November 12, 2012
According to IDC Research, CRM Apps Lead the Way to Further Growth
By Tabitha Naylor
While customer relationship management (CRM) apps are leading the way to further growth, the worldwide software market is worth a whopping $167 billion. With commercial CRM apps making up 49 percent of the total market share, the market enjoyed a 4.7 percent year over year increase, for the first half of 2012.
The power of apps, for midsize admins, means a shift away from basic CRM functionality to a customizable, "buy what you need" marketplace. However, the question is, where are these apps headed? Only the contact center segment of CRM software came up with single-digit growth, according to an article at eWeek examining the IDC (News - Alert) research report.
A combined growth rate of more than 12 percent was thoroughly enjoyed by the other three aspects of this market, which is, customer service, marketing, and sales. Vanessa Thompson, IDC Research Manager, attributed part of this increase to companies that think of social solutions as decision support, ad hoc work facilitators, and richer features that integrate data and content with people and systems.
In other words, midsize admins want to collaborate using asynchronous data, and a robust CRM app market supports this aim. As noted by Thompson, as companies try to form connections with customers and push real-time sales data to employees, social media integration continues to grow as a driving force for CRM spending.
Geolocatio is one new area for social synergy which means that in order to help connect professionals and sell services to clients, businesses should use "where" along with "what" and "how". That's what did it for Jim Ferrara, CEO of social CRM developer Nimble (News - Alert).
Edited by Brooke Neuman