By;

1) Palak Patel2) Shrikant Rana

CRM IN RETAIL

Overview of Retail

5th largest in the worldGDP- 14%- 15%Organized retail stores- 6%Unorganized retail stores- 94% Example of organized stores- Reliance, Big Bazaar, Pantaloons, Shopper Stop etc…Example of unorganized stores- Kirana shop, Paan shop, etc…

What is CRM?

Information industry.Methodologies, software & websitesManage Customer RelationshipsOrganized in Efficient manner

CRM CYCLE

Advantages…

Increase relationship with clientsIncrease the salesReduction of sale cycleBetter communication channelsCreate detailed profileNew selling opportunitiesProvide better customer service

Disadvantages…

Small companies- not possibleHigh costRequires continues Maintenance, Up Gradation of info.Difficult to integrate with other MISTraining cost increases

CRM @ Reliance Retail

CUSTOMER LOYALTYCUSTOMER RETENTIONCUSTOMER COMMUNICATIONCUSTOMER SATISFACTIONCUSTOMER GRATIFICATION

Customer Loyalty

Reliance one MembershipGet Redeemable pointsOpportunity of getting 4 different insurance

Customer Retention

Zonal levelOffers & DiscountsRepeated, if it works with products

Customer Communication

Forms of SMS or email (members only) Organized special eventsThank you & festive cards

Customer Gratification

Trained salespersonThank you with smileGifts & discounts coupons

CRM @ Big Bazar

Database is formed through the issue of future cardCustomer profitability analysis (CPA)Differentiate customers in terms of their need and value to companyInteract with individual customers

Analysis of CRM

Four types of analysis done :-

Periodic SurveysCustomer loss rateMystery ShoppersMonitor Competitive performance

Customer Satisfaction through Service…

Problems identificationManaging customersEffective communicationAnalyzing customer perceptionsManaging service behaviorsDealing with long-term consequencesNegotiating solutionsGenerating an action plan

CUSTOMER COMMUNICATION

Customer Perceived Value (CPV)

Is calculated by the retail store in order to asses the cost and benefits received & give to the buyers.

CRM as a Solution for Retail

Helps increase wallet-share by brand building and trade promotion to maximize product sales using performance details, profiling information plus transaction and feedback data.

Enables servicing customer needs and complaints across channels using a single system to prevent information leaks.

THANK YOU…