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Customer is the king of market and to keep them satisfied is crucial for any business. Because of the same reason there is huge increase in the concepts that aim to develop the relationship with buyer as it has a positive impact on the final performance of the company. CRM i.e. customer relationship management is an application through which communication and interactions with the potential buyers are raised with an aim of improving the current state of business (Lustig, 2018). Blart ingredients produces spice since 1963 in Bristol. It was founded by Jim and Jane Blartam. Later, with a realised demand for spices it also started producing same and became the second-largest brand in the UK. The following report will discuss in detail what CRM is and how it is important for the chosen organisation. Steps to develop same will be elaborated along with the tools that are utilised for building and implementing the insights.
CRM is a technology through which an organisation maintains and also develops all the relationships with the customers. With the increase in the total competition in the world it is necessary to remain in the direct contact with the clients as it helps to sustain them with the brand and hence the performance of the business can be maintained and improved in the long run (Maklan, Peppard and Klaus, 2015). With the solutions of CRM issues of the different stakeholders like suppliers, buyers, colleagues and other are resolved as it helps on focusing on their issues which has to be resolved on time.
Role performed by CRM in Improving the Financial Results of the Company:
I. Find the Right Customer – There is mixed crowd in the market and to identify who is best suitable for business is very much important as the total revenue depends much on the same. Much expenses are done by Blart ingredients on their marketing activities. This expense is waste if the promotion does not add significant number of new buyers to the brand. With the help of CRM tools, the most potential segment of the customer is identified which can actually be affected by the marketing and will convert in to the potential buyer of brand. This way the total revenue will be improved and much cost of the business will be controlled by avoiding unwanted marketing.
II. Develop More of a Sustainable Relationship – CRM is more of customer centric approach and aims at giving maximum satisfaction to the clients. Through it the unhappy customers with the brand are identified and then by resolving their issues concern with the product they are made to be neutral (Peppers and Rogers, 2016). Once their problem with the company’s offerings is resolved they do continue their purchases and get the satisfaction as now what they get is complain free. Hence this way the unhappy customer is converted into loyal buyer for business which has direct impact on the financial performance of the company. Sales which were declined due to the increased number of unsatisfied people will be again raised up to the desired level. Blart ingredients this way can implement the CRM in its organisation and can experience a favourable change in its financial results.
III. Minimises the Cost of Sales – Applying and installing of CRM application in the business do not demand much of the installation cost as it is a cloud based system. If the results which it gives to the company is compared with the expenditure which it demands than it will be found that the return on investment is very high. It will further assist Blart ingredients to operate from any corner of the world which adds flexibility to the operations of the organisation. It again has a positive impact on the total financial results of the referred to enterprise.
IV. Raise the WorkForce Capacity – When all the work by human resource is done without having a set pattern or vision it increases the total work pressure and also more time is consumed by the employees. Whereas if the same process is carried out with the application of customer relationship management techniques then there are greater chances of saving much quality time of the workforce. Most of the work can be done automatically instead of doing it manually which can help the personnel in saving their quality time which can be further invested on more productive activities of the firm (Savitz, 2013). This way capacity of every individual will raise and hence they will contribute more in the revenues.
V. Deliver Quality Services – In the above discussion, it is analysed how with the CRM company is benefited to deliver the products on time and to more area. When the same product is delivered in the market but is supported with after sale services, better attention to clients, considerations to demands of the customer is given it improves the value of the same commodity. Blart ingredients if follows the CRM than will be able to develop the smooth connections and will develop trust among the customers of the brand.
Blart ingredients wish to develop its overall business by raising the total number of cooks who are using the material of this brand in their cooking so that they can generate more revenues. Apart from this along with the number of buyers the profit per client also wish to be increased as it adds more value to the products of the company (Ángeles Oviedo-García and et.al., 2014). for same there are different routes which can be adopted by the company and each one has their own benefits and drawbacks. A brief introduction to the distinct routes that are adopted by the company are given below:
Business to Business (B2B) – This is the method of making sales in which company do not interact with the final customer but sales in bulk to the different intermediaries. It includes various supermarkets, retail outlets. Such units have the international reach and help business in expanding at a huge scale.
