Email marketing can still be one of the most effective ways to reach customers and build brand loyalty. While there are pros and cons to keeping an email list, the conversion potential is far greater than through almost any other method. You’ll have a direct line to people who have expressed enough of an interest in your product or service to subscribe.
Here are some of the best strategies to drive higher conversions through email marketing.
1. Choose the Right Newsletter Provider
According to research, emails are the leading reason people buy something, with 44% of surveyed consumers citing it as a motivator. Therefore, investing in creating a newsletter can be a notable strategy for your brand.
However, the way you send a message can make a difference in conversions. Some email newsletter providers garner higher delivery rates than others or provide more extensive feedback on user habits.
The right newsletter provider is the one that you can afford the monthly fee for and has the elements you most want and find useful. Additionally, it must be user friendly. Anyone in the company should be able to schedule a message without a huge learning curve to figure out the system.
2. Build Your List
Email marketing is most effective when you collect a list of people highly interested in what you offer. Building your mailing list may be as crucial as what you actually send out. You want people who are highly engaged and in the market for what you sell.
How do you find them? Start by creating buyer personas listing out the qualities of your typical customer. You can run ads on social media offering a perk if they sign up for your mailing list — perhaps a slight discount, free shipping or other freebie.
3. Set Up Drip Campaigns
Once someone signs up for your mailing list, what happens? The goal is to keep only those people who are highly engaged and likely to convert. In most cases, email marketing service providers base their fees on the number of subscribers. So, while having many subscribers often leads to higher sales, you want to ensure the majority of your subscribers are actually interested enough to convert in the first place.
The best way to narrow down your list is by setting up a drip campaign that starts when they subscribe. Send a welcome email explaining what you do. Throughout a few days and several emails, offer insight into what they gain by being on your list.
In each message, include an easy way to opt out and unsubscribe. Providing an easy out, even after downloading a freebie or other offer, ensures you keep only highly engaged customers and don’t pay for those who never open your emails.
4. Segment Your Audience
Another way to improve your email marketing is by segmenting your audience. By splitting your users into groups, you can highly personalize the offers you send. There are many different segmentation methods, such as demographics or past buying behavior.
For example, if your analytics show that a group of people click on a particular offer every time you send it and you get in a similar product, you can send a message to the segment of people who loved the initial item.
5. Schedule Emails
While it’s impossible to pinpoint the best time to send emails, your audience will help you see the prime moments for them to receive a message from you. Pay attention to your open rates. If you send a message in the morning, are open rates higher? What about in the evening?
You may find that a particular day garners more click throughs than another. Your email service provider should have an analytics system you can study to figure out timing. The only way to know the best time for your subscribers or even different segments of your audience is by testing and tracking results.
6. Improve Subject Lines
People get numerous emails every day. As they look through their inboxes, it’s easy to click the delete button. Your goal is to get them to open your email and read a bit more. Your subject line is the first impression they have of the campaign. You want to create such an interesting headline that they can’t resist clicking on it.
Some of the things to focus on as you’re formulating a subject line include:
Being short and to the point
Including action words
Being relevant to the offer
Making it clear who the email is from
Avoiding words or phrases that could be seen as spam
7. Create a Sense of Urgency
The way people generate email marketing is changing, and artificial intelligence (AI) plays a big role in email today. Around 33% of marketers surveyed stated they use AI “to some extent” in their email campaigns. Another 24% said they use it “extensively.”
One thing AI can help with is creating wording that creates a sense of urgency. Titles such as “Limited Time” or “Offer Expires in…” can encourage people to read your message today instead of letting the deal expire before they get a chance to use it.
How Can You Improve Email Marketing Efforts?
Email marketing is something you should consistently improve until you hit the goals you’ve set for open rates and conversions. Tapping into the power of modern technology gives you a chance to compete with others in your industry and find success more quickly than going into a campaign without the data needed to succeed.
Manufacturing businesses traditionally drive their production processes using machinery and physical assets. However, data has now become a valuable asset for organizations across industries. In particular, manufacturing firms have started leveraging data to gain a competitive edge.
