What Type of Businesses Benefit from Commerce Powered CRM

The digital landscape has undergone a seismic shift in recent years, with the COVID-19 pandemic accelerating a decade's worth of innovation and change. This transformation has made commerce powered CRM not just an option but a necessity for businesses aiming to thrive in the new normal. Drawing insights from experts in the field, it's clear that while every business focused on providing exceptional service can benefit from a comprehensive CRM system, certain types of businesses stand to gain significantly more.

Let's explore which businesses can best leverage commerce powered CRM, particularly with solutions like CommercePro, and how it bridges the gap between traditional operations and the demands of modern commerce.

B2B Businesses wanting to provide a B2C Purchase Experience

The evolution of customer expectations, fueled by seamless B2C online experiences, has led B2B customers to seek similar conveniences. They desire the ability to transact online, access self-service options, and bypass the traditional salesperson whenever possible. Commerce powered CRM systems, especially those that integrate deeply with eCommerce platforms and payment systems, are perfectly poised to meet these needs.

By facilitating smoother and faster transactions, businesses that provide wholesale or supply parts for equipment, for example, can greatly benefit from allowing customers to self-service. This not only enhances the customer experience but also streamlines the sales process, making it more efficient for both the provider and the customer.

Businesses Focused on Reducing Transaction Friction

Any business aiming to minimize the friction involved in transacting with customers will find immense value in commerce powered CRM solutions. Integrating product selection, payment processing, and backend systems into one cohesive platform not only boosts conversion rates but also simplifies reconciliation processes. With the majority of global invoicing still reliant on outdated methods like paper invoices, moving to an integrated CRM and commerce system can significantly reduce downstream friction, add certainty to revenue forecasts, and improve overall operational efficiency.

Companies Looking to Get Paid Faster

The delay between issuing invoices and receiving payments can hinder a business's cash flow and growth potential. Commerce powered CRM systems expedite this process by enabling electronic invoicing and direct payments, thereby ensuring that businesses get paid up to three times faster than traditional methods. This acceleration of payment processing is crucial for maintaining healthy cash flow and supporting business expansion.

Subscription-Based Models and Recurring Payments

Businesses that operate on subscription-based models or manage recurring payments stand to benefit greatly from commerce powered CRM systems. These systems, equipped with modern payment collection tools like Stripe Billing, offer features such as automatic credit card updates and smart payment retries. This not only reduces the manual effort required to maintain subscriber accounts but also ensures a steady and reliable revenue stream.

Modernizing Operations Across Various Industries

The push towards digital transformation is not limited to specific sectors. Businesses across a wide range of industries, including professional services, consulting, coaching, events, and even construction, can leverage commerce powered CRM to modernize their operations. The ability to streamline processes, from customer acquisition through payment collection, is a universal need that these systems address effectively.

These insights have been gathered from our webinar with leading commerce experts from Stripe, HubSpot and Engaging Partners. Watch more at: Unlock the power of your business with
Commerce Powered CRM