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Growing The Business Through Customer Relationships & Retention
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Growing The Business Through Customer Relationships & Retention






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Growing The Business Through Customer Relationships & Retention Growing The Business Through Customer Relationships & Retention Presentation Transcript

  • Growing the Business through Customer Relationships & Retention Joel Warady Principal Joel Warady Group October 1, 2005
  • Understanding the Value of each Relationship and Making Sure each Interaction Maximizes that Value What is CRM?
  • CRM: What is it? How Do I Change My Business
    • Functions: Sales, Marketing, Customer Service
    • Channels: Face to Face, Phone, Direct Mail, Interactive
    • Relationship: Customer, Supplier & Vendor
    • Competency: Process, Technology
  • What Should CRM Accomplish?
    • I want a company to know what I like
    • I want a company to inform me about offers in which I might be interested
    • I want a company to inventory what I normally purchase
    • I want a company to make my life easier
  • What is the Reality of Most Companies?
    • They really don’t know who I am
    • They sell me what they are interested in selling, not necessarily what I want
    • They won’t let me place an order without transferring me
    • They make my life more difficult
  • CRM & ERM Cut Across Organizations
    • Why Now? Technology!!!
      • Face to Face
      • Telephone
      • Direct Mail
      • Web Site
      • E-mail
      • IM (Skype, GoogleTalk, Yahoo, MSN)
      • Key Chain
      • Wireless
      • Interactive Kiosks
      • Interactive TV
  • What Does CRM Provide a Company?
    • It allows for a Central Source of Truth
    • Capture Information at Relationship Touchpoints
      • Marketing
      • Sales
      • Customer Service
  • What are the Benefits to the Customer?
    • Better Service
      • One Call Empowerment
      • More Channels for Satisfaction
    • New & Interesting Products
    • Mass Customization
    • Global Company, Local Feel
  • What are the Benefits to the Company?
    • Survival!!!
      • Higher Service Levels
      • Customer Brand Loyalty is fading
      • Customers Expect More
      • Customers Expect Information Immediately
    • Prosperity
      • More Wallet Share
    • Retention Share
      • It costs less than acquiring a customer
  • Wallet Share vs. Market Share
    • More Customers vs. More $ from same customers?
      • How deep can a company penetrate its current customer accounts?
    • Don’t find customers for your products
      • Find products for your customer
    • Reduce the cost of doing business
    • Create greater loyalty with your customers
  • Common Pitfalls for CRM
    • Cart Before the Horse
      • Companies Purchase CRM Product
        • Products are Expensive
        • Providers are Inexperienced
      • Systems Need Information
      • People Need Training
        • New Processes
        • New Skills
    • Plan First
  • Stages of Company Focus
    • Product Driven
    • Sales Driven
    • Database Driven
    • Customer Driven
    • Collaborative Driven
  • Creating Customers for Life (The Ten Commandments)
    • Ask customers what they want and give it to them again and again
    • Systems, not smiles
    • Underpromise, overdeliver
    • When the customer asks, the answer is always yes. Period.
    • Fire your inspectors and customer relations department
    • Encourage your customers to tell you what you’re doing wrong
    • Measure everything
    • Never charge your customers for something you would not charge your friends
    • Show people respect
    • Borrow, borrow, borrow