Data analytics in manufacturing is becoming more and more popular nowadays. Using the power of data, businesses facilitate cost reduction and customer satisfaction improvement. Analyzing vast amounts of data, manufacturing companies can gain insights into their processes. Thus, they can simplify the process of identifying inefficiencies and increasing performance.
In this article, we will focus on manufacturing analytics’ benefits and use cases. Discover ways to make data-driven decisions and optimize your operations with us.
What manufacturing industry challenges can data analytics help to solve?
The importance of technologies such as AI, data analytics, and big data in manufacturing is enormous. It is because businesses in this industry face problems such as:
supply chain disruptions
quality control issues
changing customer preferences
regulatory compliance
cost management
fraud
expensive downtime
customer churn
However, data analytics can help solve the issues listed above. This is because it provides insights for better decision-making and more efficient processes. Hence, manufacturing businesses can better plan their budget, improve their decision-making, and optimize efficiency. As a result, many organizations are now opting to utilize off-the-shelf software. Others hire Scala developers to integrate data analytics with their custom solutions.
Benefits of data analytics in manufacturing
Data analytics helps manufacturing businesses achieve more through smarter resource and asset management. Let’s review the key benefits of data analytics in manufacturing in more detail.
Cost optimization
Using data, businesses can eradicate insufficiencies and save money. One of the manufacturing analytics examples includes identifying inefficient equipment. Companies can then schedule repairs before a breakdown occurs.
Thus, data analytics allows for avoiding costly downtime and machinery repairs or replacement. Moreover, analyzing data allows for finding areas of waste. As a result, businesses can optimize their use of resources, thus saving costs.
Better decision-making
Being well-informed is one of the main principles of the decision-making process. Analyzing generated production data makes it easier for companies to identify improvement opportunities.
For instance, data analytics helps determine the most profitable products or production lines. After that, a company can allocate resources in a more productive way.
Increased efficiency
Areas of waste, bottlenecks, and other resource allocation issues often impact productivity. By using data analytics to identify the problem, companies can streamline the production process.
Another way to increase efficiency is to optimize equipment utilization. For example, data analytics can help monitor and replenish inventory levels to avoid overstocking.
Customer satisfaction
Customer data is yet another asset for a manufacturing company. Analyzing this data helps businesses gain insights into their clients’ preferences and behaviors. So, an organization can better meet consumers’ needs with improved products or services. As a consequence, customer loyalty grows, as well as the possibility of upselling.
In addition, data analytics can assist in user experience monitoring and optimization. By tracking feedback, it can identify areas to improve the UX. Thus, companies may strengthen their brand reputation and retain more customers.
Manufacturing analytics use cases
The manufacturing industry can benefit from data analytics in many ways. Some prominent use cases are predicting maintenance needs and forecasting demand. Leveraging data analytics tools enables businesses to gain insights, optimize operations, and improve their bottom line. Now let us look at manufacturing analytics use cases:
Predictive (preventive) maintenance
Imagine being able to predict when your equipment will crash or require maintenance. Sounds convenient, right? Well, predictive maintenance makes this dream a reality.
By analyzing sensor data and historical records, businesses can identify potential failure patterns. Predictive analytics for manufacturing can help enterprises avoid costly downtime and reduce maintenance costs.
Another way to prevent a breakdown is to find the best schedule for proper equipment upkeep. This approach involves the analysis of historical maintenance data. Thus, companies will minimize the chance of unexpected malfunctions. This can lead to machine uptime increase, productivity improvement, and budget optimization.
Demand forecasting
Data analytics in manufacturing helps predict future product or service demand. For this purpose, engineers analyze sales data, economic indicators, and other relevant factors.
Demand forecasting allows businesses to estimate how much of a product or service a firm will need to provide. Thus, companies can enhance their inventory management and streamline production schedules. As a result, they can reduce the risk of stockouts or overstocking.
Supply chain optimization
Now what about using data to improve the efficiency of the supply chain? Manufacturing analytics can benefit suppliers, transportation providers, and other supply chain partners. It allows businesses to identify cost reduction, process streamlining, and collaboration improvement opportunities.
