4 Ways In Which Effective Team Collaboration Helps eRetailers Increase Profits
Online shopping is a concept that has taken the retail landscape by storm in the past decade. Growing at a mindboggling rate, by the year 2022 e-commerce is slated to generate over 638 billion dollars as revenues in the United States alone . Many factors contribute to the growing popularity of virtual spending including easier access to a large array of merchandise as well as a more intimate shopping experience from the comfort of one’s living room rather than having to jostle millions of shoppers at a mall. However, if e-commerce setups wish to retain their place in the sun for many more decades to come, they need to start focusing on a blind spot that has been ignored for far too long – internal communication and its importance in increasing productivity.
E-commerce may appear to be simple and straightforward as an industry, but in reality, it is a complex web of specialized functions that need to run together like clockwork to ensure that customers attain maximum bang for their buck. Transactions that appear to be seamless on the surface, in fact, involve many departments working synchronously in the background. From the moment customers access a website, select a particular product for purchase, and place their order to the moment they receive it in their mail, a chain of interconnected people works diligently behind the scenes to deliver impeccable service. One of the most critical pieces of this finely tuned machinery is a robust internal communication system. With such an intricately aligned organization structure, a venture that places a high premium on team collaboration and communication is bound to be way more successful than others. Here are a few aspects of a communication and collaboration strategy that makes some e-retailers stand out in a crowd:
1. Real-Time Communication – Nothing hurts an e-retailer more than an inability to meet the demand due to insufficient inventory. A communication breakdown can lead to just that. A supplier’s unawareness of dwindling stocks and a market analyst’s failure to communicate a potential escalation in demand are all fallouts of missing communication links that exponentially increase the likelihood of a supply deficit. Information exchange in real time between internal arms like market analysis, customer care, logistics, and supply chain management can be instrumental in avoiding losses and making sure that your customers get what they desire on time.
2. Transparency – Being transparent works like a charm when it comes to engaging your workforce and increasing their efficiency. Latest product catalogs, customer policies, ongoing offers, financial status of the venture and other similar pieces of information should be made readily accessible to employees. Engaged and informed employees are much more productive than others. For instance, front-line executives who answer customer queries regularly will be able to do a much better job if they were clued in at all times. A well-informed and articulate representative can leave a priceless impression and help you gain customer loyalty.
3. Constructive Feedback – A sophisticated, app-based communication system can work as an active feedback mechanism to capture and discuss internal opinions. These employee inputs can sometimes prove to be very beneficial in plugging gaps in flawed processes, therefore improving overall competence. A team app can be used as a forum to exchange solutions for common work-related holdups. By collaborating and learning from others’ experiences, employees can save a lot of time trying to reinvent the wheel.
4. Employee Retention – With increased competition in the e-commerce space there also comes an increased risk of losing your most valuable employees to your competitors. To prevent such an event, it is essential to keep your employees emotionally connected to the organization through a strong communications framework. Employees with strong interpersonal connections within the company are less likely to leave even when promised a higher pay packet.
If you are a player in the e-commerce industry, it is a good idea to consider renovating your internal communications network by introducing top-notch mobile application-based tools like the ones offered by Office Curry. Strengthening your internal communication strategy through the introduction of such state-of-the-art tools will ensure that you stay in the game for years to come.