Technology has changed the way consumers purchase products and services, and the way businesses transact and engage with their customers. Can your business keep up with the constantly evolving needs of your customers? Here are some tools to help you keep up with the pace.
A Pricing Tool
We can say that product pricing is synonymous to assessing the value of a product, from the business and the customer’s standpoint. To put fair and proper pricing for a product, a business relies on gathering historical, as well as current information, with the use of a price tracking application or software.
To set competitive price points and decide on the right amount for promotional and introductory pricing, a business has to be aware of the historical and current value of a product. This also helps in marketing the product, especially when it comes to highlighting the value of the product, which comes in the form of features or services.
It is through proper pricing that a business can fully market a product based on the value that customers get for the amount that they are paying for.
An All-in-One Data System
Another excellent business tool is the CRM or customer relationship management tool. This software can be accessed on a cloud platform or installed on-premise. A CRM is quite intuitive, as it gives the business owner a snapshot of all of the information that they need, just by looking at their dashboard.
The information displayed can be modified and allows the integration of 3rd party business apps, allowing the business to create a system that is tailored to their business needs. One of the most important information that a business can gain from using a CRM is the ability to study their customers’ buying habits, trends and purchase frequency.
These pieces of information are helpful for the marketing team, in developing marketing strategies and offers based on their customers’ historical and current purchases, as well as in reaching out to customers for promotions or retention purposes.
Engage with Your Customers
Customer engagement plays a huge role in your business’ ability to retain your customers. Fortunately, today’s technology allows communication teams to engage with customers through the different communication platforms using a single access point, normally through a CRM.
All forms of communication can be handled and managed in one place, whether it’s email, chat, voice, or through social media apps. This makes communicating with customers much easier, more convenient, and much faster. Issues are addressed and resolved quickly, and questions are answered real-time.
Customers are always looking for information before and after purchasing a product or subscribing to a service. Some of them will have follow up questions, some will raise issues about the product or the service.
Having the capacity to respond to these messages in the quickest way possible is key in keeping the customers happy, engaged, and loyal to the business.
So don’t be left behind. If you still rely on manual computing and paper-based data management, it’s time to make use of these new technologies to keep your business ahead of the competition. Start using these tools today and see a huge improvement in your sales and your overall day-to-day management.