Forever Wedding Rings and Redfoot: a marriage made in heaven
The home-visit wedding band retailer ensures its profitability through a customised Microsoft Dynamics CRM-based solution
"Our business could not operate without a sophisticated CRM solution, and Redfoot provided just that" - Emily Cartwright, Forever Wedding Rings
Background
Forever Wedding Rings specialises in offering couples the opportunity to view, touch, try, compare and select wedding bands in the comfort of their own home, at a time convenient to them, with no pressure to make a purchase. The company's experienced consultants advise couples on such aspects as matching wedding and engagement rings, and their bespoke ring design and final fitting services.
Challenge
Emily Cartwright, of Forever Wedding Rings, tells the story of the company's relationship with Redfoot: "We were originally recommended Redfoot Solutions by our network installer, and we bought the ACT! by Sage solution from them some time ago. This system did a good job as a customer database, but, as our business grew, I really needed a more sophisticated CRM solution that would enable me to track statistics."
In order to maximise the business's profitability, Management has to keep a constant, close eye on the performance of every sales consultant, the return on every advertisement placed, and the business generated by every show attended.
Solution
Redfoot recommended Microsoft Dynamics CRM, but it was far from an on-the-shelf installation. Emily explains: "Microsoft Dynamics CRM is a great product, but it is really designed for B2B companies with a database of contacts and customers, with whom they do a lot of repeat business. Forever Wedding Rings is very different: we have thousands of customers, but usually, by the nature of what we do, we only sell to them once. Redfoot did a lot of customisation work for us on the system - it was not a straightforward job."
Business benefits at a glance
Redfoot's CRM expertise delivers for Forever Wedding Rings:
Þ Constant, immediate profitability information on every element of their sales and marketing activity, through the detailed tracking of statistics
Þ Enhanced decision support: such information informs future planning - where to advertise, which shows to attend
Þ An eye on the market: any changes in the market are immediately flagged up, enabling the company to make price changes to maintain competitiveness and profitability
Benefits
Emily summarises: "The business could not operate without a sophisticated CRM solution, and Redfoot provided just that. We can see exactly how well each consultant is performing, precisely the return on each advert we place, as well as a detailed breakdown on the benefit of attending each show. Almost every element of sales and marketing activity that we plan is informed by the statistics that the CRM system provides.
"The system also keeps us on our toes when it comes to market forces. Our prices sometimes have to change on a daily basis. If our costs change, the shift in profitability is immediately reported by the system. It tells us that, to stay competitive and profitable, We need to change our prices.
"Our number one requirement when We bought the system was its reportability, and it has delivered - this solution can track anything."
Future plans
"We value the support contract we have with Redfoot: the system is so key to our business that we need the peace of mind that this provides. In addition to that, if we decide to add to the product range, we would have no hesitation in asking Redfoot to come in and make the necessary modifications to the system."
Forever Wedding Rings concludes:
"We needed a much more sophisticated sales and marketing tracking system, tailored to our business, and Redfoot have delivered just that."
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