5 Easy Ways to Generate Income With Your ERP System
In addition to supporting your business, every ERP system should have capabilities that help you build your business. Here are five features of great ERP systems that you can use to drive traffic to your store, add customers, and build orders.
Cross-Sell / Upsell
When a customer views or orders any item, this feature provides an alternate item or additional item to complement the one originally viewed. When used on an eCommerce site, items are displayed to the customers. When used with a POS or other order entry system, items are displayed to the customer service rep to suggest to the customer.
But don’t stop there! Make sure the suggestions make sense. For example, are you showing items that you have in stock? Are you grouping related items by the reason they are related?
Use loyalty programs to reward your loyal customers and offer free or discounted items and other incentives. For example, you could offer points to customers for many activities that build your business, such as these:
- Each dollar spent
- Placing the first order or creating an account
- Buying a specific item
- Spending a minimum amount
- Ordering during specific times
- Referring friends to your website
- Joining a list
- Ordering frequently
- Buying extra points
Customers can redeem points in the form of free merchandise, dollar amounts, merchandise credit, or shipping discounts. Using a Loyalty Program not only generates additional income, but is a way to express appreciation to your customers.
Promotions provide incentives to customers for ordering, or for increasing the size of their order. For example, you might include a free item with every order over $100. Promotions can also be used to entice customers to buy from other product categories they have not tried yet, or to test prices and new product offerings.
Installment Billing allows you to make your products available immediately to your customers while accepting payments over time. Installment Billing can be used for subscriptions or large purchases, which customers might otherwise put off indefinitely. You can even link an installment plan to a promotion so your customers can take advantage of special purchasing opportunities before an offer expires. Installment Billing is the perfect tool for providing your customers with a personalized and professional shopping experience.
Email Marketing provides an efficient way to communicate with your customers through your ERP system. Email marketing is used to let your customers know about new products and promotions, and to drive traffic to your website with newsletters, reminders, and other targeted marketing efforts via Email. Effective Email marketing pieces include the “abandoned cart reminder” and the “we’re sorry so here is a discount.” These types of emails are known to catch customers’ attention by letting them know that you care about them and their business personally (in the context of previous interaction with them, as opposed to a general “cold” marketing effort).
Click here for Email marketing messages every ERP system should have.