Merchants and traders have been practicing customer relationships for centuries. Their business was built on trust. They could customize the products and all aspects of delivery and payment to suit the requirements of their customers. They paid personal attention to their customers, knew details regarding their customers' tastes and preferences, and had a personal rapport with most of them. In many cases, the interaction transcended the commercial transaction and involved social interactions.
Even today, this kind of relationship exists between customers and retailers, craftsmen, artisans – essentially in markets that are traditional, small, and classified as pre-industries markets.
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COMPANY PROFILE
Design and Deliver
Mr. Rahul Arora
Founder and Managing Director
A. Profile of the Company
1. Nature of the organisation and its business
Website: http://www.designanddeliver.co.in/
Industries: Corporate and Promotional Gifting
Headquarters: New Delhi, Delhi
Type: Public Company
Founded: 2013
Specialities: T-SHIRTS,UMBRELLAS, canopy, standees, promo table, Bags, Wall
clocks, Table Clocks, Pen drives, Leather products, Backpacks, office and desk
items, Trophies, Awards, Mementos, Pens, Key chains, Medals, Coffee Mugs,
Diaries & Calendars, Gift Sets and accessories.
Established in the year 2014, we, “Design And Deliver”, are counted amongst the leading
organizations engaged in manufacturing and supplying a wide array of Corporate and
Promotional Gifts to our esteemed customers. Our product includes Promotional Gifts,
Corporate Gifts, Corporate Trophies and Mementos and Many more gift items. All products
are designed, production Executed only by professionals and quality checked in harmony
with quality standards recommended only by experts.
With the care of skilful professionals, we have made an advanced infrastructure which is
empowered with contemporary facility and modern equipment. Our professionals are highly
precious amid clients for their friendly nature dealing and satisfying their exact need. They
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specialize in customizing these as per the specification requirements of the clients. Owing to
their high-grade quality, all these products have find their application at residential as well as
commercial sectors.
Headed by our mentor, ‘Mr. Rahul Arora’, the organization has achieved unconquerable
heights. His effective man management skills and motivation has enabled us to offer
impeccable products and services to our clients. In order to achieve complete client
satisfaction, all the orders are delivered within the stipulated time frame.
Experienced R & D Department Good Financial Position & TQM
Large Product Line Large Production Capacity
Provide Customized Solutions
DESIGN AND DELIVER is the leading manufacturer of Corporate gifts & Promotional Gifts
based in New Delhi. Whether you need to source gifts for an event, incentives for staff, long
service awards, gifts for your customers or bespoke awards, we have a great range of
promotional ideas that can be branded and delivered quickly backed up by superb service.
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2. Company’s vision & mission.
QUALITY CHECK
We understand how important quality is for every client. To ensure quality, all our products
are checked to meet client's requirements by our in-house team of engraver.
CUSTOMIZATION
We understand the need of the client and customize the Products Accordingly.
12X7 SUPPORT
Our Team Available from Monday Morning to Saturday Evening to help our Clients.
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QUICK DELIVERY
We understand the importance of time. our team manage time well at the workplace to
achieve targets and finishes work within the assigned time ahead of deadline and make a
mark of their own.
EXCLUSIVINESS IN THE PRODUCTS
Our products speak for themselves. We try to bring something new in our products.
uniqueness of our products differentiates us from the other vendors. there is seperate team to
work on the exclusivity in the products.
ONE END SOLUTION
We provide a complete solution of all the corporate gift items, promotional gift items and
festival gift items under one roof.
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3. Product range of the company.
a. CUSTOMISED T-SHIRTS
Round neck T-shirts
Collar T-shirt
Cotton T-shirts
Polo T-shirts
Matty T-shirts
Polyester T-shirts
Dry-Fit T-shirts
b. STANDEES
Roll-up standees
Iron standees
c. KEYCHAINS
PVCkeychains
MDF keychains
Wooden keychains
Leather keychains
Metal keychains
Acrylic keychains
Silicon keychains
d. DIGITAL CLOCKS
Digital Alarm clock
Wooden Digital clock
Digital clock + Bluetooth speaker
Color changing clock
e. WALL CLOCKS
Wooden wall clock
Promotional wall clock
f. PHOTOFRAMES
Customized photo frames
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g. PENDRIVES
Pendrive with opener
Compact Pendrive
Metal Pendrive
Customized Pendrive
Band Pendrive
Card Shape Pendrive
Branding Pendrive
h. CAPS
Stylish Cap
Customized Cap
Promotional Cap
i. MUGS
Heart Handle Mug
Inside Colour Mug
Golden Mug
Patch Mug
Bone China Mug
Mug with Spoon
Magic Mugs
Promotional Mugs
j. UMBRELLA
Inverted Umbrella
Colour Changing Umbrella
Transparent Umbrella
Fan Umbrella
LED Umbrella
Two fold Umbrella
Single fold Umbrella
k. TABLE LAMPS
Lamp with writing pad
Lamp with Pen Holder
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Lamp with Bluetooth speaker
LED Lamp with touch
Business Desk Lamp
Day And Night Color changing Lamp
Lamp cum torch
Foldable Lamp
l. LAPTOP BAGS
Bag Pack
Bag Pack in new style
Anti-Theft Bag
Laptop Bag
Leather Laptop Bag
m. GARDEN UMBRELLAS
6ft.
8ft.
With different variety in base.
n. PROMOTIONAL KIT
Customized promotional kit
o. BLUETOOTH SPEAKERS
LED Touch Bluetooth speaker
Bluetooth speaker with time, battery & TMP display
Flammable Bluetooth speaker
Water-proof Bluetooth Speaker
Glow Bluetooth Speaker
Oval shape Bluetooth Speaker
Bluetooth speaker with wireless charging
Bluetooth speaker with digital clock
p. SWEATSHIRTS
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4. Size (in terms of manpower & turnover) of organisation.
Company Size: 4-5 employees
5. Organisation structure of the company.
Board of Directors:
Managing Director
Mr. RAHUL ARORA
Ms. AARTI RANA
6. Present leadership/ interaction with people during the summer training.
The person with whom interaction was done during my internship:
Mr. Rahul Arora(Managing Director)
Ms. Aarti Rana(Managing Director)
7. Name of the firm/company along with address
Designand Deliver,
Office No.22 Csc No.4,
Pocket C-8 Sector-8
Rohini Delhi-110085 (India)
Tel: +91-9711339940
CIN: L14101UP1977PLC021546
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B. Organisational Culture
Our name says it all, "design and deliver". We customize quality thing and deliver it in time.
We always try to come up with exclusive items and innovation. We have always maintained
the quality and delivery. It is our promise of an excellent service and our commitment to
making your busy work life as stress-free as possible.
