snapdealA CRM Study

Guided ByKrishna Dasgupta

Aayush Jain UM15311Ambarish Sarangi UM15315Ankit Patel UM15318Biswajit Routray UM15324

Gunjan Panjwani UM15328Mahesh Prasad UM15333Piyush Virmani UM15384

Submitted By : Group 4

About Snadeal :

Snapdeal, founded by Kunal Bahl and Rohit Bansal, is an online shopping marketplace started in February 2010 as a daily deals platform inspired by groupon.com but expanded in September 2011 to become an online marketplace. It started as a member only website which gradually kept on growing to become the largest online marketplace in India offering an assortment of 12 million+ products across diverse categories from over 150,000 sellers catering to a user base of 25 million members. Snapdeal is now the second-largest e-tailing company after Flipkart in India.

The actual fact that Snapdeal is valued at a billion dollars today is a proof to the vision of its founders. Currently, more than 150,000 sellers sell around 12 million products on Snapdeal. The company’s phenomenal growth in a short span has been a remarkable journey. The company began to concentrate on building scale and improving speed. In just two years, the company went from scrapping their group coupon business and starting an online marketplace to become a billion dollar company. Its year on year growth is almost 600%.The average age of the workforce at Snapdeal is 25. Their values – Innovation, Change, Openness, Honesty and Ownership drive them to press for greater success. The company’s growth had been phenomenal but it is their continued effort to bring the best to the market and their zeal to succeed as the best B2C marketplace is what sets them apart. Great ideas might be important for a business, but it is the confident implementation of those ideas and the right effort, which are more important. It is action and not mere thought that gives results.

Core Values Company takes pride in their culture. Some core values that have been inherent and are an integral part of their success story. These values are a pure reflection of what is important to them as a Team and Business. The 5 core values are:

Innovation: Creativity is at the core of their business values. The team is given the freedom to take informed, responsible risks.

Change: They are ever evolving and believe in driving change, embracing every opportunity with open arms.

Openness: They encourage every team member to share ideas and feedback openly thereby building strong relationships built on Trust and Faith.

Ownership: Every member owns the task they take up. They foster collaboration while building individual accountability.

Honesty: Believe in doing the right thing under all circumstances.

Mobile Thrust :

Of a total of 210 million Internet users in India, 155 million users access the web through mobile devices. Like most e-tailing companies, Snapdeal has also its own mobile app. Indeed, few months ago, when mobile visitors to the site were just five percent of the total, Bahl and Bansal created a separate team for mobiles and urged it to compete with the PC team. This strategy worked in favor of the company and soon the mobile traffic climbed and the result can be seen in terms of orders coming from mobile. Now between 70 and 80 per cent of the orders come over the mobile. It is predictable that the figure will rise to 85 to 90 percent in the coming two years. “On mobile, the conversion is over five per cent, and that is 20 per cent higher than over PCs. It makes a lot of difference,” says Bansal.

Expanding Product Base :

Snapdeal is now the second-largest e-tailing company after Flipkart . It has about 50,000 merchants selling five million products on its site, adding a product every 20 seconds. Comparatively, Flipkart remains primarily inventory led, with only 2,000 sellers. The only company that comes close is ShopClues, an online marketplace which targets Tier-II and Tier-III towns. Radhika Agarwal, Cofounder, ShopClues, says it also has 50,000 sellers. eBay, the world's largest open online marketplace, in comparison, has 45,000 sellers in India. Snapdeal focused on provision of availability of products at the best prices based on Market –Place led model instead of Inventory –led model.

Snapdeal.com follows an umbrella e-commerce strategy, and has added lifestyle products and consumer electronics to its daily deals section. Deals appealing to masses are offered. The model will continue with daily deals but services categories like restaurants, spas, gyms, movies, etc. joining the race; it will be inevitable for the company that the model of daily deals on services and products merge because of the same customer segment. To tap a large user base, this strategy will prove fruitful to the company in order to achieve scale. Commitment: Shipment with 24 hours Promising delivery in two days and others followed suit.

