Customer Relationship Management (CRM) systems are integral in developing and growing a successful e-commerce business.
Not only does they help online companies understand their clients; they also helps deliver a better, more personalized customer experience. It has the power to enhance efficiency, convert sales and increase revenue.
Here are five steps for an e-commerce business to take in order to implement an effective CRM strategy.
Understand the Benefits
Before deciding on a CRM system, it’s important to understand the unique benefits that a good CRM platform can provide. By taking the time to grasp the full breath of possibilities, business owners are better able to discern which software and systems will work best for them.
When used properly, a CRM system has the potential to anticipate the needs and wants of any customer that visits an e-commerce website. It does so by tracking consumer movements and distilling that information into creating personalized communications specifically for them. These actions have the power to encourage repeat business and customer loyalty.
Collect Good Data
Data collection is given for any successful e-commerce business. The trick is collecting the right data.
Good data is always customer-centric. It includes their demographic information, communication preferences, purchase histories, campaign responses and various interactions with the company’s many outlets, including social media posts, mobile app and website storefront.
Collecting this type of customer-facing data allows businesses to more accurately understand their consumers and thereby improve the overall sales experience to cater to their preferences.
It does not benefit e-commerce companies to silo their data.
When businesses allow different departments to operate in separate CRM systems, they are setting themselves up for failure. Data isolation causes each department to operate off of limited, disparate data sets, which prevents them from improving their customer service and streamlining their marketing and sales campaigns.
CRM integration gives companies an all-encompassing and accurate view of their consumers and business practices. When data is integrated into a single unified CRM platform, it empowers staff to work together to analyze the accrued data and make strategic decisions based on that information to better serve their customers.
Now that good data is appropriately integrated, it is time to track and analyze what is collected.
By understanding customer behavior through their compiled data, e-commerce businesses can more easily identify which marketing and sales strategies will resonate with their audiences.
What emails are they clicking on? What pages are they visiting? What products are in their cart but not purchased?
Answering these questions can then help online companies create unique promotions and communications for each visitor based on their movements and interests. More personalized outreach is a powerful conversion tool for businesses and increases the probability of each sale.
Analysis also extends to overall company viability and growth. CRM integration offers managers access to a birds-eye view of the business’s successes and failures and what changes need to be made to reach profit goals.
Teamwork is the secret ingredient to truly successful CRM integration.
For example, an email campaign requires the directional eye of marketers, the customer insight of sales and the final review of management. By creating a unified CRM workflow, each department has access to an accurate and complete picture of what the campaign is about, who it is going to and how it is being personalized to speak to a specific subscriber segment. They can then work together to create the best possible campaign.
After sending, managers can monitor the performance of the email communication through analyzing open, click and subscription rates and viewing total increased revenue as a result of the campaign. They can also see how employee workflows are helping to drive sales and what needs to change to make each workflow more efficient, profitable and meaningful for consumers.
In order to take full advantage of the benefits of customer relationship management, an e-commerce business must be willing to integrate their data, appropriately analyze it and make data-driven decisions based on their findings. By following the above steps, online businesses set themselves up for long-term prosperity.
Publish Date: March 8, 2021 7:34 PM