Customer Relationship Management (CRM) is now the largest software market in the world. It has been since the end of 2017, when it overtook database management systems for the first time. Worldwide CRM software revenue currently amounts to $40 billion US, and this figure is expected to reach $80 billion by 2025.
The widespread adoption of CRM reflects the expectations of the modern digital consumer and the needs of a heavily disrupted competitive marketplace. One of the key reasons for CRM’s growth is accessibility. Airports need access to customer data in real-time in order to offer personalised, relevant communications, adjust to market forces and offer the best, most competitive service.
The growth of mobile CRM in 2019 also demonstrates the versatility of new multiplatform Cloud-based solutions. When employees can access the software from any location on their device of choice, there are natural benefits in terms of productivity, which is why 50% of teams have improved their output by using mobile CRM.
With the emphasis placed firmly on user-friendly systems, it is increasingly possible for even small regional airports to implement CRM free of complex technological concerns at the cost of hours of staff training.
Evolution not revolution
Alongside its phenomenal revenue growth, the CRM industry is constantly expanding in functionality. Providers respond to trends in technology, business practices, security, workplace culture, retail – anything that influences the way companies use their systems - to meet the changing needs of businesses and their customers.
There are now fewer barriers for new CRM users as systems become more familiar, cheaper, simpler to implement and easier to get to grips with. As complex ‘tech’ develops to give the seamless user experience we’ve come to expect from apps, it is expected that higher percentage of businesses will adopt CRMs for the first time.
As we move into 2020, CRM is at the heart of every growing business. But what are the trends to look out for as the technology continues to evolve and why should your airport invest in CRM?
1. 2020 is just a bit more social
As customer expectations climb ever higher, social media provides the perfect focal point, allowing airports to connect with their passengers in real time. Social media is a great place to build brand equity and offer customers the one-on-one attention they demand. Social media marketing is valuable for lead generation, customer acquisition, brand advocacy and customer retention, and it’s one of the highest channels for return on investment (ROI) across the booking funnel.
In 2020, it’s vital to integrate your CRM with your social media profiles. This gives a more direct way for customers to get in touch, enhancing their experience and enabling you to resolve problems or questions within that key 15-minute window. While some passengers may still prefer to use phone or email, what’s important is that you give them the choice to use their preferred platform. As businesses across industries continue to work to put the customer front and centre, social CRM will gain traction.
2. More bang for your data buck
GDPR has given people more knowledge and control around their rights with regards to personal data, and businesses are now more interested than ever in how they can control access to and retention of the data they are holding.
The lead-up to data reforms gave airports the opportunity to clean up their mailing lists, consider who should have access to what and implement data retention strategies including asking customers to confirm their email subscriptions.
As these strategies are put to use on an ongoing basis, businesses will be keen to find a CRM system like Rezcomm that will give them the control over, and insights into, data that they may have been lacking from their simpler legacy systems.
3. More sophisticated analytics
Digital advertising will become more data driven in 2020 and airports are embracing this proactive use of data to expand their non-aeronautical revenue through avenues such as parking.
Huge amounts of data are generated every day across many platforms. Now companies are harnessing the power of this information in single, unified CRM systems. As we head into 2020, it’s more important than ever that your CRM solution integrates standbys such as customer service tools, marketing automation, analytics software and customer data platforms. While many CRM systems are great for tracking internal sales activities, they miss out on the huge amount of data created by external interactions.
Rezcomm centralises and consolidates data from any source across the business. It formats and maps the data quickly and accurately via a secure import/export engine and can prepare data from any source for any system, convert it into a common language, then map it against any structure. Rezcomm comes with a full suite of reporting functions that make it easy to use the data to inform vital, real-time business decisions.
4. Visualisation of insights
The reporting functions of CRM systems are becoming ever more sophisticated, offering detailed insights into every aspect of your airport’s business. However, to use two pertinent clichés, a picture is worth a thousand words, and time is money.
When reports come via an old-fashioned spreadsheet layout, it can take significant expertise to analyse the results of each marketing campaign, product launch or operational activity. It can also take a long time to train staff in analytics, and once a report is generated, to get a clear picture of the way your airport is running.
Rezcomm excels in data visualisation. Customisable reports are available via a user-friendly dashboard that makes it easy to see how any aspect of the business is doing in real time. This means your airport can react much more quickly to customer needs and market forces, and that can only be good for both bottom line and customer satisfaction.
5. CRM in the palm of your hand
Cisco predicts that the way we connect to the Internet is going to get even more diverse in the coming years. This means it’s really important that CRM systems should be accessible from all devices. In fact, without mobile CRM, your airport will be running to catch up with its digitally mobile, omnichannel customers.
