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Growing The Business Through Customer Relationships & Retention

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