The slides explain the concept , importance and benefits of CRM.

1. WHAT IS CUSTOMER RELATIONSHIP
MANAGEMENT?
Why is it Important?

2. “70 to 90 percent of decisions not to repeat
a purchase of anything are not about
product or price. They are about some
dimension of service.”
–Barry Gibbons, former CEO, Burger King

3. CRM
CRM or Customer Relationship Management
is a strategy for managing an organisation's
relationships and interactions with
customers and potential customers. A CRM
system helps companies stay connected to
customers, streamline processes, and
improve profitability.

4. WHY IS CRM IMPORTANT?
Forging good relationships and keeping track of
prospects and customers is crucial for customer
acquisition and retention, which is at the heart of a
CRM’s function. You can see everything in one
place — a simple, customizable dashboard that can
tell you a customer’s previous history with you, the
status of their orders, any outstanding customer
service issues, and more.

5. TYPES OF CUSTOMER RELATIONSHIP
MANAGEMENT (CRM)

6. OPERATIONAL CRM
 Operational CRM streamlines the business process
of an organization. It mainly focuses on automation
and improvement of customer facing and customer
touching business processes.
 It includes Sales automation, Marketing automation
and Service automation. Main purpose of
Operational CRM system is to generate leads,
convert them into contacts, capture all required
details and provide support throughout customer
lifecycle.

7. ANALYTICAL CRM
 Analytical CRM is based on capturing, interpreting,
segregating, storing, modifying, processing, and
reporting customer-related data.
 It also contains internal business-wide data such
as Sales Data (products, volume, and purchasing
history), Finance Data (purchase history, credit
score) and Marketing Data (response to campaign
figures, customer loyalty schemes data).
 Base CRM is an example of analytical CRM. It
provides detailed analytics and customized reports.

8. COLLABORATIVE CRM
 Collaborative CRM is an alignment of resources
and strategies between separate businesses for
identifying, acquiring, developing, retaining, and
maintaining valuable customers.
 It is employed in B2B scenario, where multiple
businesses can conduct product development,
market research, and marketing jointly.
 Collaborative CRM enables smooth communication
and transactions among businesses

9. STRATEGIC CRM
 Strategic CRM is a type of CRM in which the business
puts the customers first. It collects, segregates, and
applies information about customers and market trends
to come up with better value proposition for the customer.
 The business considers the customers’ voice important
for its survival. In contrast to Product-Centric CRM ,here
the business constantly keeps learning about the
customer requirements and adapting to them.

10. BENEFITS OF SUCCESSFUL CUSTOMER
RELATIONSHIP MANAGEMENT

11. ENHANCES CUSTOMER LOYALTY
Effective customer relationship management
enables a brand to induce customer loyalty which in
turn translates into repeat sales for the company.
The greater volume of sales also means higher
revenues and profits for the brand in addition to
growth.

12. BRINGS YOU WORD OF MOUTH REFERRALS
Customers are more likely to recommend a
particular product or service to their friends or
family if they receive high quality service
experience. Word-of-mouth promotion has proven
to be an effective avenue to create hype and
promote a trend among customers.

13. ENCOURAGES HONEST FEEDBACK FROM
CUSTOMERS
Strong relationships with clients can play a
significant role in terms of collecting insightful,
reliable and timely feedback from them. Clients are
more likely to be honest about their feedback if
relationship between the company and them is
based on mutual trust and understanding.

14. RESULTS IN CUSTOMER SATISFACTION
Companies that spend time and energy on building
and maintaining strong relationships with their
clients often experience rising customer satisfaction
levels, which is mainly because clients feel more
comfortable when they know the CSRs on a
personal level, from whom they can seek advice
and recommendations.

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