Smart Phone Technology and Market Segmentation
CRM, combined with smart phone (mobi) technology, takes targeted marketing to new levels, enabling small business owners and marketing execs to track client engagements and touch clients via iPhone, ‘Droid or Blackberry.
Place an ad in the paper and you pay to have everyone see it even though most people don’t or won’t. Segment your target audience through the use of CRM, synched up to mobi technology, and you target prospects, leads and clients with the right message at the right time – in REAL time. That’s what today’s consumers expect. Meaningful connectivity. Examples?
Banks notify customers when account balances are low so the customer avoids expensive overdraft fees. Banks, using CRM and smart phone texting, simply send out notifications of low balances, suspicious account activity or promotions and incentives to keep existing customers of the bank in place.
Further, using CRM, in conjunction with a web site and mobile marketing, equips business owners to evaluate what’s working and what isn’t, and to make adjustments on the fly. No more waiting to see how a print ad pulls or how many sign-ups a direct mail piece delivers. CRM, digital and mobi technology provide real time analytics so small businesses don’t waste marketing dollars on campaigns that don’t show a positive ROI.
Using CRM and mobile tech in tandem enables marketing directors to break out campaign numbers hourly if they want to. You can’t do that with a big, expensive ad in the yellow pages.
The key to marketing success for small business is the ability to track results ASAP – the best reason to consider a robust CRM program and mobile tech. With these tools, small business marketing dollars go further and convert significantly better than passive, traditional marketing channels like print and direct response.
The key is to allocate marketing budgets where you see the highest rates of conversion. A one per cent conversion rate on a direct mail piece is considered a success, but to capture that one per cent, you spend a lot of money to mail a four-colour brochure to the 99 per cent of recipients who dump it in the recycling bin without a look.
Using CRM, a well-designed web site and smart phone technology, small business marketers hit the client bull’s-eye more frequently and at significantly lower costs.