Marketing Strategy :

When launched, Snapdeal was first of its kind. When it was establishing its niche in the industry, websites like mydala.com and DealsandYou came as its core competitor. But working and focusing

primarily on its goal, within 2 years, Snapdeal succeeded in making 8-9 million user base. They entered in top 100 Indian websites in terms of traffic.

To further increase their members and traffic, they started referral programs on their websites in which a user was paid a fixed amount for successful sign up of a friend after receiving the referral link to use Snapdeal. Other than this, they started “Get your first deal free” offer, which got huge response from the user side. This led to the strong brand value of Snapdeal. Side by side to these strategies, affiliate marketing campaign was also working. This campaign was launched after 8-9 months of its inception. They started cost per lead (CPL) campaign in which the affiliates were paid Rs. 30 for each lead generated. But the problem was that the margin was very less related to cost per acquisition that was very high and the average revenue generated on each transaction was approx. Rs. 50-100.

But Snapdeal knew how to remain in the market and for this they kept on promoting themself in any situation. After leads were generated, an aggressive email marketing campaign was launched to reach out those leads. Every day on regular basis, promotional emails were sent to the registered users.

But it was not the end. The names like Myntra and Flipkart were entering the market at the same time. So to survive in the market, Snapdeal started to add more products listing into their website. Soon Snapdeal ventured into a proper e-commerce site including categories like electronics, fashion, kitchen appliances, apparels and many more. Finally in September 2011, Snapdeal turned into a marketplace.

CRM Vision :

To create India’s most impactful digital commerce ecosystem that creates life-changing experiences for buyers and sellers. Snapdeal has two major segments to cater.

Seller

Customer

Snap deal

In its endeavor to make online business easy, Snapdeal has pioneered with a host of industry-first initiatives to help its sellers grow and prosper.

Snapdeal provides expert assistance through its Advisors who help sellers manage their online business.

Sellers also get free training & support and all the information they need for carrying out their business.

Snapdeal has also partnered with leading banks and runs a programme called Capital Assist that helps sellers fund their growth by getting unsecured loans at low interest for their working capital requirements.

Snapdeal also provides sellers with free inventory storage and faster, hassle free deliveries through a service called Snapdeal Plus.

Snapdeal also helps sellers get in touch with professionals and experts for their various requirements such as Onboarding, Cataloguing, Photography, Business Consulting, etc.

CRM Software used by Snapdeal is Salesforce.

IT Architecture :

Snapdeal Cirrus : A cloud on the fingertips

Public clouds have always caught the imagination of developers, CIOs, CFOs alike. But public clouds aren’t necessarily cheap at scale; neither is running own datacenters. So Snapdeal launched its new hybrid private cloud named ‘Cirrus’.

Causes for shift from a public to a private cloud:

Escalated bills due to heavy scale of operations Increased expectations of more performance from the infrastructure Cropping issues over data security and sovereignty

The private cloud was made to be elastic, scalable and completely automated to build, manage and use.

Salient features of Snapdeal ‘Cirrus’:

Services oriented architecture – The entire technology architecture has been built in-house and it’s custom made. The fully distributed service oriented architecture is made up of mainly standalone subsystems.

Pool of motivated engineers - Engineers are convinced that what they built directly affects their life and the lives of people around them. Teams don’t own technology deliverables, they own business metrics, that directly impact the business.

Improvements and key success factors:

Technology supports many read and writes concurrently, that is atleast ten times more than what the requirements were.

The burst response times clocked at 5 milliseconds, and that is the case 95% - 99% of times, which is a phenomenal achievement, in terms of process efficiency.

The model was cost-effective, in terms of getting support for the technology as well as the cost of hardware. Moreover, the performance was consistent.

