15789718 Customer Relationship Management Ppt

7/31/2019 15789718 Customer Relationship Management Ppt

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CRM

Nikhil M Patil 11BSP0619

Nikhil Yadav 11BSP0621

Mayank Sikka 11BSP

Mayank Gupta - 11BSP

Gaurav Kabadi - 11BSP


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CRM

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Customer relationship management (CRM)

Term applied to processes implemented by a company to

handle its contact with its customers

CRM is a software-based approach to handling customer

relationships

Store information on current and prospective customers


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APPLICATIONS

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All forms of trading

Direct

Traditional

Retail

E-commerce

Wholesale

Combination


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APPLICATIONS

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New convergence

Telephony & telemarketing

Internet

Mobile, SMS

Digital TV

Cable & satellite


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CUSTOMERREQUIREMENTS

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Control over buying process

Information, comparison, selection, easy to find

Best possible price

Delivery (free), quality

All payment options

Secure Communication designed to suit needs

Computerized, complex, caring


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APPLICATIONS

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All forms of trading

Direct

Traditional

Retail

E-commerce

Wholesale

Combination


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APPLICATIONS

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New convergence

Telephony & telemarketing

Internet

Mobile, SMS

Digital TV

Cable & satellite


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CRM

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Customer relationship management (CRM)

From the outside, customers interacting with a company

perceive the business as a single entity, despite often

interacting with a variety of employees in different roles

and departments

CRM is a combination of policies, processes, andstrategies implemented by a company that unify its

customer interaction and provides a mechanism for

tracking customer information


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APPLICATIONS

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Information in the system can be accessed and

entered by employees in different departments

Sales

Marketing

Customer service

Training

Professional development

Performance management

Human resource development


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APPLICATIONS

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Details on any customer contacts can also be

stored in the system

The rationale behind this approach is to improve services

provided directly to customers

To use the information in the system for targeted

marketing and sales purposes


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RELATEDASPECTS

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Many inter-related aspects

Front office operation

Back office operations

Business relationships

Analysis


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ASPECTS

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BUSINESSSTRATEGYPERSPECTIVE

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Three key phases

1. Customer Acquisition

2. Customer Retention

3. Customer Extension

Three contextual factors

4. Marketing Orientation 5. Value Creation

6. Innovative IT.


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CRM ASBUSINESSSTRATEGY

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1. CUSTOMER ACQUISITION

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Attracting our customer

For the first purchase

We have acquired our customer

Growth

Market orientation, innovative IT & value creation

Aim is to increase the number of customers thatpurchase from us for the FIRST TIME


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2. CUSTOMER RETENTION

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Re-purchase

Our customer returns and buys for a second time

This is most likely to be the purchase of a similar product

or service, or the next level of product or service.

Growth


Aim is to increase the number of customers that

purchase from us REGULARLY


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3. CUSTOMER EXTENSION

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Additional, supplementary purchases

Our customers are regularly purchasing

We introduce products and services to our loyal

customers different from original purchase

Once purchased, our goal is to retain them as customers

for the extended products or services

Growth


Aim is to increase the number of customers that

purchase ADDITIONAL products


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4. MARKETINGORIENTATION

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Focused upon the three levels of needs of

customers

Actual, tangible product

Core product and its benefit

Also the augmented product such as a warranty and

customer service


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5. INNOVATIVE IT

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Updated IT

Efficient, speedy and focus upon customer needs

Whilst IT and/or software are not the entire story for

CRM, it is vital to its success

CRM software collects data on consumers and their

transactions

Organizations will track individuals, and try to market

products and services to them based upon similar buyerbehavior seen in other individuals


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ADVANTAGES

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CRM is corporate strategy composed of

applications, technology and products that fulfill

three essential requirements

1. Organization perspective

2. Customer perspective

3. Front office staff perspective


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1. ORGANIZATIONPERSPECTIVE

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360 view of each customer

For consistent and unified contact with that customer

whenever anyone anywhere in the enterprise deals with

that customer

This knowledge increases the opportunities for sales and

the effectiveness of customer service


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Customers to have a consistent view

To enable your customers to have a consistent view of

your enterprise, regardless of the way the customer

contacts you

This improves customer satisfaction and customer

retention

2. Customer perspective


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3. FRONTOFFICESTAFFPERSPECTIVE

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Staff performance

To enable front office staff to perform sales, service and

marketing tasks more efficiently as a team

Increasing expertise and reducing costs


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15789718 Customer Relationship Management Ppt

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Transcript of 15789718 Customer Relationship Management Ppt