Report: CRM Strategies and Market Analysis for Toru Interactive

This report provides a comprehensive analysis of CRM strategies for Toru Interactive, a software development company. It begins with an introduction to customer relationship management and its importance, followed by an examination of Toru Interactive's market position through TOWS and STP analyses. The report then delves into ideal actions for customer conversion rates, considering the company's live clients and their specific needs. Furthermore, it evaluates the current marketing communication materials used by Toru Interactive, including advertising, sales promotion, and online media. The report aims to assist Sean Toru in acquiring new clients by applying CRM strategies and market analysis, ultimately enhancing the company's business operations.

Group Project –
REPORT
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Table of Contents
INTRODUCTION ..........................................................................................................................3
MIAN BODY ..................................................................................................................................3
1. TOWS Matrix..........................................................................................................................3
2. STP Analysis .........................................................................................................................4
3. Ideal action for customers conversion rate..............................................................................6
4. Evaluation of current marketing communication materials....................................................7
CONCLUSION ...............................................................................................................................8
REFRENCES...................................................................................................................................9
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INTRODUCTION
Customer relationship management is determined as an approach which is used by a
company in order to manage interaction along with potential and current customers. This process
use data analysis related to history of customer's along with company for improving its business
relationship with potential customers (Al-Fedaghi and Al-Otaibi, 2019). It is essential for a
company to conduct customer relationship management because this will help in focusing on
retaining customers for a long time which is essential driver for sales growth and profit.
Organisation selected for this report is Toru Interactive, it is a software development company
which delivers bespoke solutions for the high value companies who want to offer high end
services to customers. The main aim of conducting this report is to assist Sean Toru in the
procedure of gaining new clients in short period of time by CRM strategies. Topics included in
this report are evaluation of market and situation through different models and theories.
MIAN BODY
1. TOWS Matrix
TOWS is determined as acronym for the threats, opportunities, weaknesses and strengths.
It is also considered as extended form of SWOT analysis. Through conducting TOWS analysis
an organisation able to determined its external opportunities and threat as well as it also help in
compare it with its strengths and weaknesses. Along with this, it will also help a company in
analysing, generating, comparing and selecting business strategies for attaining desirable goal
and objectives such as enhance brand value, high sales, increased profitability ratio and many
more (Al-Weshah, Al-Manasrah and Al-Qatawneh, 2019). In respect of Toru Interactive they
can adopt TOWS analysis so that they can develop proper CRM strategies in order to attract or
gain more new clients within less time duration. Below explanation of respective company
TOWS analysis is given:-
 Strength and Opportunities: According to this phase company will use its strengths in
order to grab new and innovative opportunities at the marketplace as well as it will also
help them in attaining more profitability ratio. In respect of Toru Interactive, they have
numbers of strengths such as loyal customers or clients, high brand reputation, user
friendly software, financially strong and strong distribution channel. These strengths will
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help respective company in grabbing new opportunities such as implement cloud based
services, mobile and digital advertisement, adopt growth by acquisition and many more.
 Weakness and Opportunities: In this stage company management will use opportunities
in order to overcome weaknesses in effective as well as successful manner (Arsić and
et.al., 2019). In respect of Toru Interactive they have opportunity to grow their business
through acquisition as well as they can also adopt cloud based services because through it
they able to minimise impact of weaknesses like more dependency on hardware, criticism
on security flaws, less customers attraction and so on. Moreover company also has
opportunity to adopt mobile and digital advertisement in order to avoid threat of
minimising weakness of less customers.
 Strengths and Threats: At this phase company able to eliminate all external threats
through their strengths. In respect of Toru Interactive their threat are less customers
interaction, weak customers relationship, change in customers need and habits and many
more. So respective company may use their strengths like strong financial situation,
brand image and value, strong channel of distribution and so on in order to attract as well
as retain customers for long time durations.
 Weaknesses and Threats: According to this stage an organisation must overcome their
weaknesses in order to counter their external threats so that they can attain desire goal
and objective successfully. In respect of Toru Interactive they have weaknesses like
more dependency on hardware, criticism on security flaws, less customers attraction and
so on. Moreover their threat are related to less customers interaction, change in customers
need and requirement, weak relationship with customers and so on. So by overcoming
these weaknesses respective company can also able to overcome weaknesses in effective
and successful manner.
