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New tools and integrations in CRM analytics to give never-before insights

  • 04 Feb 2022 10:50
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New tools and integrations in CRM analytics to give never-before insights

As customer experience becomes crucial in sustaining in the fiercely competitive world and organizations move toward digital transformation, CRM (Customer Relationship Management) analytics solutions become one of the essential tools to possess. Various tools such as Intent Manager that can determine the intent of customers have been released. These tools are equipped with machine learning and artificial intelligence capabilities. Moreover, tools that can help sales and marketing teams to determine the influence on customer behavior have been launched. These tools can save time for organizations and give essential insights that were not available before. This helps in devising appropriate strategies that can help organizations influence their customers and gain more business than before.

The demand for CRM analytics is gaining traction among organizations as technology advances and organizations can avail insights that were not available before. According to the new research, the global CRM analytics market is expected to grow significantly over the next few years.

Following are some of the recent activities going on the industry that would shape the future:

With technology advancements, CRM analytics solutions have progressed toward understanding the intents of customers and taking necessary actions. LivePerson, a conversational artificial intelligence (AI) provider, released the Conversational Cloud. This solution enables organizations to respond to messages, determine customer intent, and ask for the intervention of human experts. It is equipped with Intent Manager, which carries out intent recognition in real-time along with analysis of consumer intentions as the conversation proceeds.

Machine learning algorithms and natural language understanding (NLU) capabilities have been utilized in this solution. Chipotle Mexican Grill has been using Intent Manager for acquiring real-time insights on customers and taking appropriate actions based on them to formulate strategies related to marketing, customer service, and sales. This solution is designed to understand nearly half of consumer intents for retail, telecommunication, finance, airlines, and other industries. Once it understands the intent, if necessary, it also routes conversations to experts or agents to resolve.

Along with launching new tools and solutions that would give important insights to customers, market players have been integrating their solutions with different platforms to enhance capabilities for understanding customer behavior. Veeva launched Veeva CRM Boost for Crossix DIFA marketing analytics platform. The Veeva CRM would offer insights on customer engagement across different channels for sales and marketing departments. This integration would help companies in understanding how personal and non-personal promotions have been working together. In addition, healthcare provider engagement can be linked to direct-to-consumer campaigns to identify how sales and marketing have been influencing customer behavior.

Asaf Evenhaim, the CEO of Crossix, a Veeva company, outlined that the integration has the potential to change the way life sciences organizations plan, execute, and measure the strategies by combining sales and marketing. This is the first step into the process of giving customers an extensive view of their campaigns and channels. Furthermore, these insights would drive decisions regarding sales and marketing.

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Ken Williams By, Ken Williams
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