Hello with the first post of 2023, I extend my heartfelt wishes to all of you on behalf of the FowCRM family. I want to express our gratitude to all of you reading these lines and to all our stakeholders for making 2022 a very productive year for us. Our articles that started landing in your mailboxes last year will continue to reach you every 15 days this year as well. We will delve into topics centered around the customer, especially CRM, and strive to explain them to you in depth. The first article of the year will focus on e-commerce, one of the most important topics of the post-pandemic era. In this bulletin, we will explore why CRM is “essential” for e-commerce systems. I wish you all happy reading.
Current data shows that the COVID-19 pandemic has changed consumer shopping habits worldwide and this change is permanent. According to Statista, the value of online sales in retail is expected to constitute one-fourth of total retail sales by 2025.
Consumers will increasingly make online purchases. According to a study by Predence Research, the current $4 trillion e-commerce market size is expected to reach $7.45 trillion by 2030.
To compete and make sales in the fast-paced e-commerce environment, you need to continually improve your digital skills. Additionally, you should enhance relationships with critical customers for your business. Keep in mind:
- A 5% increase in customer retention results in more than a 25% increase in profit.
- Acquiring a new customer is 6 to 7 times more costly than retaining an existing one.
Therefore, you need the right e-commerce CRM strategy for your online store to make sales.
CRM software is crucial for effectively maintaining and enhancing customer relationships, ensuring brand loyalty, acquiring new customers, and capturing many other growth opportunities. Integrated CRM solutions for e-commerce software come into play precisely in this context.
Integrated CRM solutions allow for the storage, accessibility, and utilization of customer data to enhance the value of consumer interactions. Customer data includes purchasing behavior and contact information.
It’s worth noting that, on average, the Return on Investment (ROI) for e-commerce integrated CRM solutions is $8 for every $1 spent today in the world.
Let’s take a look together at the key features of e-commerce integrated CRM solutions:
- Landing Page
- Email Marketing
- Lead Scoring
- Segmentation
- AI-Powered Chatbot
- Sales Automation and Sales Pipeline
- Calendar Management
- Audience Targeting
- Payment Management
- Robust Integration
- Quote and Invoice Management
- Document Template and Management
- Marketing Automation
- Task Management
- Event Management
- Customer Contract Management
- Custom Fields
- Region Management
- Case Management (After-Sales Services)
- Multi-Channel Management
- Mobile Access
- Reports and Analytics
A well-designed e-commerce CRM strategy helps you acquire new customers, segment your existing ones, and retain them. Additionally, it enables you to create personalized marketing and sales techniques based on consumer profiles, analyze comprehensive data, and understand consumer behaviors.
If you would like to review the research and numerical data mentioned in the article, the sources used are:
- If you would like to review the research and numerical data mentioned in the article, the sources used are:
- https://www.statista.com/statistics/534123/e-commerce-share-of-retail-sales-worldwide/
- https://nucleusresearch.com/research/single/crm-pays-back-8-71-for-every-dollar-spent/https://www.precedenceresearch.com/b2c-e-commerce-market
In our next article, we will discuss what a proper CRM strategy in e-commerce can bring us. Until then.
FowCRM is an integrated sales automation for e-commerce systems. It encompasses many features such as customer analysis, end-to-end sales management, and segmentation. Getting to know your customers, segmenting them, and reaching the right audiences are easier with FowCRM.
