what is crm?
DESCRIPTION
LearTRANSCRIPT
CRM Basics
Customer Relationship Management
www.fayebsg.com
Agenda • Overview of Presenter• What is CRM?• What CRM Can Do for You• Fundamentals of CRM• Stages of CRM• Functions of CRM• Objectives of CRM• Improvements• Areas of activity• Benefits• Leading Solutions• Making CRM happen• Implementing• Summary• Q & A
www.fayebsg.com
David Faye
www.fayebsg.com
As CEO of Faye Business Systems Group I have over 20 years experience in consulting, implementing, customizing, and supporting CRM systems and software.
The right CRM software specifically tailored to your business can have a positive effect on your company…increasing revenue, improving customer relationships, and helping employees work more effectively and efficiently.
Faye Business Systems Group
Faye Business Systems Group is a software and technology consulting firm that assists a variety of organizations in the selection, implementation, and customization of the right software for the right task.
Specializing in CRM, Accounting & ERP software, and offering specialized services such as: Project management, consulting, programming, training, support, packaged software implementations and custom accounting software.
www.fayebsg.com
What is CRM?C R M = Customer Relationship Management
• comprehensive way to manage the relationship with your customers and potential customers — with the purpose to create a long-lasting and mutual benefit.
• Manages, tracks, and measures the customer relationship from lead to sale to close to customer relationship.
• Allows you to provide a personal, unique experience for every customer
• “CRM” usually relates to software, but it doesn’t have to be
• Let’s not forget the point…
www.fayebsg.com
Increase sales, improve customer retention, and/or improve employee effectiveness
What is CRM?
Information typically “tracked” in a CRM System can include:
• Customer contact information (business and personal)• Recent customer activity• Customer support issues, cases, and notes• Commitments made to the customer• Status of current orders and/or sales history• History of products purchased• Log of phone calls, emails, meetings, etc.• Any other personal information that can strengthen the relationship
www.fayebsg.com
The Top 6 Things CRM Can Do For You
(1) Gather and manage all critical customer data in one central location.
www.fayebsg.com
(2) Create standardized processes.
(4) No more weekly status reports – status is available up to the minute
(3) Automation of Your Unique Sales Process (make it repeatable and easily trainable)
(5) Improve collaboration
(6) Greater visibility and metrics about customers
Fundamentals of CRM
• Understand your customer
• Exceed their expectations • Provide superior service and support • Establish and retain a long-term relationship
www.fayebsg.com
Stages in the development of a Customer Relationship
The Pre-relationship StageThe event/meeting that opens a buyer to seek a new business partner. The Early StageStart of a relationship between the buyer and seller although a great degree of uncertainty and distance exists. The Developmental StageAn increased level of communications/commitment resulting in exchange. The Long-term StageImportance of relationship evaluated and acted upon. The Final StageThe interaction between both parties becomes institutionalized.
www.fayebsg.com
CRM Software helps in All Stages of the Relationship!
Stages in the development of a Customer Relationship
(and CRM Software)
The Pre-relationship StageThe event/meeting that opens a buyer to seek a new business partner. The Early StageStart of a relationship between the buyer and seller although a great degree of uncertainty and distance exists. The Developmental StageAn increased level of communications/commitment resulting in exchange. The Long-term StageImportance of relationship evaluated and acted upon. The Final StageThe interaction between both parties becomes institutionalized.
www.fayebsg.com
Lead Tracking
Opportunity Tracking
Data Analysis
Anticipating Needs
Automation & Complete Knowledge
CRM Objectives• Lifetime Value
– Refers to the net present value of the potential revenue stream for any particular customer over a number of years.
– Starts with current activity then estimates the value of the relationship to include potential relationship.
– Opportunities to increase revenues from greater visibility• Customer Ownership
– Building brand equity, maintaining vigilant customer contact, keeping current with the market and trends.
– Increase customer retention = increase in profit.– Easier to sell more stuff to existing customers than to get new….
• Greater Internal Efficiency– Improved speed – Reduction in Costs
www.fayebsg.com
CRM Programs Can Potentially Improve
• Analytical CRM– Customer Segmentation– Trend Analysis
• Operational CRM– Campaign Management– Tele-Marketing/Tele-Sales– Activity and Time Management– Quotation and Order Processing– Delivery and Order Fulfillment– Customer Service and Support– Remote Access
• Collaborative CRM– Enterprise Portals– Customer Access– Supplier Access– Personalization
www.fayebsg.com
Typical Areas of CRM Activity
• Sales Force Automation (SFA)• Customer Service and Support (CSS)• Help Desk• Marketing Automation
www.fayebsg.com
www.fayebsg.com
New Frontiers in CRMCustomerization
– Mass Customization = Flexible processes and organizational structures to produce varied and individualized products and services.– Personalization = Customization of features for more
convenience, lower costs, and can utilize 100% of the CRM program.
– Segment-of-One Marketing = Based on the idea of 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
CRM: The Benefits
www.fayebsg.com
Successful CRM systems create higher profits, long term lower costs with the attraction and retention of customers, and streamlined workflow.
What you can expect:
• Increased revenues• More cross-sell and up-sell success• Trimmed sales cycles• More-efficient call center operations• Improved sales forecasting• Fewer customer issues• Better-informed marketing and sales decisions
Leading CRM Solutions
www.fayebsg.com
New Frontiers in CRMCustomerization
– Mass Customization = Flexible processes and organizational structures to produce varied and individualized products and services.– Personalization = Customization of features for more
convenience, lower costs, and can utilize 100% of the CRM program.
– Segment-of-One Marketing = Based on the idea of 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
Leading CRM Solutions
www.fayebsg.com
Making CRM Happen• Evaluate current products and processes.• Make a list of goals for CRM• Make a list of requirements for the software• Get buy-in and commitment from staff !!!!!• Survey available products• Engage a consultant (if needed)• Select the appropriate solution
www.fayebsg.com
Implementing CRM• Get Buy-In !!!!• Start Small – get a quick win• Add on as you go• It’s less about the software you choose
and more about how you implement it.
www.fayebsg.com
Summary
• CRM Software is a tool to help manage customer relationships
• It exists to increase sales, improve customer retention, and increase employee effectiveness
• Typical areas are SFA, Customer Support, Help Desk, and Marketing Automation
• Implement Wisely
www.fayebsg.com
Q & A
www.fayebsg.com
http://www.marketingautomationuniversity.com