Market Trends of Thailand CRM Industry
SMEs to Witness Major Growth
- In Thailand, small and medium enterprises (SMEs) increasingly leverage Customer Relationship Management (CRM) solutions to enhance customer interactions and streamline business processes. CRM systems help SMEs manage customer data, track interactions, and improve customer satisfaction through personalized communication and targeted marketing efforts.
- In Thailand, SMEs are witnessing significant growth, as there are potential benefits extended to SMEs in the region via operation streamlining, data organization, and sales forecasting. According to The Office of Small and Medium Enterprises Promotion, approximately 2.2 million people were employed in small enterprises, and 1.8 million people were employed in medium-sized enterprises as of April 2023.
- In October 2023, UOB Thailand introduced ChocoCRM to boost SME success. This is one of Thailand's crucial providers of comprehensive customer management, sales, and marketing solutions, and it is the newest addition to the UOB BizSmart platform. This cooperation provides a 15% reduction for UOB guests who subscribe to any ChocoCRM fidelity program package. This cooperation underscores the bank's ongoing commitment to supporting Thai SMEs with the needed business tools to excel in today's competitive digital landscape. Also, with the help of ChocoCRM, solutions can extend their offerings to include a loyalty program that enables businesses to produce client databases, enhance communication, execute promotional campaigns, and cultivate client fidelity.
- In August 2023, Salesforce announced the general availability of Starter. This simple all-in-one CRM app combines deals, services, and marketing capabilities to help small and growing businesses manage customer relationships, centralize critical data, and produce more efficiently. Starter assists small businesses in generating further leads with marketing campaign templates, segmentation, analytics, an email builder, and AI-powered email send optimization features.
- By deployment, hybrid deployment has a substantial market share. In Thailand, small and medium enterprises (SMEs) increasingly adopt hybrid deployment models for CRM solutions. This means they utilize a combination of on-premises and cloud-based CRM systems. By doing so, SMEs can leverage the flexibility and scalability of cloud solutions while maintaining control over sensitive data with on-premises infrastructure. This hybrid approach enables them to customize their CRM system according to their needs, comply with local regulations, and ensure data security and privacy.
Understand The Key Trends Shaping This Market
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Retail and Logistics Segment to Hold Major Share
- In Thailand's retail and logistics sectors, the demand for Customer Relationship Management (CRM) solutions is witnessing a surge. Thailand's retail and logistics sectors are becoming increasingly competitive, with companies competing to attract and retain customers in a crowded marketplace. CRM solutions provide valuable tools for businesses to differentiate themselves through personalized customer experiences, targeted marketing campaigns, and efficient customer service.
- Hence, logistics companies in Thailand are focusing on enhancing technologies to increase their market share. For instance, in March 2023, DSV Thailand, a global transport and logistics service provider announced that the company has partnered with the transport management cloud platform, oTMS, to enhance its transport digitalization management. With this collaboration, the company will adopt the oTMS International SaaS TMS transportation management system to enhance its transport digital management and optimize order routing.
- Additionally, as digitalization in the country's retail and logistics sector gains momentum, the demand for CRM also increases. Hence, logistics and retail companies are analyzing collaboration with CRM solution providers. CRM is a valuable tool used by businesses to differentiate themselves through personalized customer experiences, targeted marketing campaigns, and efficient customer service.
- Further, the rising usage of smartphones for online purchases and the adoption of e-commerce in the region are generating considerable opportunities to target consumers with the help of analytical tools due to the vast amount of data available in the market. This upsurge goes hand in hand with the country's increasing number of e-commerce users. The rising usage of e-commerce and smartphones in Thailand provides data opportunities. Using data analytics in CRM allows targeted customer engagement, personalized experiences, and enhanced marketing strategies, thus driving the CRM market's growth in the country.
- Moreover, by deployment, the demand for cloud-based CRM is growing in retail and logistics in Thailand. Cloud-based CRM solutions offer scalability and flexibility, allowing retail and logistics companies to easily adjust their CRM capabilities based on business needs, seasonal fluctuations, and growth requirements. This scalability enables organizations to manage customer relationships and sales processes efficiently, regardless of the size or complexity of their operations.
- Also, both retail and logistics companies are placing a greater emphasis on customer-centric strategies to enhance customer satisfaction and loyalty. CRM systems enable businesses to collect, analyze, and leverage customer data to obtain insights into customer behavior, preferences, and needs, allowing them to tailor their products and services accordingly.
