How to retain customers: ERP and loyalty
In this new era, when customers are much more informed about products and services, companies have begun to recognize the shift in power from seller to buyer. Those who know how to retain customers are clear that a good business strategy is no longer about helping the seller to sell, but about helping the buyer to buy. That includes looking at ERP in a slightly different way.
What changes in the market have marked the relationship with customers?
Today’s market is constantly growing in complexity and competitiveness due to continuous advances in technology and innovation. Due to the convenience of technology, customers can quickly find information and make informed purchasing decisions even without speaking to a salesperson.
Customer expectations for service, quality and personalization are also continually increasing. Therefore, companies need to adapt to this new scenario and try new approaches that allow them to attract new segments and also rediscover how to retain customers.
The successful implementation of ERP and CRM solutions has become a key part of continued growth. When these solutions are used effectively, they can reliably improve the point of sale, optimize the shopping experience, and at the same time exceed buyer expectations.
How to retain customers through the use of ERP?
Companies that know how to retain customers in today’s market environment take advantage of the possibilities of solutions such as ERP to improve their profitability. Thus, when it comes to promoting the loyalty of their consumers, they carry out the following actions:
1. Effectively manage inventory
When there is a discrepancy between customer demand and inventory level, delays, inefficiencies, and consequent customer dissatisfaction can occur. Stock tracking and management can be simplified with an integrated system with warehouse management, sales processing, and CRM functionality. This will provide full visibility and real-time data on orders and items in stock. Businesses will be able to use this information to quickly deliver orders and make informed purchases. The inventory management by using an ERP system gives you care personnel to the customer the ability to provide excellent service, by providing them with the tools to turn a potentially negative experience into a positive one. If, for example, an item is out of stock, then an employee can use the store’s ERP solution to scan the product, find where it is in the supply chain, provide an accurate delivery time, and then have it shipped to the customer. straight home. In this way, not only does the customer avoid having to go to a competitor, but it also manages to deliver a positive brand experience that increases the chances of customer retention.
2. Offer detailed product information
Today, customers often expect retailers to personalize the experience with more comprehensive information and advice. To be successful you have to go beyond the product label, and consider the information as an added value. For example, a customer buying from a wine merchant hopes to request information on flavor notes, pairing options, or data on other wines from the same winery. Companies that know how to retain customers have attentive and informative staff, two qualities that are key to the experience. A fully integrated ERP system enables retailers to give their staff full and instant visibility of all products. Thus, by accessing the database, any member of the staff could answer a client’s questions exhaustively and consistently, providing a level of detail that contributes greatly to brand loyalty and can make a difference when it comes to achieve new purchases from that same customer in the future.
3. Ensure a personalized shopping experience
Personalization is the first step to up-selling and cross-selling. The customer’s personalized shopping experience requires a very focused type of sale based on data analysis work. An ERP solution can help this, by facilitating the establishment of alert settings to staff about related items to offer to certain profiles, and, at the same time, to the customer about opportunities in relation to specific items, similar to the ones they are buying. . Effectively implementing an ERP solution can provide a real competitive advantage, not by trying to sell customers more than they need, but by helping them find a broader range of products that will actually be of use to them.
Knowing how to retain customers is a matter of vision and strategy whose success is closely related to technology. The implementation of a comprehensive ERP system offers an advanced way to streamline the customer experience and develop brand loyalty, based on data that allow the best decisions to be made at the right time, making that loyalty last over time.
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