CRM

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  • The E-Business material shall at all times remain the property of E-Business Strategies, Inc. No license under any trade secrets, copyrights, or other rights is granted by this Agreement or any disclosure of Confidential Information hereunder. Any such permitted copies will be considered Confidential Information. Confidential Information of E-Business Strategies, Inc. may not be copied or reproduced by the Recipient without E-Business Strategies, Inc. prior written consent.

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  • 1. INTEGRATING PROCESSES TO BUILD RELATIONSHIPS: CUSTOMER RELATIONSHIP MANAGEMENT Business Process Unit V : Chapter – 6 G Roy Antony Arnold
  • 2. G Roy Antony Arnold
  • 3. Introduction
    • Customer dissatisfaction with service widespread
      • Expectations of customers higher than ever
      • “ Does your company deserve my patronage and loyalty?”
      • Starting point today: What was exceptional yesterday
    • Companies must view their service encounter through the eyes of their customers
      • To maintain ongoing relationships strong
      • Acquisition and selling costs of new customer very high
      • Dissatisfied customers primarily due to lack of customer service
      • 70% of complaining customers will do business again if their complaint quickly addressed
    G Roy Antony Arnold
  • 4. The Basics of CRM
    • Timely delivery of excellent service
    • Combination of business process and technology
    • When competition is fierce, companies go back to basics: create value for customer
    • Execs must ask
      • Can their companies’ infrastructures allow value creation?
      • Can their companies’ existing CRM infrastructures support doing business in the e-world
    G Roy Antony Arnold
  • 5. Top Demand Drivers in CRM Verticals
    • Telecommunications – Primary CRM applications include:
      • Multi-channel contact centers
      • Business intelligence
      • Customer data integration and analysis
      • Web-based billing systems
      • Marketing automation/campaign management systems
      • Mobile CRM
    • Banking and Financial Services – Primary CRM applications:
      • Profitability analysis
      • Target marketing
      • Data mining
      • Product personalization
    G Roy Antony Arnold
  • 6. Contd…
    • Retail – Primary CRM applications use e-commerce transaction and point-of-sale data to drive:
      • One-to-one marketing
      • Cross selling
      • Personalized content management and merchandizing
    Few retailers are providing improved interaction but many customers are demanding it --- this is an opportunity for companies to distinguish themselves. G Roy Antony Arnold
  • 7. Strategic Business Drivers
    • Are these “hot buttons” that influence your business?
      • Customer-driven businesses
      • 360-degree customer view
      • Personalization/one-to-one marketing
      • Complex and more diverse channels
      • Automated sales
      • Shrinking margins due to product commoditization
      • Scattered global customers
    These are strategic level questions aimed at CxO and other senior level executives to uncover CRM opportunities. G Roy Antony Arnold
  • 8. Strategic Business Drivers
    • This chapter
      • Clarify the concept of multi-channel organization
      • Discuss apps supporting customer-focused business model
      • Discuss how marketing practices and systems must be reworked to support ecommerce environment
    • Service levels on the Web today often leave a lot to be desired. As buyers jump from site to site -- only to ultimately abandon the shopping cart without buying anything from anyone -- revenues slip away.
    G Roy Antony Arnold
  • 9. Defining CRM
    • Integrated sales, marketing, and service strategy
      • precludes lone showmanship
      • depends on coordinated enterprise-wide actions
    • CRM software suite
      • Helps better manage customer relationships by tracking customer interactions of all types
      • Automates selling and customer service cycle
        • direct-mail marketing campaigns, telemarketing, telesales, lead qualification, response mgmt, lead tracking, opportunity mgmt, quotes and order configuration
    G Roy Antony Arnold
  • 10. Defining CRM
    • Business Goals
      • Using existing relationships to grow revenue
      • Using integrated information for excellent service
      • Introducing consistent, replicable channel processes and procedures
    CRM is an integrated framework and strategy, not product G Roy Antony Arnold
  • 11. Managing the Customer Life Cycle: The Three Phases of CRM
    • Metrics
    • Direct and indirect sales
    • Customer service improvements
    • Metrics
    • Tangible and intangible benefits
    • Brand equity gains
    • Metrics
    • Lifetime value
    • Share of wallet
    G Roy Antony Arnold
    • Differentiation
    • Innovation
    • Convenience
    Acquire Enhance Retain
    • Bundling
    • Reduce Cost
    • Customer Service
    • Adaptability
    • Listening
    • New Products
  • 12. The New CRM Architecture: Organizing around the Customer
    • To determine how CRM and supporting tech will work together for your firm, ask these questions
      • Are most of company’s apps designed simple to automate existing departmental processes?
      • Are these apps capable of identifying and targeting best customers, those who are the most profitable?
      • Are these apps capable of real-time customization of products and services?
      • Do these apps track when the customer contacts the company, regardless of the contact point?
      • Are these apps capable of creating a consistent user experience across all contact points the customer chooses?
