Customer relationship management

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Customer relationship management

  1. 1. PresentationTopic:-CustomerRelationshipManagement.
  2. 2. o CRM introductiono Functioning targets and roleso Aspects of CRMo Architectureo Strategieso PitfallsWhat we are going to discuss?
  3. 3. WHAT IS CRM?????????...
  4. 4. The process of managing thedetailed information aboutindividual customers andcarefully managing all thecustomers ‘touch point’ with theaim of maximizing customerloyalty.
  5. 5. PeopleProcessTechnologyCRMCustomer acquisitionValueRelationshipRetentionLoyalty
  6. 6. Why CRM is required ?
  7. 7. Customer focusPrimary Concern of any businessRevenue generationSatisfaction  Delight Experience
  8. 8. Relationship buildingHigh acquisition cost Low retention costLong Term Gains
  9. 9. ManagementProduct delivery SatisfactionMeasure and manage Customer profitabilityCustomer-centric
  10. 10. Communication channelCustomerCompanyCUSTOMERINTERACTIONMobileWebCall centerFaxEmailFace to face
  11. 11. FUNCTIONING TARGETANDROLES
  12. 12. C R MFunctioningtargets
  13. 13. 1. Relationship building2. Customer service and support3. Built loyalty in customers4. Personalization5. Management and quality relatedservice.6. Customer-focused organization7. Identifying high value customersRole of CRM system
  14. 14. Still, why to spend onCustomer-retentionrather than customeracquisition ???
  15. 15. Acquisition of Customer Retention of Customer3% increase in profits 17% increase in profitsCost is very high Cost is very lowLife cycle is short Life cycle is longShort term profit Long term profitUnpredictable value chain building Value chain buildingAcquisition or Retention
  16. 16. ASPECTS OF CRM???
  17. 17. • Front office business support• Contact history is recorded• No communication gap• E.g.- call centers.
  18. 18. •Direct communication•Cost reduction•Service improvement•E.g.- mail, internet
  19. 19. •Analysis of customer data•Design and target marketing campaigns•Product and service decision making•Management decisions
  20. 20. CRM STRATEGIES???
  21. 21.  Acquisition Retention Loyalty Cost ReductionCRM strategies
  22. 22. RETENTIONImproving customer satisfactionNeed analysis1to 1 communicationUpdating
  23. 23. LOYALTYIncreaseSearchCapture
  24. 24. CostREDUCTIONLower inventorySpeedier deliveryMarketing cost reduction
  25. 25. Change ManagementPoor communicationWeak LeadershipNo strategic focus on businessvalue.Sloppiness to ‘Process and Peopleissue’.Information handlingPitfalls of CRM system???
  26. 26. CRM helps in↑ Customer life cycle↑ Customer life-time valueBy implementing a right CRMsystem, you can improve yourcustomer interaction and retain thecustomer for long, thus increasingyour market share both in terms ofcapital and customer.Concluding in the end…..
  27. 27. Any Questions??????????????????+
  28. 28. Thank You………………

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