Customer Relationship Management


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Customer Relationship Management

  1. 1. Customer Relationship Management (CRM) Presented by— Nilotpal Chakraborty SFSP, DAVV, Indore
  2. 2. CRMCRM© Nilotpal Chakraborty 2
  3. 3. Introduction Customer relationship management (CRM) is a business strategy which provides with a vision for the way an organization wants to deal with its customers. CRM is both a business strategy and a set of discrete software tools and technologies, with the goal of reducing costs, increasing revenue, identifying new opportunities and channels for expansion, and improving customer value, satisfaction, profitability, and retention. © Nilotpal Chakraborty 3
  4. 4. Customers Supplier Partners Employees Investors Individuals Business organizations Government agencies Other stakeholder © Nilotpal Chakraborty 4
  5. 5. Building blocks of CRM1) A database that collects information about the customers.2) A way to analyze the information in the database.3) A strategy for applying the analysis to better meet your clients’ needs and identify potential customers.4) Collecting data to ensure CRM strategy is effective.5) Privacy issues6) Metrics for measuring the success of the CRM program. © Nilotpal Chakraborty 5
  6. 6. Benefits of CRMEffective CRM gives you the opportunity toshow the your customers that— You know and recognize them You understand them You care about their needs, questions and concerns You want to deliver services and products they need the most You appreciate their business © Nilotpal Chakraborty 6
  7. 7. Benefits of CRM Reduced costs Increased customer satisfaction Growth in numbers of customers Maximisation of opportunities Better and more timely decisions Increased access to a source of market and competitor information Highlighting poor operational processes Long term profitability and sustainability © Nilotpal Chakraborty 7
  8. 8. …..for the organization Maximize repeat business opportunities by anticipating existing customers’ needs Identify best customers Identify potential customers Identify complementary products that can be sold to the customers Target marketing campaigns/materials and promotions © Nilotpal Chakraborty 8
  9. 9. …..for the customers Make ordering or buying easier through pre-filled order forms and e-mail reminders Tailor the shopping experience for your customers, allow self-service, and thereby reduce customer response times Develop an e-newsletter with topics that would be of interest to customers Offer free or discounted complementary products to customers Offer incentives for additional or future purchases Offer a chat room or online forum where © Nilotpal Chakraborty 9
  10. 10. Implementing CRM CRM is a business philosophy, NOT a technology. Successful CRM system implementation is critical to ensuring that the recipient organization receives the features and resources required to succeed. Staying involved ensures the organization receives the product and services expected. Develop strategy, then select technology. Identify products and target customers. © Nilotpal Chakraborty 10
  11. 11. CRM Cycle 11 © Nilotpal Chakraborty
  12. 12. Information Technology & CRM Technology plays a pivotal role in CRM. Technological approaches involving the use of databases, data mining and one-to-one marketing can assist organisations to increase customer value and their own profitability. This type of technology can be used to keep a record of customers names and contact details in addition to their history of buying products or using services. This information can be used to target customers in a personalised way and offer them services to meet their specific needs. This personalised communication provides value for the customer and increases customers loyalty to the provider. © Nilotpal Chakraborty 12
  13. 13. Information Technology & CRMSome of the CRM technologies— Cookies Loyalty cards CRM softwareWell known CRM vendors— Oracle Microsoft SAP America Inc. © Nilotpal Chakraborty 13
  14. 14. Conclusions• Organizations need to know their customers and understand their needs and interests.• Streamline interaction between the organization and its customers helps in fast and better quality services.• Helps in retaining and improving customer base. © Nilotpal Chakraborty 14
  15. 15. THANK YOU © Nilotpal Chakraborty 15