Seven Ways CRM Helps Ecommerce Businesses

Seven Ways CRM Helps Ecommerce Businesses

Ecommerce business owners should think twice about attempting to run their business without the aid of CRM. The days where you could do without CRM and still satisfy customers are in the past. It is the key to ensuring that every aspect of your business is aligned to support the customer and make more money.Many business owners are surprisingly unaware of the benefits of using customer relationship management software. Here are seven ways that CRM will boost any online retailer’s profit.

Understanding Trends

The fact is those analytics play such a crucial role in the work that any ecommerce business does. There are other ways to drive the data, but you are rarely going to get proper communication between sales channels. Some ecommerce business owners will end up investing a lot of money in analytical software that may help, but it may not either.

CRM is the only way that you can get all of the sales channels connected with each other. This ensures that all the information you are getting from customers, whether they complete a sale or do not buy anything, is delivered directly to the analytics side of the platform. It helps you understand the various patterns and trends that are impacting your bottom line.

In-Depth Analysis

Most of the software that you would use for actual sales is going to give you a very basic overview of what is going on. Sure, you will see some facts and figures, but are you getting the real picture? Can you see what days are the most profitable for your company? Can you assess what types of orders your customers are making above any of the others? This is the type of information that is not only available with CRM but is delivered to you on a plate.

Making money through an ecommerce site means spotting trends before your competitors. It means knowing what you are doing right, and capitalizing on it. This is only possible with advanced analytics, which is delivered to your network by the CRM software you will use.

Merging Company Departments

Too many businesses operate in an environment where one team will barely talk to the other. Sure, there will be some communication at full company meetings, but that is about it. When it comes to ecommerce, it is impossible to run a business in this way. You need communication between every department and team, no matter what task they are currently working on.

The good news is that CRM makes it very easy to chat and share files with colleagues within the same network. Group projects and overarching company goals are a lot easier to handle with CRM providing a communication backbone to the company. Your employees will also have a much easier time managing the tasks they are being sent by department heads.

Curating Leads

You are going to get leads from many different sources as an ecommerce business. But the key aspect of succeeding with online retail is that you must nurture all types of leads, and not prioritize one thing over another. Whether you are getting leads through newsletter signups, organic site visitors, social media interactions or B2B, these leads must be handled with care.

CRM tools help with this process in a big way. With CRM, it is much easier to nurture and engage with these leads in the right way, because you have all of that advanced analytics data telling you what is working. If there is a form of engagement that is not delivering results, CRM data will show this, and your company can tweak its approach.

Sales Trends

One of the toughest things that online retailers must assess is the sales trends they are experiencing through different sales channels. Let us say you have an ecommerce business and there are three main sales channels that deliver you a good amount of purchases. That is a good start. But how can you maximize your returns from each channel?

With so many sales channels, it’s likely that you are selling on Amazon, eBay and need a Shopify CRM software solution that talks to these channels and your primary one at the same time. Thanks to CRM, you can get all of the customer data that is necessary to understand buying trends over several weeks and months. These trends will show you the times when a specific sales channel is doing the most business. And it will also show you whether a particular channel is giving you heavy sales on a particular product or section of products.

Pooling Data

Given that you are going to have your CRM software connected with your company’s entire network, it means that you are collecting data on a scale that was not possible before. Everything is collected, analyzed and entered into the system. Whether it is a social media interaction with a new customer, a chat with a loyal buyer or sales from a particular channel – all of this data is available to analyze and use to your advantage.

Having all of this data in one place means that coming up with the right sales strategies is much easier. Sometimes companies are running blind when it comes to the plans they make. They will try something and hope that it works. But your company will be taking a 100 percent data-based approach with everything that you try after your CRM integration.

Returns

Handling returns are something that every company must manage. No matter how hard you work to satisfy the customer and to stock great quality products, some items will get returned. Whether a mistake was made on your end, or the customer just wanted something else, you must manage these in the right way. And the good news is that CRM can help.

Thanks to the analytics that are built into the CRM interface, you are getting a ton of data regarding the sales that you are making. And this data is also telling you whether a specific sales channel or product is being returned more than others. For instance, you may find that some products you are selling are being returned at twice the rate of the other items in your store. This means that you may have to switch up the supplier of those products to ensure you are satisfying your customers and limiting future returns.

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