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Customer Relationship Management


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CRM, Customer Relationship Management

CRM, Customer Relationship Management

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  • 1. • In today's competitive environment, finding and keeping customers is more critical than ever. • It is also less costly to retain existing customers than it is to find new ones. • As a result, the concept of CRM has been developed as a strategic process for businesses to approach customer relations systematically
  • 2. • CRM systems enable businesses to actively manage customer relations in an organized and strategic manner. • The general purpose of CRM is to enable organizations to better manage their customers through the introduction of reliable systems, processes and procedures. • In practice that means developing a company's methodologies, internal operations, software and Internet capabilities to be able to better address customer needs and, as a result, make customer relationships more profitable
  • 3. Using a CRM system, a business can keep track of key customer information such as, 1- Contacts. 2- Communications. 3- Accounts 4- Buying Histories & Preferences. 5- Matching Customers Needs With Products & services offering.
  • 4. • Companies can analyze the data to: 1- Identify their best customers 2- Enrich and individualize customer contact. 3- Manage marketing campaigns. 4- Reduce customer response times 5- Serve wider geographical regions
  • 5. Customer relationship management is a corporate level strategy which focuses on creating and maintaining lasting relationships with its customers. • A successful CRM strategy cannot be implemented by simply installing and integrating a software package and will not happen overnight. • Changes must occur at all levels including policies and processes. • All aspects of the business must be reshaped to be customer driven. • To be effective, the CRM process needs to be integrated end-to-end across 1- Sales
  • 6. A good CRM program needs to: • Identify customer success factors • Create a customer-based culture • Adopt customer-based measures • Develop an end to end Process to serve customers • Recommend what questions to ask to help a customer solve a problem • Recommend what to tell a customer with a complaint about a purchase • Track all aspects of selling to customers and prospects as well as customer support.
  • 7. There are three parts of application architecture of CRM: 1- Operational - Automation to the basic business processes such as Marketing, Sales, Services. 2- Analytical - support to analyze customer behavior, implements business intelligence alike technology. 3- Collaborative - Ensures the contact with customers such as Phone, Email, Fax, web.
  • 8. The operational part of CRM typically involves three general areas of business: 1- Sales Force Automation SFA automates some of the company's critical sales and sales force Management functions for e.g.. 1- Account Management. 2-Contact Management. 3- Forecasting. 4- Sales Administration. 5- Keeping Tracks of Customer Preferences. 6- Buying Habits. ` 7- Performance Management.
  • 9. 2- Customer service and support (CSS)  CSS automates some 1- Service Requests. 2- Complaints. 3- Product Returns. 4- Information Requests. 3- Enterprise Marketing Automation EMA provides information about the 1- Business Environment. 2- Competitors. 3- Industry Trends. 4- Macro environmental variables.
  • 10. • In analytical CRM, data gathered within operational CRM and/or other sources are analyzed to segment customers or to identify potential to enhance client relationship .  Customer analysis typically can lead to targeted campaigns to increase share of customer's wallet .  Analysis of Customer data may relate to one or more of the following analyses: 1- Campaign management and analysis 2- Contact channel optimization 3- Customer Segmentation 4- Customer Satisfaction Measurement 5- Sales Coverage Optimization
  • 11.  Collaborative CRM facilitates interactions with customers through all Channels such as, Personal Letter Fax Phone. Web Email.  Supports co-ordination of employee teams and channels.  It is a solution that brings people, processes and data together so companies can better serve and retain their customers
  • 12. Collaborative CRM provides the following benefits: • Enables efficient productive customer interactions across all communications channels • Enables web collaboration to reduce customer service costs • Integrates call centers enabling multi-channel personal customer interaction • Integrates view of the customer while interaction at the transaction level
  • 13. A good CRM Program can improve customer service by facilitating communication in several ways: • Provide product information, product use information, and technical assistance on web sites that are accessible 24 hours a day, 7 days a week. • Identify how each individual customer defines quality, and then design a service strategy for each customer based on these individual requirements and expectations. • Provide a mechanism to track all points of contact between a customer and the company, and do it in an integrated way so that all sources and types of contact are included
  • 14.  Help to identify potential problems quickly, before they occur.  Provide a user-friendly mechanism for registering customer complaints  Provide a fast mechanism for handling problems and complaints   Provide a fast mechanism for correcting service deficiencies  Use internet cookies to track customer interests and personalize product offerings accordingly.  Use the Internet to engage in collaborative customization or real-time customization.  Provide a fast mechanism for managing and scheduling maintenance, repair, and on-going support .
  • 15. CRM programs also are able to improve customer relationships : • CRM technology can track customer interests, needs, and buying habits. • The technology can track customer product use as the product progresses through its life cycle. • CRM software enables sales people to achieve this one on one approach to selling and can automate some elements of it via tailor able marketing communications.
  • 16. A CRM solution is characterized by the following functionality: 1- Scalability - the ability to be used on a large scale, and to be reliably expanded to whatever scale is necessary. 2- Multiple Communication Channels: The ability to interface with users via many different devices (phone, WAP, internet, etc) 3- W ork Flow : Response, etc. The ability to trigger a process in the back office system, e. g. Email 4- Assignment: The ability to assign requests (Service Requests, Sales Opportunities) to a person or group.
  • 17. 5- Database: The centralized storage (in a data warehouse) of all information relevant to customer interaction 6- Customer Privacy: considerations, e.g. Data encryption and the destruction of records to ensure that they are not stolen or abused.
  • 18. . • It is possible for CRM software to run an entire business • The CRM system allows a business to maintain all customer records in one centralized location that is accessible to an entire organization through password administration. • Front office systems are set up to collect data from the customers for processing into the data warehouse. • The data warehouse is a back office system used to fulfill and support customer orders • Back office CRM makes it possible for a company to follow sales, orders, and cancellations • Special regressions of this data can be very beneficial for the marketing division of a firm/company
  • 19. • You are better able to serve customers needs if you understand them well. • If you give them the products they want, when they want them and provide a good and consistent service they will continue to be your customers. • CRM gives the complete and rich view of the customer, enabling tactical and strategic actions to be taken by sales, product development and marketing to meet customer needs. • CRM also enables consistent customer communication regardless of channel, location, time