Are we seeing the end of the “CRM Gold Rush” or is it just the beginning?
Exploring the Evolution and Future of CRM Platforms
After engaging in a fascinating conversation with ChatGPT on navigating the CRM Gold Rush and identifying opportunities beyond traditional paths, I delved deeper into research to uncover intriguing findings about the future of the CRM ecosystem and the “CRM Gold Rush” — a term I think I might have coined?
I did a bit of digging into over 400 CRMs on SaaSworthy and, wow, did we hit a boom of new CRM entries from 2009 to 2019. And guess what? An IBIS report says we’ve got over 2000 CRM platforms in the US alone….
I dug into the over 400 CRM platforms listed on SaaSworthy and discovered a significant boom in new CRM entries from 2009 to 2019. Surprisingly, an IBIS report revealed that there are now over 2,000 CRM platforms in the US alone. This proliferation of CRMs prompts a critical question: Have CRMs officially become a ubiquitous element of modern business?
With CRMs becoming an indispensable part of modern business, will we witness the emergence of even more niche CRM players as building technology businesses becomes more accessible, especially with advancements in AI?
Or are we at the point where the market’s saying, “Enough CRMs already” and we’re waiting for a few champs to take the crown in their specific niches?
To better understand the vastness of the CRM market, I utilized the same data from SaaSworthy to create a market map. This map, categorized by ChatGPT, includes about 400 CRM platforms and does not account for the nearly 1,600 additional CRMs reported by IBIS.
Furthering this research, I had Jeff Bezos’s wisdom pop into my mind where he encourages you to focus on what remains constant. Have CRMs officially become a ubiquitous element of modern business? While many are working to create superior solutions for their specific niche vertical, I believe the next significant opportunity lies in providing essential tools (picks and shovels) for these CRM platforms and their customers.
The evolving CRM landscape suggests that the next frontier might involve pioneering a suite of essential tools for CRM platforms. These tools could include Data Cleansing Tools, CRM Migration Tools, Embedded Workflows & Automations, and Data Privacy & Compliance Tools, addressing the growing needs of CRM platforms and their customers.
The CRM Gold Rush is far from over; instead, it’s entering a new phase focused on enhancing the ecosystem surrounding CRM platforms. If you’re intrigued by the implications of this shift and interested in discussing the future of CRM technologies further, feel free to contact me directly.
