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August 22, 2021 in Uncategorized

CRM in apparel retail


CRM differentiates data based on parameters decided by the company or retailer. Hence from heterogeneous groups it filters the data into homogeneous groups of customers based on categories like socioeconomic background, demographics, etc. By segmenting customers in specific categories, apparel retailers can design their plan of action for sales, marketing, and customer services. Moreover, with information and analysis so precise, an apparel retailer can improve the standard of business and increase its brand loyalty. Based on such results, apparel retailers can also tailor strategies to target different customer groups

CRM has become an essential tool for retailers to navigate the intense competition in the industry. Customer orientation, relationship marketing, and database marketing are at the core of CRM. It is a software system that integrates various aspects of an organization, including inventory management, customer communication, sales, and marketing. The CRM process involves acquiring, differentiating, and evaluating customer data. This enables apparel retailers to gain customer-centric insights and analyze customer behavior. The gathered information is then used to enhance customer satisfaction and optimize productivity.

To understand how CRM software operates, it’s crucial to recognize the touchpoints between customers and retailers or the company. Whenever a customer interacts with the brand, its people, products, or the company through different mediums, that interaction becomes a touchpoint. The product itself is the most evident and significant touchpoint. In addition to this, traditional channels like television and print advertisements, direct mail, and SMS also serve as touchpoints.

With the rise of digital marketing, mobile, internet, and social networking have also become effective communication mediums. Touchpoints have the power to influence, attract, and impact a customer’s decision to purchase clothing. CRM software integrates with these marketing tools to manage customer touchpoints effectively and capture customer attention.

Considering the evolving influence of fashion trends and changing customer needs, CRM systems offer a multi-channel approach. The software can be seamlessly integrated with retail point-of-sale systems, online retail platforms, and physical stores. It stores various customer details, including names, addresses, demographics, along with specific data on buying influences, behavior, economic backgrounds, interactions, and feedback.

Once all the data is collected, CRM software helps retailers understand and analyze this information. The evaluation reveals which products customers are interested in, how much they are willing to pay for specific items, the factors influencing their purchase decisions, and insights to improve product shortcomings based on customer feedback. Additionally, it provides specific information about prospective, frequent, and loyal customers. Interpreting data through CRM software enables apparel retailers to better understand their customers and devise strategies to promote and increase sales of their products.

 




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