As global competition has become more intense, most businesses have increased their efforts to retain existing customers. Acquiring a new customer can cost as much as 25 times more than retaining a current customer. To help them reduce customer churn and improve their retention rates, marketers have increasingly turned to CRM technologies. The unprecedented growth of the CRM industry reflects the importance of providing meaningful, engaging experiences to customers as well as the constant evolution of CRM technology. This evolution will continue to bring new trends and innovative technologies during the coming years, but there are several enhancements that you can expect to see in 2017.
Satya Nadella, the CEO of Microsoft, has made it clear that his mission is to transform Microsoft into a pure cloud platform and company. The announcement in July 2016 that the company was releasing Microsoft Dynamics 365 seems to fit perfectly with the company's move to push its customers into the cloud.