enables companies to effectively manage relationships with their customers.
which dictate re-designing of functional activities
which drive re-engineering of work processes
which require CRM technology to implement
CRM is a "chain reaction"
Why is CRM Necessary? Gather & access information about customers' buying histories, preferences, complaints, and other data so they can better anticipate what customers will want. The goal is to instill greater customer loyalty CRM helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers. Identifying the most profitable customers (Pareto’ s Principle 80:20)
CRM at the forefront - Reasons Global competition & products harder to differentiate, Product-centric view to a customer-centric view Technology has ripened to the point where it's possible to put customer information from all over the enterprise into a single system
Types of CRM /Areas of Application Traditional CRM -transaction level data about individuals and products-sales force automation, marketing automation and call center systems Operational CRM -tracking customer activity-analytics - strategic planning support tool Collaborative CRM -provides a point of interaction between customers; staff and business partners, through a portal eCRM - online components of CRM
Market Movement The Indian CRM Market - Rs. 50-100 Crores CRM Market - segmented Services segment CRM Services Market > Market for CRM Software Indian Market for CRM Software and Services would grow to about Rs. 100 Crore by 2002 Software Services Training Consultancy Integration Out-Sourced CRM Services