CRM, POS, CXM & What They Are

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Like most cannabis companies you’re probably using a POS (point of sale) and CRM’s (customer relationship management) to increase customer satisfaction and revenue.

 

These platforms help to increase the profitability and effectiveness of your business. However, with evolving technology, newer systems bring a more comprehensive analysis which helps you make smarter business decisions.

 

There is an improved way to analyze your sales and build relationships with lasting customers.

 

Customer Experience Management (CXM) platforms you’re able to automatically collect relevant data about customers experiences, preferences, and requests to understand and meet customers needs.

 

POS or Point of Sale collects the products, time and place of a purchase.This information is valuable, although it does not tell you anything about the experience your customer is having .

 

A CRM or Customer Relationship Management platform collects data about your customers i.e., their phone numbers, and emails. The CRM also can automatically generate emails or reminders. You use the information from the CRM to make business decisions to improve your relationship with your customers.With stronger relationships you also increase your overall revenue .

 

Both of these platforms together collect great quantitative data but lack qualitative data that is needed to improve customer experience in an efficient and timely manner.

 

CRM’s capture and manage only a limited amount of customer data. The depth and intimacy of dynamic customer experiences require a more comprehensive approach to information. They require CXM — customer experience management — to ensure better strategy, more relevant experiences, and a critical competitive edge.

 

 

That’s why we created RipeMetrics, the world’s first CXM for the cannabis industry

 

CXM or Customer Experience Management platforms enable you to develop and build meaningful relationships with your customers. This technology is an automated system utilizing actionable market research and feedback management to amplify customer retention.

 

CXM differs with CRM in that it makes use of the CRM and POS data and attempts to improve customer experiences.

 

With a CXM you can chat directly with a customer in real time, this unique experience allows you to make specific improvements while repairing a relationship with a customer who otherwise may have left your business.

 

It costs roughly 5-10 times more to acquire a new customer than to keep an existing one. These stats make a strong case for a greater focus on ensuring the happiness and loyalty of your existing customers.

 

CRM and POS platforms are limited and incomplete. Together they work to improve customer relationships but only CXM takes a customer focused approach to improving your business.

 

CXM provides data that can predict customers behavior enabling you to take proactive actions in real time to improve your business and retain more customers.

 

Investing in a customer experience management platform will and referral rates, improve:

    

  • Increase retention
  • Boost referral rates
  • Promote efficiency
  • Improve output
  • Raise profits

 We know staying on top of new technology can make the difference and CXM creates that competitive advantage, why wouldn’t you invest in it?

 

RipeMetrics is the premiere CXM for the cannabis industry. Sign up for a demo today to discover how RipeMetrics can help you on your journey to build a world class Cannabis Customer Experience.

RipeMetrics can Help you on your Journey to Build a World Class Cannabis Customer Experience

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