2. STP Analysis
STP analysis is related to market segmentation, customers targeting and product
positioning so that company can attract customers and retain them for long time duration. It is
determined as familiar strategic approach related to modern marketing as well as it is one of the
mostly used marketing model (Chou, 2019). STP analysis is mainly used by a company in order
to create marketing communication plans or strategies which help marketers in prioritise their
proposition and accordingly deliver or develop products and services. In respect of Toru
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Interactive, they are operating in software development sector as well as they deliver bespoke
solution for their high value clients who want to serve high end services to its potential
customer's. Respective company conduct analysis of customers profiles and customers journey
by using STP analysis as well as through it they also conduct analysis through different
marketing matrix. Both evaluations are mentioned below:-
STP analysis
 Segmentation: It is first stage of respective model according to which a company can
divide market into groups based on certain criteria. There are numbers of criteria in
which it is based such as demographic, geographic, psycho graphic, behavioural and so
on (Dewnarain, Ramkissoon and Mavondo, 2019). In respect of Toru Interactive, they
conduct their segmentation through different criteria i.e. demographic and geographic
basis. According to this, their customers are of all age group and gender who are running
their business as well as they divide their customers on the basis company's income.
 Targeting: It is determined as a process through which a company can determin which
segment is most attractive as well as essential for the business. There are several factors
that are essential to be considered while targeting customers such size, profitability, ease
of reach and so on. In respect of respective company they are targeting their customers
according to the size and profitability of business units. This is so because it will help
them in gaining high profit as well as market value.
 Positioning: It is the last stage of STP analysis according to this an organisation can map
out different variables or elements which are considered at above two stage and then
accordingly they will position their products (Foltean, Trif and Tuleu, 2019). This will
generally done in creative as well as unique manner so that it will different from their
competitors. In respect of Toru Interactive they can conduct online as well as digital
position methods because through it they can attract more and more customers or clients.
Along with this it will also help in developing effective relationship with them which lead
to increase in sales and profit.
Marketing Metrics
It refers to measurable values used by an organisation marketing team in order to
demonstrate effectiveness of specific campaigns over all marketing channels. This will also help
management in tracking their marketing goal, there are several marketing metric which can be
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used by a firm. In respect of Toru Interactive they may adopt KPI (key performance indicator)
and customers retention ratio because through this company able to analyse effectiveness of their
products as well as it will also help in estimating sales and profit of respective firm.
3. Ideal action for customers conversion rate
Toru Interactive is conducting its business in software development industry as well as
they provide services to its clients so that they can effectively sales their products and services to
potential customers in marketplace (Kasemsap, 2019). Some of the main live clients of
respective company are Reza Hygiene, Domino, Serendipity Diamonds, Diversey, Lionsorbet
and many more. These all clients are operating in different segment due to which their target
segment are and promotional activities are different. For example Reza Hygiene is operating in
building sector due to which they engagement activities are different whereas Domino is one of
the biggest jewellery brand of United Kingdom. Due to this Toru Interactive develop different
strategies according to engagement of their live clients.
While conducting business operations and functions Toru Interactive live clients are
feeling some of the major issues which are related to customer relationship management which
directly impact on their business succession. In order to over these issues respective company
develop different strategies according to the operations of their customers, this play effective role
in the succession of business because customers able to get resolve their issues according to
requirement. There are some main concern of Toru Interactive management which are related to
the customers relationship management because they not able to understand need, demand and
requirement of customers as well as they also not able to deliver services on time. So in order to
avoid issue related to this respective company can adopt different method for customer
relationship management as well as they may also adopt different innovative marketing strategy
because through it they can attract and retain customers for long time.
In addition to in order to enhance customer base Toru Interactive can conduct more
promotional as well as advertisement activities because through it they able to attract more and
more audiences towards their business (Kim and Wang, 2019). Along with this they may also
develop different strategies according to live clients as that will help in developing effective
customers relationship management. In respect of different live client in order to develop as well
as maintain relationship with customers they may develop or design products and services
according to customers need, demand and expectation. Along with this, live clients also need to
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take feedbacks on the continuous basis because through that they can understand their
requirement and develop products accordingly (Kis and et.al., 2019). Furthermore, liver clients
must also conduct market evaluation on regular basis because through it they can design
strategies and action plans through which they can gain competitive advantage at the potential
marketplace against competitors.
4. Evaluation of current marketing communication materials
Marketing communication is determined as process which use different marketing
channels or tools such as advertisement, events and experience, sales promotion, publicity,
public relations, direct marketing and may others. By using these tools an organisation able to
effectively communicate or interact with their potential customers so that they can attain their
desire goal and objectives in effective manner. In respect of Toru Interactive, their management
may adopt numbers of marketing communication material for attracting more and more clients
towards their services, from which some are mentioned below:-
 Advertisement: According to this strategy company can conduct advertisement activities
through online as well as offline medium as that will help them in attract more and more
audiences toward their products and services (Li, Huang and Song, 2019). In respect of
Toru Interactive they may conduct advertisement through different medium such as
online, offline and print media so that they can attract more effective as well as successful
business clients.