C. Environmental Analysis
OPPORTUNITIES AND THREATS
Under the guidance of our owner, Mr. Rahul Arora, we have developed a huge client base.
Our team members are highly experienced in their particular fields and they efficiently
manage, design and create excellent quality gifts items. Our manufacturing unit is outfitted
with ultra-modern machines and latest technologies. Our products are subjected to rigorous
testing procedure to offer our precious clients the best range of quality products.
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PROMOTIONAL TECHNIQUES
A company can employ various promotional techniques in order to communicate with the
target market, techniques that form the promotional mix.
Depending on the communication means, the promotional techniques can be:
A. Direct (personal) communication techniques – focused on creating a relationship
with each client (personal sales, direct marketing).
B. Indirect (non- personal) communication techniques – based on mass
communication, the message in identical for a high number of potential customers
(advertising, public relations, sales promotion).
Following, the main promotional techniques used by companies:
1. Advertising
Is a form of promoting the products, services and image of a company that is
addressed to large numbers of consumers, using the mass media. Depending on the
financing, there are:
Free advertising – is an informative communication that doesn't have a
sponsor. Focuses on reporting news or information concerning a company,
using mass media (press conferences, press releases).
Advertising – is paid by a sponsor, which is usually the company producing
the promoted goods. Its main characteristics are:
o It's a paid promotion technique
o The target market is scattered territorially
o The message is transmitted using mass media
o Is a non-personal communication technique
o The company paying for the advertising is usually identified in the
content of the message.
2. Public relations
Are a deliberate and planned effort of a company to communicate to various public
categories that might have an interest in the company's activities (customers,
investors, employees). The purpose of this in creating a favourable image and a trust
climate based on convenient mutual relations. Public relations use various
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communication channels, from personal channels to mass media. The differences
between public relations and advertising are:
Public relations use informative messages (company achievements, annual
reports, balance sheets)
Advertising calls to immediate action while public relations try to build
trust
Public relations actions are unique, while advertising can be repeated
Public relations can be achieved also through public dialogue.
3. Sales promotion
Uses a wide variety of instruments meant to lead the customer to an immediate
action regarding the purchase of a good or service. The main characteristics of sales
promotions are:
Offer an immediate advantage – a price discount, a higher quantity at the
same price, a free service, a contest.
Are exceptional – the advantage is not permanent, is available for only a
period of time
Call to immediate action – the fact that the offer is limited is highlited
Cause regrets – if the customer doesn't purchase the product.
All these are communicated in the message that joins the campaign.
The main sale promotion techniques are:
Price discounts
Offering a larger amount of the product at the same price
Group sales
Gifts
Loyalty gifts
Samples
Games, contests, raffles.
4. Point-of-sale promotions
Involve the usage of product display techniques, also supported by various audio-
video materials, which stimulate the purchasing process of the people visiting the
sale point. Even if the point-of-sale promotion is usually employed by detail sellers,
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it also has a wider application. Actually, each company subsidiary can be provided
with materials that inform the customer about the products and services he can
purchase in that place. These materials include:
Light boxes
Banners
Posters
Product display shelves
Specific lighting
Point-of-sale atmosphere
Audio-video messages
Promotional gifts (pens, lighters, bags, products printed with the company
brand).
5. Direct marketing
Is an interactive communication system with each consumer, using a distance
communication mean: catalogues, personal letters, and electronic catalogue. The
interactivity consists in the option the receiver has to order the product from the
catalogue, and have it delivered at home.
6. Personal sales
Involve the direct contact between a salesperson and a customer, usually at the
customer's residence or in public places. The selling process is joined by
promotional messages focused on the advantages offered by the product.
7. Promotional gifts
Are small presents printed with the company logo or product name, offered to the
customer in order to remind him of the product. For example: pens, lighters,
ashtrays, agendas.
8. Internet promotion
Consists in communication using web sites that will create the virtual company
image, present the products, and include press releases. The most used Internet
advertising means are: banners, pop-ups, newsletters, link to the company website.
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CUSTOMER RELATIONSHIP MANAGEMENT
CRM or Customer Relationship Management is a strategy for managing an organization‘s
relationships and interactions with customers and potential customers. A CRM system helps
companies stay connected to customers, streamline processes, and improve profitability.
Customer relationship management (CRM) is a term that refers to practices, strategies
and technologies that companies use to manage and analyse customer interactions and data
throughout the customer lifecycle, with the goal of improving customer service relationships
and assisting in customer retention and driving sales growth.
CRM as Technology:
This is a technology product, often in the cloud, that teams use to record, report and analyse
interactions between the company and users.
CRM as a Strategy:
This is a business philosophy about how relationships with customers and potential customers
should be managed.
CRM as a Process:
Think of this as the system a business .adopts to nurture and manage those relationships.
Benefits and Advantages of CRM:
i. Enhanced contact management
ii. Heightened productivity
iii. Empowered sales management
iv. Accurate sales forecasting
v. Reliable reporting
vi. Increased customer satisfaction and retention
vii. Boosted marketing RO!
viii. Enriched products and services
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Electronic customer relationship management (E-CRM):
E-CRM is the application of Internet-based technologies such as emails, websites, chat
rooms, forums and other channels to achieve CRM objectives. It is a well-structured and
coordinated process of CRM that automates the processes in marketing, sales and customer
service.
An effective E-CRM increases the efficiency of the processes as well as improves the
interactions with customers and enables businesses to customize products and services that
meet the customers’ individual needs.
Electronic customer relationship management provides an avenue for interactions between a
business, its customers and its employees through web-based technologies. The process
combines software, hardware, processes and management‘s commitments geared toward
supporting enterprise-wide CRM business strategies.
Electronic customer relationship management is motivated by easy Internet access through
various platforms and devices such as laptops, mobile devices, desktop PCs and TV sets. It is
not software, however, but rather the utilization of Web-based technologies to interact,
understand and ensure customer satisfaction.
An effective E-CRM system tracks a customer‘s history through multiple channels in real
time, creates and maintains an analytical database, and optimizes a customer‘s relation in the
three aspects of attraction, expansion and maintenance.
A typical E-CRM strategy involves collecting customer information, transaction history and
product information, click stream and contents information. It then analyses the customer
characteristics to give a transactional analysis consisting of the customer‘s profile and
transactional history, and an activity analysis consisting of exploratory activities showing the
customer‘s navigation, shopping cart, shopping pattern and more.
