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  • 1. Customer Relationship Management
  • 2. CRM is…
    • a comprehensive business model for increasing revenues and profits by focusing on customers.
    • both an overarching business philosophy and a process tool to facilitate a truly customer-driven enterprise.
  • 3. CRM is…
    • “… a journey of strategic, process, organizational and technical change whereby a company seeks to better manage its enterprise around customer behaviors. This entails acquiring knowledge about customers and deploying this information at each touchpoint to attain increased revenue and operational efficiencies.”
            • PriceWaterhouse Coopers
  • 4. Customer-Centric Cultures Include…
    • Adopting a partnership business model with mutually shared risks and rewards
    • Defining selling as customer business consultation
    • Formalizing customer analysis processes and agreements
    • Being proactive in educating customers about value chain and cost reduction opportunities
    • Focusing on continuous improvement principles stressing customer satisfaction
  • 5. Objectives of CRM
    • Customer Retention - retain loyal and profitable customers and channels
    • Customer Acquisition - acquire customer based on known characteristics which drive growth and increase margins
    • Customer Profitability - increase individual customer margins by offering the right product at the right time
  • 6. Advantages of CRM
    • Reduces advertising costs
    • Increases awareness of customer needs
    • Tracks the effectiveness of promotional campaigns
    • Allows competition for customers based on service, not prices
    • Prevents overspending on low-value clients and under spending on high-value ones
    • Speeds the time it takes to develop and market a product
    • Improves use of the customer channel
  • 7. The CRM Process Cycle
  • 8. 10 Critical Questions in CRM
    • Customers
      • Who are our customers?
      • What do our customers want and expect?
      • What is the value potential of our customers?
    • The Relationship
      • What kind of relationship do we want to build?
      • How do we foster exchange?
      • How do we work together and share control?
    • Managerial Decision Making
      • Who are we?
      • How do we organize to move value closer to our customers?
      • How do we measure and manage our performance?
      • How do we increase our capacity for change?