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The banking industry is one of the most conservative and competitive, yet widely used industries. It involves massive customer interactions, transactions and documentation; the cost to serve customers and their satisfaction are the top concerns this industry faces.

Realizing this, banks are focusing on the future technologies like RPA, AI, Chatbots to create better engagement with customers for improving profits.

Studies reveal that the next-generation of financial institutions have started to realize that automation is the key to keeping up with customers' queries 24/7.

When it comes to displaying 'product information,' consumers demand richness and consistency from the retailers. As a merchant or a retailer, it is vital to meet their expectations if you desire to foothold yourself among the fierce competition.

This is where the concept of catalog management comes in. It is the tactical procedure to manage your product catalog in a way to make sure that the data quality of your products across all your sales channels are well-maintained.

Generally, it includes how your product data is organized, standardized, and published.

No matter if your product data is from your suppliers or your own, it has to be properly organized and managed to ensure accuracy.

How do you calculate the ROI of your online catalogs right at the time of planning? Well, this requires proper metrics. If you aren't aware of the actual aspects, it can get perplexing.

Undeniably, many retailers use e-catalogs to send their product information to their prospective customers. However, do you think that is enough to make their customers make a buying decision?

In a word, the answer is no. So, what else can be done to make the online catalog sell better for them. Well, you have to build a strategy around your catalogues to make them sell better for you. These include:
 

For retailers, customer engagement has been a huge issue for years. All retailers seem to have the same products with similar price points. The complexity adds up when a few e-commerce giants start selling the same products for a much lower price and deliver them to the customers' premises.

Brand loyalty is another big issue that retailers face. Customers keep switching between online and in-store channels with each purchase. They decide based on what they feel is convenient for them at that particular time.

The customers also go in for the lowest price when they believe the product is a commodity and they know what they want.

Secondary sales apps have come to limelight in recent years, and there are valid reasons for your organization to adopt it. It helps to track the sales representatives accurately and bridges the gap by notifying the team about discrepancies.

Let's unveil the issues that businesses generally have and learn how sales app could solve those problems.

Issues

When it comes to tracking and managing huge workforces, especially in companies with large sales teams. They tend to have lots of variables, which usually include: