The Bold CRM Shift to an Ecommerce World
Ecommerce CRM software isn’t new. It’s been around for years, in fact. Recently, though, CRM (customer relationship management) systems have become more refined, targeted and evolved. Modern CRMs are much more powerful than you may have imagined. As such, they make a formidable marketing tool for any company that wants to boost customer loyalty and drive ROI.
Here’s what you need to know about CRMs, how they’ve evolved, and why the future is CRM-dense.
Let’s dive in.
The History of Ecommerce CRM Systems
CRM for ecommerce began as a green screen version of elaborate marketing Rolodexes. In recent years, though, the technology behind ecommerce CRM software has become more advanced, more refined, and more cloud-focused.
CRMs have evolved to the point where, today, the CRM industry is worth more than $36 billion. As if that weren’t enough, it’s also growing at about 27% year-over-year.
As it stands, heavy-hitters like Salesforce are leading the pack, followed by Microsoft and Oracle.
While there are many ecommerce CRM system options out there, various platforms have struggled with adoption in the past. This is a standard issue. In fact, adoption is frequently the most challenging aspect of integrating new software into any business.
In 2017, CRM Magazine reported that adoption rates were sitting around 24%, on the low end, with some businesses yielding rates as high as 90%. The average rate for CRM adoption is approximately 47%, although it increases as a system gets more modern. The most-adopted systems offer modernized interface features like adequate telephone support, live chat and email services.
The good news is that CRM adoption rates have increased in recent years. This has, by and large, been a consequence of improved education and training and more saturation of ecommerce CRM systems throughout the market.
How CRMs Help Companies Thrive
Today, CRMs serve many purposes for ecommerce companies. Here’s a brief overview of the benefits they provide:
- Improved productivity: According to a recent Forrester study, 50% of teams using ecommerce CRMs reported that the software helped them increase productivity.
- Increased sales: The same Forrester study reported that sales and productivity uplift was around 5% for companies that adopted an ecommerce CRM.
- Decreased consultation time: Consultation time reduced by 10% on average.
- Increased revenue: Companies that adopted an ecommerce CRM saw an average revenue increase of 2%. What’s more, CRM ROI equates to $5 for every $1 spent.
- Reduced customer service labor cost: Average customer service labor cost decreased by 40%.
- Savings for marketing budgets: The average marketing budget saved at least $75,000.
- Decreased labor costs: Average overall labor costs decreased by 20%.
- Increased average order value: CRM nurtured leads spent an average of 47% more.
- Decreased cost-per-lead. The average cost per lead decreased by 23% with the help of CRM.
4 Key Features of an Ecommerce CRM
What are the most desired features of an ecommerce CRM? Here are a few things users love:
1. Intuitive User Interface
Today, 65% of users report that having a CRM that’s easy to use is important to them. Luckily, the leading CRMs of today offer this, and most companies can enjoy the features without a huge learning curve.
One of the most helpful features of an ecommerce CRM is scheduling. As it stands now, 27% of users rely on a CRM’s scheduling features to keep their operations organized.
3. Data Snapshots
18% of users rely on their ecommerce CRMs to help them consolidate and organize data. By providing overviews and snapshots of data, ecommerce CRMs can help companies make more intelligent and data-driven decisions.
4. Email Features
While ecommerce CRMs offer many features, 60% of small businesses use CRMs primarily for email marketing.
The Future of the Ecommerce CRM
As demand continues to grow, so, too, will the domain of the ecommerce CRM. Although CRM platforms have been blending with the ecommerce environment for several years, 2018 is slated to be the year during which businesses make some large implementation and adoption leaps and reap the benefits of said leaps.
Here are a few things experts are expecting to see in the industry:
- Increased Attention to Mobile: Mobile is no longer a “nice to have.” It’s essential; a “must-have.” Many ecommerce experts believe the near future of ecommerce CRM will reflect this. When mobile becomes the starting point for marketing, the entire CRM environment will shift.
- More rapid pivot-ability: Ecommerce opportunities are many but fleeting. Even if a customer is interested in purchasing a product, the chance to nab them and make them convert is fleeting. As such, it’s essential for modern ecommerce CRMs to find a way to keep up with fleeting moments of availability. By reacting in real-time, these CRMs can help close sales and boost bottom lines.
- Simplified infrastructure: In the past, companies that wanted to access email features, customer service features, and more were saddled with complex legacy IT infrastructure that was impossible to use and even harder to understand. What’s more, it wasn’t designed to function in real-time. Modern ecommerce CRMs are here to change that. By offering easier interfaces and streamlined functionality, modern ecommerce CRMs make technology more accessible for the whole team.
- Adaptability: The modern ecommerce customer hops channels like Spiderman hops buildings, and the modern ecommerce CRM needs to keep up. Luckily, they do it in spades. By collecting context from multiple channels, modern ecommerce CRMs allow companies to make real-time decisions from a more extensive vantage point.
- Behavior analytics: Behavior analytics is essential for success in the modern ecommerce industry. When companies understand why customers make the decisions they do, they can position themselves more effectively to take advantage of it.
There’s no doubt about it: CRM for ecommerce is the way of the future. By streamlining sales, decreasing expenses, and making life easier for companies across the board, ecommerce CRM software is here to overhaul digital sales for good.
Need even more 2018 ecommerce CRM software statistics? Take a look at this infographic we’ve created to help you stay ahead of the curve.