Sales are complex process of getting to know your customers, understand their needs, and satisfy them. Today’s prospects are more educated than ever before and therefore you must be educated too.
Knowing all your prospect’s interactions with your brand whether it is on the website, chat, emails, etc. will give you insights to tailor and personalize your communication with your prospects.
Also with AI and predictive analytics will be and your team on top of your sales to see, which opportunities are most likely to be close, what contacts you should contact to keep the sales going, and more.
With powerful CRM Dynamics 365 Sales, you can expect to speed up your sales process and yet keep your customers and prospects happy. Create a seamless experience for your customers with your brand at any time.
In this article, we will look at one of the biggest marketing challenges your business in Malaysia and Singapore is facing and how you can use tools like Dynamics 365 Marketing to deliver optimal marketing results and not be wasting the marketing budget, losing your potential leads and having a higher cost per lead and cost per acquisition.
Currently, most of the marketing effort shift to digital marketing due to the pandemic covid-19 and with that tremendous amount of data is generated every single day causing basic marketing automation insufficient for marketing reporting as customers data are scattered, not aligned marketing and sales team, broken customer experience and no insights to improve marketing results.
This causing marketing teams to struggle to deliver optimal marketing results and not wasting marketing budget by not optimize digital marketing strategies.
Marketing automation has been on the rise for over a decade and many tools have come upon the market to help marketing teams to better manage email marketing, lead nurturing and create personalized ways to connect with prospects. But basic marketing automation can barely manage the complexity of buyer journey, advertising, and prospects expectations from brands.
Modern digitally savvy prospects expect brands to connect with them on their terms, at the right time and place whenever prospect wants, which brings many challenges businesses to have to face to win the prospect.
Therefore, marketing teams cannot rely on just basic analytics, email marketing, and lead generation tools that are disconnected or not seamlessly connected into one business intelligence to lead the way of prospects. Because scatter customer data across different platforms slows down the process and reduces the decision-making ability of what should be the next marketing move.
So, with so many challenges and marketing business pains we would like to discuss the 4 biggest business pains marketing is facing right now.
Lead Nurturing Does Not Rely Solely on Email Marketing Anymore
The traditional lead nurturing strategy; put a piece of content on the website, promote the piece of content across your website on blogs and with pop-ups, set up a form to download the piece of content in exchange for prospect details like email and name, put prospect into email automation sequence and qualify a prospect and be leads rolling in is not working anymore and it is an old method of doing lead nurturing.
Nowadays, lead nurturing requires much more than that and prospect does not respond to emails like they used to do and often leave email marketing unread or bounce back as lead nurturing is no longer enough to rely solely on email marketing to nurture leads and qualify them.
That is when a new trend and way of driving leads the Multi-Channel Marketing to bring new complexity and challenges to businesses to engage with their prospects in the way how and when they want it.
Finding and nurturing more leads across multiple channels and turn them into long-term, profitable relationships have fundamentally changed since email automation came a decade later and a more robust and complex marketing solution is required.
Sales and Marketing Use Different Tools to Track Customer Interactions
Aligning marketing and sales teams is a buzzword flying around that has been mentioned countless times across almost every business blog and journal to address this issue.
In an optimal business scenario, customer data are naturally floating into an ERP system where business intelligence transforms the data and brings customer insights with actionable information in real-time to make smarter decisions.
But with marketing and sales teams using different tools to engage with customers and track customer interactions it is causing data disruptencies and silos between these two departments even though for their success they must be cooperating as one.
Marketers often Rely on Guesswork and Intuition Rather than Intelligent Insights
A tremendous amount of data is generated by marketing activities every single day and for optimal marketing results, marketers are pushed to make data-driven decisions from those data.
But numerous marketing channels are being used by marketers and often without seamless integration or a single source of truth, so marketing teams are overwhelmed by the volume of data they must analyze.
According to Gartner, at many organizations the most experienced data scientists spend their time wrangling and formatting data – 46 percent of data science teams are relied on to prepare data for analysis, leaving little time to conduct actual analysis.
So with that being said, 54 percent of organizations state data quality and completeness is the biggest challenge with data-driven marketing and 57 percent of marketers are incorrectly interpreting data and likely getting incorrect results.
