Over the past decade, e-commerce has grown rapidly and become an integral part of the retail industry. In fact, HubSpot predicts that by 2025, the global CRM market will be worth $80 billion. This growth is fuelled by advancements in technology, and it’s super important that you understand how they work, so you can stay ahead of the game.
A commerce-powered CRM can be a game-changer for businesses looking to drive revenue growth - start driving revenue growth today with CommercePro.
The evolution of the CRM
Customer Relationship Management (CRM) tools have come a long way since their inception in the 1980s. Initially, they were used solely for managing customer data. However, as the e-commerce industry has grown, so has the role of CRMs. Now, commerce-powered CRMs provide businesses with an (almost) all-in-one solution to manage customer data, automate sales processes, and create personalised experiences.
Benefits of commerce-powered CRMs
Commerce-powered CRMs provide numerous benefits for e-commerce businesses. HubSpot reports that companies that use CRMs are able to increase their sales by 29%, sales productivity by 34%, and forecast accuracy by 42%. With better customer insights, personalised experiences, and improved customer retention, businesses can create a more engaging online shopping experience for their customers and improve margins and profit.
The future of eCommerce
The use of commerce-powered CRMs is expected to continue to grow in the future of e-commerce. As more businesses adopt these technologies, they will be able to provide more personalised and engaging shopping experiences for their customers. Additionally, advancements in AI and machine learning will help businesses to automate and streamline their sales processes even further.
While commerce-powered CRMs offer many benefits, finding one that best suits your business can present a big challenge. And, until now, traditional CRM’s have failed to offer an all-in-one solution.
The leading solution - CommercePro
Engaging Partners have developed a commerce-powered CRM, built natively in HubSpot. Through a direct integration with Stripe, one of the leading payment processors globally, and a custom cart and checkout solution, CommercePro removes the often required exit to third party sites or modal windows for payment processing - it’s fast and responsive.
What’s more, as transactions are processed securely through Stripe, no card data is recorded in HubSpot - so customers can make payments with ease, knowing that their payment information is protected. CommercePro was also built on the HubSpot CRM in response to another common CRM frustration - the inability to accept payments directly within the website. We developed a cart and checkout solution built directly on HubSpot, removing the often required exit to third party sites or modal windows for payment processing.
In conclusion, the use of commerce-powered CRMs is transforming the e-commerce industry. As businesses continue to adopt these technologies, they will be able to provide better customer experiences, increase sales, and improve customer retention. With the help of data privacy solutions, businesses can overcome any challenges that may arise from implementing commerce-powered CRMs.
It's clear that commerce-powered CRMs will play a significant role in the future of e-commerce - try out our solution, CommercePro, today.