Customer relationship management software (CRM) has been a fixture in the enterprise, electronically recording and indexing stakeholder information and interactions. In the past it’s mainly been used for reference purposes, however two advancing digital technologies – cloud computing and data analytics – may breathe new life into these electronic archives.
Addressing the potential for CRMs to discover new insights in old information is this infographic from Signal. Exploring the ways CRM data could be used by marketers and advertisers, a key utilisation is the ability to better target and profile customers, perhaps unlocking personalised ‘one-to-one’ customer interactions.
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.