Analytical Crm

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what is CRM (Customer Relationship Management),Aspects of CRM, Analytical CRM powre tool, how Analytical CRM functions, Scope of analytical CRM,

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Analytical Crm

  1. 1. ANALYTICAL CRM Presented by APURV GOURAV Email– apurvgourav@gmail.com
  2. 2. CUSTOMER RELATIONSHIP MANAGEMENT <ul><li>Customer relationship management ( CRM ) is the practice of intelligently finding, marketing to, selling to, and servicing customers </li></ul>
  3. 3. What is CRM really trying to do? <ul><li>Tactical cultivation of customer relationships based on strategic vision and objectives </li></ul><ul><ul><li>Achieved as a company analyzes and prioritizes opportunities, then communicates with intelligence and relevance to individual customers – in preferred channels </li></ul></ul>
  4. 4. THREE ASPECTS OF CRM <ul><li>Operational - automation of customer processes that offers support to a company’s sales or service representative </li></ul><ul><li>Collaborative - the program communicates to customers without a company’s sales or service representative ( self service ) </li></ul><ul><li>Analytical - analysis of customer information for multiple purposes </li></ul>
  5. 5. Analytical CRM <ul><li>Analytical CRM includes a sound analytical infrastructure that help to gather all the relevant information about the customers and organize it consistently. </li></ul><ul><li>It help in achieving a 360-degree view of customers, through which company can maintain and build truly interactive, mutually beneficial, and profitable relationships. </li></ul>
  6. 6. <ul><li>It helps the company to identify the new trends in the market. </li></ul><ul><li>It help in gaining further insights into customer needs and preferences. </li></ul>
  7. 8. Analytical CRM analyzes customer data for a variety of purposes: <ul><li>Design and execution of targeted marketing campaigns to optimize marketing effectiveness </li></ul><ul><li>Design and execution of specific customer campaigns, including customer acquisition, </li></ul><ul><li>cross-selling , up-selling , retention .. </li></ul>
  8. 9. <ul><li>Management decisions, e.g. financial forecasting and customer profitability analysis. </li></ul><ul><li>Prediction of the probability of customer defection (churn analysis) . </li></ul><ul><li>Analytical CRM generally makes heavy use of data mining . </li></ul>
  9. 10. Analytical CRM ‘Power Tools’ Capabilities that Companies Must Have <ul><li>Broad range of actionable analysis and predictive modeling capabilities </li></ul><ul><li>Holistic view of customer interactions to understand the whole customer </li></ul><ul><li>Means to understand and automate the event rules that drive the business and communicate with individual customers </li></ul>
  10. 11. Manage the Total Communications Environment with Analytical CRM Direct Mail E-Mail/ Fax ATM/Kiosk Call Center Agent Store /Branch Analytical CRM
  11. 12. THE VALUE ANALYTICAL CRM ADDS TO BUSINESS DESIGN <ul><li>Acquire new profitable customers by cloning best customers. </li></ul><ul><li>Improve relationships with existing customers by addressing their individual needs </li></ul>
  12. 13. Cont.. <ul><li>Optimize cross-selling and up-selling opportunities </li></ul><ul><li>Improve customer loyalty and reduce customers' propensity to churn </li></ul>
  13. 14. How Analytical CRM Functions <ul><li>Analysis </li></ul><ul><li>Analyze customer profiles & behavior </li></ul><ul><li>Target customers </li></ul><ul><li>Evaluate response </li></ul><ul><li>Event Analysis </li></ul><ul><li>Communication </li></ul><ul><li>Plan continuous communication dialogues </li></ul><ul><li>Define batch and real-time event rules and trigger </li></ul><ul><li>Optimization </li></ul><ul><li>Prioritize and limit communications by channel </li></ul><ul><li>Regulate frequency and quantity of contacts by channel </li></ul><ul><li>Optimize customer communications through contact modeling </li></ul><ul><li>Personalization </li></ul><ul><li>Generate personalized offers by customer </li></ul><ul><li>Build personalization Rules </li></ul><ul><li>Modeling </li></ul><ul><li>Build and analyze predictive models </li></ul><ul><li>Score customers </li></ul><ul><li>Interaction </li></ul><ul><li>Deploy outbound or manage pending inbound/event-driven communications </li></ul><ul><li>Manage workflow of interactions </li></ul><ul><li>Personalization Merge </li></ul><ul><li>Real-time personalization </li></ul>Data Warehouse Industry LDM ALL CUSTOMER INTERACTION DATA
  14. 15. Scope of Analytical CRM <ul><li>Customer behavior modeling </li></ul><ul><li>Customer value assessment </li></ul><ul><li>Customer profitability </li></ul><ul><li>Customer lifetime value </li></ul>
  15. 16. Cont…. <ul><li>Customer profiling and scoring </li></ul><ul><li>Customer portfolio optimization </li></ul><ul><li>customer interaction. </li></ul>
  16. 17. Achieve Positive Business Results … Over Time <ul><li>CRM is an ongoing, scientific process … </li></ul><ul><li>…not an isolated campaign </li></ul><ul><li>or marketing plan </li></ul>
  17. 18. CRM Process Must Balance Quality of Customer Experiences Achieve Positive Business Results
  18. 19. <ul><li>THANK YOU </li></ul>

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