For eCommerce businesses or retailers that sell both online and in stores, order management provides a certain set of challenges. You have to be able to deliver goods to your customers where they want it and when they want it.
Whether you have physical inventory or you fulfill orders from your stores, you need to know exactly where your inventory is and the best way to get a certain product from point A to point B. If you’re looking for an eCommerce platform that simplifies the shipping process and ensures customers receive products in a timely manner, you may want to consider Magento Order Management. Mastering your Magento order management strategy will help you do all of that and much more.
If you can improve your order management strategy, you can expect to see revenue growth in a number of ways. For one, it will help improve customer satisfaction ratings by eliminating common consumer complaints surrounding slow shipping, mislabeled items (like listing a product as in-stock when it’s really out of stock) or sending consumers the wrong item.
A strong order management strategy helps grow your bottom line by improving customer loyalty, which translates to big gains; loyal customers provide a return that is 10 times higher than their initial transaction.
If you already use Magento for your online store, you’re well on your way to a solid order management approach. Magento is known for having some of the most powerful built-in tools for eCommerce retailers. It’s also an open-source software, so companies can build strong, data-driven eCommerce solutions that enhance performance.
We’ve identified some of the best ways to leverage Magento Order Management to simplify the shopping experience and drive customer loyalty.
- Omnichannel Fulfillment — This phrase isn’t just an eCommerce buzzword; it’s also something you should be implementing stat. Omnichannel fulfillment refers to the ability to buy online and pick up in store, ship to store or ship from store. According to Magento, 61 percent of customers prefer to buy online and pick up in store, and 86 percent want the ability to return eCommerce orders to a retail location. Brick-and-click businesses can leverage Magento’s smart fulfillment tools to figure out the best logistics paths. The tool also lets you determine the best location for fulfillment, such as the store, warehouse or drop-shipper, which equals faster shipping and happier customers. It also means lower costs for you, so you can allocate more time for your customer loyalty efforts.
- Centralized Inventory — One of the most important things for omnichannel businesses is streamlining inventory to ensure that all items, whether stocked in your store or housed in a warehouse, are accounted for properly. What’s more, the tool allows you to clue customers into what’s in stock and what’s not for a better overall customer experience. Magento also allows you to track inventory at any node — stores, vendors, etc. — and see in-transit inventory so that you can predict when you or your customer will receive certain merchandise.
- Customer Service — Good customer service isn’t just a smart idea; it’s also a profitable one. Nearly two-thirds of all consumers commit to a brand because of strong customer service, and nearly 90 percent switched to a competitor after receiving bad service. Magento has helpful customer service tools that help ensure that your clientele is pleased with every step of the buying journey, whether they actually reach out to your support team or not. For example, you can easily provide order details and status updates, so they know exactly when to expect their order. You also want to make sure you’re using Magento’s appeasements and refunds tools whenever possible.
- Metrics and Data — There is perhaps no tool more valuable in today’s eCommerce landscape than analytics. Be sure to boost your store’s performance and drive sales with crucial Magento analytics tools like Springbot. Our Magento integrations are great for any small- or medium-sized business that wants to improve order management and customer loyalty. We provide easy-to-interpret data that you can use to create a better, more tailored experience for your current and potential customers.
Interested in learning how you can leverage Magento to make your business stand out in a crowd? We’re on hand to help you find the right tools to accomplish all of your goals, whether it be to curb cart abandonment, create more targeted ad campaigns or boost customer loyalty.