No business can survive without customers. Good customers are the foundation for the success of any business. A business is doomed to fail if it cannot attract and retain customers.
Realistically, it’s a difficult task to retain customers especially when competition in any niche is too-tight. But in the eCommerce world, it depends upon how well a business interacts with its clients. That’s why eCommerce stores invest money heavily to reach out to their clients, determine their needs, and learn their preferences. And, this is what Customer Relationship Management (CRM) systems do for online businesses.
In this blog, I am going to focus on how CRM benefits your eCommerce business and what solution you should consider for your eCommerce business.
1. Building Industry Authority
It is indispensable for an eCommerce store of any size to build industry authority because they will have to compete with other businesses selling the same products at different prices. So, the stakes of winning confidence of your customers are low if you’ve low industry authority.
Look at the example of Amazon; it is not just a website offering eCommerce services, but also has become a giant player on the market, overshadowing other eCommerce stores by a large margin. It didn’t happen overnight through paid advertisements or paid influencer programs. This eCommerce giant simply built its reputation through the careful building of customer relations and offered numerous incentives for developing loyalties to its website.
Why can’t you do the same?
Just introduce CRM features to your existing process, offer freebies, small discounts, or exclusive content to your customers and you’ll see your industry soaring. And, the most important thing, make your brand a serious contender in your niche, and time will come when you’ll be a top-performing eCommerce website.
2. Higher Conversion Rates
Every eCommerce store has one goal: to achieve higher conversion rates. In reality, it is not that simple to attract visitors to your website and convert leads into actual customers. But don’t worry; here comes CRM to play its role in increasing your lead generation and customer retention.
How can CRM make you a lead-generating machine?
So, the answer is linear: they work on to improve curated product lists, custom search categories, and wish list discounts that ultimately add up increase conversion rates by a high margin.
This study says, ‘ Considering CRM software and processes as an integral part of sales funnel will help convert leads into buyers and higher the percentage of conversion, the easier will it be for you to dominate your industry.’
Quick Fix: It is good to incorporate an effective CRM, but wouldn’t it be good to ask questions before choosing an eCommerce CMS – maybe your existing CMS in incompetent to deal with complex issues, possibly you could take advantage of other features by switching to another CMS for eCommerce.
In short, always rely on secure and easy-to-use eCommerce platforms for CRM integration and your conversation rate will progress incredibly.
3. Gathering Customer Data
Customer data is highly important for eCommerce business. It is information that can help an online store to improve its services because once a customer signs up, he has to enter details i.e. email addresses, delivery addresses, and phone numbers. Through the use of this information, it can make the performance for a web store more efficient and customer-friendly.
4. Customers Engagement
Good CRM solutions equip businesses with lots of tools that encourage customers for extra purchases: loyalty points, coupon codes, discount notifications. Later on, these promotion tools attract more customers and help to boost sales.
5. Availability of Predictive Analytics
Predictive analytics helps CRM for better planning and goal-oriented strategy building for an eCommerce company. So, CRM is not just about online sales but also driving analytical information for better services. An eCommerce business of any size should keep in mind that having fundamental indicators are not sufficient to analyze the performance.
That’s why; an effective CRM system generates predictive analytics about in-demand products and services, successful promotions. They offer impeccable predictive analytics to ease up planning and sales forecasting.
6. Customer Support
The majority of the businesses underestimate the importance of customer support – which is a big mistake. According to Forbes, businesses lose billions of dollars annually due to poor customer support.
But, in the eCommerce business, you can’t afford to lose your reputation. Once you lose customers, they will never come back and your competitors will benefit from your mistakes. So, CRM solutions keep your customers engaged as they have built-in tools to enhance your interaction with customers. For example, most of the CRM is powered with chatbots which can greatly improve customer service.
So, having a CRM for eCommerce helps in streamlining the workflow of customer support departments, which will keep your customers fulfilled.
Most importantly, nothing can satisfy customers more than your speed of resolving their key issues and they will feel valued and cared for. As a result, it will improve brand awareness coupled with visibility and will boost your eCommerce website’s revenue.
7. Social Media Integration
Social media is vital for eCommerce business. No one denies its role in improving eCommerce store visibility and online sales. It is a big marketplace for online retailers who want to leverage social media. In 2019, the top 500 retailers made more than $ 4 billion from social shopping, and it led to a rapid increase in their revenue growth more than ever.
Adding social media integration to a CRM system is crucial for an eCommerce business as it can bring thousands of new leads, helps your online store generate massive profits. The cherry on the top is that leads are more likely to convert after going through a positive review.
The eCommerce industry is a fickle market where staying relevant is a big challenge. Don’t fret about consequences, by implementing CRM software; you can get a competitive advantage in your industry. Now is the time to leap in faith. By the way, the benefits of CRM of eCommerce I discussed here are the proverbial iceberg. Add CRM to your eCommerce store and you will see your results going through the roof.