Gartner: Mobility is 'hot area' for CRM investment
Mobility is one of the "hot areas" for enterprise investment in customer relationship management, or CRM, technology, says Gartner.
Tablets in particular are causing the "most disruption" as sales departments buy them and then require support for CRM tools, the market research firm observes.
Other hot areas for CRM investment are social media, web analytics and e-commerce. "CRM will be at the heart of digital initiatives in coming years. This is one technology area that will definitely get funding as digital business is crucial to remaining competitive," says Joanne Correia, research vice president at Gartner.
The firm projects that CRM software revenue will reach $23.9 billion in 2014, with cloud revenue accounting for 49 percent. Cloud-based CRM deployments represent more than 40 percent of CRM deployments and are expected to reach 50 percent next year.
In terms of industries, the largest spenders on CRM are high-tech, banking, insurance, securities, telecommunications, pharmaceuticals, consumer goods, IT manufacturing and services.
Chief marketing officers are increasingly driving IT investment in an effort to improve customer experience, profitability and sales. "CIOs will need to work more closely with CMOs and marketing leaders to adapt to the increasing technology demands emanating across the marketing organization. Mounting pressure on CMOs to drive growth, improve accountability and reduce costs is pushing marketing organizations to make significant marketing technology investments across a broad set of applications and functionality," recommends Gartner.
- check out Gartner's release