03 Nov Attracting Millenials: Could Custom Software Hold The Key?
Statistics show how important custom software development services are for your business. It’s been found that CRM software gives businesses an average ROI of $8.31 for every $1 spent. Other research shows that customer retention is increased by as much as 27% with a CRM system in place.More businesses are now investing in CRM software to improve marketing and sales. In today’s business world, it would be foolhardy not to do the same.
It’s important to remember that millennials are a specific type of people and their generational difference means that they have different needs and expectations compared to other generations.They are very much more individual-centered, which is demonstrated by the popularity of concepts such as selfies. They care a lot more about looks, appearances and how they are viewed in the world. This is why custom software is so important if you want to attract millennials and market to them successfully.Consider how much more tech savvy and social media oriented millennials are compared to other generations. Most are now using or are familiar with social media. In fact, many are now using social media to communicate with businesses they have purchased from, they use it to ask questions and also raise concerns. According to Wurlwind:[tweet_box design=”default”]37% of B2B buyers ask questions on social media sites when looking for answers.[/tweet_box]An integrated software that combines social media makes this much easier to communicate with millennials and provide them with the superior customer experience that they demand. Combine this with other aspects such as automated email marketing and you’ve got an intelligent marketing system on autopilot that helps grow your business.
Understanding Your Audience
If you want to market your product or service effectively then you need to understand your target audience. This is always the first step in any effective marketing. Without an understanding of your target market, you are committing business suicide. Custom software uses powerful back-end analytical tools that allow you to determine certain facets of your target audience so you can deeply understand who you are marketing to.The most important things you need to know about your target audience are their demographics and psychographics. Even if you are a new business and aren’t completely sure of who your target audience is, this will help because you’ll be able to compile data that informs you of who your ideal target audience is.
Smart Analytical Tools
You’ll know certain characteristics relating to their demographics like:
- Average annual income
- Single, married or divorced
- Number of kids
You’ll also know important information relating to their psychographics like:
- Political affiliations
- Pains and frustrations
- Purchasing behaviour
If you can understand these kinds of criteria about your target audience then you’ll know how to market to them. You’ll know what their biggest problems are and what they need.This helps with your own marketing because you’ll know what products you can develop that will help them. If you have existing products you’ll know if they will be a good fit for them or not, and you’ll also know what services you can provide to them.
Automated Behavioural Marketing
The major advantage with CRM software is that you can market to your customers based on their behaviour. Essentially, this creates a much more personalised experience for your customers, and a positive one where they feel like you understand them.This understanding leads to brand loyalty and a strong relationship between the customer and your business. According to Business 2 Community:[tweet_box design=”default”]Three out of four customers say they spent more money with a company because of a positive customer experience. [/tweet_box]The real beauty with this is that you can set the system up so it does the work for you automatically. For example, if someone on your email list doesn’t open one of your emails then you can set up processes to market to them based on that behaviour.Or if a customer buys a low priced front end product of yours then you can set up processes that offer them an upsell based on their purchasing behaviour.Then you can segment your customers into different groups. You might have one segment of customers who are repeat customers and another that have purchased from you only once. Then you can set up processes to market to both kinds of groups differently based on this purchase behaviour. The intelligence of custom software ensures that you can target many different groups of people and this marketing intelligence could be the key to not only attracting millennials but keeping them as a valued customer. As mentioned earlier, CRM software gives businesses an ROI of $8.31 for every $1 spent. It’s too invaluable to miss out on. If you’d like to know more about custom software development in Perth and how it can improve your business then contact Red Rock Software today.