Enterprise Customer Relationship Management (eCRM) has been spreading its wings all over the globe since the last couple of years and is bent upon stretching its boundaries to enhance beyond simple maintenance and management of customer relationships to include evolvement of business strategies and implementation of policies, processes and technologies. Earlier, the entire focus area used to be the process and now it is totally on the customer. With almost all industrial areas going in for this concept, no wonder, the retail segment, which is one of the most in-demand areas today, has also stuck to eCRM and has benefited in abundance from it.

With a continuously changing technology front and ever increasing struggle, a large number of conglomerates from diverse industries like FMCG, Retail, Hospitality, Pharmacy, Education, Banking, Finance, Manufacturing – to name a few, are going in for this beneficial and lucrative concept. The retail sector is highly affected with eCRM implementations owing to its promising ROI maximization and skilfulness to beat the sharp competition. With such tight deadlines to abide with and every changing client demands, it is essential to go in for a strategic initiative and for a all-in-one Enterprise Customer Relationship Management solution to move ahead seamlessly with the digital technology.

When we say CRM, we talk of a single focus area – the ‘Customer’ and its related parameters like satisfaction, loyalty and retention. Today, is the need to prove yourself in such a way that your client is forced to stay loyal to you and not be attracted to parallel lucrative offers. It is the value that counts, rather than the money. Be it any need, your client should come running to you and that is what is the real intention of a good eCRM.

Reasons why Enterprise Customer Relationship Management proves to be so vital in Retail Segment?

The Retail segment focuses on a product based industry which encompasses a large variety of products like apparels, footwear, health and beauty care, consumer durables, furniture, utensils, food and grocery, books, music, gifts etc. and contains a wide range of retailing techniques like unorganized (street markets, kiosks, vendors, stores etc.) and organized (modern retailing etc.). Looking at the speed at which organized retailing is gaining momentum, there surely, is a large focus on distribution channelling, where organizations either manufacture themselves from buy them from enterprises to sell them to end clients directly.

There are N numbers of factors that lead to the business growth of any retail industry, which can be obtained by implementation of Enterprise Customer Relationship Management solution:

• Growing urbanization
• Expansion in per capita income and customer classes
• Financial growth
• Increase in figures of nuclear families
• Improved practice of plastic money
• Clients moving from supplies to luxuries

Enterprise Customer Relationship Management for Retail Segment Showing a Multitude of Trends

• A set of layers can be worked out depending upon the generation of revenue and that can be worked out as a fundamental based for the eCRM solution to get the most positive and lucrative results.
• Be it any size, small, medium or large, all retail segments have started adapting eCRM into their daily business lives, succumbing to the pressure that the technology has started putting in all industrial zones. Though it may look difficult for smaller ones to adapt this, with industrial revolution taking its toll, there are sure to be fit solutions for each kind, with respect to features and value for quality.
• All retailers have now realized the actual fundamental of a customer centric philosophy and hence have, with conviction, moved on to Enterprise Customer Relationship Management This surely makes a affirmative difference, when the end user is himself / herself ready to accept a new change.
• Now that retailers have realized the power of eCRM and the amount of flexibility and simplicity that lies in getting any kind of information in the desired format, they have migrated beyond simple marketing and have moved one step further, analysing the culled out information and strategizing their further plan of action.

Looking at the above trends being followed, it seems an essential must for the retail segment to adapt to Enterprise Customer Relationship Management solutions and ensure productivity, profitability, ROI maximization, customer loyalty and swift business expansion.

SPEC INDIA’s Enterprise CRM solution – “Renaissance”, encompasses the enterprise workflow for a diversity of audiences like sales teams, service and maintenance teams, dealers and distribution channels. Inclusive of dealers, it also possesses 3rd party legacy system integration.

Visit www.ecrmsolutions.co and request a FREE DEMO to know more about this product.