Customer Relationship Management (CRM) is one of the two most fundamental software platforms eCommerce businesses – ERP systems and CRM systems, which play a very critical role in the smooth operations and sustainable growth of any domain of businesses. Huge demand for consultants to deploy eCommerce CRM software and ERP customization properly has emerged in the marketplace recently.
In this article, we will talk about the definition, the examples of popular CRM platforms, and the major benefits of deploying CRM software in an eCommerce business.
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CRM is a software platform with powerful capabilities of data analytics, artificial intelligence, and process automation that is used for the management of customer interactions through multiple communication channels on a unified central platform. The centralized management of customer interactions on a centralized CRM platform improves customer satisfaction and experience, which helps improve customer retention as well as the quality of service.
Primarily, CRM software was designed to manage customer communication for services, marketing, and sales, but with the evolution in the technology, now CRM is also used for managing other stakeholders of a business entity such as contractors, partners, vendors, and team members. The global market size of the CRM software is continuously increasing. According to the Statista projection, the global market size of CRM software will reach $40.26 billion by 2023 from $35.9 billion in 2019.
A professional CRM consultant can help businesses design and customize the CRM platform to achieve the most desired business automation in any business, especially in eCommerce.
The global market of CRM software is heavily dominated by traditional software players. This does not mean that other players are not emerging in the market. The market share of the top 10 vendors accounts for about 62.4% while the share of other small players accounts for about 37.8%. The examples of a few major players are listed below.
It is a leader in the CRM industry and also has a decisive lead in all domains like sales, marketing, and services. Salesforce grasps over 18.4% of the global CRM market share with over 150,000 customers across all sizes of businesses worldwide. The cloud-based CRM solutions powered Salesforce is one of the major attractions of the Salesforce business.
Microsoft CRM implementation powered by Microsoft cloud platform has increased significantly in 2019. Microsoft’s comprehensive product, which combines both ERP and CRM solutions has achieved deeper traction in the domain of the enterprise market.
Microsoft dynamics cloud CRM ranking rose to the 2nd position with a bigger demand for Microsoft Dynamics GP consultant services in 2019. Microsoft consultant salary is also on a steep rise in all major markets to attract qualified and skilled professionals for catering to the increased demand for Microsoft Dynamics consultant services.
Adobe is one of the top players in the CRM market. The share of Adobe CRM in the marketing domain is significant as compared to the other fields. Like Salesforce CRM, Adobe’s CRM solution is growing faster than the average growth of the market.
SAP is a comprehensive enterprise solution including CRM and ERP modules. SAP CRM qualified for the second position in the CRM market in 2018 with a huge market share of about 8.3% preceded by Salesforce at the top slot. SAP is one of those CRM players, which did not lose its market share as compared to the previous year.
Two factors in eCommerce business are of a highly critical nature. First, managing multiple channels for marketing, sales, and services simultaneously; and the second, automating the business processes powered by the latest technologies.
The CRM integration offers a solution to the above-mentioned issues in an eCommerce business. The major benefits of using CRM in the eCommerce business are listed below.
A professional eCommerce CRM software platform offers agility, automation, analytics, and efficiency in all business processes and eCommerce business is fully influenced by process automation. So, the integration of the CRM platform in the eCommerce business opens up a new arena of opportunities by providing numerous benefits as highlighted in this article.