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TRANSCRIPT
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The true business of every company is to make
and keep customers
Peter Drucker, 1954
Customer Relationship Management is the
practice of identifying attracting and retaining
the most valuable customers to sustain
profitable growth
* * *
CRM
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Customer Relationship Management
is the process of making and keeping
customers and maximizing their
profitability, behaviors and
satisfaction.
CRM
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CUSTOMER
A Customer is the most important visitor on our
premises. He is not dependent on us. We are
dependent on him. He is not an interruption in our
work. He is the purpose of it. He is not an outsider on
our premises. He is part of it. We are not doing a
favour by serving him. He is doing us a favour by
giving an opportunity to do so. A customer is not a
person to argue with. No one ever won an argument
with a customer.
Somebody said it in early 40s Can you guess ?
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There is only one boss: thecustomer. He can fire
everybody in the company,from the Chairman on down,simply by spending his money
somewhere else.Sam Walton
Founder, Wal Mart
THE CUSTOMER
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Customer is not King
Customer is a Dictator
Customer is an Extremist
TODAYS CUSTOMER AN EXTREME
VIEW
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Prospects
Enquiries
Repeat
customers
Partners
AdvocatesClientsFirst-time
customers
Inactive or
ex-customerSource: Marketing ManagementPhilip Kotler
Maintaining Relationship : The key
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Other Reasons for the birth of CRM
It costs ten times more to sell to a new customerthan to sell to an existing one.
A typical dissatisfied customer will tell 8 to 10
people about his or her bad experience. The odds of selling to a new customer are 15
percent, whereas the odds of selling to an existingcustomer are 50 percent.
Eighty percent of complaining customers will dobusiness with the company again if it quickly takes
care of the problem.
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CUSTOMER HAS THE KEY
Study by TravelStudy by Travelllers Insuranceers Insurance
45% of customers switchingsuppliers cite customer service
issues as the reason for theswitch.
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Make it easy for customers to do
business with you
Customer relationship count
CRM Mantras
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Relationship
Which products of yours does this customer have ?What is the total value of this customer relationship ?
If he calls up at the call center, would the agent know the
entire relationship ?
Can he talk about all your different products in the samecall ?
Do you know that it is in his best interest to buy product
X from you now, without his telling you ?
Can you gather intelligence from each one of his
transactions ?
Need to understand entire relationship !
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Is this a different way of business ?
Old waySell products
Conduct product research : What we sell ?
Have product sales and profitability targets
Have product specialist groupsIntroduce new offerings every few years / months
Know the customer through personal contact
Constantly search for new customer acquisition
Think products, think transactions !
(Contd.)
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Identify the Most valuable Customers
(MVCs)
Mark them on to a special club (Club
Premire in Jet Airways, The Inner
circle Taj)
Train all customer contact employees
to take special care of them
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Reward loyalty
Frequent flyer program
Discount coupons, gifts
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Measure service quality and
customer satisfaction
Get individual feed-back from
customers
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WinWin
CustomersCustomersKnowKnow
CustomersCustomers
Customers Experience Is Your
Brand
Customer
Satisfaction
Product
Satisfaction
Process
Satisfaction= +
KeepKeep
CustomersCustomers
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THANK YOU
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Any question?