Fred Cavazza – classification based on activity Shows the conversations and social interactions on computers, smartphones, tablets and connected television screens Facebook, Twitter and Google+ provide users with a large set of functionalities Twitter for content discovery, Google+ to manage your online identity and Facebook to interact with your friends Important for enterprises not to focus on choosing the right platform, but to build a consistent social architecture - it is about defining objectives and allocating resources

1. CUSTOMER RELATIONSHIP
MANAGEMENT
CONTEMPORARY ISSUES
SUBMITTED TO:
DR. MUKESH GOSWAMI
SUBMITTED BY:
ANUBHAV AGGARWAL -225/2022
APOORAV CHAUHAN -234/2022
POULOMI MUKHERJEE- 205/2022
PARTH AHLUWALIA- 221/2022
SHIVANT KATHAIT - 244/2022
VIDHI JAIN- 247/2022

2. ETHICAL ISSUES IN CRM
Collecting Consumer Data
1.
Ethical issues originating with the collection of customer data for CRM are
related to secure collection methods and to the verification of the
information.
Ethical companies ensure that sensitive information such as credit credit
card numbers or medical histories are collected in a secure environment and
transmitted back to the databases securely.
During data collection, it is also critical to verify the identity of the customer
and the accuracy of the information being submitted. High security for these
functions is costly but ethically necessary.

3. 2. Storing CRM Data
Once customer data is safely in a company database, ethical companies
adhere to four principles regarding storage :
Data is only stored with the agreement of the customer.
1.
Customers must be able to view their data
2.
Customers can either change their data or ask for it to be changed.
3.
Customers can withdraw from the program, and such a withdrawal causes
their data to be erased.
4.
The ethics behind these principles are that the data belongs to the customer
and the customer must be able to control his data.

4. 3. Using CRM Data
Given that much of the customer data for CRM is sensitive, ethical
companies ensure the data is kept private to the maximum extent possible.
To achieve this, the company must store the data in a form or in a location
not generally accessible.
The data must only be consulted when necessary for the fulfillment of a CRM
task, and only those employees who handle the data to complete the task
are able to access the data.
When sub-suppliers need to use the data, they must first commit to
restrictions similar to what the CRM company has in place.

5. 4. Disposing CRM Data
Since customers must be able to withdraw from the CRM program and since
their data is then erased, the company needs a procedure in place for safely
destroying customer data when it is no longer needed.
While deletion from the database is initially sufficient as long as the
database remains secure, data on obsolete equipment and equipment that
changes status to non-secure is at risk.
An ethical company has detailed policies and procedures for tracking and
destroying data and keep accurate records of such activities.

6. BENEFITS OF ETHICAL CRM
1. Enhanced Reputation: Ethical behavior enhances a company’s reputation, increasing trust among
customers and stakeholders. A good reputation can lead to customer loyalty and competitive
advantages.
2. Customer Loyalty: Ethical CRM fosters stronger, more meaningful customer relationships. Satisfied
customers are more likely to remain loyal and recommend the business to others.
3. Legal Compliance: Ethical CRM practices help businesses stay in compliance with data protection and
consumer protection laws, reducing the risk of legal issues and fines.
4. Risk Mitigation: By addressing ethical issues proactively, businesses can mitigate the risks of
reputational damage and negative publicity.
5. Long-term Sustainability: Ethical behavior and social responsibility initiatives contribute to long-term
business sustainability by aligning with the values and expectations of socially conscious consumers.

7. SAFEGUARDING CUSTOMER DATA
Safeguarding customer data is not only a legal and ethical
responsibility but also crucial for building trust and maintaining
long-term customer relationships.
1. Protecting Sensitive Customer Information:
CRM systems store a wealth of sensitive customer information,
including contact details, purchasing history, and personal
preferences. Protecting this data from unauthorized access and
cyber threats is of utmost importance.

8. 2. Ensuring Compliance with Data Protection Regulations:
With the introduction of stringent data protection regulations such
as the General Data Protection Regulation (GDPR), businesses are
obligated to handle customer data with utmost care and
transparency.
3. Implementing Role-Based Access Controls:
To minimize the risk of unauthorized access to customer data,
businesses should implement role-based access controls within their
CRM systems.

