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Customer Relationship Management !!! CRM
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Customer Relationship Management !!! CRM

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Customer Relationship Management !!! CRM Customer Relationship Management !!! CRM Presentation Transcript

  • Made By Prateek Bhargava May 26, 2009 Customer Relationship Management
  • Contents
    • Definition
    • Goal Of CRM
    • CRM Objectives
    • Customer Focus Issues
    • CRM Phases
    • Business Benefits of CRM systems
    • Data Need for CRM
    • Keys to successful CRM implementation
    May 26, 2009
  • Definition
    • “ An integration sales, marketing, and service strategy” .– Kalakota & Robinson
    • “ Co-ordination of all business processes to deal with customers”.
    • “ Methodologies, software and usually internet capabilities that help an organization manage customer relationships in an organized manner”.
    May 26, 2009
  • Goal of CRM
    • Provide better customer service
    • Make customer support more efficient
    • Help sales staff close deals faster
    • Simplify marketing and sales processes
    • Discover new customers
    • Increase customer revenues
    May 26, 2009
  • CRM Objectives
    • Uses existing customer relationship to grow revenue
    • Uses integrated information systems and services to better serve customer needs
    • Introduce excellent repeatable sales processes
    • Create new value system and instill loyalty
    • Pro-active strategy towards customer focus
    • Need to capture and analyze large amounts of customer data
    • Produce unique business experience for the customer
    May 26, 2009
  • Customer Focus Issues
    • Customers are long term assets :
      • Non-exploitable source of income
      • Good relationship brings better long term source of income
    • It costs around 6 times more to sell to a new customer than an existing one
    • 1 dissatisfied customer will tell other people
    • Company’s profit may be boosted by 85% by increasing annual customer retention by 5%
    • Customer centric business strategy
    • 50% chance of making a sale to existing customer, while just 15% chance to a new customer
    May 26, 2009
  • Customer Focus Issues (Cont.)
    • Creates an IT infrastructure that integrates all these processes with the rest of the company processes
    • Provide tools that enable the employees of the company to provide fast, convenient, dependable and consistent services to the customer
    May 26, 2009
  • CRM Phases May 26, 2009 CRM Customer Selection What criteria decides who will be our most profitable customers ? How can we acquire this customer in the most efficient way ? How can we keep this customer for as long as possible ? Customer Extension How can we increase loyalty & profitability of this customer ? Customer Acquisition Customer Retention
  • Business benefits of CRM systems
    • Identify & target best customers
    • Real time customization & personalization of products & services
    • Keep Track of when customer contacts
    • Increase customer retention
    • Reduce cost of customer accusation
    • Improve cross selling of products and services
    • Provide consistent customer experiance
    May 26, 2009
  • Data Needed for CRM
    • Responses
    • Shipping & fulfillment dates
    • Sales & purchase dates
    • Accounts information
    • Registration data
    • Service & support records
    • Demographic data
    • Sales data
    May 26, 2009
  • Keys to successful CRM
    • Break your CRM into manageable pieces
    • Scalable architecture framework
    • Expandable systems
    • Thoughtful collection and storage of data
    • Recognition of individuality of customers
    May 26, 2009
  • May 26, 2009 Thank You