Customer Relationship Management-C.R.M

Written by: Nithin Narayanan

Retail as many other sectors depends upon how well the customers are with the products and services offered. In other words customer satisfaction is paramount in retail. It is here that customer relationship management comes into play. As retail grows in size and sophistication managing customers can become increasingly difficult.

There are many ways to build relationship with you customers-

Be proactive in meeting customers and take interest in what is happening in the stores.

Create measures or events where there is an interaction between customers and retailers such as Promotions.

If there are any problems with the products or services, take keen interest to solve the problem and work to create to a positive shopping experience for the customers.

 As far as problems are concerned, it should not be allowed to fester and should be dealt quickly and honestly by the retailer. Never allow the problem to escalate.

 
Try to understand the root cause of the problem.

Come up with a solution and ensure that customer is happy with it.

Take the solution  forward and implement it.

 
The thumb rule here is not to hide the problem. If one does hide it, the customer would remember that.  Hence Honesty is the best policy here.

 
One aspect that helps a retailer to position itself in the customer's mind is Exclusivity. Exclusivity of the product depends on what the customer has offered you – at the end of the day you are trying to sell a product to them. There is often very little benefit to exclusivity and competition from other products is healthy and, in the long run, can be beneficial by encouraging you to develop.

Remember you should always be aiming to keep control of the elements which will give you future growth potential for the business.

 
 In short managing the customer is a constant and evolving process and always try to make the relationship a success as success breeds success.

 
1. Be determined, persistent and innovative.

2. Plan your approach; use contacts and known sources.

3. Find the win-wins in the relationship

4. Build the relationship on honesty and trust.

5. Solve problems head-on, quickly and openly.

6. Develop the relationship to develop your business.

7. Keep you customer informed, be a useful source of information to them.

8. Never become complacent about your relationship with the customer. You must believe in your product and sell that belief to the customer.