How CRM Customer Segmentation helps you grow your business? - Kapture CRM

It’s a basic principle of any business that something made for everyone will inevitably fail at completely fulfilling anyone’s need. The presently congested industry forms a perfect proof for this hypothesis.

In the marketplace, there are fewer and fewer products which universally cater to every taste – like I-phone or Big Mac.

You can’t imagine fewer products or packages that could be termed as universal darlings.

If you are not incisive and targeted, it’s hard to achieve any headway in a competitive and saturated marketplace. You need to retain your strategic focus for achieving the right audience penetration.

There is only one way to achieve this accurate audience understanding.

CRM-based Customer Segmentation

This involves collecting and managing all your customer data through an integrated CRM platform. The CRM platform automates the collection of all customer data and parameters on a single platform.

Further, you can use this customer data to filter and derive meaningful assumptions about your customer groups.

Well, let’s look deep into this.

Why you Need a CRM to manage Customer Segmentation

As expressed earlier, the role of customer segmentation is to effectively reach and engage a specific audience segment.

The goal of customer segmentation is to understand your users. An effective customer segmentation strategy involves utilizing the right parameter or attribute to segment your user base.

For this, you need to select the right customer segment or slice of the overall audience. Otherwise, even a small business with meager audience numbers could end-up choosing the wrong audience attributes leading to wrong consumer understanding.

Without direction to obtain right parameter, you could get stuck at umpteen number of permutations to segment your audience in a congested marketplace.

If you are provided with numerous options with no clear directive, people are most likely to end up making mistakes. You may even segment your audience simply based on irrelevant audience parameters that may simply lend you the feeling of being smart or market-ish without actually achieving anything.

A situation similar to this is caught to perfection by this evergreen Dilbert Cartoon.

But as Scott Adams captures through the graphics, it’s set to fail you.

If the right customer segmentation is be the key to understanding your users, biasing your decisions on incomplete data will simply lead to the skewed point of view about your customer.

For this, you need an efficient system of managing and segmenting your audience groups.

The CRM-based customer segmentation model is ideal to bring about realistic and positive segmentation of your audience.

How to Segment your Audience Groups

In-order to zero-in on the right customer groups, you need to filter the right customer attributes. This needs you to possess a successful customer segmentation.

The act of CRM-based customer segmentation could be broadly described as given below.

1. First consolidate all audience and customer groups.
2. Recognize the most critical attribute among entire audience circles
3. Filter the successful audience group
4. Look for similar attributes among the independent audiences

This involves creating an initial customer model and then strategizing better ways to sell to that audience.

Creating an Initial Customer Model

For expanding your customer base, you will need to create a customer model based on already acquired customers. This will involve the ideal parameters such as age, lead acquisition channel, marketing campaign, etc.

This lets you create an ideal segment to reach and communicate your customer message. You can also get through the many permutations of your customer messages to reach the optimal conversational message.

Segment your Marketing Channels

In a highly fragmented marketplace, you cannot get visibility just through the muscle power of your marketing budget. In-order to attract maximum attention, you need to receive maximum visibility through different marketing channels and platforms.

The easiest way to achieve audience penetration is through marketing to a look-alike audience. This audience resembles your present day consumers. The look-alikes would find your product useful, but aren’t acutely aware of their requirement.

For this, you need to first segment your existing audience group. Afterwards, you can receive specific characteristics of your audience members. This involves age, orientation, marketing preferences, prospect requirement, etc.

This helps you build a productive marketing strategy that helps you leverage maximum benefit from your existing customer groups.

Further, you can create a marketing strategy that helps you to appeal and acquire look-alike prospects. This can help you increase audience penetration without even increasing your marketing budget.

Segment your Sales Efforts

According to market studies, 30% of the total revenue can be attributed to various up selling and cross selling efforts. For this, you need to make sure that you are providing personalized options to your consumers.

By following CRM customer segmentation modeling, you can readily recognize each part of your audience segment. This readily recognizes your right customer segment.

This allows you to significantly drive-up your rate of revenue acquisition.

