crm
DESCRIPTION
ppt on crmTRANSCRIPT
CUSTOMER RELATIONSHIP MANAGEMENT
CUSTOMER
•“Customer is always right”•“The customer comes first”•“Customer=Valued assets”•“ It costs 6X more to sell to a new customer then to sell to an existing”•“One dissatisfied customer will tell 8-10 others”•“Increasing 5% customer retention, profit will increase by 85%”•“50 % chance to sell to existing customer, while one 15% chance to sell new customer”•“If complaints are handled properly, there is 70% of customer will do the business with company”
CUSTOMER LOYALTY
“Customer Loyalty” a deeply held commitment to RE-BUY or to RE-PATRONIZE a preferred product or service consistently in the future, despite situation influences and marketing efforts having the potential to cause switching behavior.”
WHAT IS CRM
Managing Customer relationship involves 2 objectives
1.To Provide org. the complete view of every customer at every touch point and across all channel,
2. To Provide customer with the single, complete view of the company and its extended channel.
Customer
Relationship Management
CUSTOMER RELATIONSHIP MANAGEMENT
1. CRM integrates several functions and also brings together processes, technology and people.
2. CRM is good understanding of the customers3. An approach which effectively MANAGES THE CUSTOMER
RELATIONSHIPS.4. An integrated and automated processes of SALES,MARKETING
and SERVICE STRATEGY.3. IT DEFINITION METHODOLOGIES, SOFTWARE AND USUALLY INTERNET
CAPABILITIES that help an organization to manage customer relation in an organized manner.
CRM provide family of modules or tools that enables the business and its employee to deliver fast, convenient, dependable and consisting services to the customer.
Leading vendors of CRM: Siebel system, Oracle, people soft, SAP AG
EXPLANATION OF CRMCreate a Database
Analysis
Customer Selection
Customer Targeting
Relationship Marketing
Privacy Issues
Metrics
CRM Framework
Main concept of CRM:
MANAGING VALUABLE CUSTOMER IN A LONG-TERM VIEW
Company should focuses on VALUE OF CUSTOMER, instead of short-term profit
Key Point to Succeed
CRM - PHASES
Acquire Enhance Retain
CustomerLifeCycle
Direct Marketing
Proactive serviceCross/Up-Sell
Sales Force Automation
Customer Support
CRM Functional Solution
Collaborative service
Shared Customer data
Partner Company Customer
CRM Integrated Solution
MAJOR APPLICATIONS - CRM
PR0SPECT OF
CUSTOMER
Sales: Cross-Sell
Up-Sell
Marketing &
Fulfillments
Customer
Service &
support
Retention & Loyalty program
Con
tact
&
Ac
coun
t M
gnt. Fax
WebTelephon
e
CRM – SALES
CROSS-SELLING
Customer of one product or service might also be interested in purchasing the related product or services.
Ex: Insurance
UP-SELLING
Selling a new or existing customer a better product then they are currently being using or seeking by proving product information, configuration.
CRM – MARKETING AND FULFILLMENT
Marketing fulfillment :
CRM system helps marketing professionals to accomplish Direct Marketing Campaign by automating tasks like; targeted marketing,
CRM S/W helps marketing professionals to capture the customer database, analyze the database and dig out information which is beneficial to the company.
CRM – CONTACT AND ACCOUNT MANAGEMNT
CRM S/W helps sales marketing and service professionals to capture the database and track the reverent data and plan the contact with prospect customer, company and business.
Information can be captured from all kiosks or touch points like telephone, mail, web, fax, personal information, retails store.
CRM – CUSTOMER SERVICE SUPPORT
CRM S/W provides Customer Service tools to access the customer database.Customer service manager will assign and manage the request for service by customer.
Ex: Call center: & Help desks to assists, suggests or resolve the problem of the customer with product or service by the product
PORTAL BASED - CRM
Provides all users with the tools and information that fits their individual roles and preferences.
Empowers all employees to respond to customer demand more quickly and become truly customer-faced.
Provides the capability to instantly access, link and use all internal and external customer information.
