Since starting your e-commerce business, you’ve likely come across a dizzying myriad of acronyms – CAC, ROI, MoM, LTV, ARPU… the list goes on. Some are fairly straightforward, while others take some time to wrap your head around. One that’s particularly important to e-commerce businesses is CRM, or customer relationship management.
Put simply, the primary purpose of CRM software is to track interactions with your customers. It stores their information based on your chosen fields and organizes the data in a meaningful way that allows you to obtain valuable insights on how effectively you’re running your business. But that’s not all it can do.
Different CRM solutions have different features, but most platforms include the following:
- Campaign Management: This feature helps you optimize your advertising and email marketing campaigns. You can set goals, track your progress, and use analytics to measure your success.
- Lead Management: You need to ensure that your marketing efforts render high conversion rates. Lead management helps you keep track of marketing activities and see how leads are progressing.
- Social Media Management: CRM software allows you to link to social media networks to manage your pages from a central platform. This can help you save time and streamline your social marketing operations.
- Contact Management: This is where customer data is recorded. This can include their contact details and past interactions with your business. Most CRM platforms allow you to obtain patterns and trends for insights here.
- Reporting: Based on the data gathered in the above modules, CRM software will generate reports for you to get detailed information on how your business is performing.
- Automation: A more recent feature of CRM software is its automation capabilities. It can automatically perform predictable marketing tasks, thus saving you time and allowing you to reallocate resources to other processes.
So, these are the features you can expect from a good CRM platform. You can check out the best ecommerce CRM software available on the market here. If you’re still not convinced, here are some reasons why your e-commerce business needs CRM software.
Improved Customer Relations
Of course, by having a better understanding of your customers, you can provide a better service. You can also learn more about their needs and pain points, thus allowing you to devise a more effective marketing strategy.
You’ll know which products are selling the most, where to make improvements on your website, and which payment methods are the most popular, among other important factors.
Centralized Data Storage Solution
You probably know how important customer data is in e-commerce. Keeping track of it all can be challenging, though. CRM software simplifies the process by tracking data automatically and compiling it in one easily accessible place.
Valuable Tool for Growth
When you only have a few dozen customers to track, it’s easy to simply compile their data into a spreadsheet and call it a day. But think about what will happen in a few years’ time. CRM platforms are excellent when it comes to scalability and will provide value to your business at every stage of its growth.
The benefits of CRM software are clear and tangible. All that’s left to do is to find the right platform for your needs.