It is not very long ago; people had a small idea about apps and their effectiveness in real life. They thought these are simply for the big players and the privileged to use. However, over time, the concept has changed, and so has the functionality and usefulness of these apps due to the continual development of these apps.
If you are into business, you will be benefitted a lot from app development irrespective of the size of your company, the nature of your business and even for the time you have been in this particular business. It is not without any rhyme or reason that thousands of companies each year are investing millions of dollars in such app development, big or small.
The fact that more than half of small business owners last year in the United States admitted that they already had made plans to invest in developing a mobile app for the business further substantiates the drive and need of a business app.
Therefore, you can expect a lot of such apps to be developed and launched very soon with hundreds of others in the pipeline. Therefore, if you have not already, it is high time to reconsider things and make arrangements to develop an app that is relevant for your business.
- It will surely help you to increase your sales revenue just as it has for 50% of the small business owners who have developed and are using a business app already.
- In addition to that, these apps will also enhance the user experience. This will, in turn, help your business to stay competitive in a market which is changing continually.
In this competitive business world, you cannot merely afford to fall behind your competitors and expect to thrive. Therefore, invest in app development and stay abreast with the latest technology for your business benefit and growth.
Increase mobile payments
Whether it is National Debt Relief Programs or any other, the better design ensures safety and better functionality, and the same applies to mobile apps. This is an essential aspect because whether it is banking, e-commerce, fashion, or any other service, all need a dedicated business app to ensure a safer, faster, and more effective transaction.
Ideally, when mobile security improves, it will automatically result in a rise in the global app revenue. That means you will see a surge in mobile payments as well. A few of such safe payment apps are:
- Bank apps
- Google Pay
- Samsung Pay and
- Apple Pay.
Over the last three years, there is always a significant rise in the number of payment apps users as well, and this number is not going to slow down sooner or later. Once again, this signifies the mobile security aspect that ideally has a direct relation with the comfort factor of the users of these apps to make mobile payments and the upsurge in the popularity of mobile payment.
The transportation apps
It for quite some time now, people use different apps to purchase train tickets, plane tickets, and even local bus schedules. There are also ridesharing apps such as Uber and Lyft and car sharing apps such as Turo and Zipcar have been dominating the market for years now.
There are also a few new apps developed that are expected to change the entire transportation business to a whole new level.
- With these apps launched, you will be even able to locate your scooter or bicycle by only using your mobile device.
- These apps will help you to unlock your transport while you approach towards it using the cameras on your smartphones.
- You have to pay for the duration of your use, and then you can leave the bike or scooter anywhere after reaching your destination.
These apps are all in keeping with location-based services provided by small business and mobile payments, and all of these are predicted to be a significant part of the transportation industry in the future.
Apps with virtual reality
There are even a few apps that have a virtual reality that you can use for your specific business. However, these are not quite the same as those apps that come with augmented reality. To use apps with VR, you will need more than just a smartphone, for example, goggles or a helmet that will be in sync with your mobile device to ‘see’ things. You can control it with a controller or a joystick.
These apps are typically favorite among real estate business and estimated that the valuation of the virtual reality market on a global scale would exceed $26 billion by 2022. However, VR apps are still under development, and things will not happen overnight.
The hybrid apps
You can also choose between native and hybrid apps, given the fact that mobile app development can be costly. Measure the pros and cons of each to select the best one for your business.
Smaller businesses having smaller budgets for app development may also choose apps that work both on iOS and Android devices. This way, they will not have to go through the development stages twice, making it simple and easy for them.
However, using a hybrid app can reduce your costs and allow you to earn more revenue for a fraction of its price.
Stay with the trend
Since technology is continually evolving, you will need to stay with the pattern to make sure that you make the most out of your small business. Look at the phone that you have now and compare it with the one you had five or ten years back and you will see the rate at which technology is evolving. With time, it will continue to develop, and you will see newer and better trends. More modern technology will replace the older ones if they cannot be modified and upgraded.
Your primary objective is to understand how the consumers will react to such changes, identify the rising trends, and accordingly adapt the best one to meet the requests of your mobile customers.
These are some of the mobile applications that are suitable for small businesses or start-ups those who work on a small scale. All these applications help in the growth of the companies with not most costing on your budget.