Mobile CRM solutions have a lot to offer. They combine intuitive interfaces and strong security features with apps that work across platforms, giving team members the ability to transition smoothly between offline and online environments. Cloud-based CRMs are already streets ahead of traditional software. Solutions like Rezcomm are fully optimised for mobile both from a user and customer point of view.
Mobility has been a central component of sales activities for a long time. Back in 2012, an Aberdeen Group study highlighted the importance of extending CRM systems beyond the confines of the office. But this doesn’t mean mobile is becoming dated. In fact, on the contrary, its functionality is becoming more urgent than ever as processes become more involved, the workforce becomes more scattered and the customer becomes more demanding.
However, even as businesses work to integrate existing technologies, mobile/omnichannel CRM is currently ceding to a ‘channel-less’ interface. At the moment, customers can communicate with a company in many different ways, from phone to social media and everything in between. While this approach makes contact easy and works well with available channels, it makes life hard for the customer service representative who has to switch screens maybe 1,100 times a day. The potential solution is a single piece of software that handles all the different channels. In a channel-less solution, the customer service agent would receive notifications of messages coming in across channels in one centralised window. This emerging trend represents a further extension of the customer-centred integration of convenience, making life easier for CRM users and creating a better experience for their customers.
6. Automated marketing
Email is still the most effective marketing channel bringing an average ROI of $38 for every $1 invested. That’s why the best CRM systems for venues focus on email marketing workflows designed to engage every visitor with personalised, relevant content. Rezcomm’s digital marketplace supports your airport in every aspect of email marketing from prospect and customer entry plans to customer re-engagement.
7. Get to know your customers better than ever
Personalisation is more important than ever and this trend is set to continue in 2020. According to software experts, SelectHub, this is set to be the year that customer service becomes a key brand differentiator. And statistics from Salesforce, indicate that 84% of customers consider their experience with a brand to be as important as the quality of products and services they purchase.
Personalisation is a vital part of the customer experience. It advances customer relationships, brand trust and advocacy. Customers who click on recommendations have a 70% higher purchase rate, and when personalised recommendations were tested against generic recommendations such as ‘category best sellers’ they became almost twice as effective.
A CRM system like Rezcomm that offers sophisticated customer intelligence tools makes it possible to develop very detailed customer profiles. This knowledge of individual buying and browsing behaviour, customer value, demographics and engagement allows for segmentation in automated workflows, making sure each customer receives only relevant, timely communications. This makes the customer feel valued and understood and breeds loyalty and customer satisfaction.
8. Driving customer acquisition
It typically costs five times more to gain a new customer than it does to retain an existing one. However, an integrated CRM and digital marketing solution like Rezcomm can support visitor number growth with data acquisition and validation tools. It can drive awareness, increase brand consideration, engage potential visitors and underpin the quality of your airport’s service. Customer acquisition will continue alongside customer retention with an equal emphasis being placed on both as we head into 2020.
9. Industry-specific expertise
There are absolutely loads of CRM providers, as you’d expect in a fast-growing market. However, in 2020, the companies that stand out will be those that partner with a CRM supplier that really understands the specifics of their business and the particular challenges that they face on a day-to-day basis. Rezcomm is the partner of choice for airports worldwide, combining many years of experience with innovative technical know-how.
10. Future-proof software
There are always new business and software trends, sometimes big, sometimes small. While airports can sometimes be justifiably reluctant to embrace new technologies, the best CRM providers work alongside their clients to future-proof their systems. Rezcomm is constantly developing its products to offer the best of both worlds: Extensive industry experience and enterprise - taking the guesswork out of ecommerce for airports.
This means staying ahead of the latest technologies - using industry expertise and business acumen to get ahead of the game, to test and evaluate new ideas, and to integrate those trends into the functionality of apps and widgets.
For example, artificial intelligence (AI) is an area of significant growth at the moment. Respondents to Salesforce’s 2019 State of Marketing report said that their AI use would increase 257% over the next two years. This expansion was in areas including customer segmentation and lookalike data modelling, which is expected to undergo growth of 277%, and personalisation of the channel experience, which will increase by 266%. AI is already a big part of daily life, and AI linked with CRM activities is set to boost global business revenues by $.1.1 trillion by the end of 2021. The reporting, automation and analytics functions in Rezcomm’s marketplace solution are liberally laced with AI capabilities, so your airport can make informed business decisions based on real-time sales and operational knowledge.
Rezcomm is the world’s first combined data warehousing, Business Intelligence and CRM marketplace specifically designed for airports. If you would like to share in more of our industry expertise, why not join 200 of your competitors and sign up to our Ecommerce Goldmine – a comprehensive library of technology and marketing know-how.
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