Global marketplaces are changing rapidly. New rules, innovative strategies, and modern practices are replacing conventional mindsets. With the boom of digital technologies, a new breed of markets has appeared called Customer 2.0.
And if you want to learn how to market yourself amid the customer revolution, this article is for you.
Understanding the concept of customer 2.0 is essential for business leaders. The term refers to a class of socially engaged and informed people who stay updated with the latest shopping trends. Most importantly, they value customer experience more than price, product, or service. And when it comes to optimizing customer experience, mobile CRM solutions should be your preferred choice.
In this article, we will discuss the importance of mobile CRM solutions in the context of customer 2.0. Besides, we’ll also share some valuable tips for employers to keep their customers happy by using a CRM system.
Let’s dive in!
Customer 2.0 and Modern Businesses
Customers’ shopping behavior has changed a lot in the last two decades. Today, people have become more digital and tech-savvy. Before buying anything, they visit brand websites and social media pages.
According to an estimate, over 93% of clients in today’s digital age begin their buying process with Internet research. They go to different rating websites and read feedback from previous customers regarding that product or service.
Once the digital research is complete, they shortlist the most reliable brands and compare their pricing plans. Eventually, they mostly place their orders online and prefer digital payments to cash.
Customer 2.0 refers to clients exhibiting these qualities. Their buying journey is different from that of traditional customers. Therefore, businesses should make sure to offer a memorable experience to these buyers and win their loyalty. Employers must incorporate digital technologies and cutting-edge solutions to target these customers and convert them into leads.
Importance of Customer Experience
When you go to a market to buy something, how the staff behaves with you leaves a long-lasting impression on your mind. If employees are courteous, soft-spoken, and professional, you will come to that shop again.
Moreover, you notice how they interacted with you, answered your queries, and guided you throughout your buying journey. This whole process is called customer experience. It refers to everything a business can do to satisfy its clients.
Research shows that over 76% of business leaders prioritize customer experience. They believe optimized customer experience increases retention rate by 5% and boosts organizational profitability by up to 95%.
Optimizing Customer Experience with Mobile CRM Solutions
Mobile CRM solutions are software programs accessible through mobile digital devices like smartphones and tablets. CRM is an acronym for Customer Relationship Management, which means it helps companies strengthen their relations with clients.
So why does a business need a mobile CRM solution? Here’s the answer.
Mobile CRM is a valuable digital investment with long-term gains. Investing in cutting-edge mobile CRM solutions helps employers create exceptional customer experiences. Businesses can use these tools to understand clients’ needs, identify pain points, and present solutions accordingly.
Eventually, entrepreneurs can better handle their queries by putting themselves into customers’ shoes. Similarly, they can organize their marketing and sales strategies as per the requirements of Customer 2.0.
Why Mobile CRM Solutions are Valuable for Businesses?
Your customers, both prospective and current, are like open diaries. The more you read them, the more you learn about their preferences, likes and dislikes, and behavior. You can build custom strategies that deliver impeccable results based on your understanding of your customers.
Hence, mobile CRM solutions give businesses a 360-degree view of their target market. Here’s why these systems are essential to improve customer experience and boost corporate growth:
1. Better Relationships = High Retention
Managing customer relations is not an easy task, particularly if you have a broad consumer base. Have you ever wondered how a B2B ecommerce store can keep its thousands of clients happy without listening to their voices?
Yes, it’s true! Listening to your customers is crucial to strengthen your relationships. A mobile CRM solution helps you streamline communication with your customers. Important conversations and clients’ queries no longer remain hidden or scattered. Instead, you can get instant notifications or messages and respond to customers’ questions without any delay.
Eventually, you can reduce inconsistencies in communication with your clients. This improvement shortens the B2B sales cycle and improves the customer retention rate by 30%.
2. Build a Loyal Customer Base
Customers choose your SaaS product, complete the 14-day trial period, but leave without buying the premium plan. And this keeps on repeating with most subscribers. What’s the reason for this low retention rate?
The answer is simple: they don’t get the features they were looking for. And unless you listen to their concerns, you won’t be able to win their loyalty.
It would be best to have a mobile CRM solution with end-to-end client communication. You can ask prospects about their pain points and customize your features accordingly.
Similarly, the system can also be used to ask users about their experience using your product. Their feedback will improve your product quality and help you build a loyal customer base.
3. Accurate Market Segmentation
Most marketers are familiar with the Pareto principle or 80/20 rule. It says 20% of your customers drive 80% of your revenues. In short, employers must identify and target 20% of their valuable clients to get their desired results.
Market segmentation, therefore, is an essential component of organizational strategies. Companies divide their target markets into segments based on their worth, interests, preferences, and demographics.
Mobile CRM solutions provide actionable insights about different market segments. You can break down customer data, create focused lists, and devise future strategies accordingly.
This approach allows you to run specific market campaigns, analyze your sales process, and give tailored offers to generate more leads.
4. Improved Consumer Data Management
Data is crucial to analyze consumer behavior and make informed decisions. However, protecting clients’ confidential and sensitive information is equally important. Your business should comply with data protection regulations to avoid financial penalties and ensure smooth operations.
A CRM mobile app is the best place to store, analyze, and manage client data. The system is a centralized spot to track purchase history and analyze consumer behaviors from a single dashboard.
Besides, you can make data-driven decisions based on information provided by mobile CRM software. Companies can use clients’ personal details with consent to manage subscriptions, send new offers, and make buying decisions.
Wrapping Up
Running a business amid today’s digital transformation era and customer evolution is difficult. Business practices, marketing plans, and sales strategies have all changed dramatically. And one of the main reasons behind this paradigm shift is changing consumer behavior and preferences.
Therefore, businesses need to leverage mobile CRM solutions to cater to the ever-evolving needs of Customer 2.0. These cutting-edge systems empower businesses to manage customer relationships and achieve high retention rates effectively. Besides, CRM tools are essential for accurate market segmentation and to build a loyal consumer base.
Lastly, leveraging CRM mobile apps can streamline consumer data management and boost organizational profitability.