To know about more such tools or want us to include more content related, comment below we will do the same.
Small businesses with a promising growth trajectory and the cash flow under control, and with some funds available to invest in the business can find it challenging to decide on what to spend. Investments in accounting software while not being as much fun as a fleet of drones for making home deliveries can be more practical and help the business shore up its bottom line while preparing for the second round of funding to take it to a higher orbit.
Prevalence of the Use of Accounting Software
A study of over 700 small businesses revealed that around 90% were either already using some technology for accounting or were planning implementation in the next couple of years.
To put it in perspective, the figure is higher than even the adoption of technology on information security, customer relationship management, project management, and human resources that are universally regarded as vital areas for the deployment of technology. Not surprisingly, 82% of businesses reported a significant impact on their operations due to the use of the accounting software.
While it is true that you should never invest in anything just because others are doing so, it is very apparent that investment in accounting technology is something that merits paying closer attention. Investments in accounting fintech are nowadays far more than in any other technology because of its proven capabilities to contribute to the better management of the business finances and the overall growth of the business.
Virtually every business, irrespective of its sector and scale needs to have accounting software in place to not only ensure regulatory and tax filing compliance but also to free up vital human resources to look after other essential functions.
Expected Benefits of Fintech Investment for Small Businesses
It is no secret that spending on fintech, particularly accounting software, is on the rise in 2019 in small businesses. Most business owners, while willing to invest in accounting software, are often not too clear about the multiple benefits of its use apart from convenience and numerical accuracy. A quick look at the basket of benefits that small businesses can enjoy with the implementation of accounting software:
Less Time Spent on Routine Tasks
Perhaps one of the most essential benefits of using accounting technology is that it makes routine tasks like invoicing and payroll processing that tends to be very time-consuming more efficient. Typically, the software has the capability of taking inputs from various modules and undertaking the processes without any further intervention leaving business owners with more time on their hands to focus on building the business or even get on top of their debts by reading debt settlement reviews online.
Even if you have some accounting system in place, it is always possible to use it more efficiently by connecting it to some useful apps. A research study conducted by Intuit revealed that it was possible for every QuickBooks user to save around four hours per week by connecting to just one app.
With the number of possible integrations above 600, small-business owners can potentially save a lot of time undertaking routine functions like time tracking or expense management.
Small business owners who try to manage accounts on their own simply because they do not have the luxury of to hire dedicated accountants tend to make a large number of mistakes because they are constantly distracted by the other demands of the business.
Further, if they have not been getting the desired amount of sleep, which is very common to busy entrepreneurs, they are liable to make even more errors leading to the generation of false reports, wrong invoices, and more that take even more time to track down and correct.
According to The small balance business, by implementing a software solution for accounting and finance, it is possible to ensure that all the tasks will be completed on time with a high degree of accuracy. A routine job like bank reconciliation that takes a considerable amount of time when done manually can be completed very quickly by the accounting software without any errors to give you the satisfaction that the records match the actual bank balance.
In the absence of accounting software, it is all too straightforward to miss making an entry or enter an incorrect amount that results in a mismatch down the line. When you use accounting software, you can very easily compare the numbers side-by-side, making it easy to spot the mistakes or even signs of fraudulent activity.
In case of a mismatch, the software itself will usually have the capabilities to identify the source. With a correctly set up system, bank reconciliation can accomplish in minutes instead of the agonizing days in a manual mode.
Simpler Tax Filing
Tax compliance can be a nightmare for small business owners trying to do it manually. However, filing tax returns and claiming deductions become very simple when done through accounting software.
When it is time for you to file your returns, the system can pull all the necessary data from within the system and ensure an error-free performance if you have been using it to record all the financial transactions around the year. Another significant advantage of using fintech accounting software is that it is always up to date with the latest tax rules and regulations and prepares the tax returns accordingly.
Insightful Financial Reports
Making sense of all the information, mainly financial information that flows through every business can be a torrid task when it has to be done manually. Accounting software has the added benefit of being able to generate many different kinds of MIS reports that you can use to find out what is going right and what needs to be right in your business.
