“Your customer doesn’t care how much you know until they know how much you care.”
– Damon Richards
An industry which is garnering productivity and profitability at a fast pace, is the retail industry. Both, the online as well as offline shopping era is getting smarter, better and technically driven. Retailers ought to understand, grasp and perceive what the customers need. For a retail business to run successfully, some of the vital elements are handling complex processes, applying market information, gaining competitive advantage, forecasting future movements and understanding customer insights. And, the right way to achieve these objectives successfully is through implementation of a comprehensive retail CRM software.
CRM for retail industry is the perfect channel to enjoy the best of retail business in terms of maximizing RoI, getting enhanced customer experience and loyalty, increased profitability and productivity. A good customer relationship management solution can help improve your organization’s performance, working out best of costing models and lets you enhance your relationship with existing customers as well as attract potential ones.
Challenges Faced by the Retail Industry and Benefits Offered by CRM in Retailing
Certain challenges that the retail industry faces are:
- Collaboration between sales, service, marketing teams to deliver best of performance
- Proper tools and training for staff to get modernized
- Real and in-depth understanding of customers and their needs
- Offering a bespoke shopping experience
- Differentiating between loyal customers and the rest
Here are certain evident benefits that retail CRM solutions can bring to the industry and help overcome the above hurdles:
- Preserve informed customer information
- Gain detailed client communication knowledge
- Utilize different analytic tools to extract marketing information
- Gain access to all organization information from anywhere using multiple devices
- Engaging customers with a personalized experience
- Boosting foot traffic to the store – online or physical
- Identifying reliable clients and retaining their trust
- Compute efficiency of customer communication
Top 5 CRM Retail Software, Widely Used Around the Globe
There are many CRM solutions, around the world, which have carved a niche for themselves. Some attributes of CRM solutions remain constant all through the varieties available, but there are certain key features that are specific to a industry. Especially for the retail industry, there are certain key indicators that need to be present, for a successful run. Based on those domain specific needs, we have analysed and culled out the following CRM solutions, that are apt for the retail industry:
With Freshsales CRM, your team can now use AI-based lead scoring, built-in phone, email, activity capture and more. It is a retail CRM software that empowers your sales reps who are on the front lines of your business to help them sell better and allow your business to harness the power of customer data and sell more.
Why Use Freshsales CRM?
- Unifying customer data in a central hub for sales, service, and marketing
- Improving customer engagement by personalizing their shopping experience
- Identifying loyal customers and managing sales pipelines better
- Finding out the best sales leads
- Using built-in phone and email and getting smarter with email
- Informed lead management
- Territory insights for efficient campaigns
- Beginning from a 360-degree view
Salesforce CRM is the #1 CRM platform that’s bringing artificial intelligence to everyone. You can create deeper relationships with your customers using the world’s first CRM solution that’s available with Einstein AI — it uses your Salesforce data to constantly get smarter, making you more productive and your customers happier. Founded in 1999, Salesforce pioneered the revolutionary idea of replacing traditional desktop CRM software with CRM in the cloud, making it accessible anytime from anywhere. Today, this innovative cloud platform is the world’s #1 CRM solution.
Why Use Salesforce CRM?
- Helps create immersive and tailored experiences to the pleasure of shoppers
- Drives efficiency, increases conversion, and revolutionizes faster via powerful tools like customer intelligence, analytics, IoT tracking, and connected data into every business choice
- Unites commerce everywhere and progresses conversion rates with influential omni-channel competences
- Boosts sales by serving up bespoke offers across web, mobile, social, and stores
- Collects and integrates data from every touchpoint to provide a 360-degree view of the shopper that informs each marketing decision
- Builds one-to-one journeys at scale across any channel including email, mobile, social, digital advertising, online, and in-store
- Empowers connections with advanced solutions so they can get smarter and more predictive with their shoppers
- Accelerates productivity with real-time product and customer insights, task management, social collaboration, and training tools to cultivate retail talent
Epos Now is a cloud-based retail management solution fit for small to midsize retail shops. It’s a POS solution that offers barcoding, facilitating users to customize product information, and allows automatic printing of barcodes as soon as new stock is added. It has a “pay-on-account” functionality that stores the contact details of customers and allows users to assign credit limits. With Epos Now, customers can book online appointments, and the tool maintains a centralized customer database, so retailers can send invoices, grant credit, and collect valuable marketing information.
Why Use Epos Now?
- Easy integration with payment partners like Mercury, PayPal etc.
- Has a strong technical support and affordable pricing structure
- Efficiently helps in managing and maintaining inventory
- Gaining depth into sales, inventory and employee performance with dynamic reports
- Offers native mobile apps for iOS and Android which helps users use all functionalities at a single go
Custom CRM for retail business from Elinext Group bases its activity on the individual approach to every retailer. The development of a CRM system according to the features of your company, its product or service offerings, increases efficiency and enlarges the stream of potential customers. Therefore, in contrast to a ready-made solution, when the CRM system is aligned with your exact business goals, it serves to reinforce your marketing and sales efforts.
Why Use eliNext?
- Contact management system to track customers and plan interactions
- Appointment scheduler and quote management system
- Generating sales forecasting with configurable dashboards
- Managing customized pricing, optimizing lead cycle time and fastening revenue generation
- Easy integration with other systems
Genial CRM is the tool which is available on cloud as well as on premises under Package solutions. This tool will help us to manage Pre-Sales, Post Sales, Task Management, Forecast and Expense reimbursement in Organization. It is available on the cloud and under packaged solutions.
Why Use Genial CRM?
- Effective management of pre and post sales, task management, forecast and expense reimbursement in enterprises
- Handles admin & security with ease and offers forecasting trends to help decision making
- Excellent dashboard and alert notifications available to provide close and effective communication
- Lead and opportunity management with various analytical reports which can be exported in pdf / csv
- Complaint log maintenance and assignment
- Claim expenses and document management
There are many CRM solutions that claim to be useful to the retail industry. But the above ones have proven their significance by serving a wide range of clientele. Depending upon the size of organization, functional needs, budgeting plans and timelines, organizations can choose the best CRM for this industry as well as the service provider.