use Big Data & Analytics effectively show productivity rates and profitability that are higher than competitors and those that put Data at the centre of their marketing efforts improve their ROI by 15-20%. 

AI and CRM


AI is becoming an ever-present theme across a variety of industries, from healthcare and retail to software development and finance. CRM vendors are no different; over the past year, numerous CRM vendors have introduced AI components into their product offerings.

AI will develop in parallel with user interactions using various touch points within CRM and evolve continuously to deliver more intelligent and personalised actions. Learning critical patterns will also enable AI-infused CRM to automate certain actions, decrease the manual work required, and empower sales and marketing professionals to work more efficiently and effectively.

The inefficient processes that hinder CRM will no longer be acceptable, and AI-powered automation will play a much bigger role in streamlining workflows.

The rise of AI presents businesses with a wide array of unique benefits and opportunities. It can empower them to provide better, more relevant experiences to their customers and forge bonds with them in a way that was simply not possible before. 

It’s estimated that 85% of businesses will start implementing AI solutions for their CRM by 2020. It seems inevitable that with further advancements, AI will move from a novelty tool to a must-have feature and dire necessity of every business.

If you’re looking for to build a team of CRM experts, or to take the next step in your career, we can help. Take a look at our latest opportunities or get in touch with one of our expert consultants to find out more. 

Related blog & news

With over 10 years experience working solely in the Data & Analytics sector our consultants are able to offer detailed insights into the industry.

Visit our Blogs & News portal or check out the related posts below.

HOW PROGRAMMATIC IS REVOLUTIONISING ADVERTISING

How Programmatic Is Revolutionising Advertising

With consumerism on the rise, and a drastic shift away from traditional avenues of advertising, the use of Digital Marketing and the demand for business to become more technically ‘savvy’ is continuously increasing. The extent of different digital media channels in the advertising space, as well as the recent evolution of approaches such as Programmatic Advertising, has caused confusion as to which approach is the best for businesses to adopt and for well versed Digital Marketers to reflect on what their next career step should be.  Irrespective, Programmatic is such a buzzword within the market at present and is widely predicted to become the future of display advertising. Despite this, many have a lack of understanding as to what it actually is. Whether you are looking for a career change or to embed Programmatic into your marketing strategy, here are some considerations: Defining Programmatic  Programmatic advertising is the automated process of bidding for advertising inventory to allow for the opportunity to display a relevant advert to the desired consumer in real time.  At a basic level, parties from the ‘supply’ side of programmatic will sell an impression referred to as ‘audience ‘inventory’ through a Supply Side Platform. Facilitated by the ad exchange, such inventory is shared with advertisers who have submitted their desired audience preference through a Demand Side Platform. Within this online, automated marketplace, all advertisers will bid within the auction and the highest ‘bidder’ will then win each impression. The advertiser, typically a media agency or in house team of specialists, will begin to target users through Programmatic Ads that can be online or Out Of Home (OOH). Redefining your advertising strategy  With pre-existing modes of marketing such as, newspapers, radio, TV and, more recently, social media and paid search; it is worth considering the additional ways in which Programmatic advertising can benefit your business. Rather than utilising Data-driven ‘trial and testing’ methods to assess what will attract audiences to your site, Programmatic advertising uses a personalised approach by only targeting users who have expressed an interest in specific products or services. The automated process of identifying target users enables this to be a lot less manual than traditional modes of advertising. As a result, this will save your business time and unnecessary resources dedicated to Predictive Analysis, which will particularly benefit smaller businesses who may have a limited marketing budget.  Programmatic advertising is also not just limited to online. The development of OOH has revolutionised the power, audience reach and impact of this long-standing method of advertising, allowing it to “bring data into the physical world” on a mass scale.  As well as delivering a single ad to the right user at the best time, Programmatic advertising can enable your business to target hundreds of relevant consumers based on their online activity and location. This form of audience targeting is still incredibly new to the marketplace and is continuing to expand. By 2021, it is anticipated that Programmatic will further bridge the gap between digital and offline media by programmatically purchasing tv adverts; representing approximately one third of global ad revenue. The future of advertising careers If you are looking for a long-term career within advertising, Programmatic is a great route to gain exposure within, given that it already dominates the industry, and looks set to continue to.  Due to such high demand and the lack of quality candidates within the market, Programmatic specialists are incredibly desired and retained by employers. As such, businesses are consistently searching for more talent within their team. Once onboard, they often invest heavily in training, personal development and internal progression.  There is often a misconception that Programmatic is not scientific, however, specialists often sit in Data teams and utilise Analytics software or Data Visualisation tools daily; extracting and manipulating Data. Server-side scripting is also a huge part of the role; if an ad is not displaying on a site suitably, the Programmatic team will be required to dive into the JavaScript or HTML code to troubleshoot the issue.  So, if you are looking for a Data-led vertical of advertising, Programmatic is a great career path. However, the supply and demand side are kept very separate due to the difference in tools utilised. Transitioning between the two can be incredibly problematic, especially further into your career so, if you are looking into a specific route, make sure you are making an informed decision. If Programmatic sales, inventory analysis and yield optimisation are appealing, the publisher side could be a great route. Alternatively, if setting up and monitoring campaigns or segmenting audience Data is of interest, I would advise starting agency side. Whether you’re looking to venture into a new aspect of digital media or require specialist talent within your team, we can help. Take a look at our latest opportunities or get in touch with myself at francescaharris@harnham.com to find out more.

