Skip to navigation Skip to content

Tech Insights 4 min read

How can you increase your revenue with a CRM for retail ?

Many professionals have considered CRM for retail (French-only link) a necessary tool for a number of years. An acronym for “Customer Relationship Management,” CRM is a type of software that centralizes all your relevant data to identify best practices regarding customer relationships or procurement.

Is your business or corporation involved in the retail industry? Are you a newcomer to this field who wants to learn more about the features of CRM? Then keep reading to find all the answers you need !

Why use a CRM for retail?

The many analytical features of CRM for retail provide a number of critical improvements for every business or corporation. As a professional, you will be able to:

  • Identify your clients’ expectations
  • Grow your clientele more quickly
  • Effectively manage your distribution networks
  • Improve your marketing strategy management
  • Strengthen the loyalty of your in-person or virtual ambassadors via every channel
  • Improve how you manage your operations and your teams

Mine your data with a CRM for retail

CRM for retail lets you build a relevant database where you can mine information to improve the client experience. Professionals widely report a boost in their sales thanks to this software’s various features.

Collect and store information in your CRM for retail

All relevant data on a client, their buying preferences or their consumption patterns are centralized on a single server. Real-time access to these data lets you establish a detailed history—a crucial element for expanding your business or corporation.

Integrate AI and BI into your CRM for retail

In a CRM for retail, AI (artificial intelligence) and BI (business intelligence) become formidable allies for ensuring the competitiveness of your business or corporation. They allow professionals to get to know their clients better using precise, relevant analyses.

Create an online and in-store database

While CRM for retail is a digital tool, it’s tailored to every business. Client data can be centralized via an online sales system or based on the operations of a brick-and-mortar store. Store employees can then view, expand or modify a CRM database (according to permissions granted). Loyalty cards are also useful for collecting a lot of information automatically.

Establish an emotional connection with your clients

CRM gives you access to a client database that you can use to establish close relationships with your clients and earn their trust. Bringing together relevant information also provides a real opportunity to establish an emotional connection with your clientele. Earning your clients’ trust and solidifying your business’ or corporation’s brand image are critical objectives here.

Increase your revenue with a CRM for retail

Professionals often report increased revenue after deploying a CRM for retail. How can this phenomenon be explained in practical terms? There are a number of factors that contribute to this growth.

Personalize offers

A CRM allows you to efficiently personalize your offers according to your database. Created and updated in real time, this database stores useful information for implementing best practices based on current trends and some location-dependent particularities.

Improve the customer experience

Once again, improving the experience of your customers based on their expectations will increase their satisfaction. You will then reap the rewards of higher customer loyalty and more sales per client. Naturally, this will boost the revenue of your business or corporation.

This software is just as effective at identifying changes in trends and suggesting new experiences. The competitiveness offered by this feature is, of course, a significant asset for every business or corporation.

Maximize points of contact with your clientele

You also need to determine which digital channels will maximize your visibility online and give you access to a potentially sizable pool of prospects. By using a CRM, you can effectively focus on the marketing channels that are most suited to your needs (email, social networks, etc.). This is where Big Data plays a critical role. Indeed, centralizing your data will make it much easier to analyze client behaviour and benefit from a multi-channel online marketing strategy.

Perfect your business strategy using CRM for retail

Deploying a CRM means you can use your database to perfect your strategy based on the needs of your clientele as well as changes in certain trends. Your employees are then fully equipped and prepared to meet the demand. Using Field Service software will improve the services they provide to your clients (by perfectly coordinating their collaboration).

Other features of CRM for retail that benefit the industry

In addition to the many data management features that we have already discussed in this article, a CRM for retail also offers other features that make it easier to boost your revenue.

Optimize supplier management

One of the most popular features of CRM is its ability to simplify and digitalize many routine administrative tasks, thereby improving supplier management. These partners will also be able to share customized reports to adjust their supply chain. This makes it easier to improve and supply products.

Manage assignments with CRM for retail

CRM for retail is also prized for its ability to generate forecast, quote and sales pipeline reports. You will be able to efficiently manage your business’ or corporation’s assignments more easily thanks to this software’s ability to understand every detail specified by suppliers and in orders that have been placed. This reduces issues with inventory processing to anecdotal levels.

Furthermore, CRM for retail streamlines your resource planning with its ability to optimize routes and allocate the right resources to the right stores.

Improve marketing activities

This won’t come as a surprise to any professional: managing your marketing activities is critical if you want to boost your sales. By opting for certain risky strategies, you may end up creating campaigns that turn out to be a waste of time. A CRM for retail lets you automate every process and estimate the ROI associated with your campaigns by managing:

  • marketing resources
  • multi-channel campaigns
  • loyalty programs

Integrate your CRM for retail with your ERP

You can seamlessly integrate a CRM for retail with an ERP to consolidate your databases. You will gain a particularly useful overview by using your customer relationship management software as sales support in your enterprise resource planning software.

To conclude

Every year, analytical data becomes increasingly critical for many industries; the retail sector is particularly affected by this continuing trend. Selecting CRM software that’s tailored to your needs is therefore critical for ensuring your competitiveness.

Want to learn more about CRM for retail so you can choose the product that will most effectively meet the needs of your business or corporation? Gestisoft offers consulting services to assist you in choosing and deploying your CRM. Contact us today via our website; our team will get back to you shortly with an initial analysis!

Liked what you just read? Sharing is caring.

January 07, 2021 by Frédéric Charest VP of Marketing

Data-driven Growth Marketer with a Passion for SEO - Driving Results through Analytics and Optimization