Optimal Marketing Efforts May Requires Several Platforms
As is already mentioned, marketing teams are using numerous platforms and channels to conduct their marketing efforts and bring customers and leads for their business, which brings difficulties to bring all the data together and effectively transform it into insights.
To win your customers you must not only rely on the single-channel as your digitally savvy prospects are researching numerous digital channels and according to FocusVision the average number of content pieces consumed is 13 whether it is from emails, blog posts, industry publications, social media, or internet searches.
That means prospects buyer journey consists of numerous channels to research products or services and to win the prospects marketing teams must ensure that they can provide that information across them.
This means marketers must analyze siloed data from these platforms causing insufficient and time-consuming reporting often lead to incorrectly interpreting data and likely getting incorrect results.
What is Dynamics 365 Marketing?
Microsoft Dynamics 365 Marketing is a marketing-automation application that helps turn prospects into business relationships. The app is easy to use, works seamlessly with Dynamics 365 Sales and has built-in business intelligence. By seamless integration with Microsoft Dynamics 365 ERP & CRM systems, your business in Malaysia and Singapore can connect Marketing, Sales, Customer Service, and other departments data to improve personalized messaging and targeting for your marketing.
Businesses with disconnected tools are facing problems of pulling their customer data to create actionable insights to enhance their marketing campaigns and results. Without customer data, marketers are unable to create personalized buyer journeys for their prospects and naturally lead the way. Therefore basic marketing automation systems are unable to cover all marketing business needs such as lead generation, lead qualification, manage customer journeys, segmentation, and event management to create a seamless customer journey experience.
Microsoft Dynamics 365 for Marketing comes with advanced features to bring all the intelligence Marketers needs to increase lead generation and bring more qualified leads, better manage customer journeys, create powerfully segmentation and personalization and create great offline and online events with event management capabilities.
How Dynamics 365 Marketing Improve Your Malaysian and Singaporean Marketing?
Dynamics 365 Marketing provides you with the tools to personalize business experiences and bring yours scatter customer data together, fix broken customer experience, provide security and compliance, and bring insights to improve marketing results.
It features easy-to-use tools to help marketers conduct successful:
Multi-channel campaigns can be targeted to attract the right prospects. The new release has new, customizable templates, dynamic campaign A/B testing, and improved natural language capabilities in creating targeted segments.
Event management using a wide array of user-friendly tools including a built-in events portal that provides registration and attendance tracking. Expanded entity options allow users to customize how data from form submissions is classified.
Insight gathering and reporting using continuously updating multimedia source segments from Customer Insights. Integrated Microsoft Customer Voice survey capability helps you to achieve a 360-degree view of your leads.
Expanded use of natural language makes it easier to create targeted segments.
It runs on an adaptable unified platform, providing you with ready-built integration with other Dynamics 365 products such as Dynamics 365 Sales, as well as other content management systems. Dynamics 365 Marketing fits easily into your customer campaigns.
AI-driven insights, lead scoring, and custom dashboards improve automated marketing performance. Features include smart scheduling and spam scores.
Gain even Deeper Insights with Dynamics 365 Customer Insights
The app takes a data-centric approach to lead generation, utilizing customer insights and orchestrating effective customer journeys.
Marketing drives the business by identifying and nurturing prospects and delivering highly qualified leads to Sales.
With Customers Insights, organizations gain deeper insights about customers which drive personalized business processes and experiences across marketing, sales, and service. Here are some examples of the scenarios that customer insights can enable:
Lead gen – increase conversion by focusing on your best prospects; enrich customer data with external data such as brand affinity or preferences to better predict which prospects are most likely to convert
Campaigns/segmentation – create more accurate and micro-targeted segments to better reach prospects and customers; send segments to executional tools for email campaigns, mobile messaging, etc.; use a combination of events, location, user profile attributes, and historical data from Customer Insights to deliver personalized information, content, and offers
Website/content personalization – surface personalized and relevant content to develop an authentic and emotional connection with customers
Product recommendations – provide customers with sophisticated recommendations for complementary products or services instead of just the things the customer has already browsed or bought
Next best action – surface the next best action for salespeople so they can engage with confidence
Service use cases:
Proactive, omnichannel support – democratize data and empower front-line employees to make decisions, e.g. having a 360-degree view of the customer enables the agent to make calculated exceptions for high-value customers; by utilizing rich and robust customer profiles generated by Customer Insights, call center agents can deliver not only personalized but also consistent, interactions which leave customers with a sense of being valued and understood.
