Customer delight is the only key to success andto the very existence of the company.the choices open to the customers today are somuch. Here information is the key to success.The only entity seen by the company is itscustomer.This requires a better understanding of thecustomers and what they expect form theorganization.It needs to be understood that not all customercontribute equally to profits.
Evolving to eCRM:How do we optimize interactive relationships withcustomers? The eCRM, .i.e.CRM online implies and additional means of communication and level of interaction with the customer which allows for ease of self-service to the customer. It gives time o customer also to think and plan of explaining his needs. In interpersonal contact, sometimes the customer is unable to explain his real need and real requirements.
How does a company go about building aneCRM solution? It must: Define its business objectives – Assess its current “sophistication” along the eCRM continuum in terms of process and technology. Define business processes and changes needed to support its goal.
Specific Service Areas of Assistance might include: Business and Marketing Process Consulting Technical Consulting for database-design optimization including the extraction, transformation, cleansing, and loading of data into a warehouse. eCRM application and implementation, integration and project management Hosted services through Application Service Providing eMarketing strategy consulting
CRM and eCRM: The Differences:Being able to take care of your customer via Internet orcustomers being able to take care of themselves online, that’sthe difference between CRM and eCRM.The philosophical, methodological, systematic processfunctional differences between CRM and eCRM they areminimal.But the engineering and architecture for their execution is verydifferent because the communication media is different. Why the move to online CRM?The world population is increasing.
WHAT IS ECRMeCRM provides to companies a means to conductinteractive, personalized and relevant communicationwith customers across both electronic and traditionalchannels.It synchronizes communication across joinedcustomer-facing systems.It adheres to permission-based practices, respectingeach individual’s preferences regarding how andwhether they wish to communicate with you.
Web Experience: In Interpersonal we are physically face to face with each other. Then we have letters, faxes and emails and telephones and SMS and then we have web sites to interact. It is a complex set of relationships between the Web suffer and the person(s) at the other end of the internet line. It is a social interaction done in isolation that creates as many problems as it solves. eCRM is the customer –facing Internet portion of CRM. It includes capabilities like self-service knowledge bases, automated e-mail response, personalization of Web content, online product bundling and pricing and so on.
Web browser: This model preserves the fundamental value of the internet as a communication medium, and pervades a common platform for independent access to data anytime and anywhereModules in CRM: The CRM applications are a convergence of functional components, advanced technologies, and channels. Functional components include sales applications marketing automation, and customer service and support application
Sales Applications: Calendar and Scheduling Contact and Account Management Compensation Opportunity and Pipeline Management Sales Forecasting Proposal Generation and Management Pricing Territory Assignment and Management Expense Reporting
Marketing Applications: Web-based/traditional marketing campaign planning, execution and analysis Collateral generation and marketing materials management List generation and management Budgeting and forecasting A marketing encyclopedia (a repository of product, pricing and competitive information) Lead tracking, distribution and management Marketing Applications primarily aim is to empower marketing professionals.
Customer service and Support Applications: These applications have gained a major importance for effective customer retention and in many cases profitability depends on providing superior service (call centre, web, etc.)Common application includes: Customer care. Incident, defect, and order tracing Field service Problem and solution database Repair scheduling and dispatching Service agreements and contracts Service request management
CRM applications and objectivesCRM suits and Objectives – each suit mayhave different objectives.Increased Revenue – Sales force should be encouraged to focus on increasing company’s revenue through better information and better incentives. Put their selling efforts to focus on high-value deals and meet revenue targets.
Improve Global Forecast and PipelineManagement.
Customer investment allocation There is no central mechanism to determine which customers should receive which investment at a relationship level Focus should be on database On delivery Target cross sell and up sell
Key eCRM features1. It must focus on process – helps in refining the business process2. Must be driven by data warehouse - 1. provides broadest possible profile of the customer 2. Used to determine the action, offer to make, & best channel to deliver3. multichannel view of customer behaviour- 1. Organizations interact with customers in different ways. E.g. bank
I app. To support website 1 to call centre 1 to email 1 to sales 1 to ATM 1 to direct mail or telemarketing Companies should manage all the channels The application must be able to capture and synchronize data from all the touch points Data should be stored in data warehouse4. Measurement driven – Companies spend on communication, but very little on measuring the effectiveness eCRM does the work of measurement
eCRM drivers and challengesEmergence of webCost effectiveness of internetDe-regulation, forcing companies to developacquisition and retention strategiesThe corporate realizes that consumers nolonger tolerate mass mailings or e-messaging
CRM architectureAnalysis / Profiling – data mining, statisticalanalysisCampaign planning and managementCustomer interactionMethodBest practices in phased implementation
Internet, Intranet & Extranet Extranet Vendors/SuppliersIntranet Distributors,Managemen BankerstEmployees ConsultantsProduction CentresOther departments Internet Customers Competitors General Public
The 3 ways of achieving eCRM People Processes Technology
A suggested eCRM transition Mass DatabaseMarketing MarketingProfit based Customer specific Marketing Real time Marketing
Measurement based framework CollectCustomer Data Analyze Customer Data Formulate Information Based Hypothesis Collect Data on Performance of Hypothesis
1 Customer 5 People What skills,training, roles, authority, Who are/should be your customers & what & incentives are needed to do these jobs? Include in-house and outsource jobs, with are their requirements and preferences for e-biz/ marketing, content/ design & tech. your organization in products and services? who need 6 Intelligence drives What intelligence (research, reports, information) is needed to allow people2 Strategy to analyze the results, predict the out- What are the e-business policies and come or decide a course of action? differentiating set of activities that your supported by is comprised of organization needs to deliver a unique mix of 7 Automation value to customers? What customer needs What steps of these processes can be should/ not you meet? completed faster, better, or cheaper drives by using computers or equipment?3 supported by Process 8 What is the series of action steps, tasks & Data What numbers, characters, images or business rules that is required to complete other recorded information is needed to the desired e-biz strategies and polices? provide intelligence to make decisions? supported by dictates 9 Technology4 What hardware/ software is needed to Organizational Structure to best capture, store, process, & distri- bute data & automate the processes? What is the most logical grouping of jobs & individuals needed to support the business processes effectively?
Significant integration will be required to become customer- centric. However, the resulting institutional base of knowledge will provide exponential returns. Customer(s) Channel Management Direct Channels Indirect Channels Customer Internet Service Retail Mail Sales Distributors IntermediariesDEMAND Sales Customer Relationship Management Product Channel MarCom Management Management Management Strategic Development Market Intelligence & Planning Information Management & Research Customer dBaseSUPPLY Operations dBase Human Finance Manufacturing Distribution Resources
CRM project – the three legs Operational CRM Analytical CRMOffice Supply ChainBack (EAI Toolkits, Embedded/Mobile Agents ERP/ERM Legacy Mgmt. Data Systems Warehouse Order Manag. Order Prom. Closed-Loop ProcessingOfficeFront Service Marketing Sales Customer Automation Automation Automation Customers Products ActivityMobileOffice Marketing Field Vertical Apps. Mobile Sales Automation Service Category Mgmt. Campaign Mgmt.Interaction Customer Conferencing E-mail Voice Fax Direct (IVR, ACD) Web Response Letter Interaction Conferencing Management Collaborative CRM