Tag: CRM

Stay Ahead of the Competition with ETP V5 Omnichannel Retail Software: 9 Benefits You Need to Know

Posted on by Omprasad Devadiga

 

In today’s dynamic retail landscape, success demands agility, efficiency, and a deep understanding of your customers. And who has successfully achieved and gone beyond that? Yes, you guessed it right, it’s us, the ETP Group! ETP Group, Asia’s leading retail software, has become the foremost trusted partner of many retailers.

ETP stands out as a champion for retailers, providing powerful retail software solutions that empower retailers to excel on all fronts. With ETP by your side, you gain the tools to optimize inventory management, streamline sales, and gather invaluable customer insights — all designed to propel your business to new heights. Whether you’re a seasoned retailer or an exciting startup, ETP empowers you to navigate challenges, seize opportunities, and ultimately cultivate lasting customer loyalty.

In this blog, we will be talking about ETP V5 — an omni-channel retail software and delve deep into how it offers numerous benefits for businesses looking to enhance their customer experience and drive sales revenue.

What is V5 and Why Does it Stand Out in the Omnichannel Retailing Race?

ETP V5 – Omn-Channel Retail Software is an enterprise-class, scalable, and secure platform for large to mid-sized retailers. It comprises Omni-channel POS Software, Mobility (mobile POS), CRM Software, Marketing and Promotion Campaigns, Order Management & Supply Management, Omni-channel Analytics, and Omni-channel Connect. Its features include click and collect, click and deliver, endless aisles, a 360-degree view of the inventory, and a single view of the customer, enabling you to deliver a unified brand-customer relationship across all channels.

How does ETP V5 stand out in the omni-channel race, you ask?

In the ever-evolving world of omnichannel retail, ETP V5 stands out as the retail software that empowers you to win the race. This highly configurable solution adapts seamlessly to diverse retail verticals, ensuring a perfect fit for your business. Its scalability knows no bounds, effortlessly handling multiple countries, currencies, tax structures, and time zones.

ETP V5 goes beyond basic features, fostering a strong integration between your sales and supply chain networks. This translates to increased sales, reduced inventory costs and shrinkage, minimized stockouts, and efficient stock distribution. Imagine a retail software solution that streamlines your entire operation!

But ETP V5 doesn’t stop there. It prioritizes your customer experience with superior service, helping you drive traffic to stores, boost sales, and deliver a unified experience across all channels. Consistent and flexible customer policies ensure a smooth journey for your shoppers, no matter how they choose to interact with your brand.

ETP V5 omni-channel retail software takes omnichannel retailing a step further with an integrated CRM at the POS, fostering deeper customer relationships and driving higher sales across all channels. To truly elevate your game, a powerful promotion engine automatically distributes targeted campaigns across every touchpoint, maximizing their impact.

With ETP V5, you’re not just keeping up in the omnichannel retail software race; you’re setting the pace.

Omnichannel Retail as the Key to Customer Satisfaction & Loyalty

Today’s shoppers expect a seamless journey across online and offline channels. Omnichannel retail delivers just that, and the results are powerful. It is where a customer can use more than one sales channel, such as brick-and-mortar stores, e-Commerce/internet, mobile, etc., to research, buy, collect, return, and exchange products from a retail store.

This unified shopping experience empowers customers to browse online, buy in-store, or mix and match—all while keeping them happy and coming back for more. Irrespective of the channel of purchase, the customer has a consistent and integrated experience. ETP’s retail software solutions help you bridge the omnichannel gap, fostering customer satisfaction and loyalty that fuels your business growth.

9 Ways ETP V5—Omni-channel Retail Software Encourages Retailers to Thrive

Endless Aisle and How ETP V5 Delivers

ETP V5 unlocks the power of the Endless Aisle! Omni-channel retail customers can browse a vast selection of products online, even if they’re not physically stocked in-store, allowing retailers to have them shipped directly to the customers. This means happier shoppers, fewer missed sales, and a wider range of options to keep them coming back.

Click and Collect and How ETP V5 Delivers

The ETP V5 retail software solution empowers your click-and-collect strategy! Customers can browse online, purchase with ease, and choose convenient in-store pickup. Our software ensures smooth order management, real-time inventory visibility, and efficient fulfillment, making clicking and collecting a breeze for both you and your customers.