An example would be when a company defines the optimal order quantity. Another instance is when it reduces lead times or improves inventory management. By analyzing transportation logs and shipment data, companies can identify route planning inefficiencies.
Having optimized supply chains with data analytics, manufacturing businesses can:
increase their agility
improve responsiveness to customer demand
optimize routes
minimize transit times
reduce fuel consumption
improve overall delivery efficiency
Quality control
Quality control involves using manufacturing industry data analysis to improve the product. First, manufacturers receive data from sensors and inspections. After that, the ensuing examination allows them to detect and address quality issues. Thus, clients do not get defective products, resulting in higher customer satisfaction.
Data analytics in manufacturing also helps to identify patterns that indicate potential issues. Businesses can then take action to mitigate any problems that may arise. This proactive approach allows manufacturers to address issues before they become significant challenges. In such a way, manufacturing businesses can reduce rework costs, improve customer satisfaction, and maintain brand reputation.
Price optimization
It takes much work for businesses to establish an ideal price price for their products or services. On the one hand, they strive to make the most income possible. On the other hand, customers have to feel that they pay a reasonable amount of money for what they receive.
Manufacturing data analytics facilitates the optimal price point determination for products or services. It consists of the analysis of market trends and customer behavior. This allows organizations to charge the amount that maximizes profitability while remaining competitive.
Product development
Another application of data analytics in manufacturing lies in product development and design. Manufacturing businesses can examine data on customer preferences, market trends, and product performance. Consequently, they can make informed decisions about product design and features improvement.
Organizations can identify opportunities for new product development using data analytics. Moreover, it enables businesses to prioritize their efforts based on demand and profitability potential. This way, they can create products that better meet customer needs and preferences. Moreover, it allows for the reduction of development costs and time to market.
FAQs
Why is data important in manufacturing?
Data holds significant importance in the manufacturing industry. Through advanced analytics techniques, manufacturers can uncover hidden patterns, trends, and correlations within their data. Data analytics enables them to optimize processes and streamline operations. Thus, companies can gain a competitive edge.
What are the benefits of analytics in manufacturing?
The benefits of analytics in manufacturing include cost optimization, better decision-making, increased efficiency, reliable quality control, and improved customer experience.
How is big data analytics used in manufacturing?
Manufacturers use big data analytics to gain insights. For that, companies analyze complex data sets from various sources. Next, a team of engineers can turn raw data into actionable insights. Then, organizations can make data-driven decisions for continuous improvement and success.
Conclusion
To sum up, data analytics holds great significance in transforming the manufacturing industry. Firms can leverage this technology to make profoundly important decisions and overcome any potential challenges.
Using data science in manufacturing, an organization can implement predictive maintenance, demand forecasting, supply chain optimization, quality control, and price optimization. As a result, manufacturers can bring their business activities to the next level.
In today’s digital day and age, clout is currency—the more you have it, you’ll get more people to trust and do business with you. Industry leadership is the paramount reason why thought leadership is important for businesses, new and old.
Hence, integrating it into your digital marketing strategies is critical to ensure that you acquiring and retaining customers. Through expertly executed thought leadership practices, your growth isn’t limited to search engine optimization. Ultimately, it strengthens your brand presence and asserts your business value in an authoritative, authentic, and trustworthy way.
And, in a digital landscape that has grown tired of half-baked tips, this trust becomes the fuel for accelerating and generating sustainable growth.
Benefits Of Being A Thought Leader
To paint you a better picture of why thought leadership is important, here are some benefits you can look forward to as a growing business owner:
1. Allows you to share your expertise in your field
As a thought leader, you’re given the chance to show how knowledgeable you are in your industry. Then, when you apply your knowledge into must-have solutions for your audience, it becomes a buy-in for customers and encourages them to come back to you for more.
That’s added reach for and better-quality business, all for the effort of a few expert thoughts. So be sure to find every possible opportunity to give value to your audience such as writing guest blogs, guest-speaking at events, and more.
2. It creates an avenue to present your unique way of thinking
Thought leadership is a process of sharing new ideas. Hence, growing business owners like yourself who have a new take on providing relevant solutions can surpass even larger corporations.
