Challenge
A diversified holding group with subsidiaries in the automotive, media, and retail industries sought to unify and enhance its customer relationship management (CRM) capabilities across all business units. The group faced several challenges:
- Inconsistent CRM Practices: Each subsidiary operated with its own CRM systems and strategies, leading to fragmented customer data and inconsistent customer experiences.
- Scalability and Integration: The holding group needed a scalable CRM solution that could be effectively integrated across diverse industries, from automotive to media to retail.
- Alignment with Business Objectives: There was a need to ensure that the CRM transformation aligned with the unique goals and requirements of each subsidiary while supporting the overarching objectives of the holding group.
Approach
Velox Partners was engaged to design and implement a comprehensive CRM roadmap for the holding group, focusing on creating a unified, scalable, and business-aligned CRM strategy. The following activities were completed:
- Comprehensive Needs Assessment: Conducted a thorough assessment of each subsidiary’s current CRM practices, identifying gaps, pain points, and opportunities for improvement. This included understanding the unique customer journeys, data management practices, and business objectives of the automotive, media, and retail companies.
- CRM Roadmap Design: Developed a detailed CRM transformation roadmap that outlined the steps required to achieve a unified CRM strategy across the holding group. The roadmap included phased implementation plans, prioritization of key initiatives, and timelines for achieving short-term wins and long-term goals.
- Standardization and Customization: Established standardized CRM processes and data management practices across all subsidiaries to ensure consistency. At the same time, customized CRM solutions were designed to meet the specific needs of each industry, allowing for flexibility and relevance.
- Technology Selection and Integration: Conducted a thorough analysis of CRM software solutions to identify the most suitable platform for the holding group. The selected CRM platform was scalable, capable of integrating with existing systems, and equipped to handle the diverse needs of the automotive, media, and retail subsidiaries.
- Change Management and Training: Implemented a change management strategy to ensure smooth adoption of the new CRM system across all subsidiaries. This included comprehensive training programs for employees, from senior management to frontline staff, to ensure they were equipped to leverage the new CRM capabilities effectively.
- Global Benchmarking: Incorporated insights from global best practices in CRM implementation across various industries to ensure the holding group’s strategy was competitive and aligned with international standards.
Impact
- Unified CRM Capabilities: The holding group achieved a unified CRM approach across all its subsidiaries, leading to more consistent customer experiences and streamlined operations.
- Improved Customer Insights: Standardized data management and advanced analytics provided the holding group with a 360-degree view of its customers, enabling more informed decision-making and personalized customer interactions.
- Scalable CRM Solution: The CRM platform was scalable and adaptable, allowing the holding group to efficiently manage customer relationships across its diverse industries.
- Enhanced Operational Efficiency: The standardization of CRM processes across the subsidiaries resulted in more efficient operations, reduced redundancies, and improved collaboration between business units.
- Increased Customer Loyalty and Retention: With a more personalized and consistent customer experience across all touchpoints, the holding group saw a significant increase in customer loyalty and retention rates.
- Strategic Alignment: The CRM transformation was successfully aligned with the business objectives of both the holding group and its individual subsidiaries, supporting long-term growth and competitiveness in each industry.