The retail sector includes all the shops that sell goods to the customer. In 2014, consumers in the UK spent around £378 billion in retail (House of Commons library- BRIEFING PAPER Number 06186, 2 October 2015), a figure that has been steadily rising for a number of years. However, this sector has become under serious pressure in the recent years, and this is due to the progression and evolution of supermarkets, and the increase in online retailing following recent recession.
Technological advancements have allowed businesses to provide a much more efficient and pleasant online experience, by adapting to the ever changing wants and needs of their customers in fluctuating markets. Technology is revolutionizing the process of engaging with customers; therefore organisations need to be up to date with the latest Omni- channel software in order for them to stay competitive, and to become more adaptive and flexible with their customer engagement. Microsoft CRM is an intelligent customer relationship management system, the hybrid business solution consists of a powerful set of apps, platforms and tools. A business willing to invest in CRM will gain all the benefits of effectively collaborating different customer data, such as; accounts, sales opportunities, leads and account activity in order to achieve valuable business targets and become a successful and prosperous organisation.
Using this as a solution to improve customer engagement will create a whole new proactive customer experience. By creating focused targets when engaging with the customer, the business has the opportunity to gain customer loyalty and deepens their insight to meet the customers’ demands. It also has the capability to predict customer engagement using analytics- with the use of external and internal data to identify trends and patterns to predict outcomes.
There is an endless list of possibilities when meeting customer needs concerning the retail industry, whether it is through segmentation, purchases, retention or promotions. CRM allows you to manage these in a simple and cost effective way that gains the most intelligent customer insights.
For more information on CRM, watch our webcast at https://www.youtube.com/watch?v=yyJnI1ftfh0