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The benefits of E-CRM:
i. Improved customer relations, service and support
ii. Matching the customers’ behaviour with suitable offers
iii. Increased customer satisfaction and loyalty
iv. Greater efficiency and cost reduction
v. Increased business revenue
Businesses that strategize and implement an E-CRM solution are able to align their processes
around technology to effectively deliver seamless, high-quality customer experience across
all channels. Customers have the power to help themselves through online personalized
services that are made available on demand. The Internet provides a simple and ideal medium
where customers can get information from websites, buy products and find answers using
FAQ sections, forums or chat rooms.
Components of Customer Relationship Management:
i. Sales Force Automation
ii. Lead Management.
iii. Customer Service
iv. Marketing
v. Workflow Automation
vi. Business Reporting
vii. Analytics
In addition to above components of CRM, electronic version of CRM is supported by:
i. Software
ii. Hardware
iii. Processes
iv. Management‘s commitments (geared toward supporting enterprise—wide
CRM business strategies)
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CRM PROCESS:
CRM refers to a process used by an organization learn more about its consumers and
improves marketing productivity. The goal of any business is to derive maximum
profitability from its customer base. The CRM value chain describes the process that a
business must have in place to gain the profitability wanted from customers. Five key steps
are necessary for the successful implementation of a CRM strategy, and are
commonly referred to as "the five step process for CRM".
Five step process for CRM:
i. Customer portfolio analysis- This first step involves analysis of your
organization‘s customer base to determine what groups and kinds of customers
are the most profitable. This will define your organization‘s target customer
base.
ii. Customer intimacy- the organization‘s target customer base. Relationship
building is predicated upon how well you know your customer and that
includes everything from buying habits to when their birthday is. Every
Customer
portfolio
analysis
Customer
intimacy
Process of CRM
Network
development
Value proposition
development
Customer
life cycle
management
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interaction with a customer is an opportunity to improve customer intimacy
and learn more about your target market. This step usually includes building a
customer database to store the gathered information.
iii. Network development- Network development refers to the identification and
development of strong relationships with organizations, networks and people
that are critical to your success in servicing your customers. These
relationships will include external partners such as suppliers and investors, as
well as internal partners, your employees.
iv. Value proposition development- This step builds on the information gathered
while working on customer intimacy. Once you have identified your target
customer, you can move forward and create a tailored value proposition for
this customer. In creating value for your customer, your value proposition
must also create value for your organization.
v. Customer life cycle management- It refers to continuing relationship you
maintain with your customer. Managing this cycle requires structure and
attention to process. Your organization must determine how it will organize
itself to effectively manage customer relationships (structure). As well,
thought must be given to determining how your organization will approach
customer acquisition and retention, as well as the performance measurement of
your CRM strategy (process).
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CRM AS STRATEGIC MARKETING TOOL:
Marketing is one of the new discoveries in business management. Of late, marketing has
come to occupy significant Position in the overall strategic studies. Various challenges are
emerging in marketing as well as new approaches are being made in its study to view its
different aspects of the many things it has been recently realized that customer is the most
important than any other marketing and its sustenance and retention is far more important
than any other marketing functions. CRM is one of the core are in marketing.
The major areas of CRM focus on:
i. Generation and servicing more loyal customers.
ii. Expansion of customer base.
iii. Reduction of advertising costs.
iv. Increase in profitable customers.
v. Ease in introduction of new products.
vi. Personal Information Gathering and Processing, Self—Service.
vii. CRM is the marketing management practice of identifying, attracting and
retaining the most valuable customer to sustain profitable growth.
viii. CRM is the process of making and keeping customers and maximizing their
profitability, behaviour and satisfaction.
ix. Today customer demand open equal access, real time specialized information,
convenient access, portability, process and logistics transparency, pricing
transparency, global pricing, ability to set prices, choices of distribution
channels and control over their information.
x. First time customer can become a repeat customer, thereafter a client, then an
advocate and finally one‘s partner in progress.
xi. Loyal customers always create a profit and also reduced operating cost,
increased purchases and give plenty of referrals.
xii. The realistic observation on customers that it costs ten times more to sell to
new customers than to sell to an existing one.
xiii. Existing customer deliver most of the revenues.
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TRENDS IN CRM:
i. Cloud-Based CRM
Cloud computing services continue to rise, and CRM has not been left behind
in this area. Cloud-based software is a cost-efficient means of gathering
customer data. Unlike before, on-site resources no longer need to scout for
leads to input into a system for future sales calls; sources of customer data are
already available. Cloud-based CRM will gain momentum as cloud-based
applications continue to progress.
ii. Social CRM
In 2008, Comcast was one of the first companies that took to twitter to interact
with customers, confirming the power of social CRM. Social media marketing
remains on an uptrend and companies are paying attention. Consumers are
empowered by social networking sites to influence product or brand image and
perception.
iii. Centralized Data
CRM will continue to aim to understand customers through extensive data
collection and analysis. By centralizing customer data through CRM,
businesses will be able to target and engage customers more effectively. CRM
data won‘t end with generating leads for the sales team but will be a
continuing process that also includes maintaining relationships with a growing
customer base.
iv. Mobility
Customers are no longer bound to PCs and are constantly accessing data on the
go. Frontline employees and customer service resources will increasingly be
empowered by mobile devices for support. On the other side of the coin,
customer perception will also be shaped not only by real world involvement,
but also by online and mobile experiences.
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v. Flexibility
In 2004, Sugar CRM was launched as a CRM vendor in open source.
Flexibility for CRM users is key because it allows them to customize the
software to meet their needs. Ease of integration and multichannel publishing
are key corporate considerations. As a result, a flexible and accessible CRM
platform is becoming increasingly important for users.
vi. Crowdsourcing
With customers gaining voice through social media, enterprises are
increasingly able take advantage of crowdsourcing for business improvements.
Tapping current customers for fresh ideas, solutions and expectations can help
employees across an organisation provide the innovation and interactive
relationship that a growing number of customers now expect. This means that
CRM will no longer be just for lead generation and marketing, it will also
provide a source for new innovation.
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COMMUNICATION CHANNELS FOR CRM:
In any B2C business’s Marketing department based on direct communication within the
customers the Marketing Manager manages the user acquisition channels. Moreover, the
Customer Relationships Manager or CRM Manager manages the communication channels
within the customers and final users with the final objective to increase user retention and
reduce customer churn.
Furthermore, the CRM Manager should know all existing user communication channels, their
context, objectives to achieve with each of them and how they are measured aligning them
with the company’s marketing strategy.
The main contexts for the communication with the customers are engagement, customer
support and communications for the customer lifecycle management.
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Customer communication channels for engagement
While the product team is mainly responsible for achieving engagement, the CRM Manager
could design different strategies to achieve increases in engagement through the use of
different communication channels. These strategies should also be aligned with Product
and Marketing strategies. For example, a newsletter can be used to inform customers about a
product update, a push notification could include a promotion code or the company could use
their blog or social networks to write about an event article for customers.