There’s no one company that offers the best-fit solutions for each customer. And if you’re coming into the playing field offering something different, then the best way to ring it in is through thought leadership.
People are always looking for new solutions to old problems in their niche. When you show that you can deliver these, you become authoritative, carving a new path that’s easily recognizable in your industry.
3. Puts a spotlight on your business and unique brand value
By creating thought leadership content, you brand your business as an authority, telling audiences “My brand is exactly what you need.”
As a result, more people will start valuing your work and, eventually, what your business is selling. If you continue doing so, you’ll soon find yourself not just the owner of a growing business, but a successful and influential one, too.
4. Allows you to foster connections with industry peers
Collaboration is a key facet of marketing that opens doors for all constituents. For thought leadership, in particular, it is necessary to build relationships with industry peers.
Because the digital public relations process requires reaching out and, in turn, being open to outreach efforts you are able to build and nurture connections in your field. This fosters trust through the act of creating beneficial guest content for one another and, incidentally, each other’s audiences.
This collaborative process in thought leadership affords you opportunities to:
publish on various platforms
access a wider, newer audience
establish your brand as a pillar in the industry
But collaboration doesn’t just end in the creation of content. Once your peers recognize the value of your business and perspectives, it can potentially open the floodgates for higher-value and meaningful partnerships.
How To Build A Successful Thought Leadership Strategy
Now that you know the benefits of being a thought leader, these steps will help you become one today:
1. Set clear and realistic goals
Success is attained through small, consistent steps every day – not one giant leap forward. That’s why you have to create goals that impact your business, but are still doable with the available resources at hand.
In the case of thought leadership, you can pin down the following goals as a measure of success:
Reach. Is the amount of people you are able to talk to through your content – on websites, or others. Publishing these outside of your website and on the websites of peers and/or media helps you boost this metric not just in quantity but in quality, as well.
Traffic. Is fundamental to generating conversions and improving search rankings. Unlike reach, traffic is closer to an engagement metric as audiences click and find their way to your website.
Improving this through thought leadership is a trust signal to search engines and gives you more opportunities to capture leads.
Domain authority. Is a metric that signals the strength and authoritativeness of your websites. Measure through Moz’s MozBar, it’s a rough estimate of how trustworthy your website is.
This metric improves the more you contribute guest blogs to high-authority websites which, in turn, helps you rank better on search engines.
Engagement. Engagement tracking means you’re looking for people interacting with your content. If your audience continuously reacts, comments, or shares your content, then it means you delivered something useful for them.
Conversion. Finally, conversions mean if your audience does exactly what you want them to do.
Conversions could mean a lot of things such as buying your product or service or downloading your e-book. Whatever the case, conversions show that all your efforts have convinced your audience to take a chance on your brand.
With these metrics tracked, you can better understand how well (or not) your thought leadership efforts are faring from different angles – something impossible to do when only viewing success as one whole picture.
2. Establish a powerful brand message
With your goals pinned down, it’s time to communicate and achieve them. To create a unique brand voice for your content, focus on creating content that speaks directly to the target audience’s needs and aspirations.
By doing so, you’ll learn how to ensure every piece of content you publish makes your audience feel heard. After all, your main goal is to give them solutions that can help them with their ongoing struggles.
Once you do this, watch as ordinary visitors transform into life-long fans of your content and brand.
3. Conduct thorough keyword research
Finding the keywords and publications your target audiences use allows you to make your business’ presence be known – increasing your chances of finding more avid supporters.
To conduct keyword research, be sure to follow these steps:
List down keywords related to your brand and business.
Identify matching terms and related keywords you want to write content about.
Establish which websites are linking to content produced around these keywords.
Determine which websites are linking to content produced around these keywords.
Develop topics based on the target website you want to pitch to, and the content gap identified for their audiences.
Now that you know how to do keyword research, you’re now ready to pitch your content.
4. Ready your pitches
Prepare suggested outlines and titles for the content you want to offer your targeted website publishers. By doing so, you’re effectively selling your content to the publisher, increasing the content’s chance of getting posted on the website.
