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The Future of CRM

A guest post from Ashley Verrill of Software Advice including insight on a topic close to our heart, How ‘Curated Data’ Will Wrangle the Big Data Problem

Recently, I rallied five of the industry’s top thought leaders to devise the second edition of the CRM Next 5 in 5 report by Software Advice, a website that reviews CRM solutions. The report lists five technologies that will change customer relationship management in the next five years.

In the 2012 installment, our group talked a lot about advances in Big Data, Social and Mobile. The same themes were repeated this year, but the specific ways each is applied in the CRM context has evolved. Here’s a summary of this year’s Next 5 in 5:

‘Curated Data’ Will Wrangle the Big Data Problem
Big Data poses to two major problems for business: volume and velocity. There’s so much of it out there, it’s difficult to know when you have something worth using; and by the time you do figure out, the opportunity for
using it has passed.

To tackle these obstacles, our experts foresee more services emerging that curate data from various sources to address specific business problems. This might include data from providers like IP address registries and Dun and Bradstreet, plus social sharing behaviors. This information would then be fed into your CRM with an alert to act at the moment when it matters most.

Crowdsourcing Will Leverage Contacts in New Ways
Many times, companies don’t interact with customers in their database after the sale closes, unless that contact needs support. This is a huge missed opportunity when you consider these same people are likely your best chance at spreading positive word of mouth.

Our experts foresee technology developers releasing new services for leveraging these existing customers for crowdsourced marketing. These products might automatically identify customers with the highest propensity to advocate for your company in social media, then arm them with tools for doing so.

Improving Data Will Monetize Social Media Management
Social media is one of the most important sources of actionable customer data. Analysts can uncover what prospects are talking about, when, and even where. This kind of context can considerably increase channels of finding new leads and closing the deal faster.

Few products today have actually proven success mining for leads via social. The process is more often extremely manual and inefficient. This is primarily due to rapidly evolving open social API’s. Because they are changing so quickly, the data is often imperfect and unreliable. As a result, developers focus most of their energy compensating for these bugs instead of empowering technology to generate revenue. This will change as the APIs improve.

Voice-Enabled Technology Will Truly Mobilize CRM
More and more business is conducted on smartphones and tablets these days, yet few CRM apps have really capitalized on the unique capabilities of these devices – namely voice. Apple was one of the first to use voice-enabled mobile navigation with Siri; but as any user will tell you, she doesn’t understand everything and her suggestions are never perfect. As a result, users don’t fully trust voice-enabled apps–yet.

This will change over time as Natural Language Understanding (NLU) technology improves. NLU determines the intent and context behind spoken words. Our experts expect mobile CRM developers to hop on board as soon as they are confident these apps won’t annoy the user.

Predictive Analytics Will Automate Personalized Marketing
Personalized marketing is one of the curated data service niches our experts see the biggest opportunity. This means combining CRM data with online behaviors to automatically cater marketing and sales to a specific person. Think of it as the next step in Amazon’s suggested titles, or Hulu’s “what to watch next,” both of which are based on what buyers and TV watchers like you have also liked and watched.

This personalization will extend to other avenues such as onsite navigation – you might be served offers, content and live chats based on what has moved other site visitors like you further down the sales funnel, faster.

You can read the full 2013 report here. What other technology advancements do you see evolving how we use

CRMs today? Chime into the conversation here.

The following five analysts contributed to this research:
• Beagle Research Group CEO Denis Pombriant
• CRM Essentials Owner Brent Leary
• ThinkJar Principal and Founder Esteban Kolsky
• Initium LLC / Innovantage Founder and CEO Brian Vellmure
• 56 Group LLC Owner Paul Greenberg

Thumbnail image created by Daniel Voyager.

About Ashley Verrill
Ashley Verrill is a market analyst at Software Advice. She has spent the last six years reporting and writing business news and strategy features. Her work has appeared in myriad publications including Inc., Upstart Business Journal, the Austin Business Journal and the North Bay Business Journal. Before joining Software Advice in 2012, she worked in sales management and advertising. She is a University of Texas graduate with a bachelor’s degree in journalism.


