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Customer Relationship
Management (CRM)
Strategy for managing a company's
interactions with customers, clients
and sales pr...
What is CRM?
CRM is a collective term for processes and strategies
regarding individualized relationships between
enterpri...
BackOffic
eCustomer
Information
Analytics
Marketing
Web
Call
Center
Field
Partner
Customer
s
Email
What is CRM?
The Four Aspects of CRM
1. Active CRM: A centralized database for storing data, which can
be used to automate business pro...
Active CRM
Centralized Data Store
Ordering Information Customer details, and Business
Prospects all stored in a single sys...
Active CRM
Advantages
Improved Customer Relationships
Automated Business Tasks and Processes.
Targeted Marketing Campaigns.
Operational CRM
 Operational CRM generally refers to the products,
services and operational capabilities that enable
an o...
Operational CRM
 Customer care is essential to every company
 Tens of millions of dollars have been invested,
yet manage...
Goal of Operational CRM
• Should be to ‘integrate people, processes and
technology using the customer’s
perspective and ex...
Benefits of Operational CRM
• Drive revenue growth
• Reduce costs
• Solve problems quicker
• Gain a 360-degree view of you...
Collaborative CRM
Emphasis on direct Interaction with customers
Internet
Email
Automated phone/ Interactive voice response...
Collaborative CRM
• IT department helps design customer interaction methods
– IT staff carefully designs web pages and ema...
Collaborative CRM
Includes Partner Relationship Management
Managing relationships with partners (resellers and
distributor...
Analytical CRM
Analytical CRM aids the preparation, support, and
optimization of customer oriented decision processes
Goal...
Analytical CRM Benefits
Employees can quickly assign, manage and resolve
incidents with automated routing, queuing and ser...
Analytical CRM Benefits
Access to a centralized, customizable view of sales and
support activity along with complete custo...
Goal of CRM
Gain insight into the behavior of the customers and the
value of those customers
Provide better customer servi...
Need for CRM
No accurate information on who your customers are
and what their needs or desires are or will be at any
given...
Start with Strategy
• Must be practical, simple and easy to
articulate
• Must be shared by all levels of the
organization
...
Start with Strategy
• “A CRM initiative should help an
organization generate more leads, convert a
high proportion of them...
CRM Strategies
Customer Acquisition
Gain the greatest number of new “Best” customers as
early in their “lifespan” as possi...
CRM Strategies
Cost Reduction
Reduce costs related to marketing, sales, customer
service and support
Customer Evangelism
E...
What data do you have on your customers’
?
Problems, Pains, Fears, Needs, Wants, Likes, Goals,
Influences, Relationships, ...
CRM People
Customer Segments:
Suspects, Visitors, Prospects, Subscribers , Patrons, Members,
Users, Consumers, VIP’s, Volu...
CRM Technology Requirements
Integration with other company applications
Focus on the end user’s needs
Support cross compan...
CRM Processes / Mapping
Re-examine all of your customer management
business processes
Redefine where CRM provides the grea...
How CRM helps Business?
Personalized customer contact
Customer specific product catalog and catalog views
Customer specifi...
CRM Architecture
Enterprise Marketing Automation
Enterprise Marketing Automation
(EMA
(EMA))
SalesForceAutomation
SalesFor...
CRM and IT
Biggest returns come from aligning business, CRM
and IT strategies should run across all departments
not just r...
Monitor C
R
M
E
N
G
I
N
Operation
Analyze
Customer Interaction
Letter, Fax, Email, SMS, Phone, Personal Contact, EDI, web,...
CRM Implementation
Planning
Development
Deployment
Post Deployment
Implementation Plan
Creating the implementation strategy
Identifying the implementation team
Creating a schedule
Analyzing...
Development
Setting up hardware and installing software
Installing CRM in a limited use and test environment
Testing CRM
I...
Post Development
Organization must develop processes and tools that will add
long-term customer value
Initial deployment p...
Common Reasons for Failure
– Implementation costs
– Political Friction
– Initiatives driven by technology
– Tendency to pu...
…more Reasons for Failure
Lack of communication between everyone in the customer
relationship chain
Technology being imple...
Ways to avoid failure
– Don’t fall victim to anything mentioned in the
previous slide
– Establish visible top-down support...
Successful CRM Implementation
Choose your vendor successfully
Develop customer focused strategy before considering
the tec...
Ways to Ensure Optimal Benefits
• Create a customer focused business
strategy
• Have a CRM-friendly organizational
structu...