Unified Inventory View and How ETP V5 Delivers

ETP V5 omni-channel retail software breaks down inventory silos with a unified view! See all your stock—online and in-store—in one place. This empowers you to fulfill orders efficiently and offers click-and-collect options. But it goes beyond convenience. ETP V5 leverages this unified view to personalize the omni-channel retail customer experience. Imagine recommending the perfect pair of shoes based on a customer’s online browsing history, regardless of where they choose to purchase them. It’s targeted marketing magic, leading to happier customers and a boost in your average order value.

Easy Returns and How ETP V5 Delivers

ETP V5 streamlines the entire return process, ensuring a smooth and positive experience for your customers. No matter how a product was purchased (online or in-store), customers can choose to return it at any convenient location you offer or even have it collected for their convenience. This flexibility fosters customer satisfaction and encourages repeat business.

Behind the scenes, ETP V5 retail software efficiently manages the returned items, updating inventory and making the process seamless for your staff as well.

Click and Deliver: How ETP V5 Delivers

The click-and-deliver revolution is here, and ETP V5 puts you at the forefront. Customers can seamlessly purchase online and have their desired products delivered straight to their doorstep—all coordinated effortlessly through our software. The ETP V5 retail software solution ensures efficient order management, real-time stock tracking, and smooth delivery fulfillment, making click-and-deliver a win-win for you and your customers.

Single View of Customers and ETPV5 Delivers

ETP V5 retail software solutions shatter customer data silos. See purchase history, preferences, and more from every channel (ETP Store, mobile app, social media) in one place. This unified view fuels personalized marketing and builds stronger customer relationships.

Build Loyalty and ETP V5 Delivers 

ETP V5 omni-channel retail software unlocks loyalty magic! Manage your programs seamlessly across all channels—stores, mobile apps, and social media. This unified approach personalizes rewards, strengthens customer engagement, and keeps them coming back for more.

Channel-based Promotions and How ETP V5 Delivers

ETP V5 puts you in the promotion driver’s seat! Craft targeted campaigns for each channel—online, mobile app, and in-store. Track their performance, make adjustments on the fly, and maximize the impact of your offers. ETP V5 empowers you to deliver the right message to the right customer at the right time, boosting sales and engagement.

Customer Feedback and How ETP V5 Delivers

ETP V5 opens the door to valuable customer insights! Gather feedback across all channels, pinpointing areas for improvement and maximizing store productivity. This data-driven approach helps you refine your operations, enhance the omni-channel retail customer experience, and keep your business thriving.

How Bose Corporation Achieved Success with ETP V5 Retail Software

This is how ETP V5 retail software solutions helped Bose Corporation, one of the world’s most well-known audio giants.

Objective:

  • Improve customer service levels with enhanced POS solutions integrated with enterprise CRM
  • Complete control over all retail operations, including back-office management
  • Comprehensive promotion capability with centrally controlled deployment

Business Benefits:

  • Quick billing with product lookups and integration with varied loyalty programs
  • Complete stock and cash management with auto replication to the central server
  • Increased customer satisfaction with easy customer creation and search, hassle-free sales returns, and gift voucher management
  • Centrally controlled multi-dimensional promotions with timely analysis based on customer response
  • Automated and time-based marketing campaigns with a graphical dashboard for instant information access
  • Customer buying data to guide purchasing and marketing as well as to improve service efforts

Here’s what the Finance Manager of Bose Corp., India, had to say:

“It has continued to be an excellent journey with ETP. They not just took care of our retail pain points but also gave us a lot of value additions like reporting analytics and more, so we have accurate and timely data for analysis and take decisions basis that. We are a part of the retail industry and we aim to deliver the highest customer experience. ETP has been a partner with us in delivering that excellent experience to our customers.

Our store staff is really happy these days. Today, a customer who walks into the store and decides on a product can make the payment and take the product with the invoice in less than 5 minutes. That has been the fantastic experience thanks to ETP. We were impressed with the solution they provided for Bose India, it was a natural progression for us to extend it to our Middle-East operations and it has been successful there as well. They have helped us provide excellent customer service and are definitely the preferred partners in our growth story.”

The ETP V5 Advantage: Recap and Key Takeaways

Building on ETP’s legacy of empowering retailers, ETP V5 retail software emerges as the champion for omnichannel success. It doesn’t just manage your software; it orchestrates a seamless shopping experience across all channels.

