Changing CRM Strategy under the Millennials Influence
The emerging businesses are striving to gain competitive advantage and win over a larger market share. To stay ahead, organizations are polishing their objectives and trying to find actionable improvement of CRM strategy. Currently, consumers called millennial are stealing the show from other generations and drive new buying habits, service requirements, and brand communication patterns.
Establishing and solidifying a place for your company, you consider the impact of millennials on business strategy and need to retool staff with a new CRM. Without further ado, let’s focus on the approaching tendencies to beware of shiny new things and get ready to graduate with profitable mainstreams.
Upcoming CRM Trends
At least a decade ago it was quite challenging to create tangible lasting connections with clients, and CRM system played a role of customer financial transaction history, not the tool for relationships building we know it today. There is a number of trends that influence the business world, and CRM industry isn’t the exception. So, nowadays the following aspects should be included into your CRM strategy:
Escalation of millennials who set up new loyalty and communication with companies,
Promoter economy is a web-version of word-of-mouth marketing when customers praise your brand online, and
Conscious customer with deep knowledge of the product or service and market offer in general.
In this flow of events, the relationships with customers turned in the contextual communication via digital channels. So, you should be able to meet the clients where they are plus offer them expected service or product.
Millennials: View from Both Sides of CRM
Building your CRM strategy, make sure you’ve paid attention to the fact that millennials may be both: potential customers and employees. This generation is incredibly tech-dependent and develops their social connection in a digital way, so these people expect the answer or solution instantly anywhere to any question. Under these aspects, CRM has turned from a contact manager to a platform that encompasses sales, marketing, and customer support.
Without doubt, the success of CRM initiative depends directly on the user adoption level. In that way, your CRM implementation strategy should include millennial-focused features:
Tools to track every important activity
Plus, ensure you respect their knowledge and experience (as these people are technically-savvy), empower them emotionally to achieving higher results, and provide your team with tools that meet their exceptional expectations.
Meeting Millennials Expectations
As we know the functionality and perception of technology evolves, the interactions become more digital - customers communicate with the brands via apps, social networks, emails, etc. There is no reference to the good old days, millennials have changed this processes. Being interested in purpose, this generation wants service right away from the beginning and all the way along.
The loyalty to a company or brand has upturned, and these customers consider buying from you far more than a mere transaction. Sometimes, millennials are called “Me Generation” due to the fact that they expect personalized and customized service.
With this knowledge at hand, you can build your CRM strategy in the way to provide the emotional connection, being aware of the customer preferences, needs. Moreover, you will succeed if you provide additional products or complementary services and that means the constant tracking and analysis of targeted audience.
Must-Haves to Include into CRM Strategy
Some companies are trying to fix the wrong problem and fall by the wayside instead of achieving expected results. To deliver value to your clients and facilitate business processes, involve in your CRM strategy the next points:
Mobility. Millennials got used to switching between different channels and contexts in the communication process. Furthermore, they prefer to stay in their app while wait from you to be accessible everywhere.
Social CRM. Some of CRM solutions have a built-in integration with social media and enable you with various tools and techniques that help to collect invaluable data to complete the existing profiles, as well as measure the interest in your product or service.
Fast-forward to the present, and things are getting much more exciting. The advent of millennials, promoter economy, and conscious customer bring changes into business and CRM strategy. If you felt doubtful about incorporating of mobile and social CRM, it’s high time to reconsider this position. While some innovations may be too shiny, you need to beware of their capabilities and find out how to take the most of them for your success.
P.S. There are a few CRM platforms that support social media integration, and in case you are willing to switch your company data to one of them, Trujay is just the job. Don’t wait up for magical signs, you can set up a free Demo Migration and see the service in action.