Generating an income statement or a cash flow statement is now a breeze as are reports of your top selling products and their contribution to sales and profits.
Given the multiple benefits of fintech, small business owners should direct a substantial portion of their surpluses to deploy technology applications, especially accounting software to save on time, increase efficiency, and gain useful insights into the business operation.
Every business owner probably knows what a sales funnel is. If you don’t, sales funnel is a process or set of actions that a customer should go through to purchase your product. Understanding the sales funnel is essential to manipulate it in a way so that your potential customers become your buyers and not chicken out at the most critical moment.
The sales funnel consists of six main stages:
- Awareness: The first stage of the sales funnel grabs the attention of your potential customer. Your goal at the awareness stages should keep them coming back.
- Consideration: Now that they are interested, they start considering the purchase. The goal here is to get their email address.
- Preference: Now, they are hooked. On the stage of choice, you should pre-qualify the prospect.
- Purchase: Once they’ve decided, they should purchase. Here, your goal is to make the sale.
- Loyalty: After they made one purchase, you should keep them loyal so that they buy something else. This time your goal is to make the sale again.
- Advocacy: And finally, they are not only coming back for more but also advocating others to purchase from you.
This article will look into ways that you can decrease the sales funnel by working on the first five stages.
1. Awareness: Blogging
Most probably one of the most recommended ways of increasing your online presence, blogging has proven to be an effective and relatively cheap way of promoting yourself. It doesn’t matter if your business has anything to do with writing – blogging is meant to increase your visibility for search engines and have more customers find you.
Another reason to put blogging on your to-do list is that it is a surprisingly powerful storytelling tool that can showcase the importance of your brand. It is also a perfect persuasion tool.
When used right, blogging can give enormous results. If you are not good at it, you can always look for writing and translation professionals at PickWriters or search for freelancers on Fiverr. It’s ideal for personalizing your customers’ experiences, and this can be achieved by enabling them to access the information on your website in their native language. English is suitable for larger audiences, but when it comes to going global, it is always better to customize your content for each country separately.
2. Awareness: Social Networking
Apart from indirectly impacting your search engine rankings, social networking is also the best way to gain social media recognition.
Your availability on Instagram, Twitter, or Facebook may also influence how much customers trust you. Reviews and recommendations are prevalent on social media platforms, which means that this is where your advocacy stage customers will operate to find you, new clients.
Decide on the platforms perfect for you and create accounts. To link them all in one place, you can use Linktree. There are also numerous social media management apps and programs in case you want to be able to maintain them all from one place or even schedule posts. You might want to check out such services as Buffer or Hootsuite.
3. Consideration: Landing Pages
Landing pages are very different from the home pages. A landing page is a page on your website that has content on it addressing a specific problem and containing a clear call to action. A home page, however, will represent the general aspects of your business. For example, your home page might say that your business is called XYZ and you sell ABC, while one of your landing pages may assume that you sell the EFG segment of products (from the overall ABC) and will include a form to order one of the products.
To increase your conversion rate, it is recommended that you work on your site’s landing pages. Make sure that they are as appealing as possible and have the content on them as meaningful as the images or illustrations. Have a clear call to action. After all, the page’s purpose is to capture the prospect’s contact information or make a sale. To see how landing pages work, try to compare the landing pages of big company websites to their home pages.
4. Consideration: Calls To Action
Calls to action are a must when it comes to conversions. For every page on your website, think of what goal are you pursuing. What work should the visitor complete?
Of course, the ultimate goal is to have them purchase the product from you, but what about the smaller actions leading up to it? Most of the time, you will need your potential customer to click a link, leave their email, or watch a video. Making a purchase already comes after it.
When including a call to action, it is better to have several here and there. This way, your audience will be reminded about the operation several times.
5. Preference: Email
Email marketing is a great way to keep your potential customers involved at least to some extent. But even a simple email answering the most frequently asked questions or explaining the basics of your company can keep the person interested.
If you haven’t had any experience with email marketing yet, then this is the perfect time to start. Collect all the knowledge you may need and plan your email marketing campaign before diving-in. You can also set up autoresponders that send out electronic messages once your customers complete specific actions. Do not forget to thank them for what they do – sincerity and gratitude are always appreciated. On the other hand, don’t bury them under piles of emails because they can unsubscribe or mark them as spam.