Key Takeaways:

  • Unmatched Omnichannel Power: ETP V5 omni-channel retail software unlocks features like endless aisle, click and collect, and unified inventory, ensuring customer satisfaction and maximizing sales opportunities.
  • Customer Centricity at its Finest: Gain a single view of your customers, personalize marketing efforts, and leverage feedback to build lasting loyalty.
  • Effortless Promotions and Data-Driven Decisions: Craft targeted campaigns for each channel, track their performance, and make data-driven decisions to optimize your strategy.

Ready to see ETP V5 retail software in action? Take a free demo today, visit: www.etpgroup.com

ETP group is omni-channel technology partner at ET Great India Retail Summit & Awards 2024

Posted on by Omprasad Devadiga

The Economic Times Great India Retail Summit (GIRS) 2024 – India’s largest retail intelligence event – is being held at The Westin Mumbai Powai Lake, India on 15th & 16th February 2024. This exceptional two-day live event is poised to reshape the course of the Indian retail landscape. Bringing together leaders from every corner of the retail world, this conference and summit is a gathering of ambitions, innovations, and forward-thinking. With representation from diverse sectors, including FMCG giants, retailers, e-commerce leaders, D2C pioneers, policymakers, industrialists, industry experts, and technology solution providers, it promises an unmatched exchange of ideas.

ETP is the Omni-channel Technology Partner at #ETGIRS2024.

ETP Group is a leading Retail Software Solutions company with a 35 year track record of delivering top-of-the line retail technology products across 24 countries in Asia Pacific. ETP’s strength lies in its ability to provide robust and innovative retail solutions built with the latest technology, architecture and design. ETP V5 includes omni-channel modules like POS, CRM, Promotions, and Analytics so you can drive more traffic to stores, have a higher fulfilment percentage, and gain customer loyalty.

The “Great India Retail Summit 2024 (ETGIRS)” stands ready to script a new chapter in the annals of commerce. Prepare to embark on a journey where aspirations meet action, where innovations shape industries, and where the future of retail is not just imagined – it’s realized.

Do meet the ETP team at the ET Great India Retail Summit & Awards 2024 to know more about how ETP can help you in elevating your retail performance and e-commerce business. Connect with us to gain insights on how to kick-off your journey to creating amazing customer experiences!

Top 4 Reasons Why Having a 360 Customer View is Important in Retail

Posted on by Omprasad Devadiga

Understanding customers and their requirements is critical for success in today’s ever-changing business market. A 360-degree customer view gives businesses extensive and/or essential information into their customers’ shopping behaviour, allowing for personalised experiences and targeted marketing initiatives.

Here, we will look at the top four reasons why a 360-degree customer view is necessary in today’s competitive retail scenario, as well as how it may help promote business growth and customer satisfaction.

Enhanced Customer Engagement and Experience:

Customer expectations are at an all-time high in 2023. A 360-degree perspective enables companies to comprehensively understand their customers’ preferences, behaviours, and interactions across several touchpoints. Organisations can develop personalised experiences targeted to specific clients with this full picture. Businesses can anticipate customer demands, present relevant information, and create seamless interactions across channels by integrating data from many sources, such as purchase history, customer feedback, and social media interactions. This increased degree of involvement and personalised experience encourages client loyalty and long-term consumer satisfaction.

Improved Sales and Marketing Effectiveness:

Businesses can use a 360-degree consumer view to make data-driven decisions and optimise their sales and marketing activities. Organisations can detect patterns and trends in customer data, segment their client base, and target specific customer groups with relevant marketing campaigns by analysing customer data. Businesses may enhance their product offers, tweak message, and optimise pricing strategies with a better understanding of client preferences and behaviours. Furthermore, sales teams can use customer insights to uncover cross-selling and upselling opportunities, increasing revenue and conversion rates.

Strengthened Customer Retention and Loyalty:

Building solid client relationships and fostering loyalty will be critical for long-term success in 2023. A 360-degree customer view enables organisations to handle consumer complaints proactively, anticipate their needs, and personalise interactions. Organisations can take proactive actions to resolve issues and improve customer satisfaction by identifying possible pain points or areas for improvement. Furthermore, businesses can identify and reward loyal clients with personalised offers, unique discounts, or loyalty programs. This client-centric approach improves retention, lowers churn, and raises customer lifetime value.

Effective Customer Service and Support:

In today’s competitive business environment, exceptional customer service and support are crucial. A 360-degree customer view of the customer across channels provides brands with the insights they need to provide timely and personalised customer care. Customer service employees have access to a complete customer profile by integrating data from multiple sources, allowing them to give relevant and personalised support. This full perspective of client contacts aids in the resolution of issues, anticipating consumer demands, and providing proactive support. Businesses can improve customer happiness, create trust, and differentiate themselves from competition by providing exceptional customer service.

