Tuesday, 16 May 2017
There are two things marketers and sales teams agree on: (1) Maintaining a steady flow of leads is tough work; and (2) anchovy is the worst flavor of ice cream. We’re here to help with the first one.
Because lead generation and customer acquisition are so difficult, customer retention is an important aspect of a smart eCommerce strategy. And how you use your existing Dynamics AX (or NAV) and your CRM for customer retention has a big impact on your profits.
Why is profitability linked to customer retention? Because retaining a customer is actually cheaper than acquiring a whole new one. (Thanks, Harvard Business School.)
Without the marketing efforts and sales calls necessary to draw in entirely new customers, your returning customers actually make you more money. And not only that, through word-of-mouth (or online word-of-fingertips,) they may even proselytize the good word of your eCommerce store.
But to keep ‘em coming back, you’ve got to give ‘em what they want. And a great online customer experience comes when you integrate your eCommerce with your other important systems likeDynamics AX/NAV and CRM.
Integration allows you to use product data, inventory info, customer profiles, and other details to create a combined, effective, targeted force of online marketing. Integration means intelligent marketing.
Here are three smart ways to use these systems to keep the most customers and the most profits:
Unfortunately, too many businesses overlook the first-time experience. And that’s not smart because you always remember your first time. Make it easy for new customers to find the right products and make it easy to purchase those products.
Intelligent search and personalized recommendations are important for consumers, and the product info they need is already in your Dynamics AX or NAV system!
Follow up sales with cross-selling opportunities directly related to the product the customer just purchased. Specificity and personalization improve conversion rates. And not only that, email marketing and newsletters keep customers up to date with your business and give them reasons to return.
With instant access to their order history, customer-specific pricing, online preferences, and customized product recommendations, past customers facilitate their own conversion into recurring customers. And the integration of your eCommerce, Dynamics AX and NAV, and CRM is what makes it all possible.