There is a need for a strong relationship between consumers and suppliers. Several research papers have suggested the same. Therefore, in order to do so a vast number of data is collected and analyzed.
Almost all industries use Customer Relationship Management.
Start-ups, large enterprises, and verticals like real-estate, healthcare, legal, media, restaurants, travel, tax, freelancers, and non-profits all use CRM for increasing their sales, marketing, and customer support efforts. The software works for B2B, B2C, SMBs, and Enterprises.
Retail, Banking, Hotels, Financial Services, Insurance, and Consulting are the top industries that heavily use CRM. Whether an FMCG organization is a small, medium, or large scale, integration of CRM can improve your sales and overall growth.
A CRM software acts as a single destination to bring all your sales, marketing, and customer support on one platform. It streamlines your process, your strategies, employees, and customers in one platform.
With the integration of CRM, one can see a 300% improvement in lead conversion rates.
Signs your company needs a CRM
Lack of centralization- Lack of proper structure to store and analyze customer data can lead to decentralization. CRM software enables you to analyze thousands and lakhs of data in a single click.
Inter department communication- When two departments need to work in synergy, communication is a must. Lack of communication can lead to underperformance and under sales. CRM software allows two or more departments to know what the other is working on. Making inter-department communication strong.
Customer relation- When a sales representative leaves your organization, they tend to take the relationship built with their customers. A CRM software will help an organization train new appointments and speed up their customer relation understandings.
Poor customer satisfaction- Scattered information of thousands of customers makes it hard to analyze. It hinders personalized interactions with customers. This can result in all the customers being treated the same.
Top ranked CRM softwares
Monday.com, Orcale NetSuite, Microsoft Dynamics 365 CRM, ZOHO CRM, Really Simple Systems CRM, and SAP CRM are some of the top-ranked software in the market.
Best for advanced CRM- Salesforce
Top choice for easy to use CRM for SMBS- HubSpot CRM
Ideal for SMBS and Startups- Apptivo CRM
Premier for large companies seeking end-to-end solutions- Sales Creatio
Suitable for sales focused SMBS- Pipedrive
Match for growth stage businesses- Insightly CRM
Fast CRM Software FMCG CRM, Salesforce Consumer goods, and Kapture CRM Software for FMCG are some of the top ranked FMCG CRM software.
How it improves your supply chain management?
A supply chain is the backbone of any organization and industry. The flow of goods and services from raw materials to the final product should be easy and uncomplicated. Therefore, supply chain management at any level and in any organization is a must. It also involves customer value maximization and gaining an edge over competitors.
Any supply chain management consists of five components- Plan, Source, Make, Deliver, and Return. And a CRM would enable a swift process in all these components. The considered parties in a supply chain are not the ones who just purchase the final product(s). Parties involved in the process are manufacturers, suppliers, transporters, warehouses, retailers, and customers
CRM acts as a platform where all the data relating to different components can be saved and updated. Example- customer data, location data, point of sales, stock on hand, etc.
FMCG Companies are using collaborative planning, forecasting, and replenishment (CPFR) structure in supply chain management. A CPFR structure allows organizations to reduce supply chain costs, improves the accuracy of sales and order forecasts, and greater efficiency in production and manufacturing.
CRM and CPFR
A CRM software can contribute towards a CPFR structure. CRM allows FMCG organizations to work as one virtual organization and work collaboratively. They can share data across channels and come to a midpoint to fulfill customer demands.
Once data enters your CRM software, it can be utilized and analyzed for a good time period, as it contains consumer data over a large heterogeneous population. This can be beneficial to understand which product works and which needs improvement. The data can also be used to give out offers and discounts.
Your organization can keep a track of your inventories as CRM allows efficient inventory management. The data shall also allow you to replenish your stocks as and when needed. A CRM shall reduce excessive stock and non-essential costs.
One can add zones to the distributors /retailers via CMR. It does not just allow one to see the network spreading clearly, but also assigns reps to zones. For example- you can assign your east zone sales rep to manage only the east zone distributors and retailers for a smooth distribution management system.
With the CRM software package, one will be able to gain a summary about maintaining product quality uniformity across market shelves.