6. Preference: CRM
Customer Relationship Management, commonly known as CRM, is a program that helps you track interactions with current and future customers. This software enables you to identify on which stage of the sales funnels your prospects currently are.
By using CRM, you can identify which emails each potential customer should receive based on their cookies and what you already know about them. CRM, when combined with email marketing, is a powerful tool that helps you personalize the experience of every customer or prospect and lead them on to the next stage of the sales funnel.
7. Purchase: eCommerce Promotion
Never assume that your customers will easily find their way to check out. You should guide them up until the end of the process and make sure that they follow the calls to action you included. This is why eCommerce promotion is so important, and here are some ways to use it:
- Marketing Campaigns: Schedule your marketing campaigns around favorite holidays. This will give your prospects an incentive to buy your product.
- New Products: Always email or notify them about new products. If you don’t tell them what’s new in stock, nobody will. They are not on the lookout for new products – you are on the lookout for new customers.
- Offers: Offer them various bonuses and opportunities such as free shipping, live chats, etc. Sales and discounts are a sure way to attract their attention and maybe even convert it into a deal.
8. Purchase: Social Monitoring
Social monitoring will not only help you see who is talking about you but will also let you engage with your potential customers.
Set up Google Alerts to notify you when someone is discussing your brand or something related to it. Monitor who has tweeted at you and reply to their question. Reply to comments under your posts on social media and get involved with both your prospects and your customers.
If someone has written a review of your brand or product, it would be good to see what it is about and maybe even display it to persuade more prospects that you are worth the money. People tend to trust other people, especially when the reviews are not fake or bot-generated.
9. Loyalty: Referrals
Referrals are a great way to appreciate your customers and show them that you value them. Ask them to refer a friend and let them get a reward. It could be a discount or a different kind of bonus.
Referrals are useful for establishing long-term relationships with your past and present customers. They help set up a group of people that will come back to purchase more and help you gain yet another client.
If you think referrals are not for you, you may want to try setting up affiliate programs for your customers, but that might take more time and will require more effort both for you and your customers. Moreover, referral programs do not apply to all of your clients.
10. Loyalty: Resells, Upsells, Cross-sells
Last but not least, resells, upsells, and cross-sells are another way to keep your customers interested in the loyalty stage.
Resells mean that you are selling the same product to your customer that they already purchased from you. If they enjoyed the first, they would probably enjoy it again. The only thing they need is a soft nudge.
Upsells and cross-sells prompts your customers to purchase other items that are similar to the one they bought but that are more expensive. These can also be items that function as a kind of an add-on to the main thing your customer purchased. You can market these either before, during, or after the purchase.
To sum it all up, the sales funnel one of the basics that you should know about your business and operating it. Make sure to try out these strategies to decrease your sales funnel and increase the probability of a potential customer becoming a buyer.
Virtual assistant websites is a service that has emerged in response to the challenge many professionals face, of having to deal with a large number of tasks.
Virtual assistant agency: what it is
Many entrepreneurs, especially beginners, often find themselves juggling their professional and personal activities.
With increasing frequency, we see that people have a greater need to work on several fronts in the professional area. Thus, some activities that are not related to the main tasks of the business end up being left behind or being poorly executed, negatively influencing the development of the company or taking the focus of the professional from its main objective. Having a virtual assistant agency to help with the demands have become a great solution for micro, small, medium and liberal professionals who seek support but do not want or can not invest in a fixed employee.
Managing a business is work that unfolds in many different tasks, all of which require attention and time to realize. You can also find an option of finding a free virtual assistant website.
It happens, that trying to account for everything and still keep your personal life in the axes may be impossible for a person to give an account, and that’s where the virtual advisory comes in.
The terms Virtual or Remote Assistance, Remote Desktop or Virtual Assistant are a new market trend that has been gaining popularity.
As its name implies, it is a remote assistance service, that is, a virtual secretary that assists you in the administration of various issues without occupying a table in your office.
Virtual assistant Business: how it works
Companies and professionals who provide virtual assistant business usually work in their place.