CRM Framework :

The CRM platform for snapdeal is completely controlled and maintained by Salesforce. Both the sellers and buyers predominantly use the platform. CRM for snapdeal is a part of ERP solutions implemented. Apart from CRM, for administrative purposes, for maintaining customer data, creating dashboards etc. ERP is used.

Key Performance Indicators:

Strategic Planning with thought-through rationale and clear targets. Acceptance by all relevant departments Staff training and continued support

The Email Marketing platform is used for post sale promotion activities.

For the sellers, CRM is used to get them on board. The application is targeted to create Sellers as Leads and then further transactions like Seller Registration Form sent to seller, validated by Sellers on boarding team. After complete evaluation Lead is converted in an Account and Seller is on boarded and further given panel access for products listings.

Analytical CRM :

Key features of Analytical CRM

Seizing all the relevant and essential information of customers from various channels and sources and collaboratively integrating and inheriting all this data into a central repository knowledge base with an overall organization view.

Determining, developing and analyzing inclusive set of rules and analytical methods to scale and optimize relationship with customers by analyzing and resolving all the questions which are suitable for business.

Implementing or deploying the results to enhance the efficiency of CRM system and processes, improve relationship and interaction with customers and the actual business planning with customers.

Combine and integrate the values of customers with strategic business management of organization and value of stakeholders

Advantages of Analytical CRM

Leads in making more profitable customer base by providing high value services. Helps in retaining profitable customers through sophisticated analysis and making new customers

that are clones of best of the customers Helps in addressing individual customer’s needs and efficiently improving the relationships with new

and existing customers. Improves customer satisfaction and loyalty.

Different Analytics

Customer Analytics - This is the base analytic used to analyze customer knowledge base. It provides a better view of customer behavior and by modeling, assessing customer values and assessing customer’s portfolio or profiles and creates an exact understanding of all the customers.

Marketing Analytics - This helps discovering new market opportunities and seeks their potential values. It also helps in managing marketing strategies and scale and plan marketing performance at district, regional and national levels. Marketing analytics also focus on campaign management and planning, product analysis and branding.

Sales Analytics - Sales analytic provides essential environment to plan, simulate and predict sales volumes and profits by constantly analyzing organizational sales behavior. It helps in pipelining all the selling opportunities in an efficient way by indulging and improving the sales cycle.

Service Analytics - Analytical CRM has major role in enhancing the services which answering all the questions regarding customer satisfaction, quality and cost of products, complaint management etc. It even helps in improving and optimizing the services by sophistically analyzing the service revenue and cost.

Channel Analytics - This type of analysis helps to determine the customer behavior on channel preferences, like web channel, personal interaction, telephone channel etc. This information is efficiently integrated in customers’ knowledge base so that they can be contacted accordingly.

Segmentation :Below are some of the factors that SNAPDEAL takes into account when creating strategies for targeting specific customer segments:

Demographic Segmentation

Gender (e.g. creating a male and female-focused version of your newsletter if you sell to both genders)

Age (e.g. creating a student discount campaign for those that fall into the right age bracket) Location (e.g. creating personalised ‘visit your local store’ campaigns to get people shopping offline)

Customer Lifecycle Segmentation

a) Recency

Recency refers to the last time somebody shopped with you. Though the boundaries you set will depend on what type of business you’re running, you’d typically want to segment your customers into the following:

Active - those who have shopped recently, say in the last 6 months At risk - those who have previously purchased from you, but have not returned to make a purchase

in the timeframe you’d usually expect (e.g. between 6 and 12 months) Lapsed - those that have purchased previously but have gone way beyond the point you’d usually

expect them to return to make another purchase (e.g. 12 months +)

b) Frequency

Frequency refers to how often somebody has shopped with you.