9. 4. Regular Data Backups and Disaster Recovery Plans:
Data loss can occur due to various reasons such as hardware failures,
natural disasters, or malicious activities. To safeguard customer data,
businesses should regularly back up CRM data and implement robust
disaster recovery plans.
5. Employee Training and Awareness:
Human error is one of the leading causes of data breaches.
Businesses should invest in comprehensive employee training
programs to educate staff about CRM security and privacy best
practices.

10. 6. Regular Security Audits and Updates:
CRM systems should be regularly audited to identify and address any
security vulnerabilities. This includes updating CRM software and
applications to the latest versions to ensure that security patches
and enhancements are implemented.Regular security assessments
help identify potential weaknesses in the system and allow
businesses to proactively address them, strengthening the overall
security posture.

11. Artificial Intelligence
Hyper-personalisation
Sustainable CRM
AR/VR
Metaverse

12. ARTIFICIAL INTELLIGENCE
AI in CRM offers vast possibilities, as evidenced by its applications across sales, marketing, and service
domains. The global explainable artificial intelligence (XAI) market, valued at $5.1 billion in 2022, is
projected to reach $16.2 billion by 2028 according to MarketsandMarkets. McKinsey identifies AI as a
top trend, highlighting its role in lead generation, personalized marketing, and efficient customer
service. From predicting customer trends to designing targeted marketing materials and providing
quick responses to inquiries, AI revolutionizes CRM processes, enhancing efficiency and customer
satisfaction.

13. Generative CRM
Generative CRM integrates generative AI with CRM systems, enhancing team
efficiency and productivity by automating tasks like drafting personalized emails
and analyzing customer interactions. Major players like Salesforce and Zoho are
already incorporating generative AI tools.
Automation revolutionizes mundane business tasks, freeing up valuable time
for employees to focus on critical thinking and high-value activities. Generative
CRM, streamlines processes like content creation and lead list building.
Automation
CHATBOT
Chatbots provides personalized assistance, quicker responses, and issue
resolution, thereby boosting customer satisfaction and loyalty. With 24/7
availability, chatbots ensure round-the-clock interaction, catering to
international and busy customer bases.

14. hyper-personalisation
Hyper-personalization deals in understanding customers' needs and intents, deeply to
tailor services, messaging, and marketing accordingly. It goes beyond mere
communication to genuine engagement, leveraging customer relationships effectively.
Techniques include sending customized messages aligned with previous purchase
patterns and leveraging data analytics and artificial intelligence for personalized banking
experiences. Adapting each employee's experiences based on their unique preferences
enhances customer engagement and satisfaction.

15. AR/VR
The augmented reality (AR) and virtual reality (VR) market is poised to reach $38.6
billion in revenue by 2024. Applications of AR/VR include product visualization,
immersive customer experiences, remote workspaces, sales processes, and employee
training. These technologies revolutionize CRM systems, offering enhanced customer
engagement, cost savings, and improved employee performance and skill development
through immersive and interactive experiences.

16. Sustainable CRm
It emphasizes optimizing energy consumption, minimizing waste generation, and embracing
eco-friendly technologies. Future CRM systems are expected to enhance supply chain
transparency, enabling businesses to monitor suppliers' environmental practices and
product origins. CRMs equipped with AI and predictive analytics offer insights into
resource consumption patterns, facilitating inventory optimization and waste reduction.
Moreover, recent events highlight the increasing scrutiny of companies' ethics,
underscoring the impact of social responsibility in today's consumer landscape.

17. METAVERSE
The metaverse encompasses virtual realities, digital avatars, and augmented
experiences, offering unique opportunities for CRM integration. With the global
metaverse market projected to reach $936.6 billion by 2030, major players like
Microsoft and Sony are investing heavily in its development By leveraging CRM data,
businesses can personalize experiences and track customer interactions within the
virtual world. CRM tools can facilitate the development of metaverse applications
connected to generative AI tools, enabling dynamic sales forecasting and enhanced
customer engagement.

18. PROMOTION AND SALES

25. Enhanced Targeting

27. Increased Sales:
Targeted promotions lead to higher conversion rates.
Personalization enhances customer engagement and loyalty.
Improves overall sales performance.
Stronger Customer Relationships:
Personalized approach fosters trust and loyalty.
Customers feel valued and understood.
Builds long-term relationships, leading to repeat business and
referrals.
Conclusion

28. Thank
Thank
Thank
you!
you!
you!