6 Ways Blockchain is Revolutionizing Customer Portal Solutions

Do you still think that blockchain is only for financial services?

If yes, you might not be paying attention to this technology’s implication in different sectors and its way of facilitating secure, efficient, and transparent data across the network.

The technology we are talking about has changed how we sell and share. It has transformed the process of verifying the authenticity of the information we rely on every single day.

Besides eCommerce selling, it has the potential to change the way customer portal solutions are looked at.

The most important requirement for a CRM client portal is data security. And blockchain is the only technology that assures it. The only one that can make the customers trust the brand without proof of credibility.

To understand how customer portal solutions can leverage blockchain, let us see what it brings to the table.

1.  Greater Visibility

Recently, we’ve come across a colossal trust issue relating to big tech companies. The illusion of transparency has made customers avoid sharing their data with businesses around.

Since blockchain depends on the visibility of data, it can foster trust among the customers. They can access their entire records, from transactions to personal details and orders. It would provide a real-time transaction-level assurance. For businesses like you, it would be easier to audit.

Suppose you’re in a supply chain business and have a CRM client portal equipped with blockchain technology. Your customers include different stakeholders, suppliers, and end-users.

As the transactions are transparent, the traceability of products and services is readily available. That means stakeholders can apply processes and relay the information to their customers. They don’t have to interact with you to retrieve the data. It’s readily available and is transparent.

This kind of transparency in customer portal solutions can further build your brand. It can leave a lasting impression on your customers.

2.  Robust Security

Security is another benefit that blockchain brings to customer portal solutions.

Generally, in cloud-based systems, security is in the outermost layer of the application. But in blockchain, safety is an integral part of the solution. Not only does it add protection to every piece of code, but it also provides a distributed architecture. That means the data is not stored in a central place; it is distributed across the network.

Since data is in fragments, hacking is next to impossible. Many even claim that hackers will never be able to break in.

So if you/your customers have important data on the portal solution, they can rest assured of its safety.

Besides, it would eliminate the risk associated with online transactions. Instead of going through the third-party providers to finish the transaction, the customer portal solutions can use blockchain to complete the payment transaction. It eliminates the presence of banks and other payment providers for a successful transaction.

3.  Enhanced Customer Privacy Control

Using customers’ private data for better advertisements and other purposes has become the topic of concern. The fear that data would be misused is why many users opt-out of using the customer portal solutions.

With blockchains, your CRM client portals would act as self-sovereign for customers. They would be the sole owner of their information. The control over how the information is used will lie in the hands of customers. They can decide what qualities they want to reveal and what they don’t.

Do you think that with this level of privacy, they will opt out?

Definitely, not!

Instead, you would see an increase in the number of use of customer portal solutions.

4.  User Engagement 

The way you interact with your customers defines the user experience. This applies to customer portal solutions too.

The data you share, the products and services you provide, and the ease of services reflect your customers’ satisfaction.

You would say that this is possible with a simple CRM client portal too. Then why blockchain?

It enables customers to share their data safely and soundly. This would make them engage more with the portal and you. As every customer would have access to a single block, it would eliminate the issues of obsolete/inaccurate data.

A unified picture of the customers can enable companies to provide better services. These insights about customers would help them engage effectively.

5.  Customer Loyalty

The simplest way to increase customer loyalty is better service. However, there are other ways to earn loyalty too. Blockchain provides customers with a decentralized wallet. Every time a customer purchases or uses an offer, points can be credited to them. They can store these points in one digital wallet and redeem them to make a transaction. This process through customer portal solutions will encourage more engagement.

This feature would turn your CRM client portal from data sharing to a customer retention tool.

6.  360 degree View

Combining blockchain with customer portal solutions can extend trust, transparency, and traceability in every customer interaction.

You would know all about your customers, staff, and the entire business flow. As it eliminates data duplication, you can enhance responsiveness. You can learn about your customer preferences in real time. It would be easy to provide services relevant to their needs. You can feed your customers with rich information.

Since data records are irreversible, it means no one can tamper with them. Besides, you can keep an eye on your staff’s actions. For example, if someone tried to delete a record, you would know. At first, it won’t allow it.

Further, loyalty programs can enhance the customer experience. Safety, security, and privacy will help you increase brand credibility.

Eventually, all the positivity around might result in more customers.

Industries that can Leverage Blockchain Equipped Portal Solutions

CRM client portals are not limited to eCommerce or education. They are essential for finance, transportation, non-profits, and more. Let us see what it would be like with advanced technology.

1.  Finance Industry

Security is of utmost importance in the finance sector. From personal details to a single transaction history could make a difference. And as blockchain provides robust security, it would ensure that no data is hacked or misplaced.

2.  Logistics Industry

There are a lot of vendors and staff involved in the process. Every vendor/supplier needs a detail of the products and supplies. For this, asking the other supplier about the quotes or information they can manipulate would not be the right way. Here’s when blockchain can help. Customers and suppliers can view the entire supply chain information without any disruptions or need to ask. Everything would be transparent.

3.  Non-Profit Organizations

Nonprofits consist of various stakeholders and members. There could be data which they don’t want others to access. For this, portals generally have role-based access. But still, there’s a privacy that every individual member expects.

Blockchain would make sure they get that privacy. Stakeholders and members can control what they share or want others in the same team to know.

This is not the end. Every business with customer portal solutions can benefit from blockchain technology.

Wrapping Up

The benefits of blockchain for customer portal solutions go far beyond our expectations. The quality of data insights it provides can eliminate the need for an intermediary data manager. Customers, without any concern, can engage and share their data.

In the near future, it would make the CRM client portal at the forefront of the business expansion. And it’s not just for B2C. It would even revolutionize B2B.

Summary

Blockchain – a simple technology that uses blocks that can revolutionize customer portal solutions. It can transform the CRM client portal into a business expansion tool. Learn more…