Prospect/lead - someone who hasn’t shopped with you at all One-off customer - somebody who has made a single purchase from you Repeat customer - somebody who has made more than one purchase from you Loyal customer - someone who has a sufficient number of times to be considered ‘loyal’ (usually 3 or

4)

c) Lifetime value

It’s also important to look at the amount that customers spend with you - after all, there’s a huge difference in revenue gained from a regular shopper who only buys discounted products and one who consistently buys high-value items.

Usually a VIP/top/medium/low scale might suffice, ranked either by average order value (AoV), historic customer lifetime value (CLV) (i.e. the total amount that a customer has spent with you), or even predictive CLV (a projected view of how valuable a customer will be to you).

Product Affinity Segmentation

While the above section covers the ‘right timing’ aspect of relevancy, getting the ‘right message’ in front of your customer is crucial, too, if you’re going to attract their interest.

Using data from an individual customer’s behavior, and from trends in your customer base as a whole, it’s possible to personalize your messaging by segmenting based on:

Products or categories viewed Products or categories purchased Products or categories most likely to result in cross-sell

Multichannel Strategy :

The e-commerce giant uses multiple channels to reach its huge customer base. It uses both traditional and modern day channels to endorse its brand and inform its customers about the deals and promotional events.

The traditional channels include printed-paper ads, television endorsements, hoardings, etc.

It often engages in ad wars with its competitors to grab the attention of consumers during certain events and occasions. There are certain events for which print is used to deliver that last mile nudge so that it sticks to the memory of the consumers. It is done to leverage the strength of number of readership that certain newspapers have.

According to week 41 (October 8 to 14) of the BARC Ratings, Snapdeal continued to be in the list of ‘Top 10 Brands’ among the top spenders from the e-commerce lot on TV. It moved one place up to No 5 with 17,860 insertions as compared to previous week’s 19,143 insertions. Week 39 was the first time when the brand entered the list with 18,177 insertions. The increase in spends by the brand on TV and also on the other mediums, happened on the back of Snapdeal allocating Rs 200 crore as marketing spends for a span of two months. The brand has recently gone for a new positioning titled ‘Unbox Zindagi’ or Unbox Life, as it seeks to position itself differently in the hyper-competitive e-commerce business.

While advertising through billboards, hoardings and usually any offline methods is considerably more expensive than online advertising, Snapdeal as most of the hot startups doesn’t mind shelling out the dough to create a brand recall and stand out from the clutter. It makes perfect sense to not only capture the ready online audience, but also onboard and engage a potentially huge and captive offline audience on its platform.

Along with several traditional channels, Snapdeal also utilizes other platforms to catch the attention of its consumers as well as others. Digital media platforms like twitter, facebook, instagram, pinterest, etc. are equally exploited to increase sales and draw powerful insights about customers which helps in designing customized deals for privileged customers. With growing power of social media and ever increasing Internet penetration in the country, the digital platform provides one of the strongest channels to register the brand in the psyche of the customer.

Of a total of 210 million Internet users in India, 155 million users access the web through mobile devices. Like most e-tailing companies, Snapdeal also has its own mobile app for android, ios and windows. Indeed, few months ago, when mobile visitors to the site were just five percent of the total, the founders created a separate team for mobiles and urged it to compete with the PC team. This strategy worked in favor of the company and soon the mobile traffic climbed. Now between 70 and 80 per cent of the orders

come over the mobile. It is predictable that the figure will rise to 85 to 90 percent in the coming two years. On mobile, the conversion is over five per cent, and that is 20 percent higher than over PCs. When launched, Snapdeal was first of its kind. Working and focusing primarily on its goal, within 2 years, Snapdeal succeeded in making 8-9-million user base. They entered in top 100 Indian websites in terms of traffic. To further increase their members and traffic, they started referral programs on their websites in which a user was paid a fixed amount for successful sign up of a friend after receiving the referral link to use Snapdeal. Other than this, they started “Get your first deal free” offer, which got huge response from the user side. This led to the strong brand value of Snapdeal. Side by side to these strategies, affiliate marketing campaign was also working. This campaign was launched after 8-9 months of its inception. They started cost per lead (CPL) campaign in which the affiliates were paid Rs. 30 for each lead generated. After leads were generated, an aggressive email marketing campaign was launched to reach out those leads. Every day on regular basis, promotional emails were sent to the registered users. But it was not the end. Soon Snapdeal ventured into a proper e-commerce site including categories like electronics, fashion, kitchen appliances, apparels and many more. Finally in September 2011, Snapdeal turned into a marketplace. Currently its website holds the Alexa rank of 13 among Indian websites. Now Snapdeal has started the new “Snap-Lite” mobile website to compete with “Flipkart Lite”.

