“Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.” – So truly said by Steve Jobs.

Today, Enterprise Customer Relationship Management (eCRM) has broadened its horizons to move beyond simple maintaining and managing client relations and now also encompasses business strategies to involve implementation of policies, processes and technologies. The entire focus of any business has now shifted from process-centric to customer-centric. With hoards of industries falling in for this concept,

With incessantly changing technology waves and ever growing competition, multi faceted industries like FMCG, Retail, Hospitality, Pharmacy, Education, Banking, Finance, Manufacturing and many more are falling prey to this innovative and profit making concept. One of the most affected industries and one of the largest growing sector is the Retail segment. The significant factor that affects the performance of a retail industry is its proficiency to beat the cut throat competition and maximize RoI in the stipulated time. With stringent deadlines to meet and continuously changing customer demands, it is vital for this segment to make a strategic initiative and go in for a comprehensive Enterprise Customer Relationship Management solution to keep pace with the advancement of digital technology.

CRM has many definitions, all of which narrow down to a single objective: Customer satisfaction, loyalty and retention. Today, it is not necessary for clients to be loyal to us. In fact, it is the other way round. We need to prove ourselves to keep our clients stuck to us. More than the profit and RoI factor, what really matters is your customer not looking here and there for any solution and comes straight to you in case of any solution need.

Why is the need for Enterprise Customer Relationship Management so evident in Retail Segment?

Retail segment is a product based segment covering a variety of products like apparels, footwear, health and beauty care, consumer durables, furniture, utensils, food and grocery, books, music, gifts to name a few and possesses different kinds of retailing which could be unorganized (street markets, kiosks, vendors, stores etc.) and organized (modern retailing etc.). Today organized retailing is gaining momentum and is expected to reach new heights very soon, in which there is more focus on distribution channelling, wherein organizations either manufacture products or buy from firms and then sell off directly to consumers.

Multiple factors contribute to the business growth of any retail segment, which can be achieved through implementation of Enterprise Customer Relationship Management solution:

• Increasing urbanization
• Growth in per capita income and consumer classes
• Economic growth
• Rise in number of nuclear families
• Enhanced usage of plastic money
• Consumers moving from necessities to luxuries

Diverse Trends being observed in Enterprise Customer Relationship Management for Retail

• Based on the revenue generated, retailers can be segmented into different layers and based on that layering, the solution can be worked out to yield best of results
• Owing to technology waves pushing the industry, retailers from any segment, be it small, medium or large are all set to adapt eCRM into their daily businesses. Of course, it is a tough task for small enterprises but today, with multiple solutions ruling the market, there is one for each.
• Adapting the true motto of customer centric philosophy, today, retailers, from all categories are moving in for Enterprise Customer Relationship Management
• Not only that, moving one step further, retailers have also started culling out useful information from customer data and have moved beyond plain marketing and have started analysing from the various reports being generated.

It is a must for retailers to move in for Enterprise Customer Relationship Management solutions and retain confidence in the solution to make sure there is increase in revenue, enhancement in customer loyalty and faster business growth.

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.