Business to Customers (B2C) – Once the product is made available to the different retailers they further sell it to the ultimate costumer. Consumers visit the shops nearby to them and gets the desired item. Blart ingredients is doing it through various channels like Tesco, Sainsbury etc. they help the brand in reaching to the different customers spread in distinct corners.
Direct to Customer (D2C) – It is completely distinct from that of B2B routes. Here the origination sells whatever it produces directly to the customer and save the cost of intermediaries. Here for Blart ingredients this direction is most suitable as it will assist in maximising the sales to those who can be the long lasting clients of the brand like cooks of the different commercial places (Roberts and Alpert, 2010). It is the objective of the firm to raise the total number of cooks who does the use of this ingredients. Also once the product is favoured by them company by using the strategy of price penetration can improve the revenue per customer. It would be possible as once the cooks are satisfied with the ingredients of Blart they would not switch to other brand easily.
In order to this it is very much required that company do build the proper and appropriate CRM strategies in its operations as this can assist in the achievement of the desired goals. the application of this concept can be done in the following manner:
Establish a Purpose– This is the first step at which desired destination need to be established by the company and it is a base or reason behind adopting the customer relationship management technology (Price and Wrigley, 2016). Once it is determined that where company wish to reach it can plan accordingly the use of CRM in business. Here as Blart ingredients has the objective of increasing its sales volume and profit per customer it can break this goal into small parts and group the similar activities. once it is done than the achievable goals need to be map out in which it is determined that how the different steps towards the goal accomplishment will be completed. It is necessary that whatever mapping is done is changeable if there is a need which occurs along the way.
Prioritise your Customer –Once the above step is performed appropriately eh next work is to divide the total consumers according to their importance for business. This step is crucial as not every customer has same value for the firm. Blart ingredients as has variety of users but there are some who if once associated with the brand will turn out to be the major revenue generators (Dilip Jayaram and Eslick, 2012). Cooks of famous brands restaurants and bars if prefer using the ingredients of this brand than it will develop a long term connection with the company and will contribute much in its sales. after recognising and prioritising the market planning becomes more easy and effective and chances of attaining the desired results further increase.
Communicate with Employee– planning and adopting any technique is only helpful if the work force of the business supports the same or is provided with the complete knowledge of the new concept. To bring Customer relationship management techniques in Blart ingredients they need to take the employees familiar with same. Their involvement in the application of this system is important. Once the work force is involved in the implementation process they also develop the feeling of ownership in the process and hence those who are dedicated in the work will feel motivated. It is because the engagement of the personnel gives them recognition in the company and therefore they put more efforts towards achievement of the final goals (Is strategy necessary for success? 20195).
Stagger your Changes– Not always the changes are welcomed and sometimes the quick alteration in the working of business results into increase in the total work pressure leading to dissatisfaction among the employees. It will further affect the final results as the productivity will be negatively affected. Therefore, to avoid such situation Blart ingredients while introducing CRM must ensure that it is not brought overnight and must be practiced gradually. It will reduce the resistance and will also raise the chances of success of its application.
Start tracking the customer before first contact– This is the next step where company need to focus on the needs and demands of the customers. Blart ingredients should focus on direct to customer sales as it is best suitable in this case. It is because the company is dealing in the sector where maximum revenues can be generated only if the sales ae made in bulk. For same it is important that before making the product available in the market first the requirements of the clients are analysed. On different social platforms where clients put their demand and query regarding what they expect from that product should be studied as this way better satisfactory service can be offered which will have more capacity to create its demand. The most common mistake which is made by many business is that the CRM is not properly applied in the context of business and hence only half of the benefits are thus received. After going through the net and collecting the relevant information lead of the market can be recognised along with its expectations from the product (Key CRM Implementation Challenges for Businesses, 2019).
