Contact management is evolving; are you evolving with it? In this article, we’ll bring you up to speed on the latest trends in the CRM world and what they mean for you and your business. Then, we’ll share some strategies you can leverage to make business run smoother this year.

What’s New in Contact Management?

Artificial intelligence was the buzz in 2023, and it continues to shape the way businesses interact with customers into 2024. With these technologies empowering predictive analytics, businesses can figure out what customers want before they even know they want it. 

Omnichannel communication is still huge in all industries, as people continue to expect to work with businesses and brands on all of their favorite digital channels (and get a consistent experience on all of them). Being present across multiple channels and platforms is good for business, too, with one study showing that companies who used three or more marketing channels for a campaign saw a 287% higher purchase rate from customers.

Beyond AI and omnichannel, data security and privacy will continue to be paramount. Leading companies are bending over backward to keep contact information safe and sound – for the sake of their customers, but also to maintain customer trust, their reputation, and good standing with the law.

Contact Management Strategies for 2024

Now that you have an idea of what’s changing in contact management this year, here are some strategies you may consider implementing to your advantage in 2024.

Use AI and ML in a way that makes sense for your business. 

If you’re new to AI, consider replacing tedious tasks first rather than seeking to automate everything in your pipeline. For example, try automating data entry, transactional emails to customers, or social media posting to improve accuracy and free up valuable staff time. If you’re ready for a more advanced stage of AI, look into predictive analytics, chatbots, and other AI-powered solutions to create personalized customer experiences. 

Explore big data in contact management.

“Big data” is just a fancy term for the information your business (in this case, your CRM) captures about your customers. This data plays a pivotal role in understanding customer preferences and behaviors, facilitating more personalized and effective communication strategies. When you study big data about your customers, you can analyze and interpret it to find patterns, correlations, and trends that speak volumes about what your customers really want. Companies can analyze purchase histories, social media interactions, and even website browsing patterns to gain a holistic understanding of their customers.

Plenty of businesses have access to big data, but just as many don’t use it. Experiment with using big data to create individualized marketing campaigns, tailored product recommendations, and personalized customer service interactions – all of which can significantly enhance customer experience.

Use advanced analytics to personalize customer experiences. 

Similar to the point above, advanced analytics take big data and make sense of it for you – so you can draw meaningful insights from customer behavior and patterns. This knowledge allows for the creation of highly personalized and targeted customer experiences, catering specifically to individual needs and expectations. As a result, customers feel valued and understood, leading to increased satisfaction, loyalty, and long-term relationship development.

Enhance your existing CRM system.

If you’re already using one, explore the features of your current CRM and consider using it in new ways. It’s often easier and more efficient to create a cohesive business ecosystem within one comprehensive tool rather than working across disparate software programs. Many CRM solutions offer deep real-time insights, mobile capabilities, and customer-facing self-service portals that can help keep all of your business operations in one place.

Study up on blockchain – especially as it relates to security.

Blockchain technology holds the potential to bolster the integrity and security of contact databases, especially in sectors where data security is tight. The decentralized nature of blockchain eliminates single points of failure, making it exceptionally resilient against data breaches and unauthorized access. Additionally, blockchain’s built-in audit trails make transactions easy to trace, which can transform data security and integrity in industries like healthcare, finance, and government.

Integrate social media channels with CRM.

Customers expect modern businesses to be available on their preferred social media platforms, whether that’s Facebook, TikTok, LinkedIn, Instagram, or the latest trending platform. By linking and tracking your customers’ contact information on social media profiles, businesses gain vital insights into customer behavior, preferences, and feedback. This holistic view of the customer empowers you to offer personalized, prompt, and contextually relevant responses.

Take your contact management to the cloud. 

If you haven’t already, now’s the time to try cloud-based contact management solutions. Seventy-three percent of businesses that use CRM use cloud solutions, which remain popular for their ease of use and scalability. The ability to access data and services remotely promotes flexibility and continuity, essential in today’s mobile and dispersed workforce. With cloud services, you can also eliminate the need for extensive in-house IT infrastructure and related maintenance – both of which can be very costly.

Brainstorm ways to use automation to improve workflow efficiency. 

Automation in contact management is revolutionizing business operations, significantly reducing manual effort and increasing efficiency. Automation tools facilitate routine tasks such as data entry, email follow-ups, and reporting, allowing staff to focus more on strategic initiatives and those things “only humans can do.” Through automation, businesses can ensure consistent and accurate handling of customer data, streamlining operations and enhancing service delivery.

Prepare for challenges and be ready to pivot. 

If you’re a technology decision-maker at your organization, you’re already aware of the expenses and time required to incorporate new solutions into your existing processes. Cost, training requirements, and data migration are still three of the most common roadblocks to updating your contact management systems, so plan accordingly.

Make 2024 your year of mastering contact management. With even just a couple of the strategies above, you’ll see major improvements to your processes and operations.