In the previous blog, we discussed the central role customer experience plays in the growth of the overall business, and how technology helps you stay ahead of the competition by enabling you to build customer relationships that matter in today’s world. We learnt that when you treat your customers like royalty - you earn their loyalty.
In this blog, let’s look at the different customer experience (CX) solutions that an ideal CX software provides, which allows you to achieve this.
The e-commerce boom is here to stay, especially in India, which is considered as one of the most desired markets for global online shopping companies. The MSME sector in the country seems to be warming up to the idea of becoming part of this revolution that is changing both consumer behaviour, and the way the market as we know today, functions.
E-commerce companies now understand how India is a unique market with extreme diversity, requiring innovative solutions. MSMEs, though hesitant to trust this new movement of the market from physical to digital, can gain in many ways by shifting their business to the online marketplace, or at least participating in it. For instance, marketing costs go down, the scope of the market increases - you can go national and even international. You can provide easy payment and delivery options for your customer, offering frictionless service. It will also enable you to become part of the formal economy.
A capable ecommerce software solution can create an online marketplace platform for any product or industry. Just as quickly as you can scale or expand your business, you can also aim for higher profits through increased market share. You will also be agile or flexible enough to address any change in consumer expectation or market forces, simply because with a ‘headless commerce’ approach, you are able to keep up your timelines without having to change your entire software system to adjust to the changes.
Headless commerce is a new buzzword in the e-commerce world, where the front end or customer facing aspect of a software architecture is made separate from the back-end, so that the customer does not get affected by any changes that are happening behind the scenes. Both these layers talk to each other through an API or Application Programming Interface - a software that acts like a translator between the two.
Both B2B and B2C companies interact with customers differently, and hence need different ways to approach the most critical part of the customer experience puzzle - acquiring, analysing and converting customer data into actionable insights, i.e., information that helps make real business decisions.
A good CX software will help you gain a 360° view of your business - i.e., it will combine all the customer data that you have, with data from your supply chain and Enterprise Resource Planning (ERP), so that you can make quick and profitable decisions for your business, keeping your most loyal customers happy with exclusive benefits, while attracting new customers - all of which can be achieved by protecting your customer’s identity and ensuring their privacy.
How does this work? Say a particular product in your inventory is seeing an increase in demand because of a marketing campaign that you have run, or because it is the season for higher sales of that product. With customer data solutions, you can see, at a single glance, how many customers are interested in purchasing that product, how soon your manufacturing and supply chain team can get the product to the market, what efforts are needed by your sales and marketing team to manage the demand, and how each of your customers are interacting with that product. These are powerful insights which truly change the potential of your business.
When you’ve promised something with effective marketing, it is time for your sales team to step up and deliver that promise. Any miscalculation at this stage is what leads customers to lose their trust in your brand.
A customer centric or customer-focused sales solution helps you avoid this pitfall. With automated sales functions that are entirely set up with cloud technology, your sales people will have more time interacting with customers, rather than being caught up with sales processes.
With inbuilt data and analytics and Artificial Intelligence, your sellers can provide intelligent recommendations to your customers. With part of your business being online, you can manage both online and offline sales effortlessly. A complete view of your customer profiles allows you to integrate all your products under one platform and create individual prices for each customer. If you work with partners, you can connect those interactions to your software architecture, allowing you to deliver better service to your customers, thereby earning greater return on investment
Customer service is the deciding factor for customer loyalty. Many businesses may see this as a pain point, as it relies more on human interaction than the goodness of your product. With a small staff, MSMEs can feel overworked to handle customer queries, especially if it involves coordination with various departments. This is where tech comes in like a blessing.
With a responsive service solution, you will be able to reduce your time and cost of customer service. You can engage with the customer at their point of need - rather than make them run around in circles, you will be able to automatically direct their call to the right team and enable communication with a channel of their choice - phone, email or in person meetings. An intelligent, cloud enabled service solution will also let various teams within your organisation view the problem at the same time, and collaborate to arrive at a solution faster, with no errors. As your business grows, you can also add customisations and increase the capacity of the solution to handle higher volume of customer queries.
Attracting and retaining customers is no easy task in today’s world where options are plenty and attention span is limited. Marketing is that task, which works to create the magic that pulls customers toward your brand or company.
Marketing has evolved from word of mouth to elaborate social media and other digital campaigns. If you are short on people, as MSMEs usually are, this is no simple job. This is where marketing solutions technology comes in to intelligently identify the right audience for your product, drive sales through effective campaigning methods, provide one-on-one customer interactions to deliver that much required personal touch and provide an opportunity to engage in “omnichannel” marketing, i.e., marketing across platforms - email, telephone, web, in-person. Customers expect seamless interaction across all these mediums and want companies to understand their needs quickly.
Marketing technology is not merely reactive, it is intuitive too - it can help you predict future trends and adapt your supply chain accordingly. With personalisation, you can deliver unique experiences for your customer, increasing their satisfaction, and you can do this for as many customers as your business can handle.