Pegasus Case Study

The Client

The Company is leading Manufacturer in decor designer laminate sheet, decorative laminates & designer wood laminate in Gandhidham, Gujarat.

Introduction CRM or Customer Relationship Management is a system which aims at improving the relationship with existing customers, finding new prospective customers, and winning back former customers. This system can be brought into effect with software which helps in collecting, organizing, and managing the customer information. Implementing a CRM strategy is advantageous to both small-scale and large-scale business ventures.

The ultimate purpose of CRM, like any organizational initiative, is to increase profit. CRM aims to achieve mainly by providing a better service to your customers than your competitors. CRM not only improves the service to customers though; a good CRM capability will also reduce costs, wastage, and complaints. Effective CRM also reduces staff stress, because attrition – a major cause of stress reduces as services and relationships improve. CRM also helps to grow business: customers stay longer, referrals to new customers increase from increasing numbers of satisfied customers and overall the organization’s service flows and teams work more efficiently and more happily.

The Objective To see the pain points of client before installing CRM

    • No follow-up
      You can end up leaving a lot of money on the table when sales leads aren’t followed up systematically. CRM provides the processes, templates, reminders and workflows that increase follow-ups, leading to more closed sales.
    • Inefficiency
      Many business owners underestimate the time staff spends on repetitive task and searching for customer information or ignore it. Since CRM is process-based, it eliminates much of the inefficiency that plagues companies and hurts profitability.
    • Lack of continuity
      When employees leave, does key customer information go with them? If you don’t have a CRM that can be consistently used to maintain customer information, you may have to start from scratch when a sales employee leaves the company.
    • No visibility
      Employees may be pulling the wool over your eyes and not actually making the calls and follow-ups although they say they are. CRM provides the visibility you need into your staff’s productivity – by team, by manager and by individual.
    • Inability to plan strategically
      Without a good monitoring system, you run the risk of missing potential problems. Through key performance indicators and reports, CRM provides insights to proactively adjust your sales course and mitigate potential issues.
    • Clash of departments
      The classic divide between marketing, sales and customer service often causes finger-pointing, disagreement and lack of clarity over your marketing team’s lead-generation numbers, what your sales team is doing to follow up on those leads and what your customer service team is doing to keep your customers happy. CRM provides accountability within each department and across departments.
    • Inability to measure ROI
      You can’t calculate the real return of your marketing budget if you can’t measure the revenue attributed to each marketing initiative. With a CRM system you can directly correlate marketing spends with sales closed to track return on investment (ROI).
    • Losing a competitive edge
      The greatest risk in not implementing CRM is that your competitors may have already done it and may be picking up your potential customers.

 

Target Achieved

A Manufacturing company had implemented a successful web marketing strategy and was receiving leads daily through the web channel. Initially, the sales consultants manually entered these leads into Excel for follow up. This process was time consuming and prone to error – some data was not captured, and the valuable time of the consultants was being wasted performing data entry tasks. As a result, the business was unable to keep pace with the quantity of leads.

After Implementing CRM software all the leads with accurate data was centralized and manual entry work was decreased. We have customized some reports as per the client requirement, with the help of MIS reports, top management found it very easy to evaluate the performance of Sales team as per the clients requirement.  Improved customer relations One of the prime benefits of using a CRM is obtaining better customer satisfaction. By using this strategy, all dealings involving servicing, marketing, and selling your products to your customers can be carried out in an organized and systematic way.

You can also provide better services to customers through improved understanding of their issues and this in turn helps in increasing customer loyalty and decreasing customer agitation. In this way, you can also receive continuous feedback from your customers regarding your products and services. It is also possible that your customers recommend you to their acquaintances, when you provide efficient and satisfactory services.  Increase customer revenues.

By using a CRM strategy for your business you will be able to increase the revenue of your company to a great extent. Using the data collected, you will be able to popularize marketing campaigns in a more effective way. With the help of CRM software, you can ensure that the product promotions reach a different and brand new set of customers, and not the ones who had already purchased your product, and thus effectively increase your customer revenue.

Maximize up-selling and cross-selling

A CRM system allows up-selling which is the practice of giving customers premium products that fall in the same category of their purchase. The strategy also facilitates cross selling which is the practice of offering complementary products to customers, on the basis of their previous purchases. This is done by interacting with the customers and getting an idea about their wants, needs, and patterns of purchase. The details thus obtained will be stored in a central database, which is accessible to all company executives. So, when an opportunity is spotted, the executives can promote their products to the customers, thus maximizing up-selling and cross-selling.

Better Internal Communication

Following a CRM strategy helps in building up better communication within the company. The sharing of customer data between different departments will enable you to work as a team. This is better than functioning as an isolated entity, as it will help in increasing the company’s profitability and enabling better service to customers.

Optimize Marketing

With the help of CRM, you will be able to understand your customer needs and behavior, thereby allowing you to identify the correct time to market your product to the customers. CRM will also give you an idea about the most profitable customer groups, and by using this information you will be able to target similar prospective groups, at the right time. In this way, you will be able to optimize your marketing resources efficiently. You can also be ensured that you don’t waste a huge chunk of your precious time on less profitable customer groups. The benefits to the client Hot leads coming from the marketing campaign were immediately and automatically entered into the CRM system.

The error-free and timely entry also ensured that all data was captured that the client required. Marketing leads generated by specific Google Adwords campaigns could be flagged as such, allowing the marketing and communications team the ability to measure the campaign using the facilities provided by the CRM.

Customer Relationship Management systems are also important to the top management because it provides crucial data like customer satisfaction and efficiency of service by the frontline crews. A piece of customer relationship management software will also be able to generate the needed reports for product development or new concepts. Furthermore, this system will also be a great help for the top management in deciding the company’s future course of action, whether it involves phasing out one of the products on the shelves or making adjustments to one of the products sold.

The Results

After the successful implementation of the system, the client has continued to process high volumes of daily leads and has successfully launched and tracked many more web campaigns. All the details of the campaign are safely stored inside the CRM system for analysis.

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