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Online retailers have historically struggled to improve relationships with customers. That’s why retention rates are less than 10% across the board for unestablished brands. To make your brand stick out, you’ve got to take things to the next level. Along the way, you’ll want to consider integrating solutions like an ecommerce CRM for your online store. How can a tool such as this help you get the upper hand? Here are some solid reasons.
Understanding the Customer Journey
The customer journey begins when a prospective shopper first visits your online store. Whether they came there from an organic search, an ad or a referral, it’s important to start building the relationship as soon as possible. With a CRM in place, you’ll be able to gather important data on that customer the minute they make their first purchase. You can then follow the lifecycle of that customer and use the integrated tools within the CRM to improve and build upon the relationship to secure long-term retention and loyalty.
Leveraging Big Data at a Small Data Cost
For years, large retailers have relied on big data to get ahead. This enterprising solution to marketing and facilitating relationships comes at a steep price that most retailers can’t afford (because more than half of online retailers are small businesses). No longer do you have to wonder what you could do with big data because a CRM gives you a unique stream of cultured, “small data” without the big data price tag. It’s a powerful and cost-effective way to manage your customer data and improve your operations from top to bottom.
Getting to Know Your Customers Better
Every customer is different. Some shop here and there while others are power shoppers. Each requires a unique relationship approach to secure loyalty. Without the right tools in place, you’d have no idea how to do this because every customer is just another order number in your sales log. But, with CRM in place, you can put a name and face to each customer, identify their shopping, buying, shipping and returns habits—and use this data to cull a better relationship that continues to improve over time.
Email Personalization Matters
New studies show that when you personalize emails, open rates skyrocket, emails get read and click-throughs go up. Of course, email personalization also helps improve conversion rates, average order value and retention.
Think about it. Let’s say you have an ecommerce CRM that integrates with your preferred email marketing service and it lets you know what customer’s birthdays are on the horizon and what products are trending the most. Using this algorithm, you can setup custom rules that let you send personalized emails to these valuable, long-term customers every day. Can you imagine how that will improve your sales tallies and help you get ahead?
Better Customer Service
Customer service is the very backbone of your online operation. Amazon knows this and makes sure that it’s streamlined, and so can you. The right CRM for ecommerce will help you track every customer issue by allowing your support team to add detailed notes to their individual profiles, assign tasks to other team members for resolution and track the follow-up of issue resolution with due dates. As you can imagine, this is a very powerful customer service tool that can’t be overlooked.
Breaking it All Down
It’s already tough enough to succeed in today’s ultra-competitive ecommerce world. With this in mind, it’s smart thinking to ensure that you have the right tools at your disposal to give your online store the greatest chance for success. As you can see from this article, a CRM isn’t just a consideration anymore; it’s a must-have customer satisfaction tool for serious online retailers.
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