1 2001,Hamsi. All rights reserved. Customer Relationship Management.
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Transcript of 1 2001,Hamsi. All rights reserved. Customer Relationship Management.
1 2001,Hamsi. All rights reserved.
CCustomerustomerRRelationshipelationshipMManagementanagement
2 2001,Hamsi. All rights reserved.
Producers Distributors Customers
•Brokerage•Investment Funds•Credit card •Software Company•Mortgage•Travel
•Horizontal Portal•Finance Portal•Aggregators•Financial Marketplace
Internet: Production and Distribution are Separate
3 2001,Hamsi. All rights reserved.
Producers Distributors Customers
Internet: Production and Distribution are
Separate
Focused Distributor
Amazon.com
Financial Marketplace
E-loan
Service ProviderDelta Air
ProducerFord MotorGE Medical
Horizontal PortalYahoo!
Vertical PortalQuicken.com
Affinity PortaliVillage
Financial ProductAllState
Farmers Ins.
4 2001,Hamsi. All rights reserved.
Cu
stom
e r D
ist r
i bu
t or
New Value WebP
r od
uc e
r
Insurance Co.s Allstate, GEICO
Financial MarketplaceE-Loan
Horizontal PortalYahoo!
Software Quicken2000
Vertical PortalQuicken.com
Physical WorldCall Centre
FocusedDistributor
Amazon
5 2001,Hamsi. All rights reserved.
Traditional Organisation is Changing….
Customer
Product
Infr
astr
uctu
re
6 2001,Hamsi. All rights reserved.
Internet: Traditional Organisation Will be Unbundled
Scale war; a few big players
Battle for scope; a few big players
Capability war; low entry cost, many small players
Competition
Cost and efficiency focused
“Customer comes first”Employee focused, creative “stars”
Culture
Fixed cost is high, volume is essential
Customer acquisition cost is high, has to sell masses
First mover advantage and speed are important
Economics
InfrastructureCustomer RelationsProduct Innovation
Source: Hagel & Singer, Unbundling the Corporation. Harvard Business Review, Apr’99
7 2001,Hamsi. All rights reserved.
CUSTOMER RELATIONSHIP
Product Management Customer Relationship Management
One time interaction Focus Constant interaction
Short term Process Long term
Mass Communication Personal
Market survey Feedback Constant dialog
Market share Success criteria “Wallet share”
8 2001,Hamsi. All rights reserved.
CRM PROCESS
Know Your Customer
•Information gathering
•Customer differenatiation
Personalise
•Product/ service
•Communication
•Channel
•Price
Communication
Communication
9 2001,Hamsi. All rights reserved.
• Overview of CRM Products
• Critical Success Factors for CRM Implementation
Review of the CRM space
10 2001,Hamsi. All rights reserved.
The Evolution of Space
eCRM
Systems
Improve workflow and automate lead tracking
GoldMine, ACT
Functional Objective
Vendors
Sales Force
Automation
Systems
Contact
Management
Systems
CRM
Systems
Automate FIs internal processes of Sales & Accounts Management
Sales Logix, Saratoga, First Wave
Have organized, automated processes for sharing comprehensive CRM data with remote sales agents & business partners
Siebel, Oracle, Janna
Have web-based platforms which enable dynamic profiling of customers, interactive personalized scripting & customer treatment
Combination of Integrated web technologies
CRM Products
11 2001,Hamsi. All rights reserved.
Review of the CRM space
• Overview of CRM Products
• Critical Success Factors for CRM Implementation
12 2001,Hamsi. All rights reserved.
The Environment
• A variety of financial products• Gamut of delivery channels &
partners• Variety of modalities in far flung
territories• Dispersed, incentive-differentiated
sales organizations• Management by effective,
entrepreneurial business divisions
Critical Success Factors
13 2001,Hamsi. All rights reserved.
To Succeed in this rapidly evolving environment
following are the critical success factors which Client must focus on
Critical Success Factors
14 2001,Hamsi. All rights reserved.
1. e-Enabling of entire CRM infrastructure (evolve into eCRM)
– Extends the purview of Customer Relationship Management
Critical Success Factor #1
15 2001,Hamsi. All rights reserved.
CRM Vs eCRMCRM eCRM
Scope of Relationships
Enterprise Extended Enterprise
Control of Relationships
Financial Institution Financial Institution & Customer
Nature of Relationships
Simple, Static Complex, Dynamic
Central Focus Company, Employee agents
Customer
Purpose of Solutions
Track customer interactions
Understand & increase customer relationship value
Critical Success Factor #1
16 2001,Hamsi. All rights reserved.
2. Data integration &
synchronization
CustomerKnowledgeRepository
Data MartSession & Transaction
HistoryMining & Analytics
Business Rules
BusinessManagement
CustomerInput
Contact InfoPreferences
Interaction FlowTransactions
Workflow Initiation CustomerService
Customer ProfileScripts
Targeted Info
Customers
Customer Profile Personalized UI
Targeted Info
EnterpriseIntelligenceMarketing
ContentMarketing
Campaigns/Customization
RulesTemplates/
Scripts
Customer Intelligence
CampaignFeedback
Collaborative Session
– Management of Interactive Customer Data Flows
– Real-time or batch modes both for operations & decision support
Critical Success Factor #2
17 2001,Hamsi. All rights reserved.
3. Industry-centric Workflow Management
– Workflow & Fulfillment templates specific to Financial Industry
– Capture the expertise of best marketing & sales people
– Enable specification of complex rules for interaction
The idea is to define, instill and reinforce the “best practices” to elevate performance
Critical Success Factor #3
18 2001,Hamsi. All rights reserved.
4. Multi-channel Integration
– Call Center– Internet– IVR– Remote Sales– Branch, E-mail, Mobile etc.
The point to make is what level of functionality is available in multiple channels
Critical Success Factor #4
19 2001,Hamsi. All rights reserved.
5. Integration of other Applications with CRM
– Call Center– CIF– Profiling datastore & personalization engine– Integration of existing Logs & Rules
Datastores– e-Mail management– Data Warehouse/Mart– Marketing Analytics, transactional data,
servers etc.
Ability to foster an integration platform to make existing systems take advantage of new dynamic environments
Critical Success Factor #5
20 2001,Hamsi. All rights reserved.
Typical Implementation Roadmap will be guided by:
- Current state- Objectives for eCRM project- Project timelines- Business priorities- User-base within the organization- Back-end integration- Phase-wise implementation
Implementation Approach
21 2001,Hamsi. All rights reserved.
Workflow Mgmt
Fulfillments
CallCenterAgents
DMAs
DSAs
Lead Generation
Complaint
Mgmt
Marketing
SFA
Opportunity Mgmt
Quote Generation
Order Entry
Tracking
Sales
Campaign
Mgmt
DataWarehouse
Customer
eCRM Tool
Objectives for eCRM Project
Objectives