Connecting Technology and Business.

Digital Transformation - Connect Better with your customers

The challenge. A survey says that small and mid-sized businesses using a sales management solution see a boost revenue by about 86%.

Nearly 80% of sales people report that implementation of a CRM solution increases in customer satisfaction levels and one every two enterprises see significant improvement in customer retention and satisfaction.

The reality. Acquiring new customers has always been a big challenge for enterprises. Marketing teams that are launching out to new markets and customer segments need to gel well with their sales teams to come up with successful campaigns to successfully penetrate an already saturated and competitive ecosystem. A scalable and dynamic collaboration model that can collect inputs form the field needs to be in place to make such strategic moves.

Businesses have realized that it is much costlier - nearly 7 times - to acquire a new customer than to retain one. Some also dole out additional discounts and design personalized offers to an individual or a group of individuals who satisfy some simple criteria to create stickiness and increase brand loyalty. This again requires enough data containing the purchase history and preferences of the customers. A seamless customer bond needs to be built with them if we are looking at a long-term relationship. Profitability of a business in directly related to the success with which a business can retain its customers.

Modern enterprises need to create more touch points and improve interaction with customers in order to analyze their sentiments towards their products. What they feel about the usability, price and quality is to be collected as feedback so that the product or service that the customer consumes undergoes the required correction. This feedback mechanism closes the loop in the interaction between the enterprise and the customer.

Designing sales campaigns and personalized products would require data about the customers. This can be achieved internally by implementing a sturdy Customer Relationship Management solution that can gather and maintain not only basic data but also updated information about the customer.

Automation of the sales processes and streamlining of customer data to effective channels for dynamic consumption would be essential. Teams that interact with customers either from remote locations or face to face require this information so that the discussion can be healthy and product pitch perfect. When there is an effective collaboration atmosphere for the marketing and sales teams, productivity is bound to increase, and sales outcomes would turn out to be positive and predictable.

Another important aspect of building confidence in customers is to ensure that the data acquired and stored about customers is kept private and safe. None would want their personal data to be misused for purposes other than what it is intended for. Nor would anyone want their data to be retained in systems that are open to vulnerabilities. Securing apps, data and networks within which they are shared is the responsibility of the enterprise to ensure privacy and safety of this data.