The market for CRM software is at an all-time high. One way a Customer Relationship Management system can help you is to find out your customer intent and what their interest levels are for your company.
So, let’s get to the crux of the matter. What is a CRM, and how can it help your business?
A CRM is a technology that helps you manage your customer relations. It does everything right, from capturing your lead to following up and looking for upselling opportunities with your clients. The diagram below that depicts some of the functionalities of marketing CRM software.
I know what you are thinking now. That’s cool, but why is it a relevant solution to my business?
I did some research and found out that there are 20 common problems e-commerce businesses face –
Now, CRMs can help you provide solutions for multiple problems listed here, like helping you with logistic problems, going omnichannel, customer experience, attracting the perfect customer, ID verification, etc.
The Role of CRM in Increasing eCommerce Sales
Here are some ways a CRM can help you with your e-commerce business-
Improving your marketing game
Choosing a CRM with good marketing automation can help you improve your e-commerce business. Using next-gen automation, you can understand your prospects and build lasting relationships. Automation can also help build important engagement flows for important web pages and be used to reduce the repetitive and erroneous tasks carried out by your sales teams.
In e-commerce, engaging your audience is key to building and maintaining your business. CRMs help by triggering engagement, sending the right content to the right audience, and understanding their intent.
With the help of the data of the leads provided, you can focus on campaigns and strategies that are being better received. You can also understand which categories of audience prefer what type of campaigns, personalize them according to your target, and create better quality marketing.
Ensure better quality leads with zero lead leakage and retention
The most important thing for an online business is its leads. The internet is a huge place, and although you get a lot of leads from there, getting the leads that suit your company and leads that want to buy your product can be tricky. It is almost like the game of Russian Roulette, where you try and sell your products to a random stranger. Now you have created your product for a particular age, gender, and particular designation group, but you do not know who your seller is.
So, it isn’t easy to sort through which leads are more likely to buy your product. But fear not, for CRMs have got you covered! By helping you track your lead’s sources, scoring them, and letting you know which leads are more interested or if they are surfing your sites.
Also, CRMs automatically remind you when a lead has moved into the next stage or if you must follow up with them, thus ensuring your leads don’t leak to your sales funnel. Also, since the process is automated, no human error is involved.
Help you improve productivity and give you a good ROI
Here is what Mr. Tripathi, a Senior Business Development Manager at Meesho, had to say about his CRM – “Where an individual salesperson took around 8-10 mins to fill in the required details of a prospective supplier, with LeadSquared, it just takes a minute. We are pleased that the team’s productivity has increased to 70% from 5-10% earlier.”
You can see how much increase in productivity you can gain just by choosing a good CRM!
According to Pardot, almost 79 percent of e-commerce platforms cannot convert their leads into prospects. With CRMs able to improve conversion quality and help the sales team reduce investment in tracking new leads, it is estimated that this management software can yield up to 45% ROI of circa 45% on every dollar invested.
They can also boost sales by 29% minimum and increase productivity by 34%. CRMs can also provide your sales team with better-quality data for forecasting and improving your business.
In 2022, it was estimated that a CRM investment would give you an average ROI of $8.71 for every dollar spent on the software. That’s an 800% return increase!
Multichannel communication on a single platform
Don’t you hate using multiple channels to interact with your customers? Of course, every business team dreams of finding its target audience on just one channel, but we know that is far from reality.
CRMs can help you connect all your different customers from different channels onto a single channel, thus ensuring it is easier to centralize information and power your sales teams to have meaningful, contextual conversations. Therefore, information from phone calls, emails, WhatsApp messages, Facebook messages, Instagram messages, etc., can be pooled in one spot.
Although there are a lot of CRMs, and they provide many benefits to businesses, you must choose the best fit for you. All the e-commerce CRMs out there might not benefit what you want. For example, there might be CRMs specializing in integrations when you want lead capturing or vice versa. Also, some CRMs might be the perfect fit for your problems, but trying to learn to use them might feel like you are stuck back in 12th-grade organic chemistry.
As mentioned above, an e-commerce business needs a CRM to help you solve as many as the 20 commonly faced problems. So, here is a list of the top CRMs, saving you the work of doing your homework and helping you choose the right CRM today!