The year is already in full swing. And one thing is for sure: the marketing industry is not standing still either. Quite the opposite actually. Many revolutionary developments are currently shaping the industry around customer relationship management.
Our trend outlook for CRM has become an annual classic and is gaining more and more popularity among marketers every year. In our CRM Trends 2022 webinar, we showed you what’s in store for companies this year in CRM and the role played by predictive CRM.
We discussed what developments marketers should expect and what you should do to be prepared for this year’s trends.
“Value-based CRM is the key to escaping the trap of the platform economy”
– Dr. Markus Wuebben, Co-Founder & CMO, CrossEngage
Tough Times for Performance and Acquisition Marketing
There are a couple of incidents that shift the focus in digital advertising: Amongst ongoing developments, Google’s FLOC (Federated Learning of Cohorts), Topics API, and Privacy Sandbox as well as Apple’s ATT (App Tracking Transparency) with iOS 14.5 weakened traditional performance marketing and made customer acquisition costs and CPC prices skyrocket on all big tech platforms last year. Moreover, with Apple’s iOS 15, users can now choose to hide their email address, open events, location, and IP address, making tracking and advertising additionally hard for advertisers.
The Bottom Line for Successful Customer Loyalty
The current developments make clear that the platforms will continue their rise and dominate product search and user acquisition. Also, user acquisition cost will at least remain on high levels and gathering (first party) customer data will be increasingly challenging. The consequence? Customers should stay loyal in the long term, and their individual wishes and rising requirements have to be met. Addressing users individually can only be achieved via CRM. And successful CRM facing poor tracking capabilities? Can only be tackled through creating real value – while managing customers by aggravated cookies or highly unreliable email response data is becoming more and more of an aberration.
Which Trends Are Actually Relevant in 2022?
There are some fascinating new trends on the agenda of a CRM specialist’s tool set. Some of them can be regarded as the consequence of the problems mentioned above. What is zero party data, for example? And why will they play an increasingly important role in CRM? How does CRM work without any data at all and why is live shopping on the rise? You find all the answers in the recording below.
Predictive CRM: The Shining Star in the CRM Sky
In the developments listed, there will be a decisive competitive advantage for companies that have dealt with one crucial concept: Predictive CRM. With its help, marketers can make reliable predictions about customer behavior to activate the most relevant audiences.
Predictive CRM analyzes previous customer behavior and plays out marketing activities in a value-oriented and customer-specific manner. In this way, customer loyalty can be strengthened and important opportunities for cross- or up-selling can be identified, which increases customer lifetime value in the long term. With Predictive CRM, the view of the customer is sharpened. It reveals who your customers are, what their preferences are, how valuable they are, and what they are likely to do in the future. But how to get started with predictive CRM? There are many simple use cases that can be quickly implemented. The important thing is to understand the importance of customer-centric orientation. And it’s important to get started in the first place. Our Co-Founder & CMO Dr. Markus Wuebben explains some starting points and many more trends and tricks in the webinar.