The contract may be made for an indefinite period, or, if applicable, by contracting for a specific activity or project, until it got terminated.
The workload is also flexible and defined according to the customer’s needs. Depending on the workload, a shorter working day may be appropriate.
After defining the plan, activities to be carried out and how the service will be executed and delivered, the virtual advisory company starts the work.
For a follow-up, the client has access to reports and tools that report on the development of tasks.
Virtual assistant websites services: benefits for your business.
The great benefit of virtual assistant websites services is to free the contractor from parallel activities, allowing him to devote himself to Business Strategies and achieve his goals.
By delegating operational and administrative activities, the professional works in a more relaxed, organized and focused manner.
Among other advantages, we can mention:
- Reduction of costs with labor charges and rights;
- Cost reduction with employee training;
- Modification of the expenses with structure and equipment required for work;
- Optimization of time and resources;
- Focus on business growth.
As we can see, hiring a remote assistant generates great cost X benefit, which contributes to the good results of your company.
As you can see clearly, Virtual Assistant Websites are significant these days for your business. It benefits in many ways and most importantly saves a lot of time.
If you have any query regarding Virtual Assistant website, feel free to contact us any time.
Many leading firms around the world have tried to penetrate their business in China. Unfortunately, companies like Uber, Google, Amazon, eBay have seen a significant downfall in China and had to back off their business from China. This shows the severe failure of US-based companies like Amazon failure in China the second largest economy in the world. Whereas, on the other hand, it has become straightforward for companies to penetrate in India. Is like China empowering their local business? And India the neglecting the local and startup businesses?
Reasons for the downfall of tech companies in China
Recently, Amazon one of the biggest e-commerce company has decided to back off their steps from China market. While there may be widely touted reasons for the failure of censorship by the Chinese Government as this may include a difference in the cultural aspects. Well, this factor may have contributed a significant part to the failure of Western Tech companies in China.
If we take the World’s favorite browser Google into account, then Google managed to dominate in all the significant parts of the world, expect a few countries like China. Yes! You heard it right, the favorite browser in the world is not excepted in China, even though Google is present in various other countries but was not accepted wholeheartedly in China.
Not just Google a few years back, Uber abruptly sold its company in China to the chief rival DiDi Chuxing, when Uber failed in flourishing in China.
Like this, there is a lot of global companies such as eBay, Amazon, Facebook who failed in establishing themselves in China.
Chinese People belongingness to their home brand
The question may have arisen until now, Why people of China are not excepting other companies which are not Chinese origin company? We can tell that China already has its alternative social world or the homegrown versions like Baidu in place in place of Google, Ali Baba in place of Amazon, Sina Weibo in place of Twitter, Youku Tudou in place of YouTube.
A lot of Chinese firms innovate safe and knowledgeable software applications so that they don’t have to face foreign competition. We can say thanks to the Chinese Government, which beliefs in empowering their local brands. Processing a ban on the popular platform such as YouTube, Twitter, Facebook. While this clearly shows the nativity and how people love their local application than the foreign one.
It doesn’t end here; the Chinese Internet is way too big that provides an ideal environment for all the large Chinese firms like Tencent the owner of WeChat to well establish itself before it goes Global. As much as 668 million these were the number of Internet users in China, and it outnumbered the US population by 2:1 with a lot of space to grow. With this size, it is visible that it is a difficult task for foreign companies to penetrate and establish themselves in China.
How Companies excel in India?
Recently, India added 1,200 new technology startup companies came to action and giving competition to last year already present 1000 companies. Being a Country with the second largest population in the world, most of the US tech companies target India, which indirectly creates a lot of job opportunities for the Indians. If we take a more in-depth look, then we can see companies like Amazon, Microsoft, Facebook have already started penetrating in India.
Amazon’s success in India is instead an illustrative and notorious one. The first most reason which helped in establishing the company in India is that the CEO’s like Jeff Bezos knows the market type in India and can view the future is potential enough rather than checking the ups and downs that are going to come up. Usually, people look for one to two from now while Amazon aims for 10 to 15 years from now.
It can be said that now the foreign companies have understood that to succeed in the emerging markets, you need to implement all the tactics that will attract the people of the country. For instance, we can say that India is still now not giving access to a lot of Foreign companies. Already established companies instead of thinking for the regulations to change, companies started working in India as a marketplace rather than the retailer.