Make sure your content is also valuable to your host publisher by following this step-by-step process:
Offer something unique that the publisher’s many writers haven’t addressed in their content yet.
Provide the editor with a list of topics you want to write about to make their selection process easier.
Be professional whenever you’re communicating to the publisher by being brief with your emails. However, ensure that these emails have all the essential details about your pitch.
Have a clear CTA at the end of your message that encourages the editor to respond to your pitches.
Email as many publishers as you can to increase your chances of getting a guest content spot – this is still a numbers game, after all.
By following these steps, you can create guest content that resonates that would surely catch the publisher’s eye.
5. Devise an outreach strategy
Good thought leaders devise outreach strategies that know how to effectively catch the attention of publishers and experts.
Here’s how you do it:
Ready an outreach list of the websites you want to get featured on.
Reach out as an authority by expressing interest to contribute to the website as a leader in your organization.
Develop a decision-making process for which pitches to pursue or drop (see the image below).
6. Create the content
To be a true thought leader, you must master various content creation skills like writing, doing research, public speaking, and more. You’ll develop these skills when you follow this flowchart:
When you consistently follow this flowchart, you’re slowly building your skillset towards that of an effective thought leader – so keep on practicing!
7. Choose your platforms
The great thing about the internet is that there are endless possibilities to share your brand’s message. Whether it’s a blog through your own site, TikTok or YouTube videos, or through tweets, your message can reach so many people today.
To help you get the best results, here are some ideas you could use for different social media platforms:
Twitter. A great way to be a thought leader on this platform is by leveraging Twitter Spaces or creating concise threads detailing a specific topic. These efforts would result in more eyes on your Twitter page since you’re giving so much content.
YouTube/video-capable social media platforms. For YouTube or any other platforms with video, such as Facebook, you may opt to create long or short-form webinars. This works because these platforms’ users learn while watching.
Instagram. Instagram, on the other hand, encourages you to create must-know industry infographics so that your target audience are always on the loop on the latest trends.
TikTok. A great way to get eyes on TikTok as a thought leader is by getting the highlights from your best-performing videos and uploading them on the platform. Doing so allows you to whet TikTok user’s appetite for your content as you give them something short and sweet.
8. Measure and monitor your content performance
With your strong brand message now shared throughout different online platforms, it’s time to see if any of your plans worked.
Here are some must-have tools to do this:
Referral traffic. Using Google Analytics, you can view how effective your guest blogs are at acquiring audiences by looking at referral traffic. High referral traffic from sites you knowingly submitted articles is a good sign that your content has resonated with your collaborator’s audience.
Backlinks. This specific metric can be viewed through Ahrefs’ Backlink Audit feature. It allows you to perform an analysis of the links that lead back to your website. Don’t just look at the number of links you acquire, but look at the quality, too.
Low-quality links (usually under 30 in domain rating) can pull down your domain authority and website health versus higher quality ones (domain rating of 30 and above).
Monitoring these metrics accordingly will help you better understand what works and what doesn’t for your thought leadership efforts.
Thought Leadership in Action
Now that you know the facts, it’s time you knew what effective thought leadership looked like in action:
Propelrr. We at Propelrr dabble in writing guest blogs to help us become an authoritative digital marketing company. In this article, we talk about how impactful doing survey experiments to achieve a brand’s bottom line.
Additionally, we’ve done guest blogging for big media like Rappler, did guesting in podcasts like ‘A Better Normal’ by PumaPodcast, and other blog publications of related businesses. These efforts resulted in higher referral traffic to our site.
Jay Shetty. Jay Shetty is a life coach who shares many of his teachings through his YouTube channel, podcast, live guest speaking, and several books he authored.
As a result, his YouTube channel has 4.67 million subscribers, his podcast, On Purpose, has 937,000 listeners, and his book, Think Like a Monk, is a constant bestseller.
Deloitte. Professional services firm, Deloitte, shares its tech expertise and more on a free podcast called On Cloud.
Because of the podcast’s accessibility, it’s one of the most highly rated tech podcasts out there, receiving a 4.7 out of 5 reviews on Apple Podcasts, and currently, has a 216-episode count.
