bossard rocks.. (1)2
TRANSCRIPT
BOSSARD ASIA PACIFIC-CRM STRATERGY
By-Hardik Dwivedi
Priyanka Mishra
Harsha Tilak
Sripal
Shruti Drolia
Vasuprada M.
Aditya Mishra
Niladri Chakravarty
Ashish Baharani
ABOUT- BOSSARD Founded in 1831 from a local handwork business in Zug to a
Swiss industrial business and an international trading concern.
The business is being run by the 7th generation in the Bossard family.
Bossard has around 1800 employees, engaged in the global procurement and sale of every type of fastening element.
Bossard also provides engineering and logistical services associated with these products.
Contd. Core Competence-Fastening Technology
Over 75 affiliates in 3 regions namely-
1. Europe
2. America
3. Asia/Pacific
USP – Technical advice on Engineering & Technology
Need For CRM Due to tremendous competition
Cost of Customer Acquisition rising
Margins started eroding
Highly Distributed Operations
FIVE KEY STRATEGIES WITH CRM
1. FOCUS ON EXISTING CUSTOMERS
RETAIN THE RIGHT CUSTOMERS
MAXIMIZE CUSTOMER PROFITABILITY
2. MAXIMIZE REVENUE OPPORTUNITIES
EVALUATE THE MARKETING MIX
RE-PRIORITIZE SALES INVESTMENTS
Contd.
3. DO MORE WITH LESS
STREAMLINE BUSINESS PROCESSES
IMPROVE PERSONAL PRODUCTIVITY
4. REDUCE OPERATIONAL COSTS
RIGHT-SIZE SERVICE COSTS
REDUCE COSTS THROUGH CONSOLIDATION
Contd .
5 . OPTIMIZE EXISTING IT ASSETS
MAXIMIZE THE VALUE OF EXISTING SYSTEMS
CRM INITIATIVE IN BOSSARD
Initiative was taken to face the increasing competition in Asia Pacific region and to reduce the cost of customer acquisition.
Move towards a Dashboard CRM – driven Strategy.
Implementation Risk
High cost involved
DCRM Describes a CRM implementation where customer
related information and key data points are organised in dashboards at a glance.
It contains Contact details, Number of visit, Key profitability indicators such as margin contribution charts.
Important indicators such as KPI are captured in the system
Could be seen as a sophisticated sales management tool
USE Of CRM
Being used for Market identification, segmentation and customer tracking
Use of HYMC Screen as a part of DCRM
Separate screen to analyse whether a company growing , shrinking in conjunction with the margin trend.
Includes a report about new working and market opportunity analyzing the pipeline trend.
As a knowledge base and sales force management tool.
Challenges of DCRM strategy implementation
Development process takes longer
Sufficient manpower is required for operating the system which may be a difficulty for a mid size company like Bossard.
Continuous input from the market is necessary to improve and upgrade the system.
SWOT ANALYSIS
Strengths:• Scott’s confidence on his employees.• Low cost in developing an internal internet based solution.• Bossard employees who have a strong understanding of the business model.• Compatibility to existing ERP systems.
Weaknesses:
Lack of support from Bossard’s headquarters in switzerland.
Employees from the development team have to be taken out from their regular duties.
Lack of experience of DCRM among the employees.
Opportunity Facilitates the sales person knowledge. Strong customer base. High yield margin contribution (HYMC). Increase company's future growth
potential. Improved technology.
Threats
Huge cost involved.
Un cooperation from top to bottom level due to past beliefs and miscommunication.
Cut throat Competition.
Q 1 - ROLE OF CRM
• Enables sales staff to give better advice to customer
• Tracks prospective customer
• Providing Value Added Services
• DCRM – Converting expenditure to opportunity
SEGMENTING EXISTING MARKETS AND DEVELOPING NEW ONES
STEP 1 – Important to look at market segmentation
STEP 2 – Select most profitable customer in that segment.
True Profit = Customer Profit - HYMC
Decides whether the customer should be targeted
Separate screen used for analyzing whether a company was growing or shrinking
Powerful tool to understand in which company Bossard should invest
Pipeline report – overview of potential customers
Contd.
Q 2 - OPPORTUNITIES
Readymade information about the company ‘s performance to the employees
Good track record of customer data Not dependent on one employee Saves cost Consumes less time Serves various uses
PROBLEMS
Initial investment may seem to be high Proper employee training is required for
smooth functioning of the proposed system
Improper usage of the customer data
Q 3 - RECOMMENDATIONS
Implementation of DCRM system
Communicate the value proposition of DCRM
Training of the employees and customers