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Why Multi channel CRM is Considered the Future of Business Growth

A multichannel CRM approach is the key to increasing business sales, improving your marketing strategy and developing better customer services and products.

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Companies that adopt omni-channel customer engagement strategies are able to retain up to 89% of their customers year-on-year. But that alone is not enough to drive consistent growth. Businesses need to take advantage of customer data analytics to get critical business insights that will help them understand their customers better and improve experiences across different platforms and user devices. There is no doubt that investment in professional digital marketing services is growing, but decision makers need to turn to more effective customer engagement strategies like multichannel CRM to drive further growth.

Multichannel Adoption is Growing

Serving today’s customer is no longer about waiting to get potential leads. Industry professionals at CBS-CBS.com note that smart businesses understand that going where the customer is, is the way to go. With an ever-growing multichannel world that’s driven by mobile adoption, businesses are expected to focus on expanding their operational channels and customer touch points. Improving customer interactions across all channels should be a priority for any brand that wants to meet the demands of today’s customers. Multichannel CRM is the key to getting data that will help you highlight opportunities for growth.

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While web-based CRM solutions are still popular Pixabay

Customers Want a More Personalized Experience

Customers expect you to provide a consistently reliable customer experience across all interaction points. Whether they interact with you on social media, via online chat, phone or testimonials, they expect a personalized experience. Taking a multichannel approach with your company’s CRM software is what will help you achieve this. With a complete view of your customer-brand interactions, you can understand what your customers really want, what makes them stick to your brand and how best you can improve their experience. With the right multichannel CRM data analytics, you can meet the needs of your customers and drive growth.

Mobile CRM is the Future

84% of companies that operate on a customer-centric approach focus on the mobile customer experience, according to Super Office Statistics. Mobile CRM is growing fast, especially in the e-commerce and retail sectors, with the average customer connecting with an average of 4.5 devices, most of them mobile devices. To achieve better efficiency and drive growth, you need to take advantage of the power of mobile CRM in your multichannel approach to customer engagement. While web-based CRM solutions are still popular, mobile CRM is leading the way when it comes to giving businesses an edge over competitors.

CRM
Serving today’s customer is no longer about waiting to get potential leads. Industry professionals at CBS-CBS.com note that smart businesses understand that going where the customer is, is the way to go.. Pixabay

A multichannel CRM approach is the key to increasing business sales, improving your marketing strategy and developing better customer services and products. Businesses that choose to stick to standard business practices can no longer compete with those that embrace a multichannel approach in their customer relationship management strategy.

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How did Baniya Billionaires Become Digital Anarchist? (Tech Trend-Part II)

"Unlike entrepreneurs who believe in concentrating on business administration, baniyas are hawk-like people".

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Cell phone without batteries
Life beyond chargers, cords and dying phone- Researchers, including one of the Indian-origin, have invented the cell phone that works without batteries. Pixabay

The great Indian baniya community, single-mindedly focused on business and keeping a close tab on profits, has embarked on a digital journey to understand their customers better and boost growth.

Utilising new technologies like Artificial Intelligence (AI), Machine Learning (ML) and data analytics in their businesses, they know better what the young buyers’ preferences are.

Today, India’s Gen-Y shop using a mix of online and offline modes where they compare prices and refer to reviews online even when they shop in an offline store.

The traditional acumen, mixed with New-Age technologies, have unleashed a new breed of baniyas who are defying old wisdom and charting new courses.

Business
Behind every successful entrepreneur, there’s an army of loved ones having their back.

“Anyone can set up and start a business with a small or a big idea or investment but without having a business sense, the knowledge of trade and the market trends, they can’t survive. Baniyas are ahead in this game with additional support of family culture and community,” says Anoop Mishra, one of the nation’s leading social media experts.

Indian millennials — aged 18-35 and accounting for nearly 34 per cent of the population — have driven e-retail industry’s growth through their increasing Internet usage, says global services firm Deloitte.

“Millennials’ increasing usage of internet for shopping has driven growth of online retail. E-retail is expected to surge from 3 per cent of total Indian retail market in 2017 to 7 per cent by 2021,” said the report.

Convenience of buying anywhere and anytime, discounts and access to products not available offline are some of the key reasons for India’s Gen-Y going online — and Baniyas know this well.

Prasoon Gupta, Co-Founder and Director, Sattviko Foods, says his idea was to offer a snack that finds its origins in traditional Indian recipes but with a modern twist for young consumers.

“Right from coming up with a unique idea to differentiate ourselves from the other players, and what they deliver, Sattviko has overcome many hurdles and has thrived in its journey to where it is today,” Gupta told IANS.

Tips to expand business
Tips to expand business . Today, India’s Gen-Y shop using a mix of online and offline modes where they compare prices and refer to reviews online even when they shop in an offline store.Flickr

He has developed an AI-based technology platform called “JIGSAW” to enhance and scale-up the distribution medium.

Ola is serving over one billion customers annually and is creating employment opportunity for millions through its ride-hailing platform.

Ola Co-founder and CEO Bhavish Aggarwal who set up the firm some eight years ago believes the future of employment is micro-entrepreneurship.

According to Mishra, “Unlike entrepreneurs who believe in concentrating on business administration, baniyas are hawk-like people”.

“This is the secret to their ever-flourishing business,” Mishra noted.

Also Read: World’s First Fully Solar Powered Airport In India

Baniyas are strict with keeping their balance sheets up-to-date. They are also a closely-knit community and adhere to their clan’s unwritten rules very strictly.

The inner community network plays a big role, where they have enough access to trade or business knowledge, availability of funds and other resources. Almost all of them have retained the hard-nosed approach of their forefathers.

“The current army of baniyas knows by heart how their forefathers worked. It is deep down there, even if they live and study abroad and then start their business back home. It is right in their genes,” said Mishra. (IANS)