Worldwide retail e-commerce sales will reach $1.915 trillion by the end of 2016.
Yes, you read that correctly, and the figure is likely to more than double itself by 2020 – when it is touted to top $4 trillion, according to eMarketer.
The new-age predicament in e-commerce is less around gaining news customers and more to do with the management of interactions at various stages of buyer’s journey and multiple mediums of interactions.
Organizations, today, are seeking for newer and faster ways to communicate with customers for maintaining consistency across all channels of interaction. In order to enhance customer experience and loyalty, companies need to adapt to customer advocacy. To achieve this, businesses need to focus on factors driving increased customer satisfaction by optimizing cost.
This is where a Customer Interaction Management software or commonly abbreviated as CIM software has the muscle to helps companies in discovering effective methodologies, for interacting with customers by maintaining consistency for enabling continual improvement and transformation across all channels.
What is CIM?
Customer Interaction software came into existence after the rampant dependence on customer engagement, profitability and customer experience which predominantly came into the spotlight after the digital transformation. However, there were vestiges of customer relationship and interaction management before this transformation.
Customers communicate with companies through different mediums such as email, chat, phone, mobile application, text, social media, etc, and demands effective resolution to their query.
The e-commerce industry is one where delivery of exceptional customer service matters the most. With the increased use of mobile devices, e-commerce has witnessed a huge rise in their business volumes. This trend has been consistent each year but the shopping abandonments have resulted in a huge loss for e-commerce players.
As a result, e-commerce companies struggle to align their customer interaction and business strategy, but many have failed to do so. With the help of a customer experience management software e-commerce companies have the capability of adapting the best practices of customer experience management to create everlasting customer engagements.
Customer Interaction management software helps in understanding the fundamentals around the contact mechanisms desired by the customers in order to ensure that the management information systems allows the business to retain and expand by modifying operations customized to each customer. The software will integrate all the points of customer interaction into one holistic platform, transforming itself to an Omnichannel communication platform. It is all about using available intelligence for optimising processes and for configuring the supporting technology in order to deliver a collaborative customer interaction.
Successful organisations will be those enabling a customer experience management software for full collaboration across all business units to provide a seamless, end-to-end customer experience. Today, organisations are seeking to develop a more collaborative approach to customer interaction. This can only be possible by effectively implementing a collaborative strategy, where organisations can use the information at their disposal to monitor their customers behaviours and ensure that the channels being offered caters to both the consumer and organisation’s needs. If effectively implemented, a CIM solution can be a company’s front line of defense in resolving customer complaints and queries.
How Customer Interaction Management Software can Benefit E-commerce
- Customer Interaction History: Customer Interaction History provides applications with a common framework for capturing and accessing all "interaction" data associated with customer contacts. It acts as a central repository and provides a consistent framework for tracking all automated or agent-based customer interactions. It revolutionizes the customer experience and enhances customer loyalty, thereby improving the profitability of the organization.
- Omnichannel: Omni-channel experience reflects the way customers actually behave. A customer may begin an interaction online, but then switch to the contact centre, before finally visiting a branch. Because the customer does not think in terms of channels, they expect every touch point in the organisation to be aware of the activity they have carried out, even if they have not completed the interaction.
- Customer Analytics: Using reporting and analytics helps in providing the right market analysis for developing a clear understanding of the customer behaviour, needs and expectations. Customer interaction management software will also help in capturing customer speech and text interactions. This helps companies to derive operational data to forecast resources required and understanding channel performance.
- Verification Measures: While acquiring new customers, e-commerce portals are often unaware about the customer, except for the information entered by him/her. This results in a significant problem when a customer requests for a COD (Cash on Delivery) as it is pretty tough to confirm whether the customer is genuine. E-commerce players often have lost a lot in revenues due to this reason. This problem can be overcome by sending out a SMS or/and email message to customers to validate the identity. For COD, an automated call or IVR message can be sent to the customer to validate the delivery address.
- Amazing Mobile Experience: These days, 50% of customers visit e-commerce websites on mobiles and apps, and hence, customers want personalised service on mobile. Successful customer-centric businesses assign a live customer service representative to interact with customers. This can be done with the help of advanced features like in-app chat support, and missed call solutions. When customers aren’t satisfied with static support and help pages, operators often divert call center traffic to more-cost-effective solutions, such as web chat or WebRTC.