A furniture store with 10 locations is considering using CRM to increase sales t

Question

A furniture store with 10 locations is considering using CRM to increase sales to customers that have previous purchased products outright and have financed products through the chain's credit arm. As a stellar store manager, you have been handpicked by the CEO to help with this initiative. Write a 2-page memo to the CEO brainstorming what CRM strategies you might use, how the company might benefit and what type of system or data collection (or previous data collection) the company could use to gather information and put the information together in a platform.

Explanation / Answer

Due to time constraints for attempting these questions, writing a 2 page memo will be a bit of a stretch. However, I am giving you pointers that you can possibly expand and ready the final document.

Operational CRM

At the customer touch point, the front office operation should have CRM capabilities. Customer interaction details should be added in terms of previous buying history and product preferences.

For existing customers this information should be retrievable, no matter which location of the store they are located at.

General Areas of CRM

Sales force automation. Within this, tracking of customer preferences, demographics, lead management should all be critical components.

Customer Service and Support. Automation and coordination in terms of service requests, product returns, customer complaints and enquiries should be there.

Marketing Automation

Intensive use of technology and analytics to predict customer behavior and leveraging the same to generate lead and sales. Usage of segmentation tools to create customized marketing campaigns.

Use analytical CRM for up selling or cross selling, customer retention and information delivery

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.