2024 CRM Challenges, Opportunities and Top Tips with Kat Bucon @ eSure Group
Implementing a market-leading CRM strategy can be challenging, however, when done well the dividends are huge. Today with the integration of Ai and Machine Learning the opportunities are endless.
Kat Bucon, Senior CRM Manager at eSure Group talks to me about the opportunities and challenges she has experienced over the years working with one of the UK’s leading digital insurers.
Emma Woodward - Head of Agency - CRM
Key challenges for CRM in 2024
In 2024, CRM faces multifaceted challenges, with the increasing complexity of customer data at the forefront. The task of gathering extensive data from diverse sources poses a significant challenge for businesses, not only in terms of collecting zero- and first-party data but also ensuring its accuracy, reliability, and relevance.
As businesses grow, they need to keep in mind that their CRM systems must scale accordingly. Scalability challenges may arise concerning infrastructure, data storage, and system performance. Ensuring that CRM solutions are flexible and adaptable to changing business needs is vital for long-term success.
Navigating the evolving technological and regulatory landscape further complicates CRM strategies. Ensuring the security and privacy of customer data is a top concern, given the escalating scrutiny on data protection laws and regulations. This demands a robust approach to compliance, making it imperative for organisations to implement stringent data governance measures.
Addressing these challenges demands a cohesive approach that incorporates advanced technologies, robust data management practices, and a steadfast commitment to compliance. CRM professionals must stay informed about the latest trends and solutions in the CRM space to effectively navigate the complexities of customer data in 2024 and beyond.
Key opportunities
This year we have a golden opportunity for businesses to supercharge their customer relationships through the integration of Artificial Intelligence (AI) and Machine Learning (ML) into CRM systems. Thinking of predictive analytics anticipating customer behaviours, creating personalised interactions at scale, and streamlining processes for a smoother ride.
What's even more exciting is the focus on customer engagement and loyalty. By going the extra mile to keep customers happy, businesses can build long-lasting relationships, leading to increased customer loyalty and positive word-of-mouth marketing.
Additionally, the tech advancements across CRM systems can be your personal assistant, tailoring interactions based on what each customer likes. It's not just a one-size-fits-all anymore – it's about making each customer feel special and utilising the data they provide you with, showing that you listen.
The integration of innovative technologies such as chatbots, virtual assistants and augmented reality, presents opportunities for more dynamic and engaging customer interactions. These technologies not only enhance the customer experience but also streamline communication processes, providing quicker responses to customer queries.
To seize these opportunities, businesses need to stay agile, understand and utilise the advancing technology, and foster a customer-centric approach.
A top CRM tip from you, the expert
My top CRM tip is to focus on WHY you’re doing something.
Beyond simply managing relationships, aim to actively enhance them by understanding and responding to individual customer needs and deliver value at every turn