Synchronising everything to our CRM– there are range of practices that are carried out under the concept of CRM in an organisation. it is important that all such actions are well sync as only than the notes or schedules set that are made can be traced throughout the system. Also if in business some other application as are used which are in any way concerned with the clients should be linked with the technology of the customer relationship management. This would further assist Blart ingredients in organising their meetings with the clients, updating the cancelations and other costumer related issues will be resolved in no time. Only if all the activities are well balanced and connected to one another Blart ingredients will be able to CRM to its full capacity (Peppers and Rogers, 2016).
Evaluate and improve– Once all the required activities are well linked with the CRM application then it should be evaluated that weather it is working in the desired manner or not. It could be done by observing the results for few days that weather improvement in the sales or customer engagement is raised or not. It can be checked through the response company gets on the various platforms where CRM tools and techniques are applied. If results are not as per the set targets than flaws in system needs to be recognised and accordingly the improvements should be made to make sure that the system is doing full capacity utilization of itself.
In the above discussion importance of engaging customers is disused in detail which shows that there are a range of benefits of this practice. There are various tools and techniques which can be used by Blart ingredients to build and implement customer insight and engagement programme can use the following tools and techniques (Is strategy necessary for success? 2019):
Social networks -As the suggested business approach for the referred to enterprise is direct to customers (D2C) this is the most common tool to develop the customer engagement. On a broad concept if analysed then almost 63% of total population use various digital platforms to buy products and services from market. in this case the social sites like Instagram, Facebook, twitter, snapchat plays a crucial role. Conversations with interested buyers can be made and they can be updated with the latest products. It should be well utilised by the chosen enterprise as it will help in getting the referrals, feedbacks and create the brand image at wide area (Savitz, 2013).
Loyalty Programmes– With the assistance of various cell phone applications more of loyalty points can be awarded to the clients. It is observed that many times people switch their spending judgement to fit more of constancy rewards and therefore it should be used by Blart ingredients to attract and develop the customer insight.
Digital coupons– This is an appropriate tool through which Blart ingredients can develop the interactions with the customers. Retail information system shows that redemption rate of such vouchers is high. It facilitates the company with tracking, quality information regarding how buyer behaves against a product, what is most preferred and also from where they do the maximum purchase. By ensuring that these coupons are used and redeemed once only Blart ingredients can improve engagement programs and can also do better business planning.
After discussing the different aspects related to the programme of customer relationship programs it is found that although it is a helpful tool to boost up the sales but has different ethical issues involved in its application in the enterprise. as most of its practices are carried out through the data available on social media it sometimes effects the privacy of the service users. Their personal information and locations are used to create connections with them which is against the social ethics. Public use the different digital platforms with distinct objectives and trust same. Sharing of their information without their consent is against the ethics. Apart from this from companies point of you if there is shortage of provision from the IT departments or vendors of existing systems that is essential to be combined with CRM, the whole incorporation course can be a massive liability and can result into wastage hours of working time of your staff without any visible results (Price and Wrigley, 2016). It is advisable to plan integration needs, if any, in advance to avoid CRM execution overkill. It is also found that in some cases different treatments are given to the customers in which more privileges are given to one buyer over other. it although influence a group of users but is not encouraged by those who are ignored during this practice. Like for instance in order to influence sales marketers give attractive offers to the new users like promotion coupons, codes which facilitates them with reduced cost of the product. This is unfair to those who are loyal to brand. They find it against their interest and discourage such practices or switch to other brand in order to redeem the same advantage of being a fresh user.
Illustration 1: CRM issues leading to matters of fairness and trust, 2019
From the above report it is analysed that CRM is an effective approach for business organisations to do better business. It assists in raising the connections with the buyers and help in developing long term relations with the, it facilitates better services and can take business to a higher level if application of same is done in appropriate manner. it is important proper consideration is given to the implementation of customer relation management tools and techniques as failure in this might result into wastage of significant resources of the firm. Though most of the issues involved with this practice cannot be ignored as it although they are not ethical but are fare on legal grounds, emphasis should be given on being least involve in such actions which are not in favour of society as this will further raise the brand value.
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