Conclusion:-

In the present day of confusion, you cannot handle your customers or leads in a come-and-go basis. You need to take a concise strategy that will address your precise audience demand.

This requires you to have a system of automated customer segmentation and filtering like CRM.

Manage your Daily Sales Meetings on a CRM Platform - Kapture CRM

According to stats by Oxford Economics department, face-to-face sales meetings are still more effective for a deal closure than virtual meetings by over 85%.

With keeping this data in mind, it makes sense that companies should try to arrange maximum number of customer meetings in all feasible ways.

Even as the face-to-face sales meetings are definitely more productive, they can only be conducted at the convenience of both sales person and a willing prospect. It’s enough to consider the pure economics of time and transit costs involved to make you scramble for an alternate sales strategy.

In this situation, you need to have a smarter way of arranging meetings and transits. This helps you to arrange more meetings and meet your specific sales targets.

The CRM-based Mobile meeting arrangement is an ideal way to plan and arrange these meetings. This helps you simulate a better plan to meet maximum number of prospects within a given timeline.

A CRM-based Mobile meeting management system lets you set and align meetings across the relevant geography. This system allows you to utilize every opportunity for arranging potential sales meetings.

This may appear to be a lofty claim. With customer’s apprehension, you may ask the following question.

Very well, but how can it help me to create opportunistic meetings with real sales prospects?

Wait, let us explain.

Challenges in managing Pre-sales and Deal Closure Meetings

An experienced sales manager knows that the path to final deal closure meeting is long and winded.

Sometimes, a prospect may take up-to five preparatory meetings before the prospects make the final decision to close or drop the entire sales exchange.

This could put even the most confident sales managers into a state of constant contemplation about their field approach.

Can I remotely manage the field efforts?

Should I accompany meetings?

Where is my best opportunity?

This usually includes the introductory meeting, pitching meeting and negotiation meeting. Needless to say, this deal closing procedure is time consuming and often confusing. Sometimes, you may even lose track of where you stand with every sales prospect.

In these meetings, you are also required to manage and consolidate objectives of every sales team.

How CRM helps you marshal the challenges of every meeting?

As indicated earlier, managing sales meetings are about arranging maximum number of meetings within a given amount of time and energy. This requires you to arrange meetings and handle client commitments across the city. Simultaneously, you also need to set specific objectives for each sales meeting.

SaaS based Mobile CRM system is best suited to meet this objective. It helps you open-up clear communication channel with every prospect over the geography.

This helps you open-up integrated communications between the management and sales personnel at the field attending meetings. This helps you manage clear communication channels with each and every field employee.

It allows you to make sure that you aren’t just stuck at communicating motivational messages.

Realizing an Optimal Meeting Pattern

Before arranging a sales meeting, you may need to answer multiple questions.

Can I possibly have my best option attending the critical meetings? Will this prospect need more technical answers? Could there be a better meeting pattern?

The success of a good sales manager lies at finding the right answers to maximum number of these questions.

A CRM platform lets you simulate a plan to cover maximum geography and maximize your meeting attendance.

Mobile Location Tracking and Reporting

A Mobile CRM should be able to objectively figure out a meeting pattern that realizes maximum number of meetings across the geography. For this, you need to have a daily plan that reaches maximum number of prospects within given working hours.

The SaaS mobile system lets you track employee location across the geography. Letting you know about the current location of an employee at any given time.

Further, this lets you simulate a plan to arrange maximum number of meetings across the geography. By plotting the transit routes of each field employee, you can leverage possible meetings for each employee.

Aligning Specific objective for every meeting

Rather than having another fluffy conversation, every sales meeting should have a definite objective. The end success or failure could be determined by the outcome of each meeting.

Without an objective, you may come out of every meeting without achieving anything special, but feeling ecstatic about the entire ordeal.

Alternatively, you can set specific goals for each meeting which combines to form timeline for your ongoing sales meetings.

This makes customer communication a part of every potential sales meeting.

Non-intrusive but efficient communications

The Mobile CRM platform helps you manage non-intrusive communications within the CRM platform.