    • If answers to each is no, seriously consider CRM architecture
    G Roy Antony Arnold
  • 13. The New CRM Architecture: Organizing around the Customer Cross-Functional Processes Breaking Down Departmental Walls Enhance Integrated CRM Applications { Retain Direct Marketing Sales Force Automation Cross-Sell & Up-Sell Customer Support Proactive Service Complete Integrated Solutions Partial Functional Solutions Customer Lifecycle Acquire G Roy Antony Arnold
  • 14. Features of the New CRM Architecture
    • Integrates solutions spanning entire customer life cycle
      • Proactive marketing
      • Customer care
      • Call centers
    • Automated transaction management capabilities
    • Personalization and one-to-one marketing
    • Customer analytics and business intelligence
    • Field sales automation
    G Roy Antony Arnold
  • 15. Portfolio of CRM Process Competencies G Roy Antony Arnold Customer Service and Billing Loyalty & Retention Programs Field Sales and Service
    • Sales
    • Cross-sell
    • Up-sell
    • TeleSales
    Marketing and Fulfillment Prospect or Customer Fax Email Telephone VRU Web Contact Management Technical Infrastructure
  • 16. How it Fits Together G Roy Antony Arnold
  • 17. What Capabilities Make Up Leading Edge CRM?
    • Operational excellence
      • Ensuring responsiveness and accurate delivery
      • Providing seamless interaction s across all interaction channels
    • Analytical insight
      • Sales planning and forecasting
      • Analyzing, predicting and driving customer value and behaviour
      • Identifying the right time to make the right offer to the right market
      • Consistently enhancing the customer experience in virtual channels
    G Roy Antony Arnold C Collaborative A Analytical O Operational
  • 18. What Capabilities Make Up Leading Edge CRM?
    • Collaborative optimization
      • Involving customer s to better accommodate their needs
      • Demand driven supply chain and fulfillment integration
    G Roy Antony Arnold C Collaborative A Analytical O Operational
  • 19. Integration Requirements of Next Gen CRM Infrastructure
    • Closed loop CRM infrastructure must integrate
      • Customer content
      • Customer contact information
      • End-to-end business processes
      • The extended enterprise or partners
      • Systems
    Less than 2% of companies provide on-demand cross-channel integration of website and call center 42% of top-ranked Web sites took longer than five days to reply to customer emails or never replied at all G Roy Antony Arnold ENGAGE SERVICE FULFILL TRANSACT
  • 20. Next Generation CRM Trends
    • The multi-channel integrated experience
    • The rise of the call center as a multipurpose customer contact point
    • Listening portals: Next-generation CRM capabilities
    • CRM portals, sales force ASPs, and hosted applications
    G Roy Antony Arnold Back Office Application Integration Customer Partners Purchases History Operations Marketing Billing Front Office Touch Points Web E Mailrs Call Center SFA POS Direct Mail Wireless Customers
  • 21. Multi-Channel CRM
    • Multi-channel shopping behavior has become mainstream; yet widespread retailer excellence remains elusive ( some catalog retailers are exceptional)
    • Women and young adults are multi-channel shoppers
    • The role of the catalog has never been more important (Sears recently bought Lands-End)
    • Analytical CRM -- Segmentation and personalization capabilities are becoming more critical
    G Roy Antony Arnold
  • 22. Multi-Channel Shopper Profiles Store Online Catalog Store + Catalog Online + Store Online + Catalog
    • Tri-Channel Shoppers are demanding (well-informed) consumers;
    • Servicing Tri-Channel Shoppers is very challenging-requires high-levels of coordination!
    G Roy Antony Arnold
  • 23. Primary Reasons for Tri-Channel Shopper Displeasure
    • Late delivery
    • Poor product information
    • Product out-of stock
    • Product misrepresentation
    • Website performance issues
    • High shipping and handling charges
    How can CRM applications help address these issues? G Roy Antony Arnold
  • 24. Roadmap for Managers
    • Involve top management
    • Define a vision of integrated CRM
    • Establish the CRM strategy and specify its objectives
    • Understand the customer
    • Review cultural changes that will need to occur
    • Develop a business case
    • Evaluate current readiness
    G Roy Antony Arnold
  • 25. Roadmap for Managers
    • Evaluate appropriate applications with an uncompromising focus on ease of doing business
    • Identify and target quick wins
    • Put ownership of the end-to-end project in the hands of a single manager
    • Implement in stages
    • Be sure to create a closed-loop CRM environment
    • Create concrete measurement goals
    G Roy Antony Arnold
  • 26. Roadmap for Managers
    • CRM Scorecard
    G Roy Antony Arnold
  • 27. Anticipate Organizational Changes
    • Organizational resistance to CRM inevitable
      • Current incentive systems work against CRM as they reward performance that deals with only part of the customer’s relationship with organization
      • Requires careful transition from existing silo-centric infrastructure to an integrated customer-centric infrastructure
      • Organizations with global operations must manage customer interactions in different languages, time zones, currencies, and regulatory environments
    • Impact on corporation’s front line staff particularly evident
    G Roy Antony Arnold
  • 28. CRM Key Benefits
    • Deeper understanding of customers
    • Increased marketing and selling opportunities
    • Identifying the most profitable customers
    • Making it easier for sales and channel partners to sell
    • Faster response to customer inquiries
    • Increased efficiency through automation
    • Receiving customer feedback that leads to new and improved products or services
    • Obtaining information that can be shared with business partners
    G Roy Antony Arnold
  • 29. Measuring Success or ROI
    • Accelerated revenue growth
    • Fewer product returns
    • Increased sales conversion per sales channel (the ratio of leads to customer sales)
    • Reduced cost per customer order
    • Increased profit per sales person
    • Reduced technical support time
    G Roy Antony Arnold
  • 30. CRM Assessment – Gather Information
    • What do your customers expect from you?
    • What percentage of product and services sales come from your current installed base?
    • How much do your customers know about the products and services you offer?
    • Are your employees equipped with the information they need to understand your customers’ preferences, needs and interests?
    • How effective are your marketing efforts compared to your competitors?
    G Roy Antony Arnold