3 Cs of Employee Engagement
A major percentage of employees find their work boring. Ask HR managers about employee engagement and they have only one answer: it is the biggest challenge that we are facing today. Days of huge increase in wages or salaries even in highly productive organisations have gone. It is unable to retain employees within the organisation […]
Factors Affecting Organization Culture
Culture represents the beliefs, ideologies, policies, practices of an organization. It gives the employees a sense of direction and also controls the way they behave with each other. The work culture brings all the employees on a common platform and unites them at the workplace. There are several factors which affect the organization culture: The […]
Recruitment and Retention
The problem of retention begins with recruitment! In most of the organizations the recruitment function operates independently of the retention department. HR people have so far been naive to the direct relationship between the two and the resulting increase in employee turnover. It is therefore in the interest of organizations to understand how the hiring […]
Financial Benefits of Talent Management
There are pros and cons of every management philosophy and the associated processes. Talent management is no exception to it. While many organizations simply decline to have it under their umbrella because it costs the exchequer, still others approve of it equally strongly as an effective people management process. Before we discuss the financial benefits […]
Bargaining Power of Customers
One of the essential requirements in today’s business scenario is to realize and evaluate the bargaining power of customers. The word bargaining here does not only mean price negotiation, it is a much differentiated and broader term. Bargaining can be encompassed throughout the process of deal. The following are some of thes areas where a […]
E business model implementation brings with it several key results and benefits. First and foremost a successful implementation should meet with the Organisational goals that were set during the implementation phase. Increased customer awareness, capability to handle huge volume of customer orders, build customer relationship etc are some of the well known benefits that accrue out of the successful implementation program.
The IT partners or the Web Developers who undertake to build, maintain and operate your website provide you with a huge set of reports and data on various metrics. As a Marketing Manager if you are interested in converting your website into a powerful sales engine, then you have got to be keyed into the E business program and build knowledge from it. The website gives you the real and close up picture of your market and customers.
Unlike the traditional channels where your customers are at a distance and remote, you are able to see your customer behaviour up close and almost instantaneously. Your customers could range from an individual, an Organisation, Government, Defence or a trader, whole seller, retailer or a mix of all.
The lifecycle of products and services is very short. So also is the buyer’s loyalty and buying behaviour. In an every changing and complex scenario, if you have to make strategic decisions about your products, markets and pricing etc, it helps to make decisions based on facts and figures rather than based on past records, performance and understanding of the field sales personnel.
Secondly building knowledge about your Customer can give you inputs to the changing trends in the market too. Every day competition gets busy trying to promote sales using different types of sales promotions. Instead of spending money on trying to research and understand customer reactions through surveys, you can use the e reports to gain insights. You can also set up online surveys easily to obtain first hand impression from customers from across the segments.
Trying to build and maintain relationship with your Customer is very important part of your activity. Today’s customers are very demanding and are well informed. To hold on to a relationship with your existing customer, you have got to keep providing value to your customer.
The E Market platform helps you achieve this very easily and effectively. You are able to identify the segments that your customers belong to, understand their expectations and behaviours very clearly. Understanding your customer expectations makes it easier for you to create a customized value proposition for your each individual customer and thereby enhance the experience that the customer has with you.
Apart from building knowledge on Customer and their needs, you can also gain effective insights that help you tweak your supply chain operations too. Different customers have different strategies and methods of buying.
A defense organisation or a Manufacturing organisation might follow E Bid model to buy products while traders and retailers might like to place online orders on weekly basis or buy more depending upon the discount slab offered. Another major customer might want to opt for JIT supplies and expect to send JIT orders in electronic form. Understanding Customer expectations and delivery requirements can give you insight into maintaining leaner inventories, lesser distribution points and effective delivery methods.
On the whole, the more time you spend analyzing and building knowledge using the E reports and data generated, the beneficial it would be for your operations.
A smart marketing manager who is in tune with his E market is able to smell the changes in the trends in the market be it with competition or technology as well as with customer expectations. This gives him an edge to be ahead of others in providing the product and services to the customer and exceed customer expectations as well as drive the E strategy as the engine for sales growth.
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