Key Takeaways
To be a true thought leader, you must develop a voice that can never be drowned by others in today’s saturated digital landscape. With it, you’d become an authoritative presence among thousands in your industry.
To do so, remember the lessons:
Be unique. Read, watch, or listen to as much business-related content as possible so you can offer unique insights to your audience.
Try different approaches. Take part in different activities like podcasting and guest blogging to build authority and reputation among multiple channels.
Keep on improving yourself. Improve your knowledge and skills to give your audience relevant solutions to their current problems.
Finding the will to overcome the many challenges of being a thought leader is no easy feat. When you do, however, you’d be rewarded with the attention of your growing audience base.
You handled everything from home when you first launched your eCommerce business, starting it all independently. But eventually, you’ll need to scale up because your company will outgrow your house. Utilizing fulfillment centers is a positive action you can take. Here is a guide on what they are and how to take advantage of them.
What Are Fulfillment Centers?
What is a fulfilment center? They are a warehouse or storefront that stores and ships out stock to customers. They allow stores to have their stock stored and handled elsewhere, rather than the owners handling them all themselves.
Is that not the same thing as a warehouse? You may use the terms interchangeably, but they are very different.
“A warehouse is set up simply to house inventory,” says Simon Turner, an eCommerce writer from Paper Fellows and UK Writings. “It may not be holding stock to be sent directly to customers, but to be sent to other retailers too.”
The fulfilment center, on the other hand, is set up to move inventory directly to the customer. Unlike a warehouse, the longer the stock sits on the shelf in a fulfilment center, the more money is lost. As such, they aim to move stock as quickly as they can.
There’s also a distinction to be made from distribution centers. A distribution center aims to move stock quickly as well, but they send stock to other retailers and businesses rather than customers directly.
Types Of Fulfillment Centers
There are actually different types of fulfilment centers, so you can find one that suits you best. These include:
Warehouse fulfilment centers: These centers are run out of warehouses, so your stock is held there rather than in your home or garage.
3PL fulfilment center: These centers have all fulfilment of orders handled by a third party, rather than you.
Order fulfilment center: This refers to any place where fulfilment happens, run by anyone and of any size.
Why Use A Fulfillment Center?
Now that you know the basics, you need to know why using a fulfilment center is the next step in scaling up your business. Here’s why you’ll want to consider them:
You don’t need to own a warehouse: If you’re going to move your business out of your home, you’d think the next step would be to get a warehouse. However, it costs money to rent, pay staff, insurance, etc. Instead, you can use a fulfilment center, as you’ll have much lower overhead costs to deal with.
Automate the process: Improving the processes of your business is important, as you want to be faster and more efficient. This is where using a fulfillment center becomes important. You can use them to automate a large part of the order process, such as the ‘pick and pack’ process and stock updates.
Implement fast shipping: Picking the right fulfilment centers is key to getting the most out of them. “Having selection centers across the US can benefit your business” says Fiona Layman, a business blogger from Write My Paper and OXEssays. “As such, you can get goods to your customers much more quickly.”
No need for training: If you were to set up your own warehouse, you’d have to hire and train staff. That’s going to take up a lot of time and energy, not to mention money, and that’s something you may not want to deal with. Instead, you can let the fulfilment center handle all of this for you.
Faster processing: When it’s just you processing orders, it’s always going to be slower than outsourcing the work. You have to handle everything, and picking and packing orders is time consuming. Having a fulfilment center makes the process much faster, as staff will be there handling all of that for you.
There are lots of reasons why you’ll want to look into fulfilment centers for your eCommerce business. Having access to these centers frees you up, and enables you to offer a faster and more efficient shipping service.
Setting up an online business doesn’t have many barriers, but maintaining the business requires substantial effort, especially if you want to scale up. To deal with the complexities of business management, you can embrace technology that streamlines workflows and improve your operational efficiency. Investing in good software will help you save time on repetitive tasks and push your business to go faster. Let’s explore the benefits and the 5 most important management software features that help online business owners achieve their goals.