Cross-sell/upsell – recommend products and services that are a better fit for customers
https://adynamics.com.my/wp-content/uploads/2020/10/Marketing-Challenges-your-Malaysian-Singaporean-Business-is-Facing-Now-and-How.jpg8001200Eduard Dziakhttps://adynamics.com.my/wp-content/uploads/2020/12/Agile-Dynamics-Solutions-Microsoft-Partner-in-Malaysia-and-Singapore-Logo.pngEduard Dziak2021-05-09 16:53:002021-05-10 15:13:38Marketing Challenges your Malaysian Singaporean Business is Facing Now and How to Fix Them with Dynamics 365 Marketing
Selling requires more than just pitching to your potential customers about your products or services the whole day. Your sales team needs to level up its game as did your prospects.
Today’s prospects are more educated than ever before due to the vast information accessible on the internet. 60% of the buyer journey is completed before a prospect contact a salesperson.
That means your prospects spend most of their time researching your products and services from numerous sources before they contact you. Also according to IDC, almost 70% of the buyer journey is done digitally.
Which gives a great opportunity for your business to establish yourself as a subject matter expert if you are able to lead them through the buyer journey with the online information they need to make a decision.
Therefore make your salespeople more educated and prepared. With modern solutions such as Dynamics 365 Sales, you can know more about your prospects than ever before. Understand the steps they took before and why they are searching for your products and services.
Digital is the new norm, and companies must take advantage of all the tools available to deliver the best customer experiences, become more agile and efficient and stay competitive.
Just being “online,” however, is no longer a competitive advantage—businesses must now plan the seamless integration of data across every part of their organization to obtain a complete picture of their customers. Keep these technological and digital trends in mind when creating, optimizing, or expanding your digital transformation strategy.
4 Disruptive Business Trends Sparked by Digital Transformation
Disruption was the name of the game in 2020 and businesses in Malaysia despite cutting budgets have rarely valued information technology more.
From remote working and collaboration to enable employees to work from anywhere at anytime technologies like cloud computing and remote collaboration tools have played a significant role in mitigating the damage caused by a global pandemic.
Now, businesses in Malaysia are much better equipped to work from home, office, or anywhere else, but that is only the beginning as the new normal is going to stay.
Companies face threats from both traditional competitors in their own field, and more significantly, from the non-traditional competition. These competitors can be social media sites or large online retailers who enter their business and disrupt the way products and services are sold.
Given the accelerating pace of change, companies need to transform themselves for a world where they are no longer protected by entry barriers, competition comes from all directions, and digitalization will become the major agent of change.
We believe that companies will need to embrace innovation and encourage new ideas. They also need to respond with agility and take advantage of regulatory changes.
2. Changing Customer Expectations
Nowadays, everyone wants a simple, personalized, and seamless buying experience. In this new “switching economy”, customer loyalty is at an all-time low, and switching from one brand to another is easier than ever thanks to always-on availability and eCommerce.
According to SuperOffice, customer experience has fast become a top priority for businesses and 2021 will be no different and it can be challenging providing a consistent experience across all channels. A gold standard here is IKEA.
If you visit any IKEA store around the world, you will get the same experience. IKEA invests heavily in customer experience. Last year alone, they’ve opened more stores, invested in its home delivery network, and launched a brand new app – all to the benefit of their customer.
3. Complex Regulatory Environments
Compliance is a critical issue in every industry, but some, like insurance, are subject to new rules year after year, and carriers are forced to comply with increasingly stringent regulatory requirements.
Meeting compliance obligations in a dynamic regulatory environment is complex. If you ask security, compliance, and IT professionals what keeps them up at night, the most common response is simple: data. It’s just one word, but it carries so much weight for organizations these days.
