Friday, October 4, 2013

CRM for Electronics Dealers: 3 Benefits of an Optimized CRM System

Many electronics dealers, when strategizing on growing their revenues, will focus almost entirely on bringing new people into the store while spending little time and effort in the retention of their existing customer base. This concentration of resources on client acquisition, according to a variety of studies and statistics, ignores the value of the customers who have already made purchases from the store as well as the benefits of retaining them as repeat customers via the implementation of an optimized customer relationship management (CRM) system. These benefits include:
  • A holistic view of each customer’s interactions with the business – Having a system that aggregates information on each customer can reveal product and brand preferences, which can provide opportunities to communicate with customers in a more specific manner. For example, a customer who has a history of upgrading TVs offered by a specific brand can be advised of the next upgrade and when it will be available in the store.
  • More efficient marketing – A CRM system can be used to develop sub-categories of customers with similar purchasing histories, thus allowing the business to market specific products to groups who have already demonstrated an affinity for them. This is a far more efficient practice than marketing to untargeted groups where individuals have already signaled their preference for different brands or are unfamiliar with the products in the campaign.
  • The building of a loyal customer base – Customers who receive communications that are tailored to their interests, rather than generic advertisements, will develop a perception that the business “gets” them, and will hold that business in higher regard than one that is focused on just selling them something.
An optimized customer relationship management system can deliver a variety of benefits for electronic dealers with perhaps the most important one being the opportunity to know what their customers want. This knowledge can then lead to efficient marketing campaigns, higher conversion ratios, and brand building.

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