Every day, retailers confront fierce competition. If your business is an offline store or a mall, your direct competition may be right next door, resulting in a bidding war every time a shopper goes by. Not all things sell themselves, and your customers will not walk into your store and leave with your product and the satisfaction of having had a great shopping experience.
So how do you win? Implement CRM software.
CRM software may appear to be nothing more than a contact management system, but it isn’t. A good CRM may provide significantly more value to your retail firm. You can raise the average purchase value by 40% or more by installing a CRM. However, be aware that it will be dependent on the CRM you use. There are a lot of CRM choices out there, but not all of them will match your retail business’s needs and handle the four major difficulties it faces today:
- Unifying customer data in a centralized location
- Know your customer in and out
- Provide personalized shopping experience and engage seamlessly
- Identifying potential and loyal customers
Unifying customer data in a centralized location
Although some conventional characteristics of offline stores may be out of style, the individuals who work in them can adapt if given the necessary tools and training.”
We can’t disagree on anything. To address this issue, your CRM software must be able to connect your sales, marketing, and service data so that all departments can work together to provide excellent service.
The two platforms interact effortlessly, allowing sales and support teams to collaborate and provide a holistic customer experience. Support teams can also handle client information and purchase details, while sales teams can manage inquiries and tickets, allowing all sides of the organization to work more closely together. CRMs come with a sophisticated email marketing tool, as well as Sales Campaigns for mass emailing and drip campaigns. MailChimp is also directly integrated with the CRM. You may sync marketing lists and contacts between the two systems to keep your data current.
If you have a retail CRM, you can solve the complexity of bringing three different software together in one place to build a successful CRM database.
Know your customer in and out
Customers who are satisfied are more likely to spend more money. People fail to understand customer behavior —who they are and what they want. The main disadvantage is that you won’t know who your most valued customers are if you don’t know who your customers are. And if you think that’s not necessary for the retail industry, you’re mistaken; customers will go. Did you know that 65 percent of customers have ended their relationship with a company because of a single bad customer service experience?
Through the data you collect, retail CRM solutions let you develop connections with customers. At checkout, most stores ask for the customer’s email address. You may have their profile auto-enriched with social media profiles like Facebook and Twitter, communicate with them instantaneously, and expand your understanding of each customer once you add their email address to CRM.
Customizations in form fields are available in Retail CRM to assist you in maintaining full, relevant client profiles. Include details such as their birthday, anniversary, favorite color, outfit, or product. Personal anecdotes with them during their visit to your stores can also be included in their profile as notes. So the next time you see them, you may quickly recall their previous visit and purchase by searching for them on the mobile app.
Provide personalized shopping experience and engage seamlessly
Having a retail shop has certain advantages. Customers can see and feel your product, get personal advice, and enjoy the instant thrill of bringing their purchase home, unlike internet purchasing. However, we live in an increasingly huge online community, and customers prefer to surf your website before visiting your store to make a purchase. Two-thirds of in-store customers will check pricing on their phones before making a purchase, according to 72 percent of young shoppers who research online before buying in-store. Retailers must understand what their customers do on the internet.
These issues are addressed by a Retail CRM, which delivers critical and deeper insights into customer behavior. You may follow their activity and page visits with Event Tracking or by integrating with Segment to better understand their interests in your company. Then, utilizing Sales Campaigns in a Retail CRM, you can put this knowledge to work by segmenting clients into kinds and creating personalized retail marketing campaigns. Customers can be intelligently targeted by sales and marketing teams based on their individual products of interest, and they will return for more.
Identifying potential and loyal customers
Consumers who are loyal spend 67 percent more than new customers. To build brand loyalty and boost brand exposure, almost every retailer offers a loyalty or rewards program. Retailers, on the other hand, struggle to distinguish devoted clients from others because they lack a history or the essential resources.
Retail CRM makes it simple to discover and reward your most valued customers, allowing you to enhance the way you sell to them. The CRM allows you to concentrate your sales efforts on consumers who are more likely to buy, allowing you to give them special offers and improve their overall experience with your company.
Use Retail CRM’s predictive contact scoring to identify loyal consumers, those who buy from you on a regular basis, respond to promotional emails, visit your website, and so on. The lead property, email, application activity, and web activity can all be used to customize lead scores. This means that if Jane, a regular customer who lives close to your retail store, receives your holiday sale email, clicks on the link, and visits your website, she now has a high lead score due to her interest in your deal. Consider Jack, who made a single transaction from your store but never viewed your email, resulting in a low lead score. To find out who your most valuable customers are, just sort your customers by lead score and send them discounts and offers to encourage repeat purchases.
Retail CRM can help you overcome the obstacles of running a retail business, from knowing who your customers are to tailoring their experience and getting them to return for more. Most significantly, Retail CRM provides you with features and capabilities that assist you in keeping your customers happy, improving your relationships, and growing your brand.