The world of retail is complex and competitive. You need to offer better prices with better customer experiences, all the while driving down operating costs to maintain profit margins.
In a traditional brick and mortar location, maintaining a good relationship with customers is much more straightforward. A combination of both, the physical employee presence and tangible products means that the brick and mortar experience is much more interactive than a digital e-commerce approach. With a digital experience, there is much less to differentiate you from competitors, and there is an added challenge of building customer understanding without undermining their right to online privacy.
To overcome this problem, enterprises are leveraging the power of customer relationship management (CRM) systems, which help to collate customer data and perform analytics to drive insight-based decision making across the business. This can be used to alter your overarching business strategy in the long-term or deliver a last-minute discount to a prospective customer to land a sale in the short-term.
Customer Relationship Management (CRM) is the process wherein a business manages relationships with customers using a dedicated system. This system will leverage software analytics to generate insight and provide a unified overview of all interactions made between your systems and end-users. The insights generated with a CRM system can be used to influence short- and long-term business decisions to improve the overall customer experience.
A CRM platform offers numerous features that help you to attract, retain and upsell customers, including:
Customer service – Perhaps the most crucial part of customer relationship management is delivering consistently excellent customer service. Your support staff are more than just customer assistants—they are brand ambassadors that can make or break your corporate image in the eyes of the existing and potential customers.
Excellent customer service is typically classed as fast, friendly and frictionless, also known as the three Fs. When problems arise, your customers are going to need immediate access to support, so they can solve their issues and resume using your product or service. Human touch is incredibly important during the support phase, giving warmth to interactions and improving the emotive customer experience. Lastly, removing any hurdles between your business and customers will reduce the effort required to achieve a positive outcome, creating the image of a seamless experience.
Commerce – At all stages of the purchase journey, a solid commerce foundation is vital for delivering integrated experiences to the end-users. This applies to both desktop and mobile platforms, where consistency and fluidity are always expected.
If a customer orders a product or service, they will expect order tracking functionality on your website. For digital items, immediate access to your products or services will be expected, requiring integration with licensing databases and automated email delivery tools to finalize orders. During the transaction stage, being redirected to an external website for payment processing looks and feels clunky and may even confuse some buyers enough to make them look elsewhere. An integrated payment gateway on your website will improve service consistency and allow for more in-depth insight into your customer shopping trends. A CRM platform can handle all of these and more, offering a solid foundation for commerce-related workflows for your business.
Marketing – A one-size-fits-all approach to digital marketing is not going to achieve your desired results. Each customer has their own wants, needs and emotional triggers, meaning one email message that worked for one customer may not work for the next.
A tailored, customer-centric approach to operations is the best way to deliver memorable digital experiences that prompt repeat purchase from customers. At every stage of the purchasing journey, you need visibility into business transactions (BT). This is any form of interaction between a user and your company, ranging from the first click on your homepage, right through to the finalized order confirmation page. By analyzing the drop off rate throughout the journey using BTs, you can tailor your marketing campaigns with email reminders, personalized recommendations and other marketing materials intended to incentivize purchasing your products or services.
We understand the importance of excellent customer relationships. That’s why we have partnered with the industry-leading Salesforce CRM platform to deliver brilliant customer experiences and generate actionable insights to guide critical business decisions.
Going beyond just names and email addresses, Salesforce offers a unified integration platform for CRM workflows, giving you deep insight into the impact of each business transaction. By understanding where you are losing customers, you can tweak and redevelop your services to increase the chances of landing a sale. You can even create tailored marketing campaigns that offer a more personal touch to your B2C interactions, leveraging the power of sales psychology.
Get in touch with our data analytics consulting team and discover the value of end-to-end customer visibility with Trianz and Salesforce today.
Contact Us Today
For decades, Windows served as the workhorse of the business world. In recent years, however, a significant transformation has occurred with the rise of cloud infrastructure platforms. Enterprises now realize that legacy on-premises Windows workloads are impeding their progress. Core challenges include licensing costs, scalability issues, and reluctance to embrace digital transformation.Explore
Connecting more people to data has become imperative for organizations worldwide. In Top Trends in Data & Analytics for 2022, Gartner stated, “Connections between diverse and distributed data and people create truly impactful insight and innovation. These connections are critical to assisting humans and machines in making quicker, more accurate, trustworthy, and contextualized decisions while considering an increasing number of factors, stakeholders, and data sources.”Explore
Since the dawn of business, users have looked for three main components when it comes to data: Search | Secure| Share. Now let's talk about the evolution of data over the years. It's a story in itself if one pays attention. Back then, applications were created to handle a set of processes/tasks. These processes/tasks, when grouped logically, became a sub-function, a set of sub-functions constituted a function, and a set of functions made up an enterprise. Phase 1 – Data-AwareExplore
Practitioners in the data realm have gone through various acronyms over the years. It all started with "Decision Support Systems" followed by "Data Warehouse", "Data Marts", "Data Lakes", "Data Fabric", and "Data Mesh", amongst storage formats of RDBMS, MPP, Big Data, Blob, Parquet, Iceberg, etc., and data collection, consolidation, and consumption patterns that have evolved with technology.Explore
Enterprises have, over time, invested in a variety of tools, technologies, and methodologies to solve the critical problem of managing enterprise data assets, be it data catalogs, security policies associated with data access, or encryption/decryption of data (in motion and at rest) or identification of PII, PHI, PCI data. As technology has evolved, so have the tools and methodologies to implement the same. However, the issue continues to persist. There are a variety of reasons for the same:Explore
Finding Hidden Patterns and Correlations Innovative technologies such as artificial intelligence (AI), machine learning (ML) and natural language processing (NLP) are transforming the way we approach data analytics. AI, ML and NLP are categorized under the umbrella term of “cognitive analytics,” which is an approach that leverages human-like computer intelligence to identify hidden patterns and correlations in data.Explore