Conclusion:

A 360-degree client view is a need for firms in 2023, rather than a luxury. Organisations can create personalised experiences, optimise sales and marketing efforts, build customer relationships, and provide great customer service by acquiring full insights on customer preferences, behaviours, and interactions. As organisations attempt to fulfil their customers’ changing expectations, a 360-degree customer view emerges as a valuable tool for driving growth, improving customer happiness, and staying ahead in a competitive market. Utilise the power of a 360-degree customer view to realise your company’s full potential in 2023 and beyond.

Retailers can tap into the power of a 360-degree customer view by implementing ETP Group Retail CRM software. ETP Group enables businesses to understand and engage with their consumers on a deeper level through centralised customer data management, omnichannel integration, personalised customer interactions, increased customer service, and strong analytics. This all-encompassing strategy fosters consumer loyalty, boosts revenue, and positions companies for long-term success in the competitive retail world.

Seamless Shopping: Enhancing Retail Customer Experience through Omni-Channel CRM and Inventory Management

Posted on by Omprasad Devadiga

In today’s fast-paced retail landscape, where customers have a multitude of options at their fingertips, enhancing their shopping experience has become the holy grail of success for retailers. Enter the dynamic duo: Omni-Channel Customer Relationship Management (CRM) and Inventory Management. These two pillars of modern retailing work in harmony to create a seamless, customer-centric shopping journey.

Understanding the Customer Journey

Mapping the Customer Journey across Different Channels

The modern shopper is a versatile explorer. They might start their journey browsing online, switch to visiting a physical store, and finalize their purchase via a mobile app. Omni-Channel CRM begins by mapping this intricate journey, tracking customer interactions across diverse touchpoints.

Identifying Touchpoints and Pain Points

Every interaction is a touchpoint. Effective CRM identifies these touchpoints, from website visits to in-store visits to social media engagement. Moreover, it pinpoints the pain points—those moments of friction in the customer journey that need smoothing.

Collecting and Analyzing Customer Data

Omni-Channel CRM collects data at every juncture, forging a comprehensive understanding of the customer. This data is gold; it fuels personalized experiences, efficient inventory management, and targeted marketing strategies.

Integration of Channels

Establishing a Consistent Brand Identity

Customers should experience your brand cohesively across all channels. Omni-Channel CRM ensures a consistent brand identity, aligning messaging, imagery, and values.

Syncing Inventory and Product Information

Inventory Management keeps the product information in sync. It ensures that whether customers check stock levels online or in-store, they receive accurate, real-time data. No more disappointed customers due to out-of-stock items!

Implementing a Unified Customer Database

Omni-Channel CRM unifies customer data, storing it in a central database. This means that whether a customer makes a purchase online, over the phone, or in a store, the information is consistent and accessible across the organization.

Personalization and Targeting

Leveraging Customer Data for Personalized Experiences

This unified customer database allows retailers to craft personalized experiences. Imagine a customer receiving recommendations based on their past purchases and preferences. It’s like having a personal shopping assistant.

Utilizing Segmentation and Targeting Strategies

CRM allows segmentation based on various factors, from demographics to buying behavior. Targeted campaigns can then be created, ensuring your marketing efforts resonate with specific customer groups.

Offering Personalized Product Recommendations

Inventory Management, powered by CRM data, can suggest complementary products or alternatives when a desired item is out of stock. This enhances cross-selling opportunities and customer satisfaction.

Seamless Transition between Channels

Seamless Navigation Across Channels

Customers should transition between channels effortlessly. A product saved in the online cart should still be there when they visit the physical store. CRM ensures the customer’s journey is smooth, irrespective of the channel.

Consistent Design and User Experience

The visual and user experience should mirror your brand, whether customers are shopping on your website, mobile app, or walking through the store’s aisles. A cohesive design ensures customers feel at home across all channels.

Syncing Shopping Carts and Wishlists

Ever added items to your online shopping cart and wished you could access it in-store? Inventory Management makes that possible. It syncs shopping carts and wishlists across channels, making the transition seamless.

Implementing Technology Solutions

Adopting a Robust Omni-Channel Retail Software Platform

Central to this seamless experience is adopting a robust omni-channel retail software platform. This software acts as the conductor of the orchestra, ensuring that every part of the retail operation plays in harmony.

