Is your business constantly on the lookout for new ways to engage customers? Are you ready to implement new technologies that are customer-centric and increase your operational efficiency?
If yes, it is time to take the plunge and adopt eCRM technology for your business.
eCRM systems go a step beyond traditional customer relationship management software. It is an integrated sales, marketing, and service strategy that manages customer-related activities through the Internet.
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With eCRM, you can enhance and forge long-term relationships with your customers through information technology. It empowers organizations to gain an instant competitive advantage and become more responsive to customer needs.
So, let’s dive in and find out more about eCRM and how it can benefit modern business organizations.
1. What will you learn from this blog?
- Understand the meaning of call tracking system.
- Know the various components of an eCRM system.
- Learn five ways that eCRM can boost business bottom-line results and retain customers in the long run.
Customers are your company’s greatest asset! You need to walk the extra mile to connect with customers and provide them an exceptional service experience.
This is the prime reason that organizations across the globe are adopting customer relationship management systems. CRM software is a potent strategic tool for most growing businesses. In the year 2020, the overall CRM usage increased from 56% to 74%.
As organizations continue to invest in CRM technology, they are also exploring innovations such as eCRM. General interest in eCRM is rising rapidly, and businesses are getting to know the benefits of this revolutionary technology.
Let’s get started by defining eCRM and understanding its significant components.
2. What is eCRM?
eCRM stands for electronic customer relationship management. According to Gartner, eCRM involves the integration of web channels into the overall CRM enterprise strategy. The main goal is to drive consistency within all electronic or digital media and unify sales, marketing, and customer service activities.
As the Internet has become an indispensable part of our lives, eCRM software has gained importance and is the way forward! It aims to provide customers with a seamless experience by coordinating customer interactions and encourages them to return to the website to build loyalty.
Web-based eCRM applications are a steady and natural progression of traditional CRM software. eCRM is a blend of various components that include an e-commerce selling platform, customer communication infrastructure, and business applications. The major eCRM components include:
1. Marketing Automation Tools: One of the most critical components of eCRM, marketing automation, enables businesses to manage marketing campaigns across multiple channels simultaneously. This makes it possible to target niche customers with customized messages through email, phone conversations, and live chat.
2. Campaign Management: Plan, execute, and track all marketing initiatives to ensure that your business gains a quick return on investment. With eCRM, you can automate campaign-related activities to save time and increase operational efficiency.
3. Product and Pricing Models: With eCRM software, businesses can position their products and services the right way. You can communicate and customize pricing models to ensure it suits target customers and address their queries.
4. Customer service and Support: One of the foundational pillars of eCRM is service and support mechanisms that give businesses agility and helps them address customer concerns instantly. With eCRM tools, companies can remain available to customers round the clock and increase engagement exponentially.
5. Content Management: eCRM can help businesses manage enterprise content better by implementing tools such as search engine optimization. Impactful content marketing strategies can drive organic traffic to your website and increase multi-channel customer engagement.
3. How Can eCRM Benefit Your Organization?
Businesses that implement eCRM technology can leverage technology to gain an edge and outperform rivals. The innovative features of eCRM software can help you unify customer touchpoints information and improve team collaboration. Here are five ways CRM tools can benefit your business and increase profitability:
1. Maintain Holistic Customer Records
With eCRM, companies can gain a 360-degree view of customer information with the click of a button! According to a recent survey, 74% of businesses feel that electronic CRM systems have helped them gain better customer data access. They enable you to view the entire track record that includes previous purchases, demographic details, and past interactions.
eCRM software can monitor all digital activities of your customers that include website navigation, shopping cart history, and product preferences. This integrated knowledge base can be shared with sales, marketing, and support teams to ensure they deliver a consistent and pleasant experience to customers and increase bottom-line results.
2. Seamless Back-End Integration
eCRM systems are not only about managing customer-related activities on digital platforms. They seamlessly integrate with other back-end systems such as accounting, logistics, inventory, and service helpdesks. This enables organizations to track customer touchpoints across various business functions through websites or call centers.
Since eCRM software has advanced integration capabilities, it facilitates the smooth transfer of data between applications and automates repetitive tasks. This helps your sales and marketing employees to save time to focus on other strategic organizational goals and reduce mundane administrative work.
3. Enhanced Service Management
If there is one aspect that you can be assured about after implementing eCRM technology, it is the fact that your company will deliver a far superior service experience. Businesses can leverage data stored in eCRM tools to assess customer service requirements and provide support from various channels such as email, phone calls, chat forums, and social media platforms.
With eCRM, organizations can ensure service agent productivity by providing them with real-time data and business intelligence. This enables your support representatives to provide accurate solutions to customer complaints and grievances, along with increasing resolution rates.
4. Advanced Reports and Analytics
One of the best features of eCRM is the reporting capabilities. It enables you to gain a bird’s eye view of all vital metrics and monitor your business health. Managers can view real-time data to monitor online customer interactions, track purchases, and service requests.
Interactive dashboards make it easy to analyze key performance indicators so that you can take proactive action to increase business performance. Modern eCRM tools enable you to customize reports to display data visually. You can use pie charts, bar graphs, lists, and pivot tables to highlight important data. Reports can be prepared periodically and shared by email to provide business insights to team members.
5. Customer Loyalty and Retention
At its core, customer relationship management is all about keeping your customers happy. With eCRM, you can develop a network with key organizational stakeholders such as suppliers, partners, vendors, and clients to deliver optimum customer value. Businesses can use real-time data to predict customer behavior better and increase their service offerings.
Personalization is the foundation of an excellent customer experience. A Consolidated eCRM database can help you personalize marketing campaigns and customer communication to enhance satisfaction and engagement levels. eCRM software facilitates maximizing the lifetime value of each customer and increases retention in the long run.
4. The Final Word
In today’s digital world, customers interact with businesses through various web-based channels. Remain on the top of your game by investing in eCRM tools to enhance marketing efforts’ efficiency and deliver a personalized customer experience.
Numbers don’t lie! The average return on investment on eCRM is $8.71 for every dollar spent. So go ahead and get the best eCRM software for your organization. Increase bottom-line results and provide a stellar service experience to your loyal customers!