CUREENT MARKET SCENARIO OF CRM IN INDIA:
Size of Indian crm market is narrow-approximately USD 16-20 million.
But there is a huge possibility to grow of on demand CRM because nowadays many small-medium enterprises of india are going to implement CRM system{priority is changing} –as only 63% of Indian mid sized businesses (100 to 1000 employees) have not adopted CRM solutions.
Communication (e-mail, chat, conferencing ) and collaboration (Documentation, Spreadsheet, etc.) are the only solutions adopted by Indian companies-now they are feeling the necessity to change the old system to make process more faster, more efficient.
logistics and finance have understood the importance of CRM technology as customer retention is of prime importance hence adoption is significantly higher as compared to other sectors.
Companies who have implemented CRM find maximum beneficial impact of CRM in marketing and lead management, customer service and maintaining customer accounts.
Majority of non-users believe that they don’t need CRM solutions since they are self sufficient in managing their relationships on E-mails/ mail clients, Spreadsheets, etc. so building awareness should be main focus for CRM vendors.
There is a possibility to grow in following sectors:
1.manufacturing2.health care3.real estate4.retail5.media
Around 3/4th of respondents are currently using desktop applications to access CRM solutions
• Cloud computing is yet to gain awareness and acceptance in Indian market
• Half of companies got the solution customized to their processes but only a fourth companies have solution integrated with other applications used in the firm.
TARGET AUDIENCE FOR NEW CRM VENDORS:
Target audience should be small[0-100 employees]and medium enterprises[100-500 employees] specially retail, real estate and healthcare industries.
This market has a great potential specially in Kolkata because most of the small,medium retail companies are not using crm system.
Non-users of CRM do no have any preference for known and tested brands for CRM solutions and ready to try new brands as long as they can provide value-it can be golden opportunity for CRM VENDORS.
Real estate is a growing industry,but most of them are still not aware about CRM.so at first there is a need to build awareness among them.
Many manufacturer who are also involved in selling process can be our prospect.
Health-care industry,hospitality industry are growing,we may see many medicine farms are rising in the last 5-10 years.they are not using CRM system.so they can be our prospect.
As far I realized that for the organization which is in introduction phase,targeting medium enterprises can be a better option for quick growth.
We should focus to build awareness among small enterprises.
Because converting them from prospect to consumer can be a time consuming process.
PROCESS A COMPANY CAN FOLLOW FOR CRM SELLING:
Direct and interactive marketing and selling technique would be the best choice to expand business.
Because consumers are now empowered to become engaged with a marketer’s campaign as technology will allow.
CRM providers are in service sector,in this era of business after sales service,and customer satisfaction should be the main priority for any company. Building long term relationship with clients is the main mantra to expand business.
CRM is still not familiar in Indian scenario,so relation building will indeed help in future,as Word of mouth/peer references are highly effective marketing techniques.
Creating brand equity should get prioritize. Vendors can use existing social networks like Facebook, LinkedIn etc. to create online communities for branding.
Company can use online/digital marketing channel but Digital / Online marketing channels are less effective among SMEs due to very low Internet penetration.
Other process which company can follow:
· Online free trial- most of the companies are not providing this facility so providing this facility to clients can be very useful.
· Ease of use and access to information is a criteria for finalizing the solution by CRM users so convincing them about ease of use can be a good process.
· new media marketing channels such as online seminars,online demos, blog can be used to drive the volume of inquiries and leads.
· Cloud offerings can be a better process when compared to online customers due to already existing brand recall in the market
· Sending mails to increase awareness
· Identifying the prospects and then Making phone calls to prospects.
· Pricing currency in the website
· organize seminars and workshops to create awareness.-there is also a need to create awareness around how CRM can help firms build relationship with their repeat customers
· Showcasing few case studies of firms that have found CRM being effective in improving their processes—it will help to catch prospects.