Utilizing CRM and Marketing Automation Tools

Omni-Channel CRM is powered by advanced tools and analytics. It’s not just about data collection; it’s about how you use that data. Marketing automation tools help tailor messages and campaigns for individual customers.

Integrating AI and Machine Learning for Predictive Analytics

The future of retail is predictive. AI and machine learning, fueled by customer data, can predict buying patterns, stock demand, and even customer preferences, helping retailers stay ahead of the curve.

Providing Comprehensive Training to Store Staff on Omni-Channel Strategies

Implementing omni-channel strategies isn’t just about technology; it’s about people too. Comprehensive training empowers store staff to provide exceptional customer service, bridging the gap between online and offline.

Tracking and Analyzing Key Performance Indicators (KPIs)

To ensure continuous improvement, retailers must track and analyze key performance indicators. From customer satisfaction scores to inventory turnover rates, these metrics provide insights for refining the omni-channel experience.

Continuously Optimizing the Omni-Channel Experience

The retail landscape evolves, and so should your omni-channel strategy. Continuous optimization based on customer feedback and data-driven insights keeps you at the forefront of retail innovation.

Enhancing the retail customer experience through omni-channel CRM and inventory management isn’t just a strategy; it’s a retail imperative. Understanding the customer journey, integrating channels, personalization, and seamless transitions all contribute to creating an experience that keeps customers coming back. Technology solutions, staff training, and performance tracking ensure that this journey is not a one-time adventure but a continuous elevation of retail performance.

Enhancing Retail Operations with Advanced Retail Software Solutions

Posted on by Omprasad Devadiga

In the fast-paced world of retail, staying competitive requires efficient and streamlined operations. Traditional manual processes can be time-consuming, error-prone, and hinder growth. Fortunately, advanced retail software solutions have emerged to revolutionize the industry. This article explores the benefits of leveraging retail software to enhance various aspects of retail operations, from inventory management to customer relationship management, ultimately helping businesses thrive in today’s competitive marketplace.

Streamline Inventory Management:

Retail software offers robust inventory management capabilities that streamline the entire process. With real-time inventory tracking, businesses can avoid overstocking or stockouts, reducing costs and improving customer satisfaction. Advanced software can automate inventory replenishment, generate accurate demand forecasts, and integrate with suppliers’ systems for seamless stock ordering. With these features, businesses can optimize inventory levels, minimize carrying costs, and ensure products are always available for customers.

Improve Point of Sale (POS) Efficiency:

Efficient POS operations are crucial for providing a smooth and enjoyable shopping experience. Retail software solutions provide advanced POS functionalities that go beyond traditional cash registers. Modern POS systems are equipped with barcode scanning, integrated payment processing, and real-time inventory synchronization. These features enable faster transactions, reduce errors, and provide customers with accurate product information and pricing. By improving the efficiency of your POS operations, you can enhance customer satisfaction and boost sales.

Enhance Customer Relationship Management (CRM):

Retail software solutions offer robust CRM capabilities that help businesses build and maintain strong customer relationships. These solutions can centralize customer data, including purchase history, preferences, and contact information, allowing businesses to personalize their interactions. By leveraging CRM tools, businesses can create targeted marketing campaigns, implement loyalty programs, and deliver personalized promotions based on customer preferences. Effective CRM through retail software leads to improved customer satisfaction, increased loyalty, and higher customer lifetime value.

Optimize Supply Chain Management:

Managing a complex supply chain is a challenge for many retailers. Advanced retail software solutions provide comprehensive supply chain management capabilities, facilitating better coordination and visibility. These solutions automate and streamline key supply chain operations from procurement and vendor management to order fulfilment and logistics. By optimizing supply chain management, businesses can reduce costs, improve order accuracy, and enhance operational efficiency.

Utilize Business Intelligence and Analytics:

Data is a goldmine for retailers, and retail software solutions excel in providing robust business intelligence and analytics tools. These tools enable businesses to analyze sales data, customer behaviour, and market trends, empowering data-driven decision-making. By gaining actionable insights from retail software analytics, businesses can identify opportunities, optimize pricing strategies, identify top-performing products, and forecast demand accurately. Data-driven decision-making allows businesses to stay agile, make informed choices, and gain a competitive edge in the market.

