Ecommerce industry is considered as one of the fastest growing companies in the world. As per one of the recent reports, the ecommerce retail profit is expected to touch the 6.54 trillion US dollars mark by the year 2022. Online marketplaces have revolutionized the way the world shops. Therefore, almost all have started embracing the power of ecommerce. And, it is now looked at as an opportunity to stay on top of their game. Companies are entering the online space to boost their sales and increase their revenue. Even the traditional businesses who have been dealing offline are now trying to set up online stores as they know that the world is drifting towards online shopping. However, amongst this vast competition, if an online business has to really sustain and reach newer heights of success, it has to offer tremendous customer experience, and for that the businesses will need a high-end CRM platform.
Why Do The Growing E-commerce Firms Need a CRM Solution?
Maturing eCommerce businesses require a topnotch CRM solution to maintain and strengthen their customer relations. As, at the end of the day, every business, be it an eCommerce firm or an offline firm, they both need to have superb customer relations. As, the businesses are serving to the customers. Their revenue comes from the customers and clients, thus, they have to maintain fabulous customer relations. Now, when it comes to specifically the rookie or the maturing e commerce firms, for them, maintaining customer relations should be a top priority. As, the new eCommerce firms have to try everything that they can to build a relationship with the customers. Also, there is a trust factor that can be built only by constant connection between the business and the customers.
E-commerce Businesses and Microsoft Dynamics 365 CRM
Microsoft Dynamics 365 has led to digital transformation. D365 empowers businesses to perform better. It even allows the sales and marketing teams to enhance the quality of the strategies. With the help of the data analytics, the ecommerce firms are able to offer a fabulous shopping experience to the customers.
Here’s how D365 CRM Empowers the Growing E-commerce Businesses:
- Boosts the Marketing and Sales Efforts
With the help of D365 CRM, the eCommerce business leaders are able to place all their data in a single location. Therefore, the sales and marketing campaigns are able to make the most of the customer data as it is present in a centralized location. Thus, the marketing and sales strategizing and targeting becomes smooth. Also, the marketers and sales reps are able to execute the plans better with the help of the CRM solution. But, most importantly, with the help of the marketing and sales campaigns, the professionals are able to create extremely personalized marketing campaigns. Whether the professionals want to create personalized email marketing campaigns or social media marketing campaigns, the campaigns can be created and executed through D365. And, CRM allows marketers to attain all the information that the marketers and sales professionals need regarding the customers. Personalized marketing seems to have a powerful impact on the audience, and it is only possible because of D365 CRM.
- Managing the Customer Life-Cycle
D365 CRM allows the CRM teams to track and manage the data related to the customer. Customers interact constantly with the business through the CRM platforms. Therefore, a lot of data is being generated by the CRM. Also, the CRM teams are able to identify and measure the customer life-cycle through the data collected by the CRM tool. At the end of the day, if the CRM leaders are able to measure the life-cycle of the customers, then the business leaders can make intelligent decisions. When the CRM leaders are able to understand the life-cycle of the customers, then, they are able to make better plans to improve the customer experience. Additionally, each and every interaction with the customer and information related to the life cycle of the customer is present at one location.
- Better Inventory Management
Microsoft Dynamics CRM offers a lot more benefits that just the tools to strengthen the customer relationship. Dynamics CRM offers the customers with all the required information regarding the famous products that are kept in the ecommerce store. Also, with the help of all the data related to the sale of the products or the interest of the customers in the products, the leaders are able to analyze the sourcing, manufacturing or selling requirements of the business. As a result, the ecommerce firms are able to manage their inventories in the best way possible.
Microsoft Dynamics 365 Development is a boon for the maturing eCommerce firms who are establishing their foot in the industry. As, for them, it is utmost important to build trust and increase the visibility of the new eCommerce. Thus, many eCommerce firms have started using Dynamics CRM.