The main objectives for these communication channels are:
i. Keep customers engaged.
ii. Getting customers to come back.
Metrics to evaluate these communication channels could be: number of reactivations, %
reactivations by channel, open rate, clicks rate, etc. For example, with these metrics we
could validate that 20% of our customers are repeating purchases through promotions
published on the blog or that our customers are more involved interacting through push
notifications rather than social networks.
Customer communication channels for the customer lifecycle.
These communication channels are used to optimize customer lifecycle. The CRM Manager
is responsible for defining the appropiate communications at the right time into the
customer’s life to optimise the conversion funnel. For example, when doing an online
purchase you should receive an email confirmation with all purchase details or when you are
experiencing a product for the first time you should receive different types of messages in
order to improve your onboarding experience.
All of these communications are used to:
i. Keep customers engaged.
ii. Get customers not to leave.
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And they could be evaluated through the following metrics: session time, %drop-off by step,
etc. For example, with these analysis we could set up configurations to encourage purchases
at the moment the customer is more willing to buy.
Communication channels for customer support.
In addition, in any B2C business, there is always a customer support dedicated team, from
call center, email, chat, etc. CRM Manager is responsible for defining all channels and
customer care protocols for each case in order to align them with the company’s
communication strategy. For example, when you send an email request to Amazon you
instantly receive an “automatic-response” informing you when you will be supported. In a
call center you are guided through questions depending on your problem, etc.
Main objectives for customer support are:
i. Keep customers satisfied.
ii. Getting customers to come back and getting customers not to leave.
Possible measurement metrics could be: number of call entries, %entries by channel,
satisfaction surveys, etc. For example, we could define that less of 1% of our customers are
getting in touch with us to inform about problems or that 70% of the queries are related to
incidents or complaints.
It is not possible to classify a communication channel for a given context as any channel
could be used in any context and different purposes. For example, a push notification could
be used in the context of engagement, customer support and lifecycle management at the
same time. It is an issue for the CRM Manager to define the strategy and objectives for each
communication channel.
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CUSTOMER DATA MANAGEMENT:
Customer Data Management (also known as Customer Knowledge Management) is the way
in which organizations keep track of the information they have collected about their
customers. Capturing customer data and keeping it clean and up to date is a vital process
within the Customer Data Management strategy.
Importance
For organizations to harness the huge amounts of data that they now collect, a Customer Data
Management strategy is vital.
With more customer data than ever being created, it is vital to capture accurate data in a
format that can then be easily analyzed and transformed into effective insights into your
customers.
Customers now demand a personalized service and an effective strategy can provide this
through tools such a Single Customer View and Data Profiling.
With CDM, one or more software applications are integrated to facilitate access to reliable
and efficient customer data. Attracting and retaining customers requires a clear understanding
of customer requirements. CDM streamlines customer relationship management (CRM),
marketing and customer feedback management (CFM).
CDM must be tightly integrated across the departments of an organization, including IT, sales
and HR. CDM processes include:
Categorization: Customer data is classified and subclassified.
Correction: Collected data is verified for accuracy and consistency. When
necessary, contact details are updated, and duplicate records are removed.
Enrichment: Incomplete data is collected and completed.
Collection: Customer data and insight activity is collected via a customer
feedback system or sources, like sales, customer support, surveys, reports,
newsletters and other customer interactions.
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DESIGNING LOYALTY PROGRAM:
A good customer loyalty program can generate significant gains in recurring revenue for your
business by improving the return on your marketing and sales budget.
Keeping an existing customer costs up to five times less than winning a new
one.
It’s easier to persuade a customer who already knows you to buy again and/or
buy more from you.
20% of customers are typically responsible for 80% of a company’s revenue.
Before developing a customer loyalty program, you need to know whether this will be a
useful tactic for your business.
The first thing to determine is the value of a customer to your company and how much it
costs to acquire one. This will help you decide whether to invest more money on developing
new customers or on retaining and developing the ones you already have.
The value of a customer
Let’s say a good customer at a B2B company buys $30,000 worth of product in a year.
At the same time, you spend $175,000 a year in marketing and business development
activities that yield, on average, 10 new customers a year. Therefore, your average customer
acquisition cost is $17,500.
If you have several existing customers who don’t spend $30,000 with you in a year, why
invest $17,500 finding a new customer? With a good customer loyalty program, you will
most likely boost your sales to existing customers at a much lower cost.
Steps to develop a customer loyalty program
i. Study your current customers
Here are some questions to ask about each customer:
How much does this customer buy in a year?
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What type of products do they buy and how frequent are purchases?
How long have they been a customer?
Can we sell them other products?
Do they use other suppliers, and, if so, who are they?
How much profit do we earn on their purchases?
How fast do they pay?
How satisfied are they with our company?
How could we improve our business relationship?
ii. Prepare your customer loyalty program
Before launching a loyalty program, you need to assess your customers’
current level of satisfaction through such techniques as surveys, interviews and
monitoring customer comments.
Then, identify employees who are good at dealing with customers and who
will be available to participate in the program. You will need to target
customers who purchase frequently from you but could become more
profitable, according to your analysis. If the purchase cycle is long (more than
three years), this type of program is generally not recommended.
iii. Set goals, and measure them with a CRM
Set your goals for the program from the beginning. For example, if your
customers purchase on average three times per year, set a goal of 3.3 times a
year. This will increase your sales by 10% with few additional expenses. Use
CRM software to manage this program. If you are looking for a low-cost or
free CRM solution, you may want to consider our list.
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iv. Set a budget
Set a budget for managing customer retention and a separate one for
developing new customers. To do so, consult your industry average, if you are
looking for above-average growth, increase your budget accordingly.
v. Decide which customers to target
Based on the study described above, categorize your customers (e.g. A, B, C)
according to evaluation criteria that are adapted to your needs and objectives.
Volume of purchases
Ability to purchase more products and services
Speed of payment
Customer profitability
Loyalty over time
vi. Choose tactics that will encourage client loyalty
Choose loyalty enhancing tactics that are related to a customer’s purchases,
but also to the quality of your business relationship. Here are some examples:
Monthly visits from a sales representative.
Annual visit and business lunch with the vice president of sales.
Personal invitation to a seminar and dinner given by the president.
Premium service guaranteed 24/7.
Emergency phone line and secure website access.
Additional discounts when purchase milestones are reached.
Sponsorship of an annual event.
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CUSTOMER LIFE TIME VALUE CALCULATION:
The goal of the CLV is to take into account your customers’ loyalty and retention to calculate
the turnover (or profit) that a customer will generate during his or her “life” on your site.
