CRM Success Factors (Information Strategy, B-School)

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CRM Success Factors (Information Strategy, B-School)

  1. 1. CRM: Success Factors Ryosuke Okamura Ittiya Yodvanich James Igoe Brian Toia IT Strategy and Management Professor Aditya Saharia Summer 2004
  2. 2. <ul><li>Introduction </li></ul><ul><ul><li>Driver for CRM </li></ul></ul><ul><ul><li>Overview of technology </li></ul></ul><ul><ul><li>Costs / Expected benefits </li></ul></ul><ul><ul><li>Project Management </li></ul></ul><ul><ul><li>Best Practices </li></ul></ul><ul><li>CIGNA - An CRM Casualty </li></ul><ul><ul><li>An Unqualified Failure </li></ul></ul><ul><ul><li>Failure Factors </li></ul></ul><ul><ul><li>Lessons </li></ul></ul><ul><li>Safeco Corporation - Insuring Success </li></ul><ul><ul><li>Business Drivers </li></ul></ul><ul><ul><li>Project Strategy </li></ul></ul><ul><ul><li>Results </li></ul></ul><ul><li>Success Factors </li></ul><ul><ul><li>Customer Satisfaction </li></ul></ul><ul><ul><li>Metrics and ROI </li></ul></ul><ul><ul><li>Commitment from Leadership </li></ul></ul><ul><ul><li>Reengineering </li></ul></ul><ul><ul><li>Benefits of CRM </li></ul></ul>CRM: Success Factors Overview
  3. 3. <ul><li>Driver for CRM </li></ul><ul><ul><li>Sales Force Automation </li></ul></ul><ul><ul><li>Return on Total Customer Relationship… </li></ul></ul><ul><li>Overview of technology </li></ul><ul><ul><li>Data Warehouse </li></ul></ul><ul><ul><li>GUI </li></ul></ul><ul><ul><li>Analytical Tools (trends/correlations) </li></ul></ul><ul><ul><li>Vendors (size, type) </li></ul></ul><ul><li>Costs / Expected benefits </li></ul><ul><ul><li>Positive Claims </li></ul></ul><ul><ul><li>20% Actually Track </li></ul></ul><ul><ul><li>Intangibles (satisfaction, retention) </li></ul></ul><ul><li>Project Management </li></ul><ul><ul><li>Scope Creep </li></ul></ul><ul><ul><li>Resistance/Training </li></ul></ul><ul><ul><li>Expectations/Analysis </li></ul></ul><ul><li>Best Practices </li></ul>CRM: Success Factors Introduction
  4. 4. <ul><li>An Unqualified Failure </li></ul><ul><ul><li>Loss in Healthcare Membership </li></ul></ul><ul><ul><li>Stock Downgrade </li></ul></ul><ul><ul><li>Customer Dissatisfaction </li></ul></ul><ul><li>Failure Factors </li></ul><ul><ul><li>Rushed Deployment </li></ul></ul><ul><ul><li>Inadequate Testing </li></ul></ul><ul><ul><li>Reduced Staff </li></ul></ul><ul><ul><li>Lack of Training </li></ul></ul><ul><li>Lessons </li></ul><ul><ul><li>Customer Service and Satisfaction </li></ul></ul><ul><ul><li>Clear Metrics </li></ul></ul><ul><ul><li>Four Essentials </li></ul></ul><ul><ul><ul><li>Understanding Strategic Aims </li></ul></ul></ul><ul><ul><ul><li>Robust Benchmarks </li></ul></ul></ul><ul><ul><ul><li>Quick Wins versus Long-term ROI </li></ul></ul></ul><ul><ul><ul><li>Prepared to Adjust in Light of Experience </li></ul></ul></ul>CRM: Success Factors CIGNA - A CRM Casualty
  5. 5. <ul><li>Business Drivers </li></ul><ul><ul><li>Lack of Transparency </li></ul></ul><ul><ul><li>No View of Customers </li></ul></ul><ul><ul><li>Targeting Demographics </li></ul></ul><ul><ul><li>Become Customer-Focused </li></ul></ul><ul><li>Project Strategy </li></ul><ul><ul><li>Reengineer Call Center Processes </li></ul></ul><ul><ul><li>Build Comprehensive End-to-End System </li></ul></ul><ul><ul><li>Train Staff </li></ul></ul><ul><ul><li>Common Microsoft Platform </li></ul></ul><ul><li>Results </li></ul><ul><ul><li>Net Income: From Loss to Profit </li></ul></ul><ul><ul><li>Annuity Sales, Lead Industry in Growth </li></ul></ul>CRM: Success Factors Safeco - Insuring Success
  6. 6. <ul><li>Customer Satisfaction </li></ul><ul><ul><li>Drucker (1954), “…keeping customers.” </li></ul></ul><ul><li>Metrics and ROI </li></ul><ul><li>Commitment from Leadership </li></ul><ul><li>Organization Restructuring/Reengineering </li></ul><ul><li>Benefits of CRM </li></ul><ul><ul><li>Cross-selling, Targeting, New Products </li></ul></ul><ul><ul><li>Stronger Relationships </li></ul></ul><ul><ul><li>Reduction in Price Competition </li></ul></ul><ul><ul><li>Operational Efficiency </li></ul></ul><ul><ul><li>Unique Knowledge of Consumers </li></ul></ul>CRM: Success Factors Success Factors
  7. 7. Ryosuke Okamura Ittiya Yodvanich James Igoe Brian Toia IT Strategy and Management Professor Aditya Saharia Summer 2004

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