How We Defined A CRM Solution For The Jewellery Industry To Boost Their Customer Acquisition Efforts
Two leading companies in the jewellery industry approached Coruscate with two different
issues. The first company was unable to keep a track of the communication that occurred
between the organization and the client side. On the other hand, the second company was
unable to track the number of prospects that were converted by the sales personnel as well
as predict the sales for the upcoming year.
After spending long hours with both clients, and understanding their situation, Coruscate
came up with a common solution, CRM system that would help both the companies handle
their respective issues. The Mark CRM is a comprehensive and customizable solution that
we have derived for the jewellery industry.
First Client
The client is a jewellery product company i.e. they sell products such as rings, earrings, anklets etc. They offer custom jewellery design to their end customers. Along with jewellery design, they are also involved in purchase of the stones.
Second Client
The second client was into a diamond purchase and trading.
The Broad Requirements
- The system should be able to keep a track of all the conversations that occur with respect to a single project i.e. the internal discussions, notes, client meetings etc.
- The system should be kept a record of all the discussions that occur in a single place. The emails, skype conversations, chats etc. should be added to the system
- The client had more than one office, and each office communicated with the client individually. The system should be able to keep a log of all the conversations, so that everyone is on the same page.
- The system should be able to predict the sales for the company based on their current & previous sales.
- They should be able to track the activity of the sales personnel. Each sales person is assigned a few leads and a target. If the sales person is able to achieve the target through one prospect, they do not connect with the other leads available. A lot of leads went cold as a result. They wanted a system that could see which leads were untouched, and then assign them on priority to the sales personnel.
- The communication between the sales personnel and the team lead as well as the sales personnel and the client was not tracked. The communication occurred on many platforms, which needed to be synced so that everyone in the process is aware as to what is happening in the project.
A CRM Solution to Tackle the Multiple Issues
We identified the need for a CRM that will help the client with maintaining their records, syncing all the communication across the organization and with the end customers, and checking through the paperwork maintained for the customer.
The solution also contains a mobile app designed for iOS and Android. Whether online or offline, the salesperson can search for the data within the app, as it comes with offline search & syncing capabilities.
Syncing Communication
If there is more than one person communicating with a client then it is important that all the emails are in a single place. The system will fetch the emails from all the email IDs and sync them based on the time stamp. The view is similar to the group chat view.
Segregation
The client can segregate their customers into different categories, making it easy to search for a client’s details and communication
Internal Discussions
There is a feature for internal discussion, wherein the team or the management can discuss internally, and communicate matters of importance on the spot. To-dos option, task assigning, imp doc share.
To-do
The sales manager can assign to-dos to the team or individual sales person.
Schedule
The sales person can even schedule the call with the client using this system. It can be seen by one and all. The best part of this feature is that the client and your sales personnel will receive a reminder right before the call.
Predictions
We integrated the CRM with their internal sales software, which enabled us to check on the product purchase frequency, the payment frequency as well as the type of products being sold. This helped us come up with an algorithm that will help them forecast the sales for the next cycle
Cold Leads
The system helps track the leads that have been visited by the sales personnel, the ones that have been converted and the ones that have been untouched. The system will send these cold leads as reminder to the sales personnel so that they can connect with them for conversions.
Communication
The communication is synced and managed via this platform. There is a space for internal discussions as well as discussions with the client.
Challenges faced
- There is no CRM available for jewellery industry that can be used as a reference. As this was first of its kind, it required a lot of planning, insights of the market, and an understanding of what all parameters will the jewellery CRM require.
- There was no system in place and the database was random, which meant everything needed to be created from the scratch.
- Email integration proved to be a challenge for the first client.
- Preparing sales chart based on movable and dead stock proved to be a challenge. The algorithm had to be created in case of the second client.
Results
- The client was able to save a lot of time in searching the data and resolving the client issues.
- There was an increased level of productivity within the company as the mobile app allowed easy and real-time communication.