SOCIAL- CRM
Uses social media services, technique and technology to engage the customer.
Empowers all employees to optimize the power of social interactions to get closer to the customer.
Use of social networking site, Facebook, Twitter,
FUNCTIONS OF CRM
“Listen to your customer to create mutually beneficial relationship”
OPERATIONAL - CRM
• Goal of Operational CRM is to provide electronic support for the "front office" business processes, which include all customer contact (eg. sales, marketing and service).
• Aims to deliver customer-centric business processes and operations.
• Enables a 360-degree view of each customer
• Delivers personalised and efficient marketing, sales, and service
OPERATIONAL - CRM
OPERATIONAL CRMERP
Oder mgmt
SCMOrder promo
CSS
Sales Forceautomation
Marketing automation
Service automation
Mobile sales
Field service
BACK OFFICE
FRONT OFFICE
MOBILE OFFICE
COMPONENTS OF OPERATIONAL - CRM
Marketing Automation
Bring right mix of company’s product in front of each customer at the right time.
Sales forceAutomation
Collaborative tool that enables critical sales force and SF management functions like: contact mgnt, quote mgnt, forecasting, customer preferences.
OPERATIONAL - CRM
Enterprise marketing automation (EMA)
Customer service and support (CSS)
Servicing existing customer base through problem resolution system, CSS automates :
service requests Complaints product returns information requests
EMA provides information about the business including : Competitors : industry trends
ANALYTICAL - CRM
ANALYTICAL - CRM
To develop insight into customers’ needs.To determine what other products and services you can sell to your customers in order to increase the Average Revenue Per User (customer) ARPU.Profitability analysisPersonalisationAnalysis of customer behaviorPrediction of the probability of customer defection (churn analysis)
ANALYTICAL - CRM
DATA WAREHOUSIN
G
PRODUCT DATA MART
CUSTOMERDATAMART
CUSTOMERDATA MGMT
Application Marketing campaign
ANALYTICAL - CRM
DATA WAREHOUSIN
G
A process of assembling data from all over the company.Providing data to the company at the right time.Transforming data into consistent state so that it can be useful for decision making.
DATA MINING
The process of extracting and presenting data for actionable decision and to solve the business problems.
COLLABORATIVE - CRM
Collaborative CRM's ultimate goal is to use information collected from all departments to improve the quality of customer service
This requires a clear contact management strategy which enables everyone in an organisation to see who is talking to who.
COLLABORATIVE - CRM
VOICECONFERENCING WEBINAR E-MAIL
WEB STOREFRONT
DIRECTINTERACTION
CUST
ITRECTION
BUSINESS PROCESS WITH CUSTOMER FOCUS
1. Consistent, dependable, convenient interaction with
customer.2. Create new delivery channel3. Capture and analyze large amount of customer
data.4. Overall attempt to produce a unique/different
business experience for the customer.5. CRM is all about change process and therefore change management.6. What is the company’s experience in-change?7. Does it have a successful record.
CRM STRATEGIESCUSTOMER ACQUISITION : Build the relationship with customer profiling, search, buying pattern, comm.
CUSTOMER RETENTION : 1:1 comm., updating, analysis, improving customer satisfaction
LOYALTY : Re-buy, Re-patronize. Increase, search, capture.
EVANGELISM : Holistic approach to retain the customer. Brand promoters &Sales promoters.
COST REDUCTION : lower inventory, speedier delivery, marketing cost reduction.
CAN A ORGANIZATION PERSUE ALL 5 OBJECTIVES ????? EXTREAMLY DEFICULT
E-CRM
1. The objective of CRM and E-CRM are same 2. “E-CRM, Managing customer relationships
electronically, primarily through the internet, by organization is popularly known as E-CRM.”
3. E-CRM uses electronic medium like internet, wireless application protocol (WAP).
4. Factors to use E-CRM: high cost of acquiring new customer, Cut-throat competition globalization time saving of the customer personalized online relationships with
customer high customer churn rate given birth
to E-CRM4. Ways to personalize online relation with customer: E-Mail Help
desk software5. Opportunities to learn about their customer and offer them
highest level of services.