Key Takeaways for Entrepreneurs from the Dallas Digital Summit

Right Intel presented at the Dallas Digital Summit – great insights in this article on “being an expert” and “creating and curating”

The first annual Dallas Digital Summit rolled through North Texas earlier this week as an excellent opportunity for digital marketers, agencies, and entrepreneurs to learn from and connect with industry experts. It was well attended, with over 700 people in the audience, and featured speakers from tech giants like Twitter, Google, Reddit, StumbleUpon, and many others. A wealth of…

Read more from the source: Tech Cocktail

The Top 10 Trends For Marketers, According To JWT

JWT’s annual Trends Report identifies play, privacy, and your insane amount of stress as key among trends for 2013.

The importance of play, the effects of stress, and the increasing concern about private spaces in a public life may all have significant impacts on the marketing landscape in 2013. According to agency JWT, these are among the top 10 trends outlined in its 2013 Trends Report.

Informed by quantitative, qualitative, and secondary research, the eighth annual forecast is reflective of how new technology continues to influence communication, with major shifts tied to warp-speed developments in mobile, social, and data technologies.

Says the report’s author Ann Mack, Director of Trendspotting at JWT, “Many of our trends reflect how businesses are driving, leveraging or counteracting (technology’s) omnipresence in our lives, and how consumers are responding to its pull.”

Read more from the source: Co.Create

Despite sharing buttons, people are more likely to cut and paste

82% of all content sharing is done by cutting and pasting with text being 88% of what is being copied. Right Intel offers a better solution for agencies sharing content with their clients.

Sharing buttons have been around a while, but cutting and pasting is by far the most popular way of sharing content, according to Tynt, a service that tracks when people cut and paste content from 600,000 publishers’ sites. Tynt analyzes 30 billion data points per month, and contends that the more a publisher knows about how people engage with their content, the more it can do to ensure they stick around longer. About half the content people cut and paste is being shared with others, potentially amplifying the publisher’s audience, but the rest of the time, they’re searching or saving for their own use, and publishers can keep them on their site by giving them more of what they’re looking for. Behaviors vary by category; entertainment lends itself to sharing with others, while people tend to be in research or shopping mode when reading technology and health/beauty content.

Read more from the source:

Digitas Distillery – The Blog – Introducing BrandLIVE: A New Agency Model and Technology Suite

“Brands want and need to be relevant in consumers’ lives. But relevance has a deadline,” said Colin Kinsella, CEO Digitas N. America. Looks like a great new offering from Digitas. We think Right Intel has a similar benefit for Agencies to provide relevant information to their clients.

Relevance has a deadline. That’s why we’ve launched BrandLIVE™, a proprietary agency platform that creates relevance and value for brands every day. Combining social and content strategies with the agility of a news organization, it’s a real-time, brand relevance approach to participation and publishing.

BrandLIVE™ is both an agency model and technology suite, with a stable of 25 open and collaborative partners including BrandWatch, Topsy, and Skyword. You can learn more about it here, and get commentary from Colin Kinsella, along with BrandLIVE™ Managing Directors Anne-Marie Kline and John Robinson.

Source: 11/12/2012

We aren't experts (And that's a good thing.)

“We talk a lot in marketing about the importance of being good storytellers. Well, we need to be good story changers, because telling a story isn’t enough. Customers can see right through a great story about a lousy product.” – Mike Orren of Speakeasy

Everybody in our shop knows that I’m tempted to throw out any resume or solicitation that contains the phrases “social media expert” or “guru. I just don’t see how there can be any experts in a field that didn’t exist ten years ago.

That’s why I’ve thusfar populated our team with people who know marketing, editorial and business strategy. Core expertise in those areas can be leveraged using all the latest social media tools.

I saw a Forbes article today that took my expert-phobia a step further, arguing that our industry has reached “The End of the Expert.” Based on a new book by Razorfish chairman Clark Kokich, the gist is that we are in the middle of such a sea change that expertise isn’t enough:

Source: SPEAKEASY 11/17/2012