The Internet is amazing, isn’t it? It enables us to procrastinate, entertain and meet new friends. Besides that, it also allows us to find and buy things that we could only dream of possessing for years. Online shopping has become more prominent and accessible in the recent past. All we need to do is sit at home, open an account and explore the options that online stores offer. The e-commerce ecosystem has transformed the way business is done in India. According to reports, the Indian e-commerce market is expected to grow to US$ 200 billion by 2026 from US$ 38.5 billion as of 2017. Thanks to the increasing internet and smartphone penetration, the e-commerce market has grown in India, spreading its reach like never before.
However, Indians still continue to purchase from offline retailers as compared to online ones. The reason mainly being, that many still prefer to go to the store by themselves and see the actual goods, feel and try them. Sometimes, consumers also prefer the human presence that is involved as opposed to its online counterpart.
In such cases, what makes e-commerce interesting? Time, experience, and options are the three fundamentals. There is a very large base of active Internet shoppers who prefer online shopping for the fundamentals mentioned above, which are facilitated by the experience they received starting from logging into the platform, multiple options that are provided to them, seamless payment method, customised pre-delivery experience (tracking details, constant communication about the status of the purchase, etc.) to delivery at their doorstep. Also customised post-delivery experience like informing about the delivery, getting post purchase feedback, etc. The entire transition makes a lot of difference in a virtual world. Having said that, communication definitely is the fourth fundamental that makes online purchasing a boon. Cash on Delivery (CoD) service offered by almost all the e-retailers in the country also leverage the entire Indian e-commerce market, as it now accounts for 67 per cent of the total e-commerce transactions in India. What caught the attention of the consumers was the trust showcased, and the realization that they could buy online and pay post receiving the product.
E-commerce, hence, with its high requirement to keep customers engaged, is one of the verticals that is best served by cloud telephony. With dwindling customer loyalty and increased customer acquisition costs, every brand needs to think of factors that sets them apart from the growing tribe of e-commerce companies. Most often, the answer is “personalised customer engagement.” Here are a few ways in which CRM measures integrated with cloud telephony system can help e-commerce companies:
- Order status updates – when a customer orders on a particular website, it is important to keep them informed at every stage about the status of their orders using SMS
- Automated feedback system – Automated calls or automated bulk SMS can be used to understand how the customers feel about the entire shopping experience. This feedback becomes the basis for process improvement
- Relevant promotions – based on a customer’s actions on the website (abandoned cart, incomplete purchases, shopping trends), the companies can send promotional SMSs to the customers. This kind of personalized marketing promotions results in a better response rate.
- Automated Cash on Delivery (COD) verification – Companies like Zivame have seen a reduction in their losses up to 80% by using our automated COD verification solution.
- Safeguard customer privacy – Enabling number masking will ensure that the phone number of the customer is protected from service partners or third-party service providers. This plays a huge role in boosting the brand image.
- Reduced cost – since there is no CAPEX involved, cloud telephony brings down the cost. With a pay-as-you-go model, the investment is then only OPEX
- Zero maintenance- There are no wires or equipment, thereby liberating any possible infrastructure maintenance cost involved. Any other issues can also be resolved in a jiffy, thus ensuring there are no roadblocks to a smooth experience
- Better agent experience – when a company integrates their CRM with cloud telephony systems, the agents have a single interface they can get all the customer information from. This leads to higher efficiency and a better agent experience as well
- In-depth reporting – Cloud Telephony helps the companies by allowing them to monitor daily comprehensive reports about the status of the calls and SMS, including details about the agents’ performance.
- Increased faith in the brand – all of the above leads to a better trust in the brand as well
The article has been penned down by ShivakumarGanesan,Co- Founder and CEO, Exotel