The use of Custom Relationship Management Software ( CRM) is prevalent in B2B space. However, in recent times there has been an increase in CRM use within B2C space. So how is the software influencing the ecommerce industry? Basically, it is doing that by bringing customers closer to a business. With competition in the ecommerce market getting tougher, it is no more only prices that lead a customer to an ecommerce store but it is also excellent customer assistance as well as support. The good thing about CRM is that it helps in the act exactly and should not be neglected by an existing or planning ecommerce seller.
Companies who are facing fierce competition are seen adapting to CRM and using it for the better customer experience. Also, companies are taking to CRM’s one that can be integrated with their Magento install for valuable customer experience insights as well as data analysis.
With the use of CRM getting more and more noticeable it will not be wrong to say that it is no more an option but a requirement and that it is influencing the ecommerce industry to a large. Let us highlight some influences-
- Better customer segmentation- As the CRM allows for collection as well as segmentation of relevant customer data so it works as an assistant for both Marketing and sales team. The data can be armed by both the teams and used for efficient customer conversation and conversion.
- Better customer communication- There are too many points of contact and for a business to engage and retain customer they need to find out varied channels where they can interact with a customer. Because the interaction is no more limited to in-store or online so CRM helps in tracking the varied channels and allows better customer interaction.
- Single customer tracking- CRM lets a business track every single activity of a customer over its website. A customer might have shared, liked, searched, posted, tweeted on a business website, it tracks all and keep it stored for deeper insights and assistance to the business owners/ marketing and sales teams. With these insights and data, it is becoming easier to provide personalized options or promotions.
- Segmentation between customers- There are low and high valued customers and the CRM assists in that segmentation and lets a business focus better on the type of customer in the way they want.
Not only this, with the help of a CRM an ecommerce business find Lifetime value of customers. Past insights can help in marketing activities and therefore better customer targeting and sales.
It will, therefore, be right to conclude that CRM is the need of the ecommerce industry and businesses who want to grow/survive the ecommerce battle need to engage the same without any delay. After all, the customer is the king and the king needs to be served right.