The amount of data being created, shared, and stored today has grown exponentially. Adding to that, the requirements to keep it all secure, private, and compliant are more complex than ever before.
From managing hybrid environments to keeping up with regulations, it’s vitally important you trust the partner that handles your data.
4. Increasingly Frequent Customer Claims
Thanks to the ubiquity of personal devices and the deep integration of social media channels, customers can now voice their concerns, claims, and demands at any moment to thousands of other users. Negative reviews can appear at any moment and have a long-lasting impact on a company’s reputation.
5 intelligent business trends driven by technological integration:
Many things are going to change, business models will need to be adapted and a lot of those changes will come the way how businesses will be using technologies to become more productive, efficient, save costs and do more with less.
Even reluctant institutions now acknowledge that the cloud is a business requirement for scalability and delivering desirable customer experiences and that having a holistic, data-driven understanding of customers is a prerequisite for creating these exceptional experiences.
The volume, variety, and velocity of customer data, and the analysis needed to derive meaningful insights, demands cloud speed and power, as well as advanced analytics capabilities.
Simply said, cloud technologies are a big shift for companies to manage their data cost-effectively and at the speed of growing business, regardless of the number of resources.
And of course, the security and reliability of cloud technologies make the protection, disaster recovery, and business continuity easier and less expensive because data can be mirrored at multiple redundant sites on the cloud provider’s network.
2. Data and Advanced Analytics
Thanks to artificial intelligence, data, and advanced analytics capabilities have evolved tremendously—to a point where organizations can now provide better customer experience at a fraction of the cost via machine learning of customer spending habits and the increased desire for suggested, tailored offers.
Nowadays, the expectation of traditional BI systems is extending into a new area, analysis-oriented business intelligence. Organizations want to get a 360-degree view of their customers in a timely manner, identify the root causes of success or failure in business operations, and control as much future uncertainty as possible.
3. AI, Voice, Biometrics, and RPA
Voice and biometric technology are already impacting numerous industries, such as banking. In fact, several financial institutions are constantly trialing different solutions to improve customer experiences as well as reduce risk and fraud.
Apart from delivering frictionless customer experiences, chatbots enable immediate customer interactions with organizations, regardless of time or place.
Open APIs enable third parties to build services on top of other companies’ data and infrastructure. In an ever-connected world, open APIs allow for connected customer experiences with faster products and services at lower cost and risk.
Greater accessibility to data and services, and new market entrants, will make it essential for businesses to consider new approaches to staying competitive.
According to Gartner, the business value added by blockchain will grow to slightly over $176 billion by 2025, then surge to exceed $3.1 trillion by 2030. Blockchain technology is not just about security—it’s also about the customer experience.
For example, blockchain enables financial institutions to offer their customers assurance that transactions are secure and encrypted. Not only does this help solidify the bank-customer relationship, but it also helps strengthen financial security on a macro scale.
https://adynamics.com.my/wp-content/uploads/2021/04/digital-strategy-trends-in-malaysia.jpg7171414Eduard Dziakhttps://adynamics.com.my/wp-content/uploads/2020/12/Agile-Dynamics-Solutions-Microsoft-Partner-in-Malaysia-and-Singapore-Logo.pngEduard Dziak2021-04-22 12:35:002021-05-05 11:48:319 Trends to Keep in Mind When Creating A Digital Strategy
https://adynamics.com.my/wp-content/uploads/2020/06/What-Are-the-Top-Signs-Your-Business-Outgrowing-Accounting-Software.jpg8001200Eduard Dziakhttps://adynamics.com.my/wp-content/uploads/2020/12/Agile-Dynamics-Solutions-Microsoft-Partner-in-Malaysia-and-Singapore-Logo.pngEduard Dziak2020-06-30 14:17:312021-05-27 15:44:38The Top Signs of Your Business Is Outgrowing Accounting Software? [Infographic]
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Since 1990 Agile Dynamics Solutions helping businesses to digitally transform with ERP and CRM systems. ADS has become the leading Gold Microsoft Partner of Dynamics 365 ERP and CRM applications with a 100% implementation rate and the largest customer base in Malaysia and Singapore.
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