 Sales promotion: It is one of the favourite type of sales promotion. Moreover it is human
nature that they get more attracted towards the promotion advertisement as well as they
also want to grab opportunities related to the promotion. In respect of Toru Interactive
they can adopt this strategy according to which they may provide discount or promotion
offers to their clients. This is so because through that they able to attract wide range of
customer as well as it will also encourage them to purchase their services successfully.
 Online media: In today's time most of the companies are using online media because
through this they able to reach huge numbers of audiences as well as it will also help in
developing proper customer relationship (Rajola, 2019). In respect of Toru Interactive by
adopting this they able to attract huge numbers of clients who want to invest or purchase
their services. Through this firm also able to increase their customers base by enhance
sales and profitability ratio.
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In respect of Toru Interactive in order to attract more and more customers and develop
effective customers relationship management may adopt different marketing communication
method i.e. online media and advertisement (Rosalina, 2019). This is so because through it they
able to attract more and more customers towards their software development services through
which their clients can successful promote their products and services. Along with this, by
adopting these marketing communication channels respective company able to enhance
awareness of their services as well as it will also help in increasing conversion rate for the life
time. This will also help management of Toru Interactive to enhance their sales which directly
lead to increase in profitability ratio as well as market shares.
CONCLUSION
By analysing above situation it can be conclude that in today's time every company need
to conduct strategies related to the customers relationship management because through that they
able to attract as well as retain customers for the long time duration. For this it is essential to
conduct internal and external analysis and for that company may adopt numbers of strategies,
model and theories. This will include implication of TOWS analysis which help in determining
threats, opportunities, weaknesses and strengths in order to match their internal strengths as well
as external opportunities for developing maxi maxi strategies which lead to succession of
business. Moreover company may also adopt STP (Segmentation, targeting and positioning) in
order to estimate relevant Marketing Metrics because that will help in developing appropriate
strategies and plan. In addition to this, an organisation also need to conduct analysis of their
potential or live clients need, requirement and expectation as that will help in developing
strategies for growth effectively. Along with this, they also need to evaluate current marketing
communication material through which they can interact with potential customers effectively and
successfully.
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REFRENCES
Books and Journals
Al-Fedaghi, S. and Al-Otaibi, M., 2019, March. Service-oriented systems as a thining machine:
A case study of customer relationship management. In 2019 IEEE 2nd International
Conference on Information and Computer Technologies (ICICT) (pp. 235-242). IEEE.
Al-Weshah, G. A., Al-Manasrah, E. and Al-Qatawneh, M., 2019. Customer relationship
management systems and organizational performance: Quantitative evidence from the
Jordanian telecommunication industry. Journal of Marketing Communications. 25(8).
pp.799-819.
Arsić, S. and et. al., 2019. Family business owner as a central figure in customer relationship
management. Sustainability. 11(1). p.77.
Chou, C. M., 2019. Social media characteristics, customer relationship and brand
equity. American Journal of Business. 10(1).
Dewnarain, S., Ramkissoon, H. and Mavondo, F., 2019. Social customer relationship
management: An integrated conceptual framework. Journal of Hospitality Marketing &
Management. 28(2). pp.172-188.
Foltean, F. S., Trif, S. M. and Tuleu, D. L., 2019. Customer relationship management capabilities
and social media technology use: Consequences on firm performance. Journal of
Business Research. 104. pp.563-575.
Kasemsap, K., 2019. Facilitating customer relationship management in modern business.
In Advanced Methodologies and Technologies in Digital Marketing and
Entrepreneurship (pp. 44-56). IGI Global.
Kim, H.G. and Wang, Z., 2019. Defining and measuring social customer-relationship
management (CRM) capabilities. Journal of Marketing Analytics. 7(1). pp.40-50.
Kis, Y. and et. al., 2019, May. Development of system for managers relationship management
with customers. In International Scientific Conference “Intellectual Systems of Decision
Making and Problem of Computational Intelligence” (pp. 405-421). Springer, Cham.
Li, Y., Huang, J. and Song, T., 2019. Examining business value of customer relationship
management systems: IT usage and two-stage model perspectives. Information &
Management. 56(3). pp.392-402.
Rajola, F., 2019. Customer Relationship Management in the Financial Industry Organizational
Processes and Technology Innovation. Springer-Verlag.
Rosalina, V., 2019. Electronic Customer Relationship Management (E-CRM) Modeling As
Efforts to Increase Customer Retention of Micro Small and Medium Enterprises
(MSMEs) in Banten.
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