When you first start your own business, you might have to spin all the plates by yourself, but you need to shift your focus to scale it. That is when the tools come into play to make your work easier.
In e-commerce, durability and profitability are quite impossible unless you invest resources in the tools that can grow your business.
Tools and technology have become an important part of an e-commerce company.
There are many tools in the market, and choosing the right tool is like finding a needle in a haystack.
Why do you need tools?
Fact is tools that help promote business, drive awareness for the product, and help make the process go faster.
Investing in the right tool means you are trading time for the money. This allows business owners to scale operations.
But before this, you need to understand which problem is eating up your time to address those rights with the tools.
Types of tools to help your e-commerce business:
- Product Designer Tool
- CRM (Customer Relationship Management)
- Analytics
- Marketing
- ERP (Enterprise Resource Planning)
Product Designer Tool
A product designer tool enables you to offer customization services to your shopper. Not every customer wants the same thing or uses the thing in the same way.
The product designer tool allows your customer to give a personal touch to the product.
After all, a good experience strikes a customer’s mind, and product designer tools help satisfy your customer, which results in customer loyalty and customer satisfaction.
Don’t believe it? Here is Deloitte’s study, which says 1 out of 5 customers are more likely to pay a 20% premium for a personalized product.
Every customer is different and has different needs; product designer tools provide the power to customize, proving to be a game-changer for your business.
CRM (Customer Relationship Management)
CRM is an acronym for Customer Relationship Management that helps in managing the buyer-seller relationship. CRM is the tool that interacts with your customer and collects substantial data about them.
CRM is mainly important for e-commerce store owners as it collects the customer’s data, which will help the business owner frame a strategy for the business. The foremost aim of having a CRM is to improve the relationship with customers and understand the buyer to drive future sales.
According to Salesforce, companies that use CRM have improved their sales by 29%.
Many merchants hesitate to buy a CRM due to budget complexity, but a CRM can make your business much easier to execute and streamline your customer management.
Analytics
Data is essential for the business; if you can’t track your data, you can’t track your customer behavior and market.
That’s why the company needs to analyze the data to adapt to the changing demand and condition of both customers and global economies.
Having a proper analytics tool for your website can help you understand your customer’s journey.
With the analytics tool, you can understand what your customer is looking for, how they came to your website, and how you can attract more people like them.
Marketing
The company uses marketing tools to develop and promote their products and services. To enhance sales, most businesses use various marketing tools, such as advertising, e-mail, and market research.
There is a different range of marketing tools, especially for boosting sales, while others focus on consumer data.
This category is filled with thousands of platforms, and the daunting task is to find a suitable one. It is important to know which tool to use, and for that, you need to clarify the goals and objectives.
Look for the alternatives that allow you to save time on tasks related to social media, e-mail, content, or campaign tracking. Many businesses use multiple marketing tools at the same time.
According to Marketo, 76% of companies generate a return on their investment within a year of implementing marketing software.
ERP (Enterprise Resource Planning)
ERP is a short form of Enterprise Resource Planning. ERP includes inventory management, order management, accounting, human resources, and much more. ERP is the complete system with a combination of various features that streamline the entire organization’s process.
It can be said that ERP and e-commerce are made for each other. ERP tools also offer the benefits of reports and automation. ERP software is great for managing day to day activities for business owners.
It is impossible to ignore the impact of ERP software on the business. It helps streamline the workflow of various departments.
Many business owners are adopting ERP technology. Look at Gartner’s report, the global ERP software market grew by 9%, which results in a worldwide value of around $39 billion.
The biggest challenge is to manage the operations, and ERP is the biggest solution for them by streamlining different processes through automation.
End Words
Scaling an e-commerce business without a tool is quite impossible. For gaining and sustaining your business in this cut-throat competition, investment in the tools is necessary. Every business is different and has different requirements, so the tools must be chosen carefully by keeping in mind its needs. Choosing the right tool for your e-commerce store can make a difference between ultimate success and potential failure.
