The Secret to Beating a Bad Economy

Jenna Trott

5 min read | DECEMBER 8, 2022

Beating Bad Economy-blog-acsgbl

Inflation is high and business is slow. Prices have gone up and people are looking to be more conservative with their money moving forward. Companies are looking to cut costs and cut jobs. So far in 2022, there have been 146,407 layoffs within the tech industry alone. When the economy begins showing signs of slowing down, it can be easy to feel stressed or even hopeless. But, all is not lost! There’s a secret fountain of youth for your business to take advantage of, and it’s easier than you think to implement – starting today. We’re talking about the power of personalization. This seemingly small change can make all the difference for your company. Let’s take a look at how.

Personalization, it’s simple, but effective. Think of how Netflix knows which shows you’d most like to watch after binge-watching your favorite series to completion. Or Spotify Wrapped, which you’ve likely seen trending on social media. This “look-back” at your yearly listening milestones has proved to be a hit amongst Spotify consumers, but it’s proved to have even greater effects for the Spotify company. In 2020, Spotify Wrapped was responsible for increasing Spotify’s mobile app downloads by 21% alone in the first week of December. The key takeaway here is that personalization leads to engagement, and engagement leads to growth – even in times of economic hardship. Recent studies show that these days, 56% of customers expect offers to always be personalized and 61% of consumers are willing to pay 5% more if they know they’ll get a good customer experience.

Image Credits: Spotify

Unfortunately, the current state of company business does not reflect this prioritization of meeting customer needs. In a recent study, it was determined that 75% of companies believe they are effectively meeting their customer’s needs, when in reality, only 30% of customers actually agree. So, what does it take to deliver a customer experience that deepens customer loyalty, drives upsell opportunities and improves customer retention? Simple, let’s take a look at how Salesforce can help.

Creating Personalization at Scale with Salesforce

Think about the way you felt when you received a personal gift from a friend; a gift that not only aligned with your interests but really represented even the most nuanced parts of yourself. There’s no doubt you got that warm fuzzy feeling inside! When customers interact with your business, it should be the same! With Salesforce, you can easily provide that level of service via the following channels:

  • Websites
  • Mobile apps
  • Emails
  • Web apps (like a SaaS application)
  • Online ads
  • In-store/in-branch communications
  • Online chats
  • Call centers
This personalization can look like a number of things, like: a financial services industry that displays content recommendations based on each visitor’s individual interests, or a healthcare agency that highlights the most relevant products for each individual. This level of personalization can be achieved through Salesforce’s Customer 360:

What is Customer 360?

Customer 360 is Salesforce’s suite of products and services that helps 98% of customers meet or exceed their ROI goals. This unique solution unifies your marketing, sales, commerce, service, and IT teams around each and every customer to drive personalization and customer loyalty.

What are Customer 360’s Key Features?

There is so much you can do with Customer 360, but as it applies to personalization, it helps to:

Better Understand Your Customer: Advanced capabilities capture and unify customer data across all mediums for a 360 degree view of relevant information. This means that all of your teams get a shared view of every customer, allowing superior collaboration to deliver better experiences for your customers.

Turn Mundane Interactions Into Magical Moments: Genie, Salesforce’s newest addition provides powerful automation, always-on intelligence, and real-time hyperscale data to further drive personalization efforts.

A Complete Customer History: Your customers have a history prior to your company and they’ll create a history with your company as well! Easily collect data regarding customer’s interests, pain points and goals to tailor experiences for their specific needs.

One of the greatest things about Salesforce’s Customer 360 is that just as it can provide personalized experiences for your customers, it can be customized to your needs as well! Customer 360 is designed to be molded around the needs of every business, in every industry depending on their goals and requirements. So while some may benefit from addressing a specific personalization concern, others may want to totally digitally transform their business with Customer 360. If you’re worried about your business in a bad economy, talk to us! We’re here to help. Access Global Group acts as your premier Salesforce Consulting Services & Managed Services experts. With over 15 years in the industry, Access Global Group has become Summit-Level partners with 5-star ratings on G2 and the Salesforce AppExchange. AGG has over 250 Salesforce certifications and have successfully completed 500 Salesforce integrations and over 1,500 Salesforce projects throughout five different countries. As Summit Salesforce partners, we use our technical expertise to meet your unique needs and generate real change within your organization.

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