Understanding How CRM Helps Ecommerce Companies Excel

Opening an ecommerce company is not a hard task. Thanks to the internet, and the low startup costs associated with many of these ventures, anyone can open an online shop. However, getting the store to a point where you are making money and it is providing you with your sole source of income is another matter. This is where customer relationship management software can help.

Whether you are running a two person operation or you have a massive team as part of the operation, CRM software will make everyone’s lives a lot easier. But how does this Customer Relationship Management software work? And how will it help an ecommerce business?

Understanding Trends and Analyzing Data

When you have an ecommerce business, you are relying on getting enough people to buy the goods or services that you are selling. And that means knowing what items are in demand and what items are not desired by customers. Thanks to the analytics tools that are available with ecommerce CRM software, there will be no need to pay for expensive analytics or to have a consulting firm help you understand where you are doing the most business. All of the data will be available to you.

There are so many different data points that you may want to analyze. For instance, your company can benefit from knowing the buying habits of your customers, understanding return patterns, assessing the costs vs. profits of various items you are selling and understanding what sales channels are providing the most sales.

Bringing Everyone Together

It may sound unusual, but CRM software can help to bring your entire company together for a single mission. There is a tendency among companies, even relatively new ones, to split up into different groups and teams. You will probably have teams for the different operations associated with your company. However, the communication between those teams may not be very good at all. You would be surprised to know that employees from one team have barely communicated with guys on the other team regarding your company’s objectives.

CRM can help with this problem. Thanks to the built-in chat and video conferencing features, communicating within the company has never been easier. And with ecommerce, where many companies consist of employees who are in different locations, such communication is vital. Whether you are sitting in the same office building, or a hundred miles apart, CRM software makes communication much easier. And it also includes task management and file sharing features that will help employees finish projects in a timely and organized manner.

If your bosses are struggling to get everyone on task, CRM will make the job easier. The task management features mean that sending to-do lists and assessments to employees is much easier. And since employees can easily send files when they are completed through the software, the entire chain of command has this data available. Everyone in the company with access will know how projects are coming along – instead of being in the dark until they are specifically briefed.

Nurturing Leads and Assessing Buying Trends

If you are running an ecommerce business the right way, you are getting leads from many sources. Email newsletter signups, organic website visitors, social media interactions, B2B leads and other avenues are all providing you with potential customers.

But do you know how many are arriving from each source? Do you understand how often each lead is engaged with and nurtured? You need to know what steps your company is taking to properly nurture leads.

Thanks to the analytics capabilities of CRM, you will know precisely when a lead is being properly nurtured, and when they are not. This will help your company do the right things in the future.

Having all of this data also means that buying trends are easier to understand. For instance, do you have a set of products that sells more in the summer as compared to the winter? Is a sales channel giving you a ton of business in January, but almost no business in April? These types of trends are hard to spot without CRM software. But when they are presented to you, it will be much easier to attempt to understand what is going on and how you can use it to your advantage.

When you are able to analyze buyer behavior in such an advanced way, it means that every future offering is tweaked based on this information. You will know what products to stock in greater quantity, when to have sales promotions, how much of a discount to apply, which sales channels to target with specific sales, and what products are satisfying customers the most.

Mass Data Collection

All of the above benefits are only possible because of the mass data collection capabilities of ecommerce CRM software. There is no other platform that will allow you to collect every tiny bit of data that is related to your company’s operations.

Since CRM is so intertwined with how your company operates, everything from chats between employees to communications with customers are logged. And all of this information is data that you can use to make your company more efficient and productive in future quarters.

No matter if you are running your store using a combination of marketplaces like Amazon and eBay or you have a hybrid cross-channel solution, there’s a solution for everyone. A quick look online will result in you finding customized services for everything from 3dcart to Shopify and even a WooCommerce CRM software system that helps you improve the customer journey and create better relationships.

Minimizing Returns

There is no shame in having some products returned by customers. It happens to the best companies and with the highest quality products. However, you may not even realize that you have some products being returned at a higher rate than others. How can you know when you never had the means to collect the data? But now you do. With ecommerce CRM software, this data is readily available. You can see what percentage of each product is being returned. You can even assess the return percentage among your sales channels, or your lead generation avenues.

You can use all of this information to reduce returns in the future. Maybe you will need to tweak your offerings to cut out products that are being returned at a high rate. Or maybe you will have to work on marketing your items differently to a specific sales channel. Whatever the solution is, the CRM will help you find it.

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