Apart from the aforementioned channels, Snapdeal also engages in promoting its deals and offers on social media websites like Facebook, Twitter, Instagram, etc. It also uses these websites to gather leads about customers, which is then analyzed with CRM tools to design appropriate strategies to retain existing customers and lure new customers to be a part of Snapdeal’s consumer base.

Multichannel Integration :

Snapdeal, India’s largest online marketplace launched its omni-channel platform few months before to provide an integrated channel for both offline and online customers. A global first by an online marketplace, the platform integrates offline and online retail channels to provide a seamless and differentiated shopping experience to customers. Through this platform, customers shopping on Snapdeal will be able to enjoy the convenience of online discovery and ordering along with faster hyper-local fulfillment. Omni Channel will allow them to access value added and expert services as a part of their purchase, including demonstration, installation, activation or returns at a store near them.

Snapdeal’s omni channel platform powers an ecosystem of leading brands, large format retailers (LFRs), small businesses and technology start-ups. The first categories to go live on omni-channel were mobile phones in partnership with The Mobile Store (TMS), automobile tyres with Michelin, invertors and batteries in partnership with Luminous and fashion products with Shoppers Stop.

Snapdeal is the first online marketplace to launch an integrated omni-channel platform, opening a new chapter in enabling the success of retailers and brands in India. The platform is called “Janus”, referring to the Roman God of beginnings, transitions, gates, doors and doorways. This platform blurs the lines between offline and online retail, demonstrating that both channels can act as gateways to each other.

Various studies have shown that consumers switch between online and offline before making purchase decisions. 77% of consumers browse in stores before making a purchase online and 55% consumers conduct on-the-go mobile research before making a purchase in-store. In certain categories of products like mobile phones, majority customers follow up their online purchase with a visit to the store for accessing related services like data transfer, screen protection etc. These trends clearly indicate a need to create channels for customers to seamlessly access the benefits of both online and offline to create a delightful buying experience.

Customers are able to access these services at the nearest store if they chose the pickup option. These services are available across 70 cities in India. Similar value added services are available across product categories through the omni-channel platform. Snapdeal looks forward to scaling up this ecosystem by leaps and bounds in the coming months with more like-minded partners.

Contact Centre Service :

Snapdeal has an extensive contact centre service which provides services like order tracking and delivery, order cancellation, return/replacement, refund, payments and EMIs, managing accounts and alerts, add-ons, promos, reviews, seller support, freecharge account, Snapdeal gold, exchange offers, etc.

Snapdeal Gold is the latest offering to enhance the online shopping experience. There are multiple benefits to upgrading the order to Snapdeal Gold:- free next day delivery in eligible PIN codes- free standard delivery- extended purchase protection

These benefits apply on all Snapdeal Fulfilled (SD+) orders placed against any of the following pre-paid payment modes: Credit card, Debit card, Net banking, Credit card EMI, FreeCharge Account, SD Gift vouchers.

Metrics to measure the impact of CRM :

Defining the right metrics to track success and prompt corrective action is a critical best practice for getting more value out of customer relationship management (CRM) initiatives. With modern CRM systems straddling multiple departments, disciplines and channels, choosing the right metrics are of utmost importance.

