14th Nov 2022

A Digitally Enabled Modern Retail – The New Normal

We have observed many retailers going digital lately. Are they just following the trend, or is it the only way forward? When it comes to businesses, we have noticed a tremendous change in today’s world, particularly in the business sector and a significant role has been played there by digitalization. If we narrow it down, the same applies to digital transformation in the retail sector. You must be thinking about why digital transformation has become important for the retail sector lately. This blog is all about that.

The digital transformation in the retail sector of the MENA region alone will see eCommerce sales jump to $48.6 billion by end of 2022. If we see the global retail sales, the numbers skyrocket to $25.04 trillion in 2021, and this growth is expected to close at $26.7 trillion at the end of this year. Isn’t it huge? It is indeed.

Without a doubt, digitization is no longer a choice for businesses but a need to stay relevant in the market. Hence, Businesses need to alleviate problems that are getting in the way. Some of them are mentioned below:

· Disorganized lead generation: With lack of standardization around lead generation, it is one of the reasons for the sinking of the traditional sales teams.

· Performing tasks manually: Salespeople are unable to work at an adequate speed due to the splitting of information across disparate databases due to which a lot of work has to be done manually.

· Lack of synchronization among sales teams: Poor data organization prevents sales teams from working together and combining knowledge to increase their success rates.

· Lack of customer insights: Salespeople constantly struggle to get a 360-degree overview of their customers to personalize their customer interaction.

· Inaccurate sales forecasts: Incomplete and inaccurate data from historical archives and the current sales pipeline make it difficult to conduct accurate sales forecasts.

Introducing Microsoft Dynamics 365 – the secret to establishing a modernized retail

Whether a business operates online or through a third-party eCommerce platform, they need a robust management system. And if we talk about Microsoft Dynamics 365, it has many benefits for businesses from nurturing sales, building strong relationships with customers and accelerating the overall sales performance to sell at a large scale based on valuable insights.

We know that modern commerce is complex, and salespeople are continuously juggling their task of increasing sales and revenue. In this constant struggle for finding a holistic solution, here’s how Dynamics 365 Sales can help forward-looking retailers succeed.

Optimizes Sales Processes

D365 Sales helps you optimize your entire sales process while minimizing cumbersome tasks. It enables the sales teams with a unified platform, allowing them to easily share sales materials and embed Microsoft Teams chats for real-time collaboration.

Unified Platform

With Dynamics 365 Sales, you can simplify and manage your sales processes through a single platform. It has an intuitive interface which offers mobile apps for both iOS and Android while keeping the sales team updated with real-time notifications along with the flexibility of this platform, you can easily scale your business to its needs.

Better Customer Insights & Engagement

Digital technology has created numerous touchpoints for customers to browse, purchase and connect with retailers, this makes it important for retailers to have a system that offers a seamless experience for customers. Today, customers want personalized experiences as they want to feel valued.

Dynamics 365 Sales makes it easy for your teams to offer personalized experiences to shoppers through data extracted from comprehensive customer profiles including their shopping behaviour, desires and buying habits from one unified space.

Robust Reporting & Insights

D365 allows you to set up insightful dashboards comprising charts, graphs, and other statistics that help monitor KPIs with real-time visibility of sales performance. With the in-built feature, you can create a profile of your competitors which provides information on their strengths, weaknesses and sale opportunities.

Seamless Integration

D365 Sales enables smooth integration with other Microsoft products. With a platform such as D365, you can sync data and track emails while creating, updating and deleting within Outlook. It also allows you to run live Excel analytics within D365 Sales, or you can directly extract data to Excel sheets. As your company grows, you can easily integrate other Dynamics 365 applications, including D365 Customer Service, D365 Marketing and D365 Business Central for better operational efficiency and closing the gap between your business and prospects.

AI Forecasting

Dynamics 365 not only increases the accuracy of your forecasting with AI-powered forecasts but also provides better insights on achieving goals more efficiently. The Assistant feature in D365 constantly scans communications to track ongoing activities to keep you ahead of your day with “action cards” that are displayed in dashboards and records throughout the system. These two different types of cards; notifications and insights, assist users in providing reminders and alerts for upcoming activities and pending emails, to mention a few.

Apart from this, you can also gain insights by using AI-powered call intelligence and email engagement which helps you detect customer feelings and priorities and helps identify how they interact with the emails.

Grow and Scale Your Business in Digital Era

Microsoft Dynamics 365 Sales is a cloud-based CRM solution for retailers to bring digital transformation at every deal. Whether you are a B2B or B2C business, it enables your sales team to better understand your customers, transforms your sales experience and helps establish exceptional customer relationships. If you aspire to boost your retail business efficiency with Dynamics 365 Sales, Contact us at www.techvista.com, or @TechvistaSystems.