Automate Back-Office Operations:

Administrative tasks such as payroll, accounting, and HR can be time-consuming and prone to errors if done manually. Retail software solutions automate these back-office operations, streamlining processes and reducing manual effort. By integrating with accounting software, payroll systems, and HR management tools, retail software can automate tasks like employee scheduling, payroll processing, and financial reporting. Automation frees up time for staff to focus on more strategic activities, improving efficiency and reducing costs.

Embrace Omnichannel Capabilities:

In today’s retail landscape, offering a seamless omnichannel experience is crucial. Advanced retail software solutions enable businesses to seamlessly integrate multiple sales channels, such as online stores, brick-and-mortar locations, and mobile apps. This integration allows customers to browse, purchase, and return products across channels, providing a consistent and convenient experience. Retail software solutions also enable unified inventory management, ensuring accurate stock visibility across all channels and minimizing the chances of stockouts or overselling.

Conclusion:

In an era of fierce competition, leveraging advanced retail software solutions is essential for enhancing retail operations. By streamlining inventory management, improving POS efficiency, enhancing CRM capabilities, optimizing supply chain management, utilizing business intelligence and analytics, automating back-office operations, and embracing omnichannel capabilities, businesses can unlock new levels of operational efficiency, customer satisfaction, and profitability. Adapt to ETP retail software and take your business to new heights in today’s dynamic retail landscape.

POS & CRM – A Perfect Match

Posted on by admin

ETP Blogpost - POS & CRM - A Perfect Match

 

As a retailer, you are most likely already using a retail POS system a retail CRM system. But are you aware of the advantages of having these two systems integrated and working together? If you are, you are already well on your way toward achieving retail success. If you are not, then these programs are probably working against you.

There are many benefits to having an integrated POS and CRM solution including faster transaction time, detailed customer history, and improved customer experience, to name a few. In this article, we will focus specifically on the benefits of capturing detailed customer history, and how the collected data can be used effectively. When your retail POS and CRM are integrated with each other, all your retail sales data is immediately and automatically captured in the CRM – every sale, service request, and customer complaint is logged, giving you a detailed customer profile.

Complete customer profiles provide information that can be extrapolated and applied in a variety of ways.

First, imagine a customer that has come into your retail store — let’s say you specialize in wireless products. The customer browses around for a minute or two and settles on purchasing the latest Bluetooth speaker. When they get up to the till (retail POS solution) for billing, the sales representative scans the item and in doing so, the customer profile is brought forward from the retail CRM software and the sale can be attached to their account. At this point in the integrated system, the sales associate will be able to view this customer’s entire purchase history based on recency-frequency-monetary value and will have access to valuable upgrade information, using which he/she can cross-sell or upsell with additional correlated products, or share deals that may apply to this customer.

Secondly, the customer data you collected can be used to segment your customers as per their purchase history, upgrade eligibility, and even as far as demographic information that can help you identify your purchase audience. The key benefit here is, you can now begin hyper-targeting your customer base and hone marketing efforts based on these unique profiles that bring customers back into stores.

Finally, integrated data collection is a game-changer with the ability to take the customer data and include it in your communication to customers; this is referred to as personalization. The ability to use personalization in your marketing and customer relationship efforts goes a long way, and according to a report by Forrester, the biggest challenges with personalization are gaining insight quickly enough (40%), having enough data (39%), and deciphering what is inaccurate data (38%). With an integrated POS and CRM, these key issues with executing personalization are largely alleviated, connecting the sales and customer data and by displaying the information at the POS.

Think back to that customer who came in and bought the Bluetooth speaker. You have already captured their demographic information and because your CRM and POS are integrated, you now have their sales history including details of the product they bought, the store they bought it in, and the sales rep that sold it to them. With this information, a powerful, personalized email can be created and sent to them to make sure they are enjoying their purchase, generating customer loyalty and mostly repeat business.

So I will ask again, is your POS and CRM integrated with each other and working together?

How your CRM System can boost Sales and Increase Profits

Posted on by admin

How your CRM System can boost Sales and Increase Profits | Omni channel Retail software

 

In today’s super competitive age, it is really difficult to run a business without a systematic approach. And I call that approach as CRM (Customer Relationship Management). Any business must follow the 3C model. The company, Customer and CRM.

Customer Relationship Management (CRM) is an indispensable feature of any business strategy. It aims at increasing the efficiency of any business by creating an unparalleled relationship with the customers. A CRM system is an all-in-one storage, sales communication tool, and organizer of the information of the customers. 

