Electronic Customer Relationship Management (E-CRM)
E-CRM This concept is derived from E-commerce. It also uses net
environment i.e., intranet, extranet and internet
Definition of E-CRM: Electronic CRM concerns all forms of managing
relationships with customers making use of Information Technology (IT).
E-CRM (Electronic Customer Relationship Management) expands the
traditional CRM techniques by integrating new electronic channels, such
as Web, wireless, and voice technologies and combines it with e-business
applications into the overall enterprise CRM strategy.
The goal is to drive consistency within all channels relative to sales,
customer service and marketing initiatives to achieve a flawless customer
experience and maximize customer satisfaction, customer loyalty and
revenue.
2. From RM to CRM
The concept of relationship marketing was first coined by
Leonard Berry in 1983. He considered it to consist of attracting,
maintaining and enhancing customer relationships within
organizations. In the years that followed, companies were
engaging more and more in a meaningful dialogue with
individual customers. In doing so, new organizational forms as
well as technologies were used, eventually resulting in what we
know as Customer Relationship Management (CRM).
The main difference between RM and CRM is that the first
does not acknowledge the use of technology, where the latter
uses Information Technology (IT) in implementing RM
strategies.
3. Customer Relationship
Management (CRM)
CRM is a strategy by which companies optimise
profitability through enhanced customer satisfaction.
CRM is about automating and enhancing the
customer-centric business processes of Sales,
Marketing, and Service.
CRM not only deals with automating these
processes, but also focuses on ensuring that the
front-office applications improve customer
satisfaction, resulting in added customer loyalty that
directly affects the organization’s bottom line.
4. Electronic Customer
Relationship Management (E-
CRM)
E-CRM This concept is derived from E-commerce. It also
uses net environment i.e., intranet, extranet and internet
Definition of E-CRM: Electronic CRM concerns all
forms of managing relationships with customers making
use of Information Technology (IT).
The goal is to drive consistency within all channels
relative to sales, customer service and marketing
initiatives to achieve a flawless customer
experience and maximize customer satisfaction,
customer loyalty and revenue.
5. Electronic Customer
Relationship Management (E-
CRM)
E-CRM (Electronic Customer Relationship Management)
expands the traditional CRM techniques by integrating
new electronic channels, such as Web, wireless, and
voice technologies and combines it with e-business
applications into the overall enterprise CRM strategy.
Therefore ,it is just an expanded, integrated version of
CRM . Thus, Old CRM + Internet = e-CRM
6. Differences between CRM and E-CRM
1.Customer contacts
2.System interface
3.client computers
4.Customization and personalization of information
5.System focus
6.System maintenance and modification
7.
8. Why E-CRM?
Gather and combine customer information into a unified
picture
Response faster and accurately
Build customer loyalty
Due to the introduction of new technology
Due to globalization
Changing customer attitudes and expectations
To gain competitive advantage
To measure, create and increase income for the business
To reduce costs
9. Different levels of E-CRM
Foundational services:
This includes the minimum necessary services such as web
site effectiveness and responsiveness as well as order
fulfillment.
Customer-centered services:
These services include order tracking, product configuration
and customization as well as security/trust.
10. Different levels of E-CRM
Value-added services:
These are extra services such as online auctions and online
training and education
11.
12. Goals of E-CRM
Reduce :
Costs of marketing
Improve :
Accuracy and relevancy of recommendations
Customer satisfaction
13. Goals of E-CRM
Increase :
Conversion rate, i.e., Turn browsers into buyers
Customer retention and frequency
Order size
customer response
competitiveness through differentiation
Profitability.
14. Key applications of E-CRM
1- Information integration application
An incomplete view of customers reduces their loyalty and trust
Consolidating customer data and information from different
sources
To keep up with every customer’s interaction
15. Key applications of E-CRM
2- Customer analysis application
Measures, predicts, and interprets customer behaviors
Predictive models to identify the customers most likely to
perform a particular activity
Online analytical processing, data mining and statistics
16. Key applications of E-CRM
3- Real-time decision application
To coordinate and synchronize communications across
disparate customer
An effective real-time decision application promotes
information exchange between the company and every
customer
17. Key applications of E-CRM
4- Personalized messaging application
Building customer profiles and enables customized product
and service offerings based on the information integration
application
18. Benefits of E-CRM
Retaining existing customers.
Selling more to existing customers.
Finding and winning new customers.
Interactions lead to trusted relationships:
Focus the business on improving customer relationships and
earning a greater share of each customer’s business.
19. Benefits of E-CRM
Increasing efficiency.
Improving marketing and sales decision making.
Enables 24/7 customers interaction: optimize interactive
relationships between customers and companies.
Personalization through technology: enable a business to
extend its personalized messaging through the Web and email.