The growth of an SME hinges on its customers. It's the customers who define the goals and strategies of a business. Hence, teh busines owner requires to know where he needs to invest money and time to build the right customer relationship.
As per the 2015 economic data, there are 3 million SMEs producing over 8000 items for consumption and exports. Amongst them, SMEs that have actively adopted CRM (customer relationship management) platforms have seen tremendous success over the years. Observing it, other SME have started to follow," says Hitesh Arora, Director of CRMnext says.
Hitesh Arora further adds that "SMEs in India are still in the evolutionary phase of building a customer-driven business model in a seemingly hostile business environment. Also, many of them have a misconception that a CRM solution is very expensive and too complex to adapt. User education is the solution here."
The e-business technologies such as Customer Relationship Management(CRM) or Enterprise Resource Planning (ERP) are radical technologies that are transforming business models and processes, resulting in the disruption of old industries and the creation of new ones. Hitesh Arora added, “There are many factors that influence CRM adoption by SMEs in India. Some of them are awareness about CRM advantages, complexity, competition, budgets, adoption readiness etc. IT consultants and CRM vendors like us help SMEs to understand and take care of these factors.”
CRMnext shares the case of a retail shoe brand, which has faced following challenges:
1. Inter-department coordination
They had no unified system of customer information available which created delays and coordination issues. Data curing for non-contactable customers was almost non-existent. Non-availability of customer bonding information limited their differential service providing ability.
2. Process control and inefficiency
Multiple systems for various stakeholders created multiple ownerships leading to issues with accountability and control over processes and stakeholders. There was no feedback capturing mechanisms from customers on products and service. Manual extraction and analysis of customer data for execution of campaign were time-consuming and cumbersome.
3. Standard Customer Communication
There was no standardized platform for communication between internal team and customers. Due to different systems used by branch and showrooms every team had different versions and status of customer requests. This ambiguity eroded customer confidence in the brand. Multiple and unnecessary redundancies in customer touch points increased customer dissatisfaction due to calls received from various sources for the same material defects
4. Knowledge retention
Key performance indicators with regards to team productivity were non-existent. This led to the lack of reliable measures to track feedback of customers on products and service.
CRMNext provides the following solutions to the problems:
1. Integrated Customer Services Process
CRMNEXT established a unified customer service process across touch-points - showrooms, email, web, SMS, portal. This was done across request types such as enquiry, complaints, requests, feedback etc.
2. Convenient New Business Process
We created a single system solution for the branch, head office and showrooms. This led to better visibility and control on opportunity pipeline across channels. It also reduced departmental dependencies.
3. Marketing and Lead Management System
CRMNEXT introduced touch point unification across showrooms, branch, email, web, mail, SMS and portal. There is now a single system for managing leads including new acquisition leads, cross-sell leads. It has also set up models for intelligent cross-selling campaigns.
The CRM implementation benefitted our client with up to 120% lead acquisition through marketing campaigns, 40% increase in TAT for customer issues, 20% reduction in operating expenses
Picture courtesy:Publicadj (freeimages)
Picture courtesy:Publicadj (freeimages)