Customer Resource management or CRM is an umbrella term which takes into account various strategies which different companies employ in order to analyze their interaction with their customers. After getting data, these companies then take steps to improve their customer interaction. In other words, CRM helps a company in making more profit. As you might guess from its usefulness, more and more companies are using CRM.
According to a research, 91% of the companies who have more than 11 employees are using CRM in 2016. If you belong to the 91%, it is plausible that you’re already reaping the benefits of using this system. However, if you are still skeptical of whether these CRM systems will work for you, we have compiled a list of benefits which your Ecommerce business could attain by using CRM.
Here are 6 ways how your e-commerce business could benefit from CRM …
It gives you Customer trends
In the good old days, companies resorted to stores/marketplaces to know about customer trends. That which product is selling more was analyzed by its sales. While this method was effective, it was tedious and tiresome. Even if you have built a software to gather data, it might not be enough to cater all of the sales channels.
In stark contrast to the above-mentioned technique, CRM software allows you to inject your software directly into all the sales channels which are being used by your business. In addition to giving you the customer trends, it will allow you to gauge the buying habits of your customers, the cost Vs Profit margins, return patterns and much more.
It gives you a deep data
With the traditional methods, all you were able to gauge was how the sales have proceeded in the whole of last year. However, what about the comments of your customers regarding your products on Social Media? How often do they return your products? Are they demanding the same product time and again? Which product has been returned more often?
In simple words, if you want to get robust analytics with deep information which would give you all you need to know about your customers, CRM is a must-have for you.
It allows better management of tasks
If you work with a team of professionals, you’ll already know the importance of task management. As long as different members of your team don’t know which tasks are assigned to them, your business cannot grow. However, having said that, there is an important distinction between Project Management software and CRM. They rarely merge with each other to provide something useful for other software. That’s where e-commerce software comes into play.
Consider a situation in which you are chatting with your team, and suddenly a task erupts which couldn’t be done by any of the team members. At this time, you’ll have to tag a new person for this task. As you might guess, the e-commerce CRM software allows you to do just that.
Therefore, in addition to improving the task management of your team, the CRM software also make them more prone to accountability. When everybody knows which task has been assigned to which team member, everybody will be answerable of only their own work. Consequently, there won’t be any blame culture.
Better data collection
I’m not the first one to tell you and neither I’ll be the last but CRM software are the best when it comes to data collection. If you have a myriad of sales channels in operation – and you want all of them to be equally profitable, CRM allows you to do just that. By giving you the information in record time, this solution will increase your control over your business. Consequently, you’ll know in which areas your products are behind your competitor’s to take necessary actions.
CRM tells you about Customer returns
As evinced by this study, the only secret with which you could earn the loyalty of your customers is an easy return policy. Moreover, if you feel disheartened about the returning of your products, don’t bother because 30% of all products, ordered online, are returned.
In the past, there was an unspoken rule among the business owners: make returns so difficult as no customer would dare do it. However, with so many companies in the competition, a company employing this strategy would be digging its own grave. Therefore, if you care about customers’ returns, employing a CRM is the only way forward for you.
It connects your team
Although there are many CRM software out there, you need a one which has a built-in tool for tagging. This solution won’t only allow your team to analyze the data in real-time location, but it will also improve their productivity.