The five key values that define the critical path to success in any CRM implementation are strategic alignment, user involvement and acceptance, improved process effectiveness, information sharing and visibility. Every organization should have a vision for CRM implementation. A company must implement a CRM solution that is strategic and aligned with its goals. Without a clearly defined set of goals and requirements that directly support strategies and related business processes, a CRM project is sure to fail. Solutions should be implemented so that they are accepted and embraced by all system users. If you don't gain user acceptance, then it won't matter that you picked the king of CRM applications or that you effectively identified business process improvements. CRM must automate business processes and formalize best practices that will improve the overall effectiveness of the company's sales, marketing and customer support efforts in a way that aligns with the business' goals. When a solution is put into place, you must facilitate information sharing between departments. Complex interdependencies require that multiple departments share information seamlessly. Finally, provide

visibility into key performance metrics through reports and dashboards. The sole purpose of a CRM solution cannot be a report generator.

The major areas within an organization to measure the success of CRM initiatives are sales, marketing, service, social media, website and supply chain and logistics. All these areas have different metrics to determine the success of CRM implementation. Below we look at the metrics that determine the success in these areas.

Sales• Renewal rate

• Number of new Customers

• Number of retained Customers

• Amount of new revenue

• Close rate

Marketing• Number of campaigns

• Number of campaign responses

• Number of campaign purchases

• Revenue generated by campaign

• Number of new customers acquired by campaign

• Number of customer referrals

• Number of web page views

• Customer lifetime value

• RFM

• Customer Acquisition costs

Service• Number of cases handled

• Number of cases closed the same day

• Average time to resolution

• Average number of service calls per day

• Complaint time to resolution

• Number of customer call backs

• Average service cost per service interaction

• Percentage compliance with SLAs

Social Media• Conversation Buzz

• Conversation Value

• Conversation Volume

• Demographic Metrics

• Message Reach

• Sentiment Type

• Share of Voice

Website• Visitor count

• Page hits

• Duration

• CTR

• Registered users

Supply Chain and Logistics• Fill rate

• On time ship rate

• Performance to promise

• Backorders

• Customer order cycle time

• Perfect Order Measure

CRM cannot be approached as a tactical exercise if it is going to generate positive effects and returns. In order to succeed, it needs to be driven by strategy and a high level of attention to the key performance metrics.

Customer Feedback (Primary Research) :

We conducted a survey among the Snapdeal customers to understand their satisfaction with Snapdeal. We floated a questionnaire (https://goo.gl/forms/CKNBG22j4FMudptv1) and asked them to participate in the survey. Among the people surveyed we also tried to find out the reason people are not using Snapdeal.

Based on the feedback, we found out that of the 74.5% people using e-commerce, only sites 64.7% people are using Snapdeal.

Further, the user experience of using Snapdeal was overall satisfactory. The share of people having negative experiences was very less with most people having either positive or neutral views.

The Snapdeal customer service was also found to have resolved 66.7% of the use issues with complete satisfaction. Also 51.5% of the user found the Snapdeal brand to be as good as other brands in e-commerce industry.

The Snapdeal customers were however undecided on the fact that they will reuse and refer Snapdeal, with only 27.3% and 33.3% users respectively we absolutely sure they will reuse and refer Snapdeal.

The CRM initiatives by Snapdeal also received positive feedback from users, with 51.5% users satisfied with its effort to improve customer relationship.

Employee Feedback (Primary Research) :

A short questionnaire (https://goo.gl/forms/7GeuJDGbm3BmTQs93) based survey was conducted among the Snapdeal’s employees to understand their insights into Snapdeal’s CRM initiatives. At a broader level there was a positive response among the employees regarding the CRM initiatives but they believe there are rooms for further improvements.

The employees believe that the organization gives great value to customer relationship and customer needs.

The feedback from the employees also gave the insight that 76.5% of the employees believe that organization is doing satisfactory work in attracting new customers but the it fails in providing customer service at every point of contact as only 47.1% employees are satisfied.

