Transcript of "Customer Relationship Management (CRM)"
How It’s Work?
M Nadeem Akram
Roll No. 3003
University of Education, Lahore. (Okara Campus)
CRM is a model for managing a company’s
interactions with current and future customers. It
involves using technology to organize, automate,
and synchronize sales, marketing, customer
service, and technical support.
Customer service and support
CRM in B2B market
CHARACTERISTICS OF CRM
Well-designed CRM includes the following characteristics:
Relationship management is a customer-oriented feature with
service response based on customer input, one-to-one solutions to
customers’ requirements, direct online communications with
customer and customer service centers that help customers solve
Sales force automation. This function can implement sales
promotion analysis, automate tracking of a client’s account history
for repeated sales or future sales, and also coordinate sales,
marketing, call centers, and retail outlets in order to realize the
sales force automation.
CHARACTERISTICS OF CRM
Use of technology. This feature is about following the
technology trend and skills of value delivering using
technology to make “up-to-the-second” customer data
available. It applies data warehouse technology in order to
aggregate transaction information, to merge the information
with CRM solutions, and to provide KPI (key performance
Opportunity management. This feature helps the company to
manage unpredictable growth and demand and implement a
good forecasting model to integrate sales history with sales
HOW CRM WORK?
Essentially CRM works by collecting leads or consumer
information. Analyzing the collected information to understand
customer or market requirements. Adjusting marketing campaigns
accordingly to increase sales.
CRM also serves for customer service and support--making
businesses efficient and improve customer satisfaction.
HOW CRM WORK?
In any business, the bottom-line of CRM work flow is to
Schedule Orders and
HOW CRM WORK?
CRM is often misunderstood as an application or a tool, but in the real sense
of the term it is a way of doing business. There can be innumerable reasons
for businesses to implement CRM. However, let's take a look at few of the
most apparent benefits of using CRM.
360 degree view of business
Organizational-level data sharing
Reduce cost on customer acquisition
Centralized customer interaction
Improved customer support
Increase customer satisfaction
High rate of customer retention
Boost new business
Increase revenue at low cost
HOW CRM WORK?
Thus CRM is becoming increasingly important among
businesses. With an ever increasing customer expectation there is
a need for organizations to adopt new business services and
strategies - CRM provides this versatility in enhancing sales,
customer support and success in business.
Realizing the investment towards any CRM initiative, it is crucial
to all businesses to have a CRM evaluation method or CRM
metrics in place. The prime concern of a CRM system is to
improve relationship with customers and generate higher revenue.
Here are a few major points that can guide you in
evaluating a CRM system at its face.
Depending on the type of implementation and the strength of
organization, CRM initiative can be a complex and costly
venture. Thus your selected CRM should:
Provide tangible and measurable ROI
Help calculate the real business benefits
Enable accurate budgeting and reduced resources
Ease of Use
Implementing a CRM system should:
Simplify customer relationship and business process
Provide a user-friendly interface
Allow ease of CRM navigation
A CRM system in place, should help:
Perform the various tasks easily
Present simplified workflow logics
Encourage easy adoption by users
The real efficiency of any CRM implementation lies in:
Flexibility to change the default CRM setup
Provision to mould the CRM to your business process
Provision to rollback to the default CRM setup
The drive to maximize the value of your customer
relationship necessarily demands the CRM system to:
Provide well-defined integration architecture
Enable cross-application business process
Reduce implementation time for custom integration
No CRM system is complete without the end user help files. Besides the tips
and tricks to efficient performance, your CRM implementation should have:
Reference documentation for users
Ready on-line support
Notes and tutorials to complement documentation
Understand the CRM Concept
As mentioned above, once you are aware of the CRM system you should ask
your vendor for the obvious and see if they can explain the functionality in
simple terms, for the CRM system is full of jargons and buzzwords. If the
vendor cannot provide a convincing explanation on the functionality of their
product - do not buy it.
Define your CRM Requirement
Once the fundamental CRM concepts are understood, it is important that
the top executives and the decision makers sit down to clearly decide
upon the requirements for implementing CRM system. Compromises
are natural down the road but the exercise will surely help you avoid
being confused at the CRM marketplace.
Frame your CRM Objectives
When you consider CRM as software, it is tempting to nibble just a
piece of CRM software to solve immediate problem. However, it is
necessary that you frame your company's long-term objectives around
the CRM process than on the CRM software, as this would reduce
overall implementation costs and business complications.
Shortlist your CRM Vendors
After you have got your business objectives clear, the next step is to list down
vendors who match your requirements. Extract from vendors the real cost of
adopting their solutions and be cautious about the hidden fees.
Deal with Several CRM Players
Getting the real cost of a CRM system is tough, especially when deployment
involves third-party intervention. However, you should submit your RFP to the
few short listed vendors and wait for them to provide you a good deal. This even
helps to analyze if the vendors understand your needs and requirements.
Invite Meetings and Demos
Truly, no one understands your business better than you. Invite
vendors to prove they can satisfy your needs in your business
environment. A customized demo allows you to evaluate the CRM
system-giving a clear picture of meeting your needs.
Compare and Negotiate
There are quite many CRM comparison tools available by which
you can conduct a feature level and pricing level comparison before
concluding to a specific CRM solution.
Deploy your CRM Solution
Once you have all the information, it becomes easy to choose the
CRM vendor that meets all your CRM needs. Introduce the system
slowly so that users get comfortable with the new solution without
being forced to complete a job.
Management (CRM) at
MANAGEMENT (CRM) AT SAMSUNG
Samsung is a market leader in Consumer Electronics and Cell Phones.
For more than 70 years, Samsung has been at the forefront of
innovation. Our discoveries, inventions and breakthrough products
have helped shape the history of the digital revolution.
SAMSUNG Electronics provide unique solutions to meet
customer needs. For this, Samsung will expand marketing
programs based on CRM (Customer Relationship Management
- Customer Relationship Management) at the world level that
can be applied to all products. Samsung also will develop a
digital network by improving the compatibility between
products with the best solutions to serve our
customers. SAMSUNG Electronics place and will continue to
place our consumers' needs as the main thing driving the market
for a company who can be trusted.