CRM is dead, what’s next?

CRM was originally intended to help businesses manage relationships with their customers. CRM as a concept was launched in the 1990’s, and since then we have seen many versions and iterations from leading software companies. Though they all fundamentally deliver similar capabilities, they differentiate themselves from their competitors based on ease of use or ease of deployment. However, we need to realize that when CRM systems were conceptualized, Google did not exist, there was no social media, Internet of Things (IOT’s), machine learning or Big Data. The profiles of users (using the CRM system) as well as profiles of consumers are fundamentally different from what they were until a few years ago. Digital transformation is redefining business models across the industries. How can we assume that old generation CRM systems are still relevant in the Digital age? Based on my research and conversations with many sales and marketing leaders in the industry, I have compiled five reasons why the traditional CRM system is no longer valid. These reasons are equally applicable to business-to-business, and in the business to consumer scenarios. That is why in this article, I interchangeably use the terms customers and consumers. Let’s review the 5 Reasons why CRM as we know it no longer holds true in the digital era. More

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