Foreign Tech Companies Influence in India
Suppose, in India; everyone doesn’t have Credit cards, few people believe in paying while delivering the product. Not just the Amazon, even the case is similar to Facebook, it became an enjoyable social media side for the millennials by a unique way to contact friends and chats. As there was no such local application which can be used to connect with people when Facebook launched in India, it grabbed the whole market.
Wooing the Indians became very easy for Foreign Companies, and they quickly recognize what the Indian people love. Started to occupy the well performing and small companies to make it look Indian having the significant companies base.
Building the right local leadership is essential to keep the organization structured, flat and dull. To emerge in the growing chaotic market of India, moving quickly and coming to action as fast as possible is the primary tactic taken up the foreign companies.
The emerging country like India is the biggest market for these companies to target and expand. As it is emerging, due to lack of new technology, people attracting to foreign goods than local, Government policies, bureaucracy and so on.
Are foreign brands are dominating local brands in India?
According to the latest report by Kantar Worldpanel Footprint, the top 50 companies of India in 2015 contained 35 companies that are local and rest 15 companies are MNC’s.
While if we shift our focus from India to China, 75% of the people use only the local brands and maximum of them comprise from local companies only. In India, we guess people yet need to build trust upon the local brands. Indian customers usually tend to change their choices and don’t elect one brand. People became more sophisticated and well defined with the selection and tend to have a belief in the Foreign Brands as they are already established and known in other countries.
Typically, people think the local brand has a lot of advantage as they can understand the culture of their place and city. While, several other personal care Indian brands such as Chandrika, Vicco, Himani Navratna oil have taken a stand and built a strong, successful local Franchise.
Keeping aside the personal care products, Patanjali an ayurvedic brand, has slowly started taking over the market by making the people believe in the Ayurveda and ancient medicinal values. Not just the therapeutic and personal care, it even includes food and beverage, skincare and apparels.
Local brands are just taking over in some field if we shift our focus from local brands to local technology companies the Indian technology industry fails. MNC’s occupy the primary technology market. There are very lesser-known companies such as TCS, Infosys, Wipro who give fierce competition to the Foreign Tech companies.
This clearly, shows how much the foreign countries have started getting under the skin of the Indians in the Tech field. Most of the Indian Brands are personal care or household requirements. But, in the technological area, we are failing to establish trust between our people, so they support the local Indian Companies.
The Make in India projects also going on simultaneously, to make India self-sufficient creating more jobs to Indians in India.
Supporting and letting the foreign brands establish in the country is the best thing; it gives exposure. If similarly we develop a belief on our own companies and support them, it will provide the company with an extended exposure in the global platform.
There are a lot of companies from India, who are doing a good job. Simultaneously supporting both is important and making your local companies improve will help in the growth of the country.
I hope this helps! And help support the home talents!
The world of business has gotten competitive like never before. The average lifespan of a company was over 70 years in the 1950s. However, the introduction of new technologies and a dynamic business environment has bought the lifespan of an average company to less than 20 years.
Source: on-brand Partners
The sustainability and growth of the companies not only depend on acquiring new customers but also on maintaining the existing customers. According to the report, businesses lose a whopping $75 billion due to poor customer service.
A company needs to grow without harming their customer base. The best way to achieve it is by combining marketing automation with CRM.
Marketing automation means automating repetitive marketing activities, such as emails, website update, social media activities, and so on. On the other hand, CRM (customer relationship management) software lets you understand your existing and potential customers by retaining, analyzing, and organizing their data.
There are plenty of options for you when it comes to choosing CRM and marketing automation software. You can either select two vendors for marketing automation and CRM or choose one vendor to get both pieces of software. Some of the widespread marketing automation and CRM software vendors are Infusionsoft, Marketo, HubSpot, Zoho, Salesforce, and so on.
One of the recommended platforms is HubSpot. It offers both marketing automation and CRM tools to its users. The great thing about HubSpot is that you can get started with HubSpot CRM for free. Even the free version will assist your business to grow. Once you grow your business, you can opt for the paid features.