Web Analytics Career To Data Science

HOW WEB ANALYTICS CAN LEAD TO A CAREER IN DATA SCIENCE

The Web Analytics world is evolving. What used to require an understanding of Google Analytics, some tag management and visualisation for presentation purposes has grown into something much more. Whereas Web Analysts may have once been lone players in a Marketing team, they’re now expected to sit as part of, and feed into, an enterprise’s Insight team.  This exposure to more comprehensive forms of Data Analysis has led many Web Analysts to explore what the next step in their career could be. Namely, should they move into a Data Science position? For those who are looking to make this move, here are some considerations: Technicalities and Technologies  Digital Analytics are not excluded from the debate over what it means to be a Data Scientist, especially given that some with a Data Scientist job title may in fact be Web Analysts, and vice versa. Many Web Analysts are now working with a number of Data Science tools, including SQL, Python, and R. By using these alongside Google or Adobe Analytics, they are able to form a comprehensive view of the customer, using different types of Data, in different forms, from different sources. However, there remains a gap between the use of these tools and actually working within Data Science.  The most logical leap for a Web Analyst to make is to a Customer Insight or Digital Insight role. This type of role would still involve the analysis of online Data, but would likely be paired with building models, Predictive Analysis, reviewing customer LTV and creating a picture of customer online, offline and post-purchase behaviour to enable better targeting and retargeting. However, the knowledge gap between Web Analytics and Data Science may be more significant than one would anticipate.  Your Current Position  As a Web Analyst, you may well sit within a larger Data, Digital or Customer/Marketing Analytics department. Your exposure to these experts is one of the best assets you have available. Use the environment you are in to learn, upskill and gain hands-on experience. Knowledge of the necessary tools and languages is unlikely to be enough to lead to a move into Data Science and by getting hands-on commercial experience, you drastically increase your chances of success.  If you are able to expand on the tech that you have already used, take advantage of this. Even if this is just in a consulting capacity, your ability to demonstrate a real-world application of your knowledge makes you significantly more appealing as a candidate. Plus, your knowledge of, and approach to, Web Analytics may actually work to your advantage when it comes to assessing Data quality. Consultancies and agencies often provide the best training opportunities and are more likely to allow you the opportunities to hone new skills. If you are fortunate enough to work in an environment like this, make the most of it. Attitude Is Everything It may sound like a cliché, but Hiring Managers are on the lookout for people that they know will benefit their business and attitude plays a huge part in this. Do not underestimate the importance that is placed on cultural fit during an interview process.  Whether you are looking to make a move internally or externally, you should demonstrate your intrigue and willingness to learn. If you already have a strong record of progression within your current career, this will benefit you moving forward. When it comes to preparing, take time to dive into the world of Data Science, attend events and meet-ups, and continue to widen your remit. If you don’t have exposure to Data Science at work then you will also need to be learning SQL, Python and R at home to ensure you have a firm understanding of all the relevant technologies.  Whatever role you are looking for, the worst thing you can do is not apply. One of the most common mistakes we see is analysts not applying to an opportunity because they would need to develop in some areas once in the role. If you are able to demonstrate the above attributes many enterprises, particularly agencies and consultancies, may still be willing to take you on. And, if you’re not looking to make a move, don’t panic; Web Analytics skillsets remain highly sought-after and valuable. Whether you’re looking for a new career in Data Science or your next role in Web Analytics, we may have a job for you. Take a look at our latest opportunities or get in touch with one of our expert consultants to find out more.  

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