The customer lifetime value is essential since it allows us to predict our turnover over the
long term and to adjust our marketing or acquisition budget in consequence.
If you thought that the cost of acquisition was calculated based on a single hypothetical
purchase, here is some data that will surely make you change your mind.
How do you calculate your customer lifetime value?
There are several formulas for calculating the LTV. However, many of them are complicated
and time consuming to put in place.
There is a simpler way to calculate your LTV.
For this, you will need some bits of data from your business:
i. Average cart
The average cart is just turnover divided by the number of orders. It’s the
average value of a purchase on your site.
Average cart = Turnover / Number of orders
ii. Purchase frequency
Purchase frequency is a piece of data that allows you to understand how many
purchases are made by the same customer during a given period. This is
essential since it tells you how many purchases your unique customers make
over a given period of time and whether your customers tend to make new
purchases on your e-commerce site.
Purchase frequency = Number of orders / Unique customers
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iii. Customer value
Customer value is the average value of your shopping cart multiplied by the
average purchase frequency of your customers over a given period. It’s the
multiplication of the two pieces of data that we have just explained:
Average cart X Purchase frequency
iv. Customer average lifespan
The customer average lifespan is the last piece of the puzzle. However, it is
also the most complicated to understand because it depends on the type of
activities you occupy.
Generally speaking, the customer average lifespan is considered to be between
1 and 3 years. However, this piece of data will change depending on your
business model: do you offer a subscription service or a one-time purchase?
If your business is a very occasional niche, consider a lifetime of between 1
and 2 years. If you are working on a clothing or decoration brand and your
designs are renewed regularly, you can take 3 years as a basis for your
calculations.
Calculating the Customer Lifetime Value:
Now that we have prepared all the data we need, it’s time to finally discover how much our
customers are bringing in during their lives on our site! Here is the formula:
Customer Lifetime Value = Client Value X Average Lifetime
By multiplying the value of a customer over a year (average cart x number of purchases) by
the average lifetime of your customers (1-3 years), you obtain the turnover that a customer
brings in during his or her period of activity (1-3 years) on your e-commerce site.
31. 31
Some calculation variants:
Before going on to the 5 concrete methods to increase your Customer Lifetime Value, here
are some variants of calculating the CLV for those who would like to push the analysis a little
further:
i. CLV expressed in profits: on the same basis as the calculation that we have
just made, you can reason in terms of profits rather than in terms of turnover.
For this, simply replace the monetary data (previously expressed in turnover)
by the profit generated by purchase.
ii. CLV expressed in segments: to further analyze your customers’ behavior,
you can analyze the CLV for each segment. For example, you can calculate the
LTV for each of your acquisition channels, each demographic or geographic
profile, etc. The possibilities are endless, and we can only advise you to push
the analysis further.
5 practical methods to increase customer lifetime value:
You now have a reliable method to calculate your CLV.
The goal is to increase this customer lifetime value to make each customer more profitable.
32. 32
While a customer can be expensive to acquire, there are several ways to increase the
“customer value” and thus increase the profits from each customer.
Focusing too much on acquiring new customers, and we forget that, according to Business
Insider, regular visitors are twice as likely to put an item in their cart as new visitors.
Similarly, it is important to know that regular visitors have a lower bounce rate and a better
conversion rate compared to new visitors.
Improving your LTV means working on the purchase experience and tunnel, customer
service, and brand loyalty.
In short, working on the entire customer lifecycle to maintain a connection with your brand
for as long as possible.
33. 33
USE OF INTERNET FOR CRM:
While CRM is not a technology within itself, it is often used with technological tools to build
stronger relationships with customers. The Internet has become an important part of CRM.
As more people begin conducting business over the Internet, it has become necessary for
CRM vendors to create applications that are web based.
There are a number of Internet technologies that are directly connected to CRM and one of
these is online chat tools. Internet chat is a communications tool that has existed for a number
of years. However, many companies are just now seeing the benefits of using it in a way that
can allow them to effectively communicate with their customers.
When Customer relationship management systems were first introduced, they were
developed with client-server tools. Because of the rapid popularity of the Internet, more
vendors are creating CRM solutions that are web based. They are typically used by call
centers and technical support departments.
A number of companies are now using chat software to facilitate better communications with
their clients. It is important to realize that text based chat programs predate the World Wide
Web by a number of years. However, combining this technology with the Internet has
allowed it to be user-friendly. In addition to this, the latest chat programs have functions such
as video and audio.
There are a number of benefits a company can gain by adding chat functions in their CRM
programs. Perhaps one of the most powerful benefits is that many customers are already
familiar with chat programs, especially those that use the Internet frequently.
Even though new forms of technology are typically challenged by many people, chat
programs have become widely popular since their introduction. A number of statistics
indicate that millions of people are logging into online chat rooms on a regular basis.
Some of these chat rooms are dedicated to specific subjects, and the members will frequently
log in to chat about them. Chat rooms can allow customer service representatives to serve
multiple clients at one time. In addition to this, setting up an online chat room is much
cheaper than establishing a call center.
34. 34
In traditional call centers, it is not uncommon for customers to wait 15 minutes or more
before they can speak to a live customer service representative. Not only is this annoying, but
it is expensive for the company to maintain.
The Internet has allowed small businesses to compete at a very high level. While most small
businesses could not afford the costs involved with setting up a call center, online chat
programs have allowed them to achieve the same objectives for a lower price. Some have
even said that it is very likely that chat programs may eventually make call centers obsolete.
Moreover the internet simplified bidirectional communication, for the first time offering a
better way for consumer to relay personal information to the merchant. Instead of waiting to
be mailed a form to open an account or order a phone line, a prospective customer needed
only to send an application through cyberspace, resulting in shorter delivery time, improved
accuracy, and quite often a higher positive perception. In fact the internet is an environment
of zero latency, offering real-time information and often on demand product delivery.
Internet users appreciate not having to go out of their way to buy what they want, and the
simpler the process, the higher the potential for customer satisfaction indeed, the web offered
customer options they hadn’t had with other delivery channels, namely:
i. 24-hour access
ii. Up to minute information (on, for example, stock levels, product feature, and
prices)
iii. Online customer support
iv. Online self service
v. Personalized content
vi. The ability to research a product or merchant during a shopping trip
35. 35
CRM does through internet:
i. Tracking and monitoring customer needs
ii. Providing customized products/services matching with customer expectations
iii. Converting customer micro-information for market targeting and decision
making.
iv. Conveying information about customer to other departments in meaningful
form integration of other departments through information and to deliver
quality products and services
v. Reducing order processing time
vi. Improving receipts/payment from customers.
vii. Tapping customer feedback for strategy and differentiation.
