In an effort to better serve their customers and streamline their various processes, ecommerce retailers often implement a database to strategically capture vital information. Failing to manage the materials contained in this record-keeping system can have serious consequences for online stores. Introducing a software that takes care of this responsibility can save web-based companies time, money and headaches. Let's take a look at the role database management plays in the ecommerce industry:
A collaborative approach
Within an ecommerce business, there are various departments at work and steps in play. For the operation to run smoothly, organizations need all of these elements to come together to achieve a singular goal: make the customer happy. That means ensuring the ordering system is easy for clients to use, employees get the order and package it with the correct materials and the shipment is delivered in a timely manner.
This process can be challenging for online companies to complete, as it requires every portion of the procedure to be in sync. Database management can help by creating a stronger sense of collaboration between these separate – but connected – tasks, according to Econsultancy. The ability to manage the entire customer lifecycle through one piece of software enables employees at different stages of the process to update critical order information in real time, keeping the consumer relationship in tact in all stages.
"Database management can help companies bring in a new audience."
Attracting an audience
Ecommerce companies are always attempting to widen their net, pulling in more interested customers to view and purchase their products and services. With new consumers comes the potential for additional revenue and client referrals, according to the Houston Chronicle.
A database management system helps online businesses pinpoint possible customers and determine a strategy to push them through the sales funnel based on the information already on hand. Targeting their marketing efforts with these materials can help web-based businesses achieve the results they desire, while earning the trust and loyalty of good customers along the way.
A retention rate to be proud of
While bringing in new consumers is an important task for any online retailer, their current client base shouldn't be overlooked as it offers its own benefits. According to the Harvard Business Review, acquiring a new customer can cost five to 25 times more than retaining an existing one. With that information in mind, it's in ecommerce companies' best interests to develop strategies to keep their loyal clients satisfied and coming back for more.
With the assistance of database management software, web-based businesses can do just that. Retailers can use existing customer profiles to recommend products and services they may enjoy based on previous purchases and interests. The helpful assets gleaned from this system can increase consumer retention by 27 percent, according to HubSpot, a number ecommerce companies should be proud of.
SFG offers online retailers the database management assistance they need to thrive. Whether it's an efficient order management system or data cleansing help, SFG can ensure profit margins increase and customers are happy.