Further, 76.5% employees believe that customer data is stored in the company database for future needs and the work environment of the company received 52.9% affirmative reactions.

The employees have a positive reaction to the CRM initiatives of Snapdeal overall but they still believe that the organization needs to improve its CRM initiatives further.

Internal CRM Implementation :

Companies that enter to compete in a new market weaken the existing and solid ones, due to new ways of doing and conceiving businesses. One of the factors that have driven all these changes is the constant change and evolution of technology. Because of this reality, the CRM concept has evolved in such a way that nowadays it must be viewed as a strategy to maintain a long-term relationship with the customers. A good customer relationship is the key to business success. Relationship building and management, or what has been labeled as relationship marketing, is a leading approach to marketing. The use of customer relationship management (CRM) systems is becoming increasingly important to improve customer lifetime value. Understanding the needs of customers and offering value-added services are recognized as factors that determine the success or failure of companies. The first requirement for the successful implementation of CRM is clarity regarding CRM terminology. From the many approaches available, the distinction between the following three areas has become generally accepted.

Operational CRM supports front office processes, e.g. the staff in a call center. Operational integration points exist to human resource systems for user data and ERP systems for transferring order information which was captured e.g. from a call center representative. From an operations perspective, Bose pointed out that CRM is an integration of technologies and business processes that are adopted to satisfy the needs of a customer during any given interaction.

Analytical CRM builds on operational CRM and establishes information on customer segments, behavior and value using statistical methods. It is useful for management and evaluation purposes, the operational customer data are integrated with a centralized data warehouse which is consolidated data based on certain criteria (e.g. sales, profits). Here the data mining tool analyses defined dimensions, e.g. compares the characteristics of one customer with another, leading to the determination of a customer segment and thus providing the basis for a targeted marketing campaigns

Collaborative CRM concentrates on customer integration using a coordinated mix of interaction channels (multi-channel management), e.g. online shops, and call centres. Approximately 60% of the companies surveyed use internet portals in their customer communication for selected or suitable activities

CRM is therefore understood as a customer-oriented management approach where information systems provide information to support operational, analytical and collaborative CRM processes and thus contribute to customer profitability and retention. While potential benefits are attractive, CRM implementation must be managed carefully to deliver results.

Various functions of the CRM modules of Snapdeal are :

Information about customers is stored in disparate applications as the employee empowerment is very high. This customer related information from various systems needed to be brought in, analysed, cleansed and distributed to various customer touch-points across the enterprise, so that the various stakeholders – marketing, sales and engineering teams see a single version of ‘truth’ about the customer.

This single source of customer data can be used for sales, customer service, marketing, etc. thereby enhancing customer experience and reducing churn-rate. Churn-rate measures the number of customers who have stopped using the company’s products.

By storing information about past purchases, sales team can make customized selling or personal recommendations to the customer. Also, this helps in up-selling or cross-selling opportunities.

Capability to improve current sales forecasting, team selling, standardizing sales and marketing processes and systems.

Support direct-marketing campaigns by capturing prospect and customer data, provides product information, qualified leads for marketing, and scheduling and tracking direct marketing communication. Also, it helps the marketing team fine-tune their campaigns by understanding the prospect of customer conversion.

To help engineering in understanding market demand for specific product designs and act accordingly.

Single out profitable customers for preferential treatment, thereby increasing customer loyalty.

Easing sales account management through consolidated information.

Conclusion :

Generate Higher ROI on Marketing Activities-o Create and execute campaigns across marketing channelso Capture leads directly into CRM Systemo Measure return on investment of campaigns

Increase the Productivity of Your Sales Force-o Organise sales information into a single systemo Improve the productivity of sales individuals and teamso Gain greater visibility into sales performance

Create a Consistent Customer Experience-o Central Repository for customer support and product issues.o Share knowledge and case resolutions across teamso Reduce costs through customer self-service