In Indian context CRM can be a powerful tool for business to business market
using EDI(Electronic data interchange) but in the Business to customer market
following constraints are there:
i. Reach of Internet technology
ii. Consumer shopping pattern on NET
iii. Issue of tangibility of products
iv. Haggle behavior of customer on the price offers
v. Logistic constraints in delivering products/services in time
36. 36
CRM ARCHITECTURE:
In addition to building sales and increasing profits through the gathering of data, CRM
systems are also valuable for maintaining and nurturing a loyal customer base. But how is the
architecture of such a system designed, and how does each part integrate with the others?
CRM categories:
i. Collaborative
All communications between a business and its customers are recorded,
organised and processed in the collaborative section of the software. This
means communication by telephone, in person, and by email.
Customer relationships can be nurtured using data already provided by them
which demonstrates their shopping patterns and behaviours, likes and dislikes,
the times they are most likely to buy, and how much they spend on average.
Businesses use this information to provide enhanced customer service, cross-
sell products based on previous buying history, and offer targeted deals to
segments of their customer base. Customers can be segmented by various
criteria including geographical location, age, gender, and profession, and can
be targeted via personalized emails or newsletters offering discounts and deals.
ii. Operational
This category within a CRM system deals with the automation of business
processes including customer service, data on competitors, industry trends,
customer account information and management.
Data is collected and stored within the database, ready for use in day-to-day
operations such as management of customer accounts, in addition to overall
strategic planning. Detailed information about special customer needs,
destined for the sales force, is also stored here. Use of this type of data further
enables a business to personalize its approach to customers.
37. 37
iii. Analytical
Analytical CRM might result in cross-selling certain items to particular
customers based on their previous buying habits, or imparting information
relevant only to certain segments of a customer base.
This part of the CRM architecture is also invaluable for identifying changes in
the industry as a whole, so that businesses remain agile and respond quickly to
changing market demands. Data can be analysed in a number of ways, and
graphs, reports and diagrams produced to better illustrate the results.
This is the basic architecture of a customer relationship management system,
but the rise of social media and mobile working has brought other, more
defined systems to the market. Popular ‘add-ons’ to the basic structure of a
CRM solution might include cloud based systems that are accessible from any
device.
The key word in CRM is integration – integration of data so that it can be put
to use in a way that benefits not only the business, but also customers,
suppliers and the workforce. Using mobile technology and social media was
the obvious next step in this process, and targets a whole new potential
customer base.
CRM Architecture as a whole:
The underlying aim of a well-structured CRM system is to provide an enhanced customer
experience and enable businesses to gain valuable information as their customers shop.
Business owners can use this data to increase sales and boost their bottom line, analyzing
marketing campaigns, and offering added value to existing and potential customers.
38. 38
CRM ROADMAP: PROJECT MANAGEMENT
Developing a CRM Roadmap involves aligning an organization’s business strategy with its
prioritized CRM capabilities. For example, if a company’s business strategy is to develop
products faster to gain unique market positioning, the capabilities that the company needs to
master should be aligned with that strategy, and might include:
Leveraging customer information from the service process (e.g. integrating
customer feedback during service calls with the marketing department),
Effectively managing product mix (measuring success by campaign), and
Effectively managing sales channel strategy (eliminating conflict between
distribution channels).
Step 1: Gain Senior Level Sponsorship
The sponsor for a CRM Roadmap effort must have a vested interest in the project and
ideally has P&L responsibility for the group to be impacted. This helps develop buy-in
from the senior management team and the operations staff.
A Roadmap effort without senior level sponsorship and with little cross-unit influence
can diminish the returns of such an effort. As with any project an organization
undertakes that involves significant change to business processes, organizational
structures, or roles and responsibilities, the lack of key, influential sponsorship reduces
the effectiveness of the project, since there is no driving force for implementation.
Step 2: Gather Information
It is critical to gain insights of various key stakeholders and decision-makers within the
organization. These insights can be acquired most effectively by holding one-on-one
meetings. We use an “interview template” that consists of more than 30 questions. This
template serves as the foundation for framing initial discussions with the client.
Examples of questions that help us gauge the health of the client’s CRM include:
39. 39
How would you define CRM?
What types of customer information is captured/tracked (acquisition/retention
costs, churn, cost to serve, etc.)?
What information would you like to know about your customers that you
currently do not?
Depending on the scope and effort of the project, these meetings may include not only
executives, but also individuals all the way to the front line. Given their more frequent
and direct interactions with the customer, front-line personnel may know more about
customer needs, preferences and concerns that may not have been communicated to the
executive level.
Step 3: Assess Current state and Define Future state Gaps
Through these meetings, we gain an understanding of the client’s current CRM
capabilities and significant opportunities to improve their customer relationships, and
map out our findings. We also strive to understand their company’s future direction
(usually between 6 months and 2 years).
We use the results to determine how close these organizations are to meeting and
exceeding their customers’ expectations, and present the gaps between their current
state of CRM and their desired state.
We then compare the current state of CRM against best practices within the clients’
respective industry and across industries that reveal opportunities to help our client
become not only an industry leader, but also a cross-industry world-class leader.
Step 4: Identify Value Opportunities
Value opportunities represent the potential benefits delivered by being more customer-
centric. We identify and categorize value opportunities along the lines of people,
process and technology by analyzing the gaps between the organization’s current state
40. 40
and its desired future state. Once value opportunities are identified, meetings should be
held with the executive team to prioritize them.
One example of a “process” value opportunity is improving data capture for all
customer contacts across sales functions and touch points (e.g. phone, e-mail, etc.).
“People” value opportunities may involve additional training on service procedures for
capturing customer data. “Technology” value opportunities might include developing a
data warehouse.
Step 5: Link Value Opportunities to strategic CRM Capabilities
Once we determine where the value opportunities lie, we map each to the 21 world-
class CRM capabilities detailed in the study mentioned above. Identifying which
strategic CRM capabilities are needed enables organizations to more effectively direct
their CRM efforts and ensure they derive the projected value of any CRM projects.
Below is a sample of link between a specific value opportunity and its corresponding
strategic CRM capabilities:
Value Opportunity:
Improve customer understanding
Strategic CRM Capability:
Possess good knowledge of the customer
Leverage customer information from the service process
Understand customer profitability and cost-to-serve.
41. 41
Step 6: Define CRM Projects and Requirements
Once value opportunities are prioritized, specific CRM projects need to be developed.
Defining and executing CRM projects will ensure the company masters the relevant
strategic CRM capabilities.
