Masters in FMSCo-Taught By : Ms.Dimple,

Assistant Professor, FMS DepartmentNIFT-Delhi

CRM Success Factors Strong executive leadership, direction and communication An enterprise-wide CRM strategy Reportable metrics, rewards, incentives Consistent, channel-specific communications High performing project team Effective change management Technology aligned with processes Connections between front & back offices Adequate functionality Proven implementation approach High data quality Robust development tools Adequate application architecture Realistic buyer/user expectations Manageable project scope Minimal change in project approach Good business processes High business involvement Great implementation partners The right software package Concise CRM Requirements … and the list goes on …

New Frontiers in CRM

Customerization Mass Customization – Using flexible processes and

organizational structures to produce varied and individualized products and services at the price of standard mass-produced offerings.

Personalization – Customization of some features of a product or services so that the customer enjoys more convenience, lower costs, or some other benefit.

Segment-of-One Marketing – Based on the idea of the firm learning individual reactions to marketing strategies, then treating this customer differently than other customers.

Customerization – Mass customization + personalization + segment-of-one, dependent on a web-based or electronic interaction

Distinctions in Customerization

Mass Marketing Customerization

Relationshipwith customers

Customer is passive participant in process

Customer is active co-producer,

Customer needs Researched and articulated

May not be articulated

Product and service offering

Marketing and R&D drive offering

Customized based on customer interactions

Price Fixed prices with discounting

Value based pricing; customer determined

Communication Advertising and PR Integrated, interactive

Distribution Mix of direct and indirect

Direct (online)

Making CRM Happen

Evaluate products and processes customers’ terms.

Analyze the multiple channels through which the company interacts with customers.

Examine how the company understands its customers. Does it keep good data? How does it get that data? Does information flow between functional areas?

Provide fingertip access to all information. Analyze human resources and ensure that

everyone has an understanding of philosophy of CRM