A sound and well-rounded customer relationship management system is an important element in maintaining your retail business. Not only is customer relationship management in retail a business strategy, but it is also a powerful tool to connect retailers with their consumers. Developing this bond is essential in driving your business to the next levels of success.
Retail Marketing Landscape
Today’s retail marketing landscape is changing and retail industry organisations struggle to achieve or maintain good marketing communications with existing consumers as well as prospective customers.
How do you do this? You need to identify consumer-related issues, better understand your customers and meet their needs with the company’s products and services. By making accurate estimates regarding product or service demands in a given consumer market, one can formulate support and development strategies accordingly.
CRM Is More than Just Customer Relationships
Contrary to misconception, CRM for the retail industry is more than just building good customer relationships. It should:
- Reach shoppers at the right time, in the right channel with a personalised offer. Ensure the best use of communications channels, such as email, SMS, and social.
- Support a seamless omnichannel retail strategy.
- Measure the value of different market segments and their lifetime value to the business.
- Manage loyalty programs that drive long-term retention and share of wallet.
- Support customers after they purchase products and gather feedback for continual improvement.
- Track the effectiveness of marketing campaigns to increase foot traffic and sales.
- Analyse performance to aid planning.
Integrating a Customer Relationship Management System in the Retail Marketing
A retailer’s CRM system rarely stands alone. That’s because today’s retailer needs a single point of truth. This means all critical data, in one place. And retailers use many systems, including accounting or finance, POS, SMS systems, websites and more. The functions of these systems are varied: product supply, operations, databases, staffing, customer feedback just a few.
The way to achieve this single view is integration.
An integrated CRM system (CRM Integration) means that managers and supervisors of retail businesses can set goals, implement processes, and measures and achieve them in a more efficient manner.
A sound customer relationship management system that integrates all these things will assist to run a retail business more efficiently. A good CRM system can deliver a competitive edge over your retail rivals. Contact us to talk further, as we are experts at customising Microsoft Dynamics CRM to your needs.