How can I boost my sales by integrating CRM and marketing automation?
Around 53% of the top-performing corporations have CRM system installed (Source). Another study shows that those companies who invest in marketing automation have increased their revenue by 79% and high-quality leads by 76%.
The results that you can get by integrating these tools are impressive. Here are some of the ways CRM and marketing automation can boost your sales, eventually leading to the growth of your company.
Your company can nurture your leads in a better way
You will not automatically convert your prospects by offering one free e-book or a report. There are a lot more works that you need to do to turn your leads into customers. After capturing the information of potential customers, you should guide them through to a sales process. The process of guiding is called lead nurturing.
The process of nurturing your leads is like building a stable relationship with a woman before you can ask your girl for marriage. You must answer all their objections and give them a solid reason to do business with your company before offering them a product/service.
Once you integrate your CRM and marketing automation software, your system will automatically start sending relevant content to your potential customers, according to their buying stage. It will result in significantly increasing your conversion rate as the system will continue to nurture the leads.
A boost in business intelligence
The study found that more than 50% of internet users are willing to share their personal information, while more than 60% of them expect companies to send personalized messages. What this means is that you will see a boost in your conversion rate if you send out personalized offers to your potential customers.
It is possible to send highly personalized messages to your customer base if you integrate CRM and marketing automation. Your software will capture critical customer data that your audience is willing to share with you. It is possible to use that data later to send out personalized messages to them via various channels.
A highly personalized message will send out the signal to your customers that you care about their needs. It will make them feel important, and that is what you need to do to convince them to do business with them.
The CRM software can use the data and show you many insights like page views by specific customers, time spent, resource downloaded, forms filled, and so on. These pieces of information will help you know the interests and preferences of your potential and existing customers.
After knowing these things, you can use the data to create more personalized messages for your customers. You can intelligently segment your customers and send out emails and messages that will resonate with them.
You can prioritize your potential customers
Not all leads are equal. Some people have better chances of buying your product/service in comparison to others. The 80/20 principle states that 80% of the effects are the results of 20% actions. In case of your business, you are likely to get more revenue from a small portion of your following. Some people are more likely to spend more money in your business than the rest.
One report revealed that over 50% of the revenue of small and medium-sized businesses come from repeat customers. With the help of CRM software, you can know in advance about your leads and their value. The information in your CRM software can allow the marketing automation tools to assign a value to each prospect.
The marketing automation software gives a score to the lead based on their online behavior. It will provide us with a hint about the people that are more likely to purchase our product and stay with us for a long time. After finding out the essential prospects, you can shift your focus to them and get more sales.
Shorter buying process
No companies want to wait for a long time to make a sale. However, there are times when they are compelled to wait to make a sale. It might take them a long time to figure out what the customers want before they make an offer to them. By stating “making an offer” I’m talking about making a relevant offer.
The time to make a sale can be challenging mainly when the users expose themselves to tons of information, which creates a lot of skepticism.
Thanks to advanced marketing automation and CRM software, you can drastically shorten that time. It will allow you to get them to buy your product and convert them into a loyal customer much more quickly than in the past.
You can now send out relevant information based on the collected data and answer their objections quickly to make a sale.
Accurately measure your performance
No one can do everything right. One always need to monitor the performance and continually improve the efforts to get better results. However, one needs to know their mistakes before they come up with an improved strategy.
The CRM software will get you the information, but it cannot accurately measure your performance. However, you can do that by integrating marketing automation software. It can dive deep into your marketing data and offer comprehensive statistics on your return. You will know what tactics are working for your company and what actions are incurring losses.
When you have detailed information, you can stop performing specific actions, update your strategy, and allocate more on the marketing campaigns that are producing results. It will ultimately lead you to have a better marketing strategy in place, saving you money, while increasing sales in a process.
Over to You
Many businesses have reaped the benefits by combining marketing automation and CRM. You can achieve similar results by implementing the combination in your business as well. However, it is not enough to connect both tools without any understanding.
Along with the installation of the system, you should also educate yourself and your team about the ways to best utilize the software for getting the maximum benefits from the system. Hopefully, you have gained useful insights from this article. If you want to add some more ideas, do leave your thoughts in the comment.