But how can SMBs in Asia, in the era of Industry 4.0, convert the potential into reality and find more customers, win more deals, and keep customers happy?
The answer is simple: they should look at leveraging a CRM solution underpinned by Artificial Intelligence (AI).
Understanding how customers behave and finding out what their specific preferences are, is essential for any business in the modern era. If a business doesn't understand their customer on an individual basis, they won't be operating for long. For an SMB, a cloud-based CRM solution is the essential tool to help them answer their customer demands.
Working with the right vendor, like Salesforce, that provides a cloud-based CRM solution underpinned by AI can help SMBs in multiple ways. By using a tailored Salesforce CRM solution, SMBs will concurrently find 28 percent more sales leads; boost their win rate by 28 percent; and increase customer satisfaction by 32 percent.
Salesforce's CRM solution compiles information gained from interacting with a customer -- whether it's through a company's website, or via a sales or service representative, live chat, or surveys and forms filled out by the customer.
This information is then consolidated into a single database that allows SMB employees to have a single view of all aspects of their customers in real time. In turn, this helps deliver a better experience for that customer, provides additional sales and service opportunities, and ultimately boosts customer loyalty and revenue.
For SMBs, customer loyalty and revenue are both qualities that affect a company's revenue. CRM is a management strategy that results in increased profits for a business. At its core, a CRM tool creates a simple user interface for a collection of data that helps businesses engage with customers in a personalised and scalable way.
For Salesforce, AI is about helping SMBs to work smarter by automatically surfacing customer insights, predicting outcomes so business decisions can be made with confidence, recommending the next best action, and in some cases, even automating routine tasks.
With AI like Salesforce's Einstein, SMBs can experience proactive service, rapidly identify issues, and work with customers to resolve problems before they even happen. They can also gain insight into customer sentiment, which can help them deliver a customised, personal experience. This type of insight provides a more realistic view of the customer, and helps representatives understand who may need additional attention and care before they become escalated.
Einstein enables SMBs to find the right prospects for their goods or services and personalise each experience. It also surfaces data so that SMBs can plan marketing campaigns more efficiently based on audience segments, including factors such as age and geography, and ensure they are reaching customers with the right information and offers at the right time.
Salesforce's CRM system allows SMB's to have a deeper understanding of a customer's business, which in turn allows them to develop a strong relationship built on trust and mutual success. A CRM system can help a business:
- Explore customers' challenges: Find out what matters to customers -- their goals, challenges and preferences -- and make sure they have a follow-up action plan. By recording these notes in their CRM system, a SMB can easily pick up the conversation where they left off.
- Engage with relevancy: After a SMB understands a customer's business challenges and goals, it can more accurately recommend appropriate products, special promotions, or content. With CRM, they'll also know what a customer purchased and how they're using products or services, so the SMB can provide the most relevant content and information.
- Scale 1-to-1 relationships: As a SMB, offering personal experiences is key. But as they grow, it becomes more challenging to remember the details of every single customer and know when to follow them up. A CRM platform can capture a complete view of the customer, host email templates, set up task reminders, and enable phone calls to make the follow-up process much faster and easier.
By using Salesforce solutions that are tailored specifically to the needs of small businesses, companies can find 28 percent more sales leads and boost their win rate by 28 percent, all while increasing customer satisfaction by 32 percent.
Watch this CRM Demo now to find out how Salesforce can help your small business to grow.
This article is part of a wider series, read our earlier stories on Industry 4.0 reshaping customer expectations for small businesses in Asia and How AI helps SMBs meet customer's digital expectations.