2020-Innovation > Researches > Business Resilience and Sustainability

Business Resilience and Sustainability

It means more than revenue and brand recognition. It means staying power: through market peaks and valleys, across established and emerging markets, and spanning decades. It means attracting engaged customers who purchase frequently, tell others about the service, and stay loyal to your brand.

But what happens when a crisis hits like the one we’re experiencing now — with individuals, businesses, and leaders all reeling from a topsy-turvy market and global economic uncertainty?

Now is the time for mobile brands to shore up their business strategies to ensure they can succeed in any economic climate. And this is how: by obsessing over customer data, making smart revenue decisions, and prioritizing customer retention above all else.

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Make Real-Time Decisions Based on Data

A customer-centric mindset is always important, but when the economy is in flux staying close to your customers is imperative. You must be able to pivot on a dime to understand and deliver what your customers want moment-to-moment, seize opportunities, and quickly course correct.

With so much uncertainty around the coming months, more mobile brands are throwing set strategies out the window and embracing real-time marketing. The ability to react instantly to world events and customer needs poses a major advantage and allows brands to build personalized marketing campaigns that show empathy for their customers and connect to their immediate context.

The only way to do that is to keep a close eye on numbers: analyze key metrics and watch real-time behavioral trends so you can be as responsive as possible to shifting customer interests.

Reduce Costs and Increase CLV

When belts get tightened, the first things to feel the pinch are typically external vendors and tools. When evaluating your tech stack, ensure you’re accounting for the Total Cost of Ownership to ensure you’re using the right platform and getting the most out of your solution. Look for all-in-one tools that offer both customer analytics and engagement, and have strong partnerships that eliminate hidden costs like charges for each push notification or email sent.

Optimized Onboarding

One in four mobile apps are abandoned after just one launch. Getting your user onboarding flow just right is the difference between exponential churn and exponential user growth.

Create a great first impression — and boost retention — by keeping the onboarding process simple and demonstrating value as fast as possible.

Whether your onboarding flow is a product walkthrough, new user registration, or feature carousel, keep the focus on benefits, not features. Only ask for essential personal details and permissions, and stick to the key features and UI elements that are absolutely necessary to help users experience the app’s value.

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