An effective way to define relevant projects is through brainstorming sessions with the
client. Samples of the outcome of a session might include:
Understand customer profitability
Enhance call center operations by implementing sophisticated touchpoint
technologies
Establish a data warehouse
Improve sales force training
Once CRM projects are defined, it is critical to go one step further and identify the
business and technical requirements needed. These should be specific and address the
necessary people, process and technology components of each project.
For “Understanding Customer Profitability,” functional requirements might include
creating a common definition for profitability formula for:
Products, channels, sales staff, customer segments, individual customers
Ensuring consistency across the enterprise
Defining components of the formula (acquisition, marketing, servicing costs,
etc.)
Step 7: Develop Business Case
Once the projects and requirements are defined, it is necessary to develop the business
case to support or refute the criticality of a specific project. The business case seeks to
justify the dollar investment needed and the ROI (return on investment) that will be
realized over the course of the investment, usually three to five years.
42. 42
For example, a typical CRM investment ranges from $10 to $25 million (or more) over
a three to five year period. The amount is wholly dependent upon how many initiatives
have been identified and how extensive those initiatives are. A Marketing Insight
initiative is typically very expensive, and often requires the creation of an enterprise
wide data warehouse with links to legacy systems dispersed throughout the
organization. In addition, to perform the analysis necessary to glean insight requires
specialized software and training for the staff that will use it. Other initiatives can be
quite simple. Sales force automation initiatives often fall into this category and offer the
additional benefit of introducing CRM concepts and execution to an organization on a
small scale with a high probability of success.
The investment cost takes into account number of users, internal and external human
resources, training, infrastructure, hardware, software and implementation costs. The
typical ROI for this range of investment though could vary from $22 million to $110
million.
Each business case should include:
Details and costs of required resources (people, technology, training,
outsourced resources, etc.),
Projected duration of time of each project and
Options for completing the project using internal or external resources.
Once the costs are quantified for each project, potential benefits are estimated. This is
much more difficult than simply quantifying project costs. The use of our study “How
much are CRM capabilities really worth” provides significant value here. We are able
to quantify the benefits of mastering specific CRM capabilities (identified in step 5) and
thereby complete the most difficult part of the business case. A key requirement is to
ensure that senior executives are in agreement with and will support the extent of
expected benefits.
Business cases enable a company to prioritize each project’s value to the organization.
With the creation of a “value realization plan,” client executives have a tool to judge
the impact of changes to the CRM investment plan. An accelerated implementation
could be modeled to quantify the effect of earlier CRM benefits. Similarly, an extended
43. 43
investment plan allows them to quantify the impact of a slower implementation in terms
of lost benefits over time.
Step 8: Develop a Roll-out strategy
Developing a roll-out strategy enables organizations to focus their resources, money
and time on the most important projects that help them become customer driven.
Prioritization and phasing of projects is conducted with the executive team, a process in
which they evaluate the results of the business cases, and consider for each project’s
financial results, duration, level of effort required, and technical impact.
Critical Success Factors
In order to successfully develop a CRM Roadmap, there are several critical success factors
that must be kept in mind:
i. It is vital to have buy-in from top management.
ii. A strong sponsor is required (skilled, knowledgeable and politically savvy).
iii. It is essential to have buy-in and involvement from all process owners.
iv. It is critical to have a strong leader who can hold constructive, productive
brainstorming sessions, and is good at maximizing participation from the client
team. Also, it is helpful to hold brainstorming sessions during numerous steps
within the development of the roadmap.
v. Feedback from all affected internal and external parties (customer groups,
other inter-dependent internal departments) must be obtained and considered.
vi. Do not lose sight of your customer’s
vii. Installing technology without revisions in supporting processes and
people/organizational elements will not result in a comprehensive CRM
Roadmap.
viii. Lack of communication can be life threatening to a CRM Roadmap
project. You cannot over-communicate.
45. 45
STUDY OBJECTIVES
Objectives of the study are:-
1. To understand lead generation techniques used by Design and Deliver.
2. To understand the process of conversion of prospect into customer at Design and
Deliver.
3. To understand all types of promotional techniques (online/offline).
47. 47
DATA PRESENTATION AND ANALYSIS
LEAD GENERATION
Our first task was to generate leads using various social media platforms, such as LinkedIn,
Facebook, or using Google for searching the potential customers for our products.
Following are the leads that we generated:-
Company
Name
Concerned Person Phone Number Email Address
Jaypee
Brothers
Ms. Annu Raina 8377900515 annu.raina@jaypeebrothers.com
Bajaj capital Mr. Vishwajeet 9811468350 vish@bajajcapital.com
Fortis
hospital
Mr. Sidharth 9891005550
HavellsIndia Mr.RavinderGarsa 120-3331000 ravinder.garsa@havells.com
Nestle Mr.
SubhabrataGhosh
124-2389300,
1606(ext.)
subhabrata.ghosh@in.nestle.com
Apollo tyres Ms. ParulTandon 124-2721000 parul.tandon@apollotyres.com
Air Vistara Ms. Shruti 124-4515151 shruti.chakravarty@airvistara.com
Sony Ms. RakhiKochar 11-66006600 rakhi.kochhar@sony.com
Bacardi Mr. Anshuman 124-
4558800,4264304
agoenka@bacardi.com
JK papers ltd Mr. Subhankar
Paul
9599928011 sp.chowdhury@jkmail.com
Exhibition
group India
Mr.
IndraaAggarwal
9711202480 indraa@eigroup.in
Acme Mr. Gaurav 9999479797
Emami
limited
Mr. Pratyush Seth 7044076475 pratyush.seth@emamigroup.com
leverage edu Mr. Rahul Bansal 8882222230 rahul@leverageedu.com
India today
group
Mr. Anuj
Jamdegni
120-4807100 anuj.jamdegni@intoday.com
Cambridge Mr. Ankesh 11-43543504, asawrav@cambridge.org
48. 48
uni. Press Sawrav 43543500
Bloomsbury
publishing
Ms. Meenakshi 11-49574957,
40574954
meenakshi.singh@bloomsbury.com
Den
networks
Mr. Anirudh 11-40522200 aniruddha.singh@denonline.in
Coca-Cola Mr. KapilChanana 9818671450 kchanana@coca-cola.com
Usha
internationals
Mr. AjitTyagi 9899107943 ajit.tyagi01@gmail.com
Muthoot
group
Mr.
KamaljeetSingh
9711346424 kamaljeet.singh@muthootgroup.com
HavellsNoida Mr. AmitSahu 9818536537 amit.sahu@havells.com
Good year Ms. Deepali 9999288846 deepali_kapoor@goodyear.com
JKLaxmi
cement
Mr. Rampal 9810313900 rampalrakesh@jkmail.com
Zoom me
mobile
Mr. Rajeev Tiwari 7838290426 rajeev.tiwari@zoomme.in
Agaston
mobiles
Mr. Nikhil Kumar 9711714623 nikhil.kumar@agastonn.in
red FM Ms.