Why Do You Need A Management Software?
Business management software can support you in various aspects of both internal and customer-facing work. It can be a system for retail store management, inventory management, content and social media management, employee scheduling, analytics, and accounting.
Controlling the full spectrum of the business on 1 platform provides you with data centralization and consistency. Here’re the benefits of management system:
Ensure alignment for different teams: Since all data and documents are synced in 1 place, your employees can get access to the latest data and avoid discrepancies.
Standardized processes: Software is the digital solution to control business. It simplifies processes, makes sure people know their jobs and can access the resources they need.
Automate tasks to save time and money: Automation is the best way to scale up with minimized human resources. It eliminates human errors and saves time on manual tasks, thus freeing up your employees for more important tasks that improve the products and customer experience.
5 Features To Expect In A Business Management Software
As an online business owner, you need to control your remote teams and offer outstanding services to customers. To do that, here are the 5 management system features you need:
1. A simple and secure payment process
When customers place an online order, simplicity and security are their foremost requirements. To attract more online shoppers, you must provide a seamless payment process for your site. People want a safe and simple way to make purchases. Here’re some ideas you can implement:
Accepting multiple payment methods to give convenience for customers, such as debit card, credit card, mobile payment, buy-now-pay-later, etc.
Attach a checkout button that is easily accessible to take customers straight to their cart with order details, delivery information, and point of sale.
Show the real-time availability of each product during customer browsing.
Display a confirmation page when customers have placed the order successfully.
You can easily set up and manage these options with a point-of-sale feature inside the management software. It helps you process payments smoothly and control other actions, such as order returns or exchanges.
2. Customer relationship management (CRM)
Managing customer data is essential to understand their behaviors and preferences, improve your products and services, and retain existing customers. To record and analyze customer data, you need a CRM feature in your management software package. An effective CRM allows you to find insights about customers, such as your main targets, their pain points, what they like and dislike, etc. From there, you can design suitable products and marketing programs that boost sales and foster customer trust and loyalty.
CRM helps you stay connected with customers via many functions like audience segmentation, scheduled messaging, and customer service channels (ticketing systems or live chats). In this way, you can maintain your customer contacts, plan regular messaging to customers, and keep them engaged.
3. Project Management
For startups and small businesses, the project management feature is essential to organize and control a multitasking team. This system allows you to set up detailed objectives, assign tasks suitable for each employee’s workload, and track their progress in real time. It makes the workflows more dynamic, creates an agile working approach, and prevents bottlenecks in teamwork. This is especially useful if you have multiple projects at the same time, or if you have different teams overlap in their tasks.
For instance, the marketing has to secure qualified leads for the sales team to proceed with their work. A project management system can offer tools to assign, re-assign, add resources, and close projects without confusion.
4. Inventory Management
If you’re an online merchant, inventory management is your business backbone. With the right software to control stock, you can solve many problems and open up sales opportunities as well. Here are some aspects that a good system is capable of:
SKUs management: You should be able to add, edit, and sync product information with sales and vendor data. Although being a startup, think about if the system can scale with you if you expand. Ideally, it should allow you to easily add unlimited SKUs and control them.
Real-time stock tracking: The system can give you visibility on your inventory level and any stock allocations or movements. It means sales orders are synced with stock data, and goods purchased from suppliers are added once they’re scanned in the warehouse. Any stock returns and exchanges must reflect in the inventory position as well.
Low stock alerts and reorder points: The system should let you set automatic alerts when your stock reaches a specific level, and assist you to quickly generate a PO for that alert.
Procurement and supplier management: Controlling your purchasing is an important aspect of stock management. This feature digitizes various procurement activities, such as:
Create and autofill your purchase orders, and add any quantity discounts
Centralize all supplier details and track their performance based on product quality, price, delivery speed, and customer support.
View your purchase history with each vendor
5. Performance Metric Monitor
When you open your online store, tracking key performance metrics from the start is critical. The management software should make it easy for you to measure your results, such as site traffic, conversion rate, average order value, inventory turnover rate, and many more.
