Last updated on September 7th, 2020
CRM technologies have revolutionized the eCommerce landscape. When deployed strategically, a CRM system will help you centralize and manage all customer interactions and touchpoints with your brand. You will also be able to identify the main problems in your customer relationship management strategy and flag prospects that require additional nurturing.
In other words, the advantages of CRM for online retailers are multiple. Here are some of them.
1. Improving Customer Service
In 2020, customers expect eCommerce companies to provide immediate customer service across all channels they use. No matter if they want to ask a question about your product or experience a problem that needs quick resolution, tech-savvy customers want your customer reps to address their problem quickly.
If you do not meet their expectations, chances are they will abandon the purchase and never come back. According to Glance, it takes 12 exceptional customer touchpoints to make up for one negative experience.
CRM allows you to centralize customer data collected across different marketing channels in a comprehensive database. That enables faster cross-team access to customer data and profiles, irrespective of your employees’ location. They can see if a prospect visited your eCommerce site, downloaded your ebook, or spoke with your customer support team. Reps can even take notes from their customer support channels directly in your CRM.
When centralized within a single platform, customer data will be easily searchable. Above all, it can provide your customer service reps with real-time assistance in solving customer problems. For example, many small business VoIP systems integrate with CRM and pull caller data directly from it. Therefore, before a call center agent picks up the phone, they will receive caller data, such as their name, age, education, preferences, previous purchases, location, and customer service inquiries. This data will help them provide highly targeted customer support.
2. Centralizing Lead Gen Data
Lead generation is the nerve center of your eCommerce business. Today’s leads are tomorrow’s customers. There are many lead generation tactics to use, including creating lead generation quizzes, using gated content, nurturing leads with live chat, offering free trials. And, just like any other part of your eCommerce marketing strategy, lead generation requires the use of multiple tools.
However, managing prospect data across multiple tools may be too time-consuming. With CRM software, your team will never need to waste time logging emails and customer interactions manually. Your CRM suite will collect customer data from all lead gen tools you use and store it in a single place.
3. Segmenting Customers
One-size-fits-all eCommerce brand messaging does not cut it anymore. Your customers expect you to understand their specific needs, problems, frustrations, and preferences. Above all, they expect you to provide highly personalized user experiences. Studies say that most customers are ready to pay more to get relevant deals and offers.
When creating targeted marketing campaigns or sending email newsletters, you first need to segment your email list. In other words, you need to slice your email list down into smaller, more relevant groups of people that share the same characteristics, values, or goals. For example, you could segment your list by customers’ locations, previous purchases, gender, browsing history on your website, etc.
That is where your CRM tool can help. Your marketing and sales teams will be able to filter the list by location, company size, or customers’ stage in a sales cycle. To take personalization to the next level, you can also integrate your eCommerce platform with AI-driven eCommerce tools like Kevy. Kevy’s AI engine creates over 30 targeted customer segments for you.
4. Personalizing User Experiences
Many eCommerce businesses are striving to achieve “the Amazon effect.” Amazon is a perfect example of a customer-centered company. The eCommerce giant has built its name through spotless customer relationship management.
Jeff Bezos once explained that Amazon is not competitor-obsessed. On the contrary, it is customer-obsessed. And, that is what helps the brand overshadow other industry players by a large margin.
By investing in the right CRM tool, you can do the same with your online retail store. For example, CRM integrates with your email marketing software, allowing you to address your prospects and existing customers by their names. You can also impress them by knowing what products they already bought or what kind of content they like. That is what Amazon does.
The benefits of personalizing your marketing tactics are multiple. That way, you will improve open and response rates and build trust with your target audience. You will encourage their loyalty and encourage them to come back and purchase from you again.
5. Creating Better Sales Reports
With a CRM tool, your sales teams can automate and manage their pipelines, contacts, and offers more effectively. CRM automates data collection and organization, allowing employees to observe their vital sales KPIs on visually appealing dashboards and comprehensive reports.
Apart from keeping track of sales, CRM software gives your sales and customer service teams a chance to evaluate their productivity. They will be able to set clear goals so they can know what they need to do to attain their quotas.
6. Automating Predictive Analytics
To drive sales and grow your online retail business in the future, you need to plan everything strategically and make informed decisions.
That is where CRM steps in. With its reports, you can monitor key eCommerce metrics, such as your monthly recurring revenue or year-over-year growth. That way, your sales and marketing teams will be able to identify industry trends and build more precise performance-related forecasts.
When setting the right goals and measuring eCommerce metrics, your teams will understand what their most profitable lead generation and sales tactics are. This data allows them to update sales funnel estimates and create sales projections for the upcoming months.
Over to You
Using a CRM tool will enhance your brand image and positively impact your bottom line. It will improve your employees’ productivity and communication, since all information will be kept in a central location. Greater data accessibility and transparency will help your teams personalize marketing and sales strategies, enhance customer support, and predict industry trends more effectively.