Matthew shares the most important features to look for in a CRM platform.
He also provides three key tips for new businesses, predictions for the future of eCommerce, and more!
Meet Matthew Martorano, CEO, and founder of Konnektive. With over 18 years of experience in the eCommerce space, he shares his insights on how to achieve online success.
Matthew emphasizes that a quality CRM offers a variety of important features, each of which create a smooth, user-friendly experience for your business and customers alike.
Here are his 6 top tips:
Your platform should never keep customers waiting. “For every four seconds a customer has to wait, your conversion rate drops by 50%,” Matthew explains. Because Konnektive handles millions of transactions each month for numerous clients, speed is a major priority for them.
Konnektive is completely cloud-based, Matthew explains. “We have technologies built into the system that no other platforms have to truly manage every customer interaction,” he states. This allows for a fast and smooth performance that gives customers the experience they expect and demand. “We’ve never reached the point where a client hasn’t been able to scale,” Matthew says. “The system’s always been incredibly fast.”
2. Top-tier customer service
Don’t fly solo. Instead, choose a CRM partner who will quickly respond to questions, as well as willingly walk you through the implementation of the platform you’ve chosen.
With Konnektive, every client receives a dedicated account manager who trains them on using the platform, answer questions, and help them fully build out and integrate their chosen system. With many CRMs, clients may not receive as much individualized help when it comes to navigating the system and fully utilizing the features they’ve purchased, Matthew notes
3. Ease of use
Your CRM platform needs to be intuitive and should provide a user-friendly way to design your website, build your sales funnel, and manage all other business functions. Traditionally, when a customer had a product idea, they’d contract with a web designer and programmer to design and integrate their pages into the back end of their website. This process could drag on for a month.
Today, the best CRM systems offer a better experience. With Konnektive’s system, for instance, customers can instantly test out design ideas, and even use drag-and-drop technology to easily launch their campaign in as little as 30 or 40 minutes, says Matthew.
Make sure your platform gives you the option to scale. Consider which integrations, apps, and plug-ins it will be able to integrate so you can adapt your business as needed. By offering over 500 possible integrations, Konnektive provides access to business processes that the client may not have yet, Matthew notes. Businesses have the ability to utilize any type of billing model they want, creating multiple product tiers, special deals, or subscriptions and easily managing them all through the same platform.
5. Reporting features
Choose a platform that gives you all the data and analysis you need to make smart business decisions. Your platform should be letting you know where your traffic is coming from, as well as what promotions are getting the best conversions. Reporting features are the key to future growth!
You want a CRM that will continue responding to and redefining your market’s needs. For example, Konnektive has developed FunnelConnect to make it easier to build a sales funnel that’s entirely integrated with the transaction processing platform, the fulfillment side, and other business components.
If you’re launching a business, make sure you’re well funded first, Matthew emphasizes. “You can’t come into business with a couple of thousand dollars and think you’re going to make millions,” he says. You need to have the initial investment that gives you the ability to scale while ultimately getting you the ROI you want.
You also need to understand your data. Konnektive's reporting and analytical tools will help you understand which traffic sources are working, how much revenue they’re generating, and where customer conversions are coming from. This allows you to analyze every element of the fulfillment side of your business. It breaks down every component of the process, from how long it takes for an order to reach the fulfillment company, to when it gets delivered. Because customers increasingly expect immediate gratification, fulfillment time is becoming more and more important.
Most importantly, make sure you have partners you can trust. Whenever you outsource a function, such as customer service, you need to be certain your partner is answering the phone and fulfilling their role with integrity. “Many people will fail within the first 90 days because they don’t have those business processes in place,” Matthew states. With Konnektive, clients tend to see a fairly high sales volume that starts quickly in those early days, all because the company helps them cover all those bases.
“The future of CRMs will be driven by the payment processors,” says Matthew. Today, a quality CRM needs to handle all of the non-traditional payment methods in use at the moment. For instance, Apple Pay is now used for many purposes aside from buying products from Apple. This means platforms need integrations with Apple Pay, as well as numerous other non-traditional options. About 80% of all sales today are done through a mobile phone, which often means consumers are using emerging payment methods.
E-commerce has evolved dramatically over the past ten years, and businesses will continue finding diverse new ways to sell to their customers, Matthew emphasizes.
“Being able to aggregate that all into one centralized location is monumentally important.”
Even if customers are dealing with multiple non-traditional payment options—say, ClickBank, Shopify, and Apple Pay— Konnektive can integrate and process them within one centralized location. This lets customers easily track and manage their affiliate marketing, as it generates metrics and KPIs for each payment source. Rather than using multiple platforms to manage each one separately (and then attempting to compare their metrics through separate reports), you can utilize a tool like Konnektive to streamline everything.
While working as a product marketer in 2001, Matthew realized that the various business units of his company weren’t operating efficiently. They were handling product fulfillment, quality assurance, and affiliate advertising, but they lacked cohesion between all of these functions. The unit that took orders had no connection with the one that processed transactions. Matthew had an epiphany: By merging all of these business units into one CRM (customer relationship management) platform, they could provide a much smoother experience for everyone involved. In 2010, they began offering Konnektive as a solution for other eCommerce businesses.
CEO – Founder Konnektive
Connect with Matt at firstname.lastname@example.org!