Thank You!
Please visit:
www.TheCorporateTrainer.ca
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Customer Relationship Management (Crm) By Ravinder Tulsiani

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Strategy for managing a company\'s interactions with customers, clients and sales prospects

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  • Answering the question is not so easy.
    Contact centers, data aggregation systems and Web sites are just a few examples.
  • Customer service excellence is an important differentiator for many companies, especially in financial services. Everyone wants to be the best, so the idea of CRM make a lot of good sense.
    Taking good care of customers is turning out to be more complicated and more expensive.
  • Basically needs to deliver customer-centric business processes and operations.
    Provides the primary customer touch points, and allows an organization to create standard customer profiles, understand buying needs and get first-hand feedback from an organization’s most valuable asset—its customers
  • Basically needs to deliver customer-centric business processes and operations.
  • Example: If your business strategy calls for a strong Internet presence, then your customer service strategy must provide for comprehensive customer service via the Web.
    Implementing a successful CRM is a lot like implementing an ERP
  • Implementation costs – Time and commitment are often underestimated
    Political Friction – Among sharing customer information
    Initiatives driven by technology – Normally, this is what one would think the business would want, but customer strategy and service process design are more important. Technology may be a driver, but it can’t be the only thing that is looked at.
    Poorly Implemented - badly co-ordinated operational CRM initiative will capture incorrect data, paint an untrue picture of the buyer’s needs, and provide insufficient service and response levels. For instance, improper co-ordination between the personal finance division and the operational CRM unit of your bank will result in your receiving calls and mails asking you to take a personal loan even if you already have one.
  • Communicate strategy and buy-in – Make them owners of the initiative and reward them when it succeeds.
  • Create a customer-focused business strategy: An organization should have business strategies that promote CRM across functional boundaries. The lack of a single customer view across business functions makes it difficult for the organization to move far from the traditional product focus.
    Have a CRM-friendly organizational structure: Organizational structure in customer-focused organizations needs to promote cross-functional co-operation. Independent business units, disparate marketing and sales organizations, and diverse customer care centers can inhibit the ability to determine and perform next promotion or service activity for the customer.
    Build a customer information environment: Customer information is the keystone to a successful CRM strategy. It’s important for the operational CRM to be alert and capture information at the beginning. This information must provide a single customer view and must be the same across the organisation to facilitate both operational and analytical uses.
  • Create a customer-focused business strategy: An organization should have business strategies that promote CRM across functional boundaries. The lack of a single customer view across business functions makes it difficult for the organization to move far from the traditional product focus.
    Have a CRM-friendly organizational structure: Organizational structure in customer-focused organizations needs to promote cross-functional co-operation. Independent business units, disparate marketing and sales organizations, and diverse customer care centers can inhibit the ability to determine and perform next promotion or service activity for the customer.
    Build a customer information environment: Customer information is the keystone to a successful CRM strategy. It’s important for the operational CRM to be alert and capture information at the beginning. This information must provide a single customer view and must be the same across the organisation to facilitate both operational and analytical uses.
  • Transcript of "Customer Relationship Management (Crm) By Ravinder Tulsiani"

    1. 1. Customer Relationship Management (CRM) Strategy for managing a company's interactions with customers, clients and sales prospects
    2. 2. What is CRM? CRM is a collective term for processes and strategies regarding individualized relationships between enterprises and customers, prospects, and business partners for marketing, sales and service with the goal of winning new customers, extending existing customer relationships across the entire customer life cycle, and improving competitiveness and business success by optimizing the profitability of individualized customer relationships. CRM is the integration of sales, marketing, service and support strategy, process, people and technology to maximize customer acquisition, value, relationships, retention and loyalty.
    3. 3. BackOffic eCustomer Information Analytics Marketing Web Call Center Field Partner Customer s Email What is CRM?
    4. 4. The Four Aspects of CRM 1. Active CRM: A centralized database for storing data, which can be used to automate business processes and common tasks. 2. Operational CRM: The automation or support of customer processes involving sales or service representatives 3. Collaborative CRM: Direct communication with customers not involving sales or service representatives (‘self service’) 4. Analytical CRM: The analysis of customer data for a broad range of purposes Source: Wikipedia
    5. 5. Active CRM Centralized Data Store Ordering Information Customer details, and Business Prospects all stored in a single system. IT department helps in creating new user accounts and maintaining the data store. Single centralized data store helps to organize data efficiently Segment Manage Track Analyze
    6. 6. Active CRM Advantages Improved Customer Relationships Automated Business Tasks and Processes. Targeted Marketing Campaigns.