KanikaVasudeva
9810750609 kanika.vasudeva@redfm.in
Kajaria
ceramics
Mr. Sunil Panchal 11-26946409 sunilpanchal@kajariaceramics.com
49. 49
COLD CALLING
After generating leads, we used to call them and tried to contact the marketing manager or the
purchasing manager of the company.
Most of the time, calls did not connect as the number searched from different platforms was
not right and when it did connect then too, it was very difficult to connect to the marketing
manager as usually they were not available .
In some cases, we got a chance to talk directly to the marketing manager and told them about
our company and the products that we deal in.
We used to ask them their email IDs and mailed them the company brochure. After that most
of our conversations carried on through mails.
If the clients were interested in the gifting and interested in purchasing our products, we used
to ask them if we can meet and have a proper discussion about the range, size, quality, type
and variety of products we can offer.
MEETING THE INTERESTEDCLIENTS
We used to visit them for sharing information regarding our product range. So, initially when
we met them we showed them the complete product range so that they can get an idea about
the products we offer.
The meeting included discussions wherein we used to ask them about their requirements of
the products, what is their need, whether they want to gift their customers on a particular
occasion or is it the annual bonus gift.
Once we knew what they require, we used to take them through the similar products as per
their need.
They used to ask different questions regarding the products like if they can get customized
products too, or the minimum order that we take, queries regarding the choices they have of
shape, colour, size, type of material, durability etc.
50. 50
FOLLOWING UP WITH THE CLIENT
After the meeting has been done, we get to know about the products that the company
requires and also if it is not interested in buying any products.
If the company wants to buy products, or seems interested and has asked for some time to
think about it then we used to follow up with them the next day and ask them about their
purchasing plans.
CLOSING THE ORDERS
After discussions about the products that the client is interested in. we used to ask them about
the quantity they require and the product specifications and till when they want the products
to be delivered.
Hence, after that we used to close the order and forward it to the manufacturing team.
The work did not finish here.
After closing the order, we had to be in constant contact with our manufacturing team and the
client to tell them about the progress of the products.
52. 52
CONCLUSION
PROMOTIONAL TECHNIQUES are used to meet the four objectives of promotion in the
following ways:
Dispensing Product Information
One promotional strategy objective is dispensing product information. Small companies
often distribute brochures, catalogs, sales letters, videos and other information to
market their products. They also use in-store videos or instructions to demonstrate more
complicated products such as computer software, vehicles or educational courses, for
example. Businesses also distribute promotional materials with their websites so people
can view literature or online videos at their leisure. Consumers need information to
assess various products and make purchase decisions. Advertisers use product
information to educate consumers on various product features and benefits.
Increasing Customer Traffic
Some promotions are used to generate more customer traffic. For example, fast food
restaurants often feature certain meals at reduced prices. These meals may be advertised
in commercials to drive people into the fast food restaurants for lunch or dinner.
Businesses may also reward regular customers with frequency card or loyalty
programs. These promotions are designed to increase customer visits by rewarding
them according to their expenditures. For example, a barber shop may offer customers a
free haircut on the seventh visit. A company typically earns a large percentage of its
sales from repeat business.
Building Brand Awareness
Small companies usually implement promotional strategies to increase brand
awareness. Brand awareness is the percentage of people who recognize a brand from a
specific company, according to marketing expert Dave Dolak. It is a metric that is
relative to other competitive companies. In other words, companies strive to build
brand awareness so their products are chosen over other brands. Brand awareness
usually increases over time through repeat advertising and other key promotions.
53. 53
Increasing Sales and Profits
Companies primarily promote their products to drive sales and profits. They may use
product sales, coupons and "bogo" or buy-one/get one free offers to increase sales
short-term. But they will need to emphasize product quality and customer service in
their messages to increase long-term sales and profits. Businesses usually have specific
attributes or core competencies that set themselves apart from competitors. To be
successful, the images marketers wish to portray must be commensurate with actual
company operations.
CUSTOMER RELATIONSHIP MANAGEMENT is used to meet the four objectives of
promotion in the following ways:
Improved customer satisfaction
Happy customers are loyal customers and they also offer good word of mouth
advertising, which can be invaluable. Making customer satisfaction the primary goal of
your CRM campaign is the surest way to improve your bottom line. This can be
achieved by fostering increased customer engagement via social networking sites and
various mobile platforms. You can consider implementing surveys or creating an
interactive blog. Actively soliciting feedback from your clients will help you determine
which actions and activities will make them more content with the services or products
they are receiving.
Improve the efficiency of Business
CRM can help you eliminate redundancies in your marketing campaigns by allowing
you to intuit which stage of the purchasing process each returning customer is in. You
can send out marketing materials that are targeted to specific interests and purchasing
abilities, rather than transmitting general messages that are far less likely to generate an
optimal amount of attention. A good CRM platform will collect and organize a wealth
of data pertaining to individual and group consumer profiles. Another part of these
endeavors can be the implementation and use of knowledge management systems that
54. 54
increase the speed at which customer inquiries are addressed and problems are
resolved. Greater levels of efficiency will also lead to improved client satisfaction.
Expand you customer base
It is important to note that CRM is not just for managing the customers you already
have. A CRM program that is linked to a high-quality knowledge management platform
will allow you to stay in contact with prospects that have yet to convert. It will also
allow you to identify commonalities and relationships among the clients that you
already have, so that you can hone and improve your future efforts in outreach. A larger
customer base will allow for increased continuity in profits, even in a seasonal industry.
Enhance your sales and support teams
One of the most important CRM objectives to consider is enhancing your team. By
better learning the needs of the people you service, you can become increasingly adept
in identifying the right talent to provide these services. Talent management software,
HR management software and other cloud-based tools can help you increase the value
of your trained employees. Much like your current customers, your talent is among
your top assets. Whether CRM helps you replace undesirable additions to your team or
gives you a framework for increasing the customer service skills of existing employees,
it is certain to improve the benefits that hired workers are providing.
56. 56
SUGGESTIONS
The company must focus on prospecting and qualifying the clients before
approaching them based on the NAME acronym which says-
N-need
A-Authority to buy
M-Money
E-Eligibility to buy
The company must be involved in random lead generation too by using postal
or electronic sales letters, trade shows, fairs, and exhibits, professional
seminars and workshops, contests, gifts, etc.
The company must plan the sales call properly by taking into account the
following-
i. the prospect’s duties
ii. superior
iii. education
iv. work experience
v. level of technical expertise