Whether you are looking to increase your clientele’s repurchase rate or trying to grow your customer base through referrals, the first element to review is your customer relationship management strategy.
For luxury and (ultra-)premium brands looking to increase their repurchase rate, it is critical that a customer relationship management strategy is suited to their most valuable clientele and the nature of a high-end business. Often, companies take a mass-market approach assuming it can be translated into the luxury or ultra-premium market. And when that strategy is off, results will be below expectations and recovery is difficult.
For those brands looking to expand their customer base through referrals, if results are sub-par, before you blame it on the clienteling team or the CRM system, make sure your referral strategy is in tune with what you are trying to achieve.
Customer Relationship Management Strategy
Design & Review - Ensuring the Right Strategy to Achieve Your Business Objectives
Alox Consulting helps high-end organizations develop and review customer relationship management strategies to ensure they meet their business objectives.
This includes a comprehensive analysis of requirements in the following areas where appropriate for your brand:
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CRM Organization.
Providing the appropriate organization to achieve the team's objectives, the definition of the optimal CRM organization:
Organization – Reporting structure and roles that are tuned to the organization, target prospects and team strengths.
Job Profiles – Definition and assessment of skills, knowledge, and experience requirements for current and prospective team members.
Work Environment – Physical & virtual working environment designed to optimize performance.
Client Account Design – Mapping target prospect accounts and characteristics to team structure and individual responsibility.
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CRM & Clienteling Process.
Defining the customer management approach and techniques to be used:
Existing commercial opportunities - Determining which client represents opportunities to be pursued.
Needs analysis - Identifying client’s needs and developing a personalized clienteling approach.
Clienteling Initiatives + Techniques - Designing virtual, in-store and multichannel clienteling initiatives and personalization techniques.
Data Management - Identifying required data, management process and data enhancement techniques.
Referral Management - Designing approaches to orchestrating and soliciting high-end referrals.
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CRM & Clienteling Training and Support.
Maximizing individual and team productivity in alignment with the defined customer relationship management strategy:
CRM Tools – Evaluation of currently utilized tools to facilitate customer relationship management
Clienteling Training – Initial and on-going development of skills and knowledge with accountability for individual implementation
Implementation Plan – Activities and milestones to implement new or updated customer relationship management strategy
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Performance Management.
Aligning objectives and setting clear performance expectations:
Key Performance Indicators – Specific activity-based metrics to set expectations and measure individual performance
Performance Analysis – Reporting mechanisms that provide accurate representation of the status of opportunities