    7. 7. Operational CRM  Operational CRM generally refers to the products, services and operational capabilities that enable an organization to ‘take care of its customers’
    8. 8. Operational CRM  Customer care is essential to every company  Tens of millions of dollars have been invested, yet management still cannot say what, if any, business benefits have resulted from CRM initiatives  Many can’t even say why they decided to implement a CRM strategy
    9. 9. Goal of Operational CRM • Should be to ‘integrate people, processes and technology using the customer’s perspective and expectations as the key driver.’ • Generally cuts across many organizational boundaries, making it high profile
    10. 10. Benefits of Operational CRM • Drive revenue growth • Reduce costs • Solve problems quicker • Gain a 360-degree view of your customer while you are interacting with them
    11. 11. Collaborative CRM Emphasis on direct Interaction with customers Internet Email Automated phone/ Interactive voice response Automated “self-service” type of relationship Customer interactions are mostly “automated”. Information can be directly captured by a CRM system without “special formatting” by a middle layer.
    12. 12. Collaborative CRM • IT department helps design customer interaction methods – IT staff carefully designs web pages and email formats, so data can be directly entered into the system without reformatting. – IT staff continuously scans for newer and better ways to automate customer interaction and data capture.
    13. 13. Collaborative CRM Includes Partner Relationship Management Managing relationships with partners (resellers and distributors) Objectives Cost reduction by using automated systems. Service improvements through efficient consumer response. Better understanding of customer needs with various departments pooling data from different sales and communication channels.
    14. 14. Analytical CRM Analytical CRM aids the preparation, support, and optimization of customer oriented decision processes Goals of Analytical CRM: Analysis of customer behavior to aid product and service decision making (pricing, new product development) Management decisions (Financial forecasting, Customer profitability analysis) Design and execution of specific customer campaigns including customer acquisition, up-selling, cross-selling, retention Design and execution of targeted marketing campaigns to optimize marketing effectiveness
    15. 15. Analytical CRM Benefits Employees can quickly assign, manage and resolve incidents with automated routing, queuing and service request escalation Reports help identify common support issues, evaluate customer needs, track processes and measure service performance Employees can easily share sales and order information as well as support information and use it to identify top customers and prioritize service needs
    16. 16. Analytical CRM Benefits Access to a centralized, customizable view of sales and support activity along with complete customer history either online or offline and from any location using a Web browser Shorter sales cycles and improved close rates with tools that enable lead and opportunity management, workflow rules customization for automated sales processes, quote creation and order management Comprehensive reports that forecast sales, measure business activity and performance, track sales and service success, as well as identify trends, problems and opportunities.
    17. 17. Goal of CRM Gain insight into the behavior of the customers and the value of those customers Provide better customer service Increase business revenues Discover new customers Simplify marketing and sales processes Helps sales staff close deals faster Make call centers more efficient Company can get continuous feedback Cross selling products more effectively
    18. 18. Need for CRM No accurate information on who your customers are and what their needs or desires are or will be at any given stage in their lives Losing customers to a competitor, lack of understanding of your customers Customers have different characteristics Having multiple offices and/or mobile workers and need to share and manage customer information from all sources
    19. 19. Start with Strategy • Must be practical, simple and easy to articulate • Must be shared by all levels of the organization • Should be measurable
    20. 20. Start with Strategy • “A CRM initiative should help an organization generate more leads, convert a high proportion of them to customers, retain customers longer through enhanced service and ensure more profitability from the customers through the effective promotion of additional products and services.”
    21. 21. CRM Strategies Customer Acquisition Gain the greatest number of new “Best” customers as early in their “lifespan” as possible Customer Retention Retain and expand your business and relationships with your customers through up-selling, cross-selling and servicing Customer Loyalty Offer programs to ensure that your customers happily buy what you offer only from you
    22. 22. CRM Strategies Cost Reduction Reduce costs related to marketing, sales, customer service and support Customer Evangelism Enable loyal customers to become a volunteer sales force Improve productivity Enhance your e-business strategies
    23. 23. What data do you have on your customers’ ? Problems, Pains, Fears, Needs, Wants, Likes, Goals, Influences, Relationships, Affiliations, Alliances, Experiences, Aspirations, Options, Expectations, Questions, Knowledge, Skills, Activities, Attention, Communications, Interactions, Emotions, Memories, Satisfaction, Perceptions, Beliefs, Admirations, Attitudes, Opinions, Values, Learning, Ideas, Motivations, Objections, Priorities, Choices, Behaviors, Personality, Self-Concepts, Trust, Loyalty, Attention, Recognition, Time, Energy, Risks, Investments, Rewards, ROI, Lifestyle, Lifecycle Stage, Social Class, Culture, Sub-culture, Age, Family, Education, Hobbies, Interests…?