These metrics help you understand how you are performing and give you insights into different aspects that need improvement. Therefore, you should look for software that has a built-in analytics dashboard that allows you to create customized reports to investigate deeper. Filter by criteria to help you identify the data you need and address any trends or issues. Analyzing data is the key to understanding your business and customers to make the right decisions for your startup growth.
In Conclusion
Business management software is essential for online businesses to organize teams, save time, reduce costs, and boost morale. Adopting the modern technology solution can help you operate your store smoothly, and quickly determine any threats or opportunities for improvement across all aspects: customer experience, inventory management, employee retention, and vendor relationships.
Like most business owners, you’re always looking for ways to make your operations more efficient. One way to do that is using a transport management system (TMS). This software can help you streamline your transportation processes. This makes it easier and faster to get goods from your facilities to their destination. To help you understand the importance of a TMS, we’ve joined forces with TransVirtual to discuss the seven benefits of integrating a transport management system into your business.
Below are the seven benefits of using a transport management system.
Automate Routing
One of the significant advantages of having a transport management system is the ability to automate routing. This can save your drivers and dispatchers a lot of time when it comes to planning their trips, as it will automatically generate routes for them. You must input the relevant information into the system, such as the starting point, destination, and any stops along the way. The TMS will then use this information to calculate the most efficient route for your driver to take. This can be a huge timesaver, particularly if you have a large fleet or if your drivers are constantly on the move.
Improve Tracking
A transport management system can help you keep track of your vehicles and drivers in real-time. It allows you to monitor their whereabouts and get detailed insights into their routes. This can be useful for a number of reasons. These include ensuring that vehicles are being used efficiently, investigating any delays or accidents, and tracking driver performance. In addition, by using this system, you can improve the efficiency of your operation and ensure that you are meeting all of your legal obligations.
Enhance Communication
This system can help to facilitate communication between you and your drivers. This can be particularly useful if you have a large fleet and need to keep track of their whereabouts. With this, you can send out messages to keep them updated on their routes and provide them with text alerts when they’ve reached specific locations. This can help to ensure that your drivers are always aware of changes in the schedule and can plan accordingly. In addition, a TMS can also help to reduce the chances of miscommunication between you and your drivers.
Optimize Scheduling
Automating your routine processes is essential for keeping your business running smoothly. But what about scheduling? This system can also help you optimize scheduling, ensuring that your deliveries and pickups are always on time. With this system, you can schedule deliveries and pickups in advance, so you never have to worry about being late. In addition, the system can help you keep track of your fleet’s whereabouts so you always know where your assets are. As a result, a transport management system can save you both time and money.
Reduce Costs
Any business owner knows that reducing costs is essential to remaining profitable. There are a variety of ways to cut costs, but one often overlooked method is through optimised transport management. Businesses can use this system to minimise fuel expenses, labour costs, and other operational costs. The transport management system creates efficient routes and schedules that make the best use of resources. As a result, businesses can save money and improve their bottom line.
Improve Customer Service
Regarding customer service, one of the most essential factors is timely delivery. If you can’t get your product to your customers when they need it, they’ll likely go elsewhere. That’s where a transport management system comes in. By having a system in place to track and manage your deliveries, you can be sure that your products will reach their destinations on time and in the condition they were sent. This not only benefits your customers but also helps to build trust and loyalty. In today’s competitive marketplace, that’s more important than ever.
Enhance Security
As your business grows, so does the need for security. It can help to enhance safety by providing features such as remote access control systems and GPS tracking. With these tools, you can keep an eye on your business from anywhere in the world. You can also track your employees’ comings and goings, ensuring everyone is where they’re supposed to be. In addition, a TMS can help to deter crime by making it more difficult for thieves to break into your business. Finally, it can help give you peace of mind and protect your business by enhancing security.
Conclusion
A transport management system is a powerful tool that can improve your business in various ways. It can help to reduce costs, enhance communication between you and your drivers, optimize scheduling, improve customer service, and enhance security. By investing in the right TMS, you’ll be able to maximize efficiency while meeting all of your business needs. In addition, with a transport management system in place, you’ll be able to rest easy knowing that your business is running smoothly and securely.
