UNIT I CRM
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Transcript of UNIT I CRM
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Customer relationship
management
UNIT I
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CRM is the core business strategy that integrates
internal processes and functions, and external
networks, to create and deliver value to targeted
customers at a profit. It is grounded on high-quality
customer data and enabled by information technology.
Francis Buttle (2004)
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CRM is a philosophy and a business strategy,
supported by a system and a technology,
designed to improve human interactions in a
business environment.
Greenberg (2004)
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TRUST COMMITMENT
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GOALS OF CRM (or) MOST USER SEGMENT OF CRM (or)
WIDE USERS OF CRM (or) CRM BEST USERS
Marketing: A clearer view of customers and
more informed marketing investments
Sales: Get more leads and close more business
Customer service: Provide more value to
customers
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SALES
SALES ORDER MANAGEMENT ACTIVITY MANAGEMENT
sales call, meeting, etc
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OPPORTUNITY MANAGEMENT
Prospective customercompany details etc,
Type of sales opportunity and product interest
Expected sales revenue,
Expected sales closing date,
Key people in the sales opportunity and their roles
within the deal/company,
Key sales-related dates and milestones
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CUSTOMER SERVICE Solution Management - answers to Frequently Asked
Questions (FAQs)
Call Center Management
Collaborative customer support resource management
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MARKETING
Marketing planning
Campaign management
Lead management(raw details of company, person or businessopportunity. These are unqualified sales opportunities gathered at varioussituations, viz. trade shows, seminars, advertisements, purchases from externalsources and other marketing campaigns for the purpose of sales)
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BASIC STEPS OF CRM
Attracting present and new customers
Acquiring new customers
Serving the customers
Finally, retaining the customers
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OBJECTIVES OF CRM
To simplify marketing and
sales process
To make call centers more
efficient
To provide better customer
service
To discover new customersand increase customer revenue
To cross sell products more
effectively
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ADVANTAGES (or) BENEFITS OF CRM
Develop better communication channels
Collect customer related data
Create detailed profiles of individual customers
Increased customer satisfaction
Access to customer account history, order information,
and customer information at all touch points
Identify new selling opportunities
Increased market share and profit margin
Increased revenues
More effective reach and marketing
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MISUNDERSTANDINGS/PROBLEMS/CHALLENGES (CRM)
Identifying CRM with a software system
CRM is a complicated system, difficult to understand
CRM is expensive and unaffordable by small
enterprises
Who is responsible for CRM implementation - The
Marketing, Sales, Customer Service, or IT officials?-
Wrong assessment for the Return On Investment in
CRM
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NEED OF CRM Better Customer perceptiveness
Lead to Customer Satisfaction
Lead to Customer Loyalty
Lead to Customer Retention
Chances of getting referrals
Growth in revenue-
Cost to serve is low
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CRM ORIENTED MARKETING
http://xrmcubed.com/wp-content/uploads/2011/02/crm-suite3.jpg -
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TYPES OF CRM
1. OPERATIONAL CRM operational CRM combines data such as customers' names,
addresses, orders and other pertinent data into one database,
the correct analysis of the database is what matters
Marketing
Sales force automation
Service
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ANALYTICAL CRM
Customer Analytics
Marketing Analytics
Sales Analytics
Channel Analytics
Service Analytics
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COLLABORATIVE CRM
Collaborative CRM deals with synchronization and
integration of customer interaction and channels of
communications like phone, email, fax, web etc. with the
intent of referencing the customers a consistent and
systematic way
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CRM SIGNIFICANCE TO THE STAKEHOLDERS (OR) STAKEHOLDER
EXPECTATIONS FROM A CRM APPLICATION
Top Management:1. Enhanced customer experience2. Reduced Total Cost of Operations3. Improved business4. Company branding through
Improved Customer Service and diverseinnovative product portfolio.
Marketing Managers:1. Correct customer segmentation
based on various parameters.
2. Effective tracking of marketingbudgets.
3. Effective Campaign Management.4. Event planning.5. Performance monitoring for
dealers.
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Retail Store Agents / Call Center Agents / Field Sales Agents:
Ease of navigation.
High speed.
Availability of 360 degree view of the
customer.
Validations to prevent duplication ofdata (e.g. customers, products etc).
Pop-up messages for warnings,
disclaimers etc.
Profiling as per area of work (display
only need to know information).
Display prioritized list of activities.
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CUSTOMERS USING THE SELF CARE CHANNEL:
Ease of navigation.
Facility to search products and services easily.
Facility to chat with an agent in case of any
product/service related queries.
Facility to see all the charges (fixed, recurring, usage
related) associated with the product / service.
Display of Hot Offers.
Ease in bundling products and services.
Up-sell and cross-sell of products and services.
Minimal screen refreshes.
High speed.
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TRANSACTIONAL VS RELATIONAL APPROACH
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CRM BUSINESS CYCLE
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OVERVIEW OF THE CRM PROCESS
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