    24. 24. CRM People Customer Segments: Suspects, Visitors, Prospects, Subscribers , Patrons, Members, Users, Consumers, VIP’s, Volunteers, Annual/ Major Donors, Advisors, Advocates, Legislators, Strategic Partners, Sponsors Users: Management, Employees and Visitors Suppliers: Services- Consultants (CRM/ Customer Development) Products- Technology ( Software, Hardware, Connectivity)
    25. 25. CRM Technology Requirements Integration with other company applications Focus on the end user’s needs Support cross company collaboration Alignment with the specific requirements of individual industries
    26. 26. CRM Processes / Mapping Re-examine all of your customer management business processes Redefine where CRM provides the greatest value to your “best” customers and your organization Incrementally implement CRM to improve top targeted processes like Subscription Renewal Processes
    27. 27. How CRM helps Business? Personalized customer contact Customer specific product catalog and catalog views Customer specific prices and conditions Customer specific product configuration Customer specific product recommendations Customer specific user interfaces in e-selling solutions
    28. 28. CRM Architecture Enterprise Marketing Automation Enterprise Marketing Automation (EMA (EMA)) SalesForceAutomation SalesForceAutomation (SFA) (SFA) CustomerServiceAndSupport CustomerServiceAndSupport (CSS) (CSS)  Business Environment Information  Competitors, Trends  Macro Environment Variables  Business Intelligence  Lead/ Account Management  Contact Management  Quote Management  Forecasting  Sales Administration  Customer Preference  Performance Management  Service Requests  Complaints  Product Returns  Information Request  Customer Interaction Center  Computer Telephony Integration
    29. 29. CRM and IT Biggest returns come from aligning business, CRM and IT strategies should run across all departments not just run on one group Business departments who use the software take ownership of the project, with IT and CIO playing an important advisory role.
    30. 30. Monitor C R M E N G I N Operation Analyze Customer Interaction Letter, Fax, Email, SMS, Phone, Personal Contact, EDI, web, XML CRM DB IT A P P L I C A T I O N Call Center Help Desk SFA ERP CRM and IT
    31. 31. CRM Implementation Planning Development Deployment Post Deployment
    32. 32. Implementation Plan Creating the implementation strategy Identifying the implementation team Creating a schedule Analyzing your business processes Identifying hardware and software requirements in addition to current organizational resources and how any new resources are to be integrated into existing systems Determining customization needs and data import requirements Identifying reporting requirements Identifying training and ongoing support requirements
    33. 33. Development Setting up hardware and installing software Installing CRM in a limited use and test environment Testing CRM Importing or migrating data Customizing the application and the reporting features Integrating CRM into existing systems Identify a group of users who can use and evaluate the product installation Perform the common activities Address difficulties during training
    34. 34. Post Development Organization must develop processes and tools that will add long-term customer value Initial deployment period will affect productivity in the beginning Customer relationships are owned by the organization, not the individual Users must see CRM as a tool to help them
    35. 35. Common Reasons for Failure – Implementation costs – Political Friction – Initiatives driven by technology – Tendency to push ‘work’ to the customer – No measures for success or accountability – Poorly Implemented
    36. 36. …more Reasons for Failure Lack of communication between everyone in the customer relationship chain Technology being implemented without proper support Lack of training to the staff
    37. 37. Ways to avoid failure – Don’t fall victim to anything mentioned in the previous slide – Establish visible top-down support from the most senior levels – Communicate strategy and buy-in
    38. 38. Successful CRM Implementation Choose your vendor successfully Develop customer focused strategy before considering the technology Break the project into manageable pieces Make sure the CRM plans include a scalable architecture framework Don’t underestimate the amount of data you might collect for easy expansion of systems in the future Be thoughtful about what data is collected and stored Spend time creating the best business processes
    39. 39. Ways to Ensure Optimal Benefits • Create a customer focused business strategy • Have a CRM-friendly organizational structure • Build a customer information environment
    40. 40. Thank You! Please visit: www.TheCorporateTrainer.ca

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