unit i crm

7/31/2019 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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