CUSTOMER RELATIONSHIP MANAGEMENT ( CRM) Presentation by GOBIND AHOOJA E.MBA (2 nd  Semester) ILMS, GURGAON
Situation: There is a sudden departure of important customer facing key account executives <ul><li>Result:  </li></ul><ul>...
CONSUMER BEHAVIOUR <ul><li>Changed dramatically last decade </li></ul><ul><li>the abundance of choice </li></ul><ul><li>av...
Consumer-  Personal  & Organizational <ul><li>Marketing Concept- STP- 4 Ps </li></ul><ul><li>Customer Value, Satisfaction ...
Relationship Marketing <ul><li>AIM: fostering ongoing communications </li></ul><ul><li>furnishing loyalty by building in e...
Individuals grow bigger than the organization   <ul><li>Initial Phase- Harmless </li></ul><ul><li>Secondary Phase- Mutuall...
Strategies to retain key customers   <ul><li>Rotating employees </li></ul><ul><li>Let teams handle key accounts & not indi...
And by adopting intelligent customer relationship management   <ul><li>Benefits  of  CRM : </li></ul><ul><li>Streamlined s...
Effective CRM <ul><li>Define business problem </li></ul><ul><li>Build marketing database- Data Mining </li></ul><ul><li>Ex...
Conclusion <ul><li>Customer relationship management is essential to compete effectively in today’s market place. The more ...
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Crm

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Crm

  1. 1. CUSTOMER RELATIONSHIP MANAGEMENT ( CRM) Presentation by GOBIND AHOOJA E.MBA (2 nd Semester) ILMS, GURGAON
  2. 2. Situation: There is a sudden departure of important customer facing key account executives <ul><li>Result: </li></ul><ul><li>1. It leads to loss of key customers OR </li></ul><ul><li>2. It does not affect the Company </li></ul>
  3. 3. CONSUMER BEHAVIOUR <ul><li>Changed dramatically last decade </li></ul><ul><li>the abundance of choice </li></ul><ul><li>availability of information </li></ul><ul><li>entitlement ( customers asking what have you done for me lately) </li></ul><ul><li>commoditization of goods & services </li></ul><ul><li>insecurity (consumer financial problems reduce loyalty) </li></ul><ul><li>time scarcity </li></ul>
  4. 4. Consumer- Personal & Organizational <ul><li>Marketing Concept- STP- 4 Ps </li></ul><ul><li>Customer Value, Satisfaction & Retention </li></ul><ul><li>Loyalty </li></ul><ul><li>Loyalists, Apostles, Defectors, Terrorists, Mercenaries, Hostages </li></ul><ul><li>Consumer Decision Making View - Economic, Passive, Cognitive, Emotional </li></ul><ul><li>Relationship (Loyalty) Programmes </li></ul>
  5. 5. Relationship Marketing <ul><li>AIM: fostering ongoing communications </li></ul><ul><li>furnishing loyalty by building in extras like upgrades </li></ul><ul><li>stimulating sense of belonging by providing an exclusive club membership </li></ul><ul><li>Relationships between organizations evolve at three different levels: economic, social & structural </li></ul>
  6. 6. Individuals grow bigger than the organization <ul><li>Initial Phase- Harmless </li></ul><ul><li>Secondary Phase- Mutually serving, ego satisfaction </li></ul><ul><li>Final Phase- Crisis of confidence & severe loss to both </li></ul><ul><li>Departure of key account executives impacts existing customer relationships </li></ul><ul><li>What are alternatives available to Cos.? </li></ul>
  7. 7. Strategies to retain key customers <ul><li>Rotating employees </li></ul><ul><li>Let teams handle key accounts & not individuals </li></ul><ul><li>Organize informal get-togethers with key customers </li></ul><ul><li>Exchange of visits by vendors & customers </li></ul><ul><li>Provide good assistants to customer contact executives </li></ul><ul><li>Supervisors & Managers also to touch base with customers more frequently </li></ul><ul><li>Maintain a database of customers </li></ul><ul><li>Let the separation be a planned one </li></ul><ul><li>Take customers into confidence </li></ul><ul><li>Let the parting be a smooth affair </li></ul>
  8. 8. And by adopting intelligent customer relationship management <ul><li>Benefits of CRM : </li></ul><ul><li>Streamlined sales & marketing processes </li></ul><ul><li>Higher sales productivity </li></ul><ul><li>Added cross selling & up-selling opportunities </li></ul><ul><li>Improved service, loyalty and retention </li></ul><ul><li>Increased call centre efficiency </li></ul><ul><li>Higher close rates </li></ul><ul><li>Better profiling & targeting </li></ul><ul><li>Reduced expenses </li></ul><ul><li>Increased market share </li></ul><ul><li>Higher overall profitability </li></ul><ul><li>Marginal costing </li></ul>
  9. 9. Effective CRM <ul><li>Define business problem </li></ul><ul><li>Build marketing database- Data Mining </li></ul><ul><li>Explore data </li></ul><ul><li>Prepare data for modeling </li></ul><ul><li>Build model </li></ul><ul><li>Evaluate model </li></ul><ul><li>Deploy model & results </li></ul>
  10. 10. Conclusion <ul><li>Customer relationship management is essential to compete effectively in today’s market place. The more effectively you can use the information about your customers to meet their needs the more profitable you will be. Companies should treat a customer relationship management solution as a product or service and its users as internal customers- by making it valuable, pricing appropriately, advertising and providing after-sales support. The route to a successful business requires that you understand your customers and their requirements and data mining is the essential guide. </li></ul>
  11. 11. Thank You.
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