How do CRM systems work?

With advancements in technology, CRM has become very important. It allows connecting different departments of a business under one place.

  • CRM software uses data analytical methods to connect departments such as sales, marketing, customer service, notes, and appointments. This is an upgrade from the regular Bookkeeping system.
  • It also acts as an opportunity manager by studying the customers to establish growth trends and sales projections.
  • The data is stored onto cloud storage. This is to ensure that the data would stay safe and accessible all the time. The same can be achieved through a retail software solution.

CRM serves different functions. These functions lead to the development of function-focused software. Including-

  • Strategic – Based on establishing customer-client development.
  • Operational – This helps in establishing a dashboard for different departments. It facilitates the automation of sales, marketing department and customer service provision.

Sales are based on the trends observed from the initial stage to the latest customer purchases by the retail POS software. The use of CRM software signifies the importance of a client and help to modify the amount of interaction required to keep the customer in the loop to drive sales through various marketing strategies.

The marketing department then can automate its strategies by involving and executing tasks such as marketing emails on other social media-driven platforms.

The service department through CRM helps to establish a service technician with the customers. These include feedback, phone calls, FAQs, etc.

Using methods of correlation, pattern recognition, and data mining on the different sources or information of the customers. These help to find loopholes in the strategies used and amend them with a customer-centric approach.

 

Benefits of A CRM System

A CRM system resolves multiple problems by integrating data from various offline and online platforms. These include –

  • A CRM system enhances the relationship observed with a customer. It helps to analyze the current, past and would-be statuses of this interaction.
  • It also helps to serve the customers better. The data collected is studied to see the demands of the customers. The analysts then can strategize to serve customers effectively.

3 Important Differentiators for Retail Brands to Stay Ahead of the Competition

Posted on by Omprasad Devadiga

etp-blog-3-important-differentiators-for-retail-brands-to-stay-ahead-of-the-competition-163

The retail markets across the globe are becoming increasingly competitive for 2 major reasons. On the one hand technology has disrupted the industry in multiple ways and on the other hand customers shopping behaviors have changed dramatically. Additionally, both these factors are influencing each other to further pose more challenges and create opportunities for retail businesses. In this intensely competitive scenario, retail brands need to differentiate themselves so that they emerge winners.

Below are 3 important factors that can help retail brands differentiate themselves:

Supply chain –

Simply put, getting the customer what they want and where they want it is a serious concerns for most retailers as the complexity of processes and operations increase with the different channels and random ways the customer goes about shopping and ordering products. New omni-channel fulfillment options such as click and collect or BOPIS, endless aisles, reserve online and pick-up in-store, and a few other combinations have emerged over the last couple of years. Moreover, same day delivery, drone delivery, collection from preferred location, anywhere returns, and so on, have also come to the fore lately. Offering these fulfillment options requires retailers to have a solid supply chain system that can reduce the chances of stock-outs, damages and other potential risks. Thus it is important for retailers to focus on the supply chain and use technology to optimize it so that there is a smooth flow of the product from manufacturing to the consumer.

Customer relationship –

As stated earlier, technology has influenced the shopper. Customers today are more informed and demanding than about a decade ago. In addition to that, they are spoilt for choice thanks to the variety in products, different channels of shopping, payment methods and accessibility to information. The customers are on the driving seats and retail brands need to be ready to fulfill the demands of the customer on their terms. This will be possible only if companies keep their customers at the focal point in the business. They will have to build deep and long lasting relationships with the customer and take appropriate efforts to understand and know their customers’ preferences. Using technology to capture and analyze customer related data and with proper customer segmentation and profiling, retailers will be able to design and create tailored offerings to the customers in terms of products and related services.

Marketing and branding –

It is a no brainer that if retailers are not able to get their marketing right, they won’t be able to click. Retail companies are pumping in huge investments and efforts into their marketing and branding strategies and execution. But with so much noise around it is difficult to get noticed. In order to stand out, retail brands must adopt for a unity in diversity approach. Firstly have uniform branding and messaging, secondly identify platforms where their customers are most likely to be and thirdly promoting the brand message across these platforms will help retailers reach the desired audience with higher chance of conversions. Taking this to the next level by designing and creating offers and promotions that are hyper personalized, localized and unique will have customers wanting for more. As customer attention spans are small, retailers need to get their act together and render the maximum impact in a short time.

Also Read: What Retailers Need To Understand About The Omni-Channel Customer Experience