In today’s rapidly evolving manufacturing industry, staying ahead of the curve is crucial to thrive and remain competitive. From technological advancements to shifting consumer demands, understanding and adapting to the latest developments is paramount. By keeping a finger on the pulse of industry trends, companies can proactively identify opportunities, mitigate risks, and make informed strategic decisions. In this article, we will explore the significance of knowing and embracing the trends impacting the manufacturing industry, and how they intersect with the implementation and utilization of Customer Relationship Management (CRM) systems such as Salesforce.

7 CRM Trends for the Manufacturing Industry in 2024

1. Advanced Analytics and AI: Manufacturing companies will increasingly leverage advanced analytics and AI capabilities within their CRM systems. This will enable them to gain deeper insights into customer behavior, preferences, and market trends, allowing for more personalized and targeted marketing and sales strategies.
2. Internet of Things (IoT) Integration: The integration of IoT devices with CRM systems will become more prevalent. This will equip manufacturers to collect real-time data from connected devices, such as machinery and equipment, to monitor performance, predict maintenance needs, and proactively address customer issues.
3. Enhanced Customer Experience: Manufacturers will continue to focus on delivering exceptional customer experiences through their CRM systems. This involves streamlining communication channels, providing self-service options, and leveraging automation to ensure prompt and personalized responses to customer inquiries and requests.
4. Supply Chain Integration: CRM systems will increasingly integrate with supply chain management tools to provide end-to-end visibility and collaboration. This integration will enable manufacturers to optimize inventory management, track orders, and improve overall supply chain efficiency.
5. Sustainability and Ethical Practices: Manufacturers will prioritize sustainability and ethical practices, and CRM systems will play an important role in managing and communicating these initiatives. CRM platforms may include features to track and report on sustainability metrics, manage supplier relationships, and communicate transparently with customers about environmentally friendly practices.
6. Mobile and Remote Access: With the rise of remote work and mobile technologies, CRM systems must provide seamless access and functionality across various devices and locations. Manufacturers will require CRM platforms that support remote collaboration, field sales, and service operations.
7. Data Security and Privacy: As data breaches and privacy concerns continue to be major issues, manufacturing businesses will demand robust security measures in their CRM systems, including encryption, access controls, and compliance with data protection regulations to ensure the safety and privacy of customer information.

CRM Investment priorities for manufacturers in 2024

• Personalized Customer Service: Today’s digital-first consumers expect convenient and effective customer service across various channels. To provide this outcome at scale, manufacturers must leverage customer data as the foundation of their customer service operations. Service agents equipped with a 360-degree view of each customer (via CRM) can provide better service outcomes quicker.
  
  
• Predictive Field Maintenance: By leveraging real-time data from “smart,” connected devices in the field, manufacturers can unlock predictive field service use cases whereby a service technician can fix an asset before it breaks, avoiding downtime and increasing customer satisfaction. Predictive maintenance use cases also enable new recurring revenue opportunities for manufacturers and help establish sustainable customer loyalty through more frequent service engagements.
  
  

• Digital Self-Service: The days of person-to-person sales dominating the manufacturing industry are long gone. In fact, in 2024, the majority of buyers prefer to complete the sales process without ever having to interact with a salesperson at all. Manufacturers that provide customers and prospects with robust digital self-service capabilities (such as online knowledge bases, AI-powered chat-bots, virtual assistants, account dashboards, and eCommerce platforms) will generate more sales and increase customer satisfaction while decreasing the cost of sales.
  
  

• Advanced Sales Forecasting: Manufacturers that apply emerging technologies (such as artificial intelligence and machine learning) to sales forecasting will generate a sustainable competitive advantage in 2024. Not only will these early adopters have more accurate revenue projections, but they will also be able to pinpoint hidden trends and market opportunities that competitors will miss. Read this blog for more on AI-powered sales forecasting.
  
  

• Data-driven Decision Making: From production output, capacity utilization, and inventory levels to demand planning, lead time, and quality control metrics, the amount of data points that drive overall business strategy for manufacturers is quite large. Those that have the systems integrations and data visualization capabilities in place to empower quick and accurate data-driven decision making will be leaps and bounds in front of their reactive competition.

As a technology consulting partner with hundreds of manufacturing clients, Argano has deep expertise in helping manufacturers implement, integrate, and optimize CRM and other business-critical systems. Let us help your organization unlock any of the use cases discussed above. Contact us today for a complimentary discovery session.