The function of a sales manager is to be supportive or provide sufficient inputs to the role of sales management. A mobile CRM platform lets you have non-intrusive means of communication for every customer portal.

Conclusion:-

If your client portfolio is spread across the city, maximizing your customer exposure without burning out your field employees can be anything but easy. The SaaS mobile tracking system lets you create a smart visual plan to arrange meetings across geography.

Why You Need a Lead Nurturing and Lead Management Program? - Kapture CRM

Most businesses consider leads to be the fuel that powers their business. But experienced businessmen will tell you that leads are nothing without having them converted into actual customers. For this, you need to possess high quality leads that have high probability of conversion.

By totaling both these aspects, you will know that you are not only required to attract leads. You are also required to actually identify and segregate quality prospects out of those acquired leads.

This requires you to have a systematic lead conversion process that addresses the issues and prevent prolific lead conversion. In this article, we will examine the significance of a lead management system in driving higher conversion rates and sales.

Lead Nurturing Platform is a Definite Requisite

Most businesses are used to receiving their leads as an initial form of inquiry. But this goes against the logic of acquiring customers.

Well, let us explain.

Broadly speaking, prospects are known to follow a certain selection procedure across independent industry verticals.

After the initial stage of choosing a business, most prospects try to get a wider touch-and-feel of the marketplace by simultaneously sending inquiries to multiple related service providers. This wider perspective allows businesses to get the touch-and-feel of the entire industry vertical. Later, it comes down to short listing and selecting a winning business.

But, the very nature of this selection process will leave most businesses on the losing side. Also, prospects can easily get confused about the features list or conflicting USPs.

With this in mind, businesses are required to connect and engage with their prospects to enable greater customer acquisition. This situation demands you to introduce prospects and build awareness around your particular business.

Lead nurturing and management platform allows you to manage and streamline diverse customer opportunities on to a single dashboard. By streamlining lead data and management, you can start taking the best course of decision that influences each prospect. Consequentially, this also helps you to increase lead conversion and response ratio. In the end, you are enabling your prospects to differentiate and reward your particular business.

Steps on Lead Nurturing and Management

As mentioned earlier,lead management software helps you tackle the challenges and blockades that prevent you from achieving better conversion rate. For overcoming the particular limitations and prejudices, you need to have a well-organized lead management system.

Now let’s examine the feasibility of acquiring better quality prospects through a lead management system.

Prolifically useful Customer Data

Almost all businesses are required to collect and manage a lengthy list of customer contacts. But contact information without context will remain just plain contact data.

Lead management system gives the right context and meaning to your collected data. It can store and update all relevant user data on a single server.

With relevant customer data, you can incorporate user information into different aspects of pitching and acquisition. As the data is collected with customer assent, it also sidesteps the risks that are the part and parcel of unchecked 3rd party data.

Additionally, Cloud Servers lets you retrieve and manage the entire data set through a single platform. This gives you a better overall understanding and utility concerning your customers.

Reconnect with Prospect profiling data

As mentioned earlier, prospect engagement is an important part of modern business operations. But when you are handling a larger pool of prospects, it will get harder to manually engage your prospects.

Here, lead management system helps you reconnect and engage with a large base of prospects. It combines diverse customer data that is collected through multiple contact points – Sex, age, Job, interests, preferred contact mediums, etc.

This process lets you derive a strategy to realize long-term customer engagement.

Realize Customer Outreach for positive business Exposure

With the proliferation of multiple business platforms, direct customer outreach and exposure could hardly get more complicated. For instance, if you are running a campaign based on 3rd party data, it’s possible that most of your messages are deemed unwelcome. In these cases, it ends-up being marked as spam or leads to low open rates for your messages. Under these circumstances, your campaigns run a greater risk of losing its potency.

Lead management platform lets you collect and use the contact data acquiring the desired exposure. You can also collect multiple user contact points such as E-mail and website contact data. This enables you to run focused ad campaigns that have higher response rates. It also helps you build successful customer outreach programs.

Conclusion:-

If you can improve the way of acquiring and managing prospects, it also improves your lead conversion. Lead management platform combines lead acquisition and prospect management activities into a single platform.