This video is presented by USEP's BSCS student Alvin Mark U. Cabeliño under Mr. ND Arquillano as a partial fulfilment for Elective 4 -E-Commerce It talks about CRM.
This video is presented by USEP's BSCS student Alvin Mark U. Cabeliño under Mr. ND Arquillano as a partial fulfilment for Elective 4 -E-Commerce It talks about CRM.
The book has been designed to serve as an essential insight
necessary to understand CRM (Customer Relationship Management)
that especially meets the requirements of T5 MBA students of KTU
specializing in marketing. Substantive coverage has been given to
topics like CRM technology, Sales Force Automations, Enterprise
Marketing Automation, implementing CRM, Application Service
Provider, Impact of CRM on Marketing Channels and CRM Tools.
What is CRM? Why CRM is needed?
Technology Consideration of CRM, Steps Before Implementing CRM,Stages of Technology Implementation, Customer Intelligence, Customer Life Cycle Management, E-CRM, Frame Work of E-CRM, SIX “Es” IN E-CRM, E-CRM Architecture
Implementation of CRM in banking especially in cooperative banking dealing in developing economies. concept of CRM, process of CRM, types of CRM and with respect to types of CRM general recommendations to implement has proposed.
The book has been designed to serve as an essential insight
necessary to understand CRM (Customer Relationship Management)
that especially meets the requirements of T5 MBA students of KTU
specializing in marketing. Substantive coverage has been given to
topics like CRM technology, Sales Force Automations, Enterprise
Marketing Automation, implementing CRM, Application Service
Provider, Impact of CRM on Marketing Channels and CRM Tools.
What is CRM? Why CRM is needed?
Technology Consideration of CRM, Steps Before Implementing CRM,Stages of Technology Implementation, Customer Intelligence, Customer Life Cycle Management, E-CRM, Frame Work of E-CRM, SIX “Es” IN E-CRM, E-CRM Architecture
Implementation of CRM in banking especially in cooperative banking dealing in developing economies. concept of CRM, process of CRM, types of CRM and with respect to types of CRM general recommendations to implement has proposed.
Remote communication has become an integral component in the contemporary business environment. With the introduction of novel technologies and digital tools, businesses of all sizes can leverage the power of effective virtual communication. For this purpose, advanced technologies and tools are required to make communication effective, easy, and simple between remote customers and the bank. A contact centre is a central point from which organizations manage all customer interactions across various channels. Their primary purpose is to offer customers efficient and effective technical support, customer service and sales assistance.
Consumers' expectations keep on changing and they develop preferences and necessities very fast, according to trends and market changes. Digital solutions such as remote advisor help the Customer to focus on their real needs and educate them with the aim of selling the best product to every single person and not all products to everybody. Contact centres are growing in importance, as customers increasingly expect organizations to be consistently available on various channels, not just over the phone. Contact centres take an Omni channel approach, enabling them to refine customer service, increase efficiency and improve insights into customers' behaviours and needs to create better customer experiences.
The proliferation of, and rapid advances in, technology-based systems, especially those related to the internet, are leading to fundamental changes in how brands interact with customers. Virtual channels are becoming more relevant, with the increasing penetration of high-speed internet connectivity and web-enabled mobile devices allowing consumers to spend more time online.
This is true in some aspects of everyday life and for a number of products and services consumers require; spaces like utilities, financial services, insurance, telecommunications, fashion, publishing, and more – with their competitiveness and time-saving potential – all make for substantial improvements in customer experience when interactions between brand and user take place online, or on the go.
Faced with slow growth, retail banks today are under pressure to improve their quality of service, while also reducing costs to remain competitive in an extremely volatile and uncertain market. Distribution channels play a key role in delivering an enhanced customer experience as customer interactions begin, in some cases switch between, and end within specific channels, physical or virtual.
Financial institutions are searching for new avenues to connect with customers and sell their products. At the same time, consumer expectations are changing rapidly, with preference for a personalised, streamlined, engaging and digital experience. One emerging model that addresses these twin pressures is remote advice.
CBE has designed appropriate micro business segment with proper CVP that can increase customer experience through provision of alternative product
In this stiff and fast passed daily life and following business environment every minute counts and it’s not always easy to visit the bank office every time you need assistance from the banks side. owing to this fact customers demand for financial and service advice including questions regarding loan, repayment and many more to get supports by using digital remote advisory methods is growing quickly.
The modern business environment now includes remote guidance as a crucial element. Businesses of all sizes can benefit from the power of efficient virtual communication thanks to the emergence of advanced technologies and digital tools. To achieve this, advanced technologies and solutions are needed to enable communication between remote consumers and the bank in efficient, convenient, and easy way.
Customers' attitudes and demands change as a result of the rapidly advancing technological development and fast passed changing way of life. Customers request access to services and products without visiting the office by utilizing available internet technology within various platforms, which may result in simplifying the lives of customers and increasing the overall productivity of the country due to the ease of access of the banks services while the customers are working their own job.
Promoting remote advisory to customers isn’t a sales drive, it's an opportunity to support your existing and potential customers with improved remote servicing, availability and assistance. And it may enhance satisfaction of the customers by providing solutions to the problems raised in using services and products of.
Remote assistance during needy time is a crucial factor for the service delivery organ to get more intimacy with its customers for present and the future in this stiffer and competitive business environment. It is inherent to the human brain to remember what happened during stressful times more vividly and for a longer period of time. The level of digital servicing, meaningful help and empathy company can offer during needy time will have a lasting impact on your customer relationships.
Customers of MSL (micro saving and loan) will make requests for the newly opening loan accounts, as well as information about current loans, repayment amounts, and other contracts. There is a genuine sense of urgency surrounding this because clients need assistance to manage their financial and usage hardship. Also, since clients cannot or do not want to visit a branch, the service must be digital. For many banks that will necessitate considerably scaling up their digital servicing and remote administration channels to support customers.
Financial institutions are looking for new ways to reach out to customers and sell their products. Simultaneously, consumer expectations are rapidly changing, with a preference for a personalized, streamlined, engaging, and digital experience. Remote advice is one emerging model that addresses these pressures.
CBE has designed an appropria
Customer Relationship Management by Ravi KumudeshRavi Kumudesh
CRM “is a business strategy that aims to understand, anticipate and manage the needs of an organisation’s current and potential customers”
It is a “comprehensive approach which provides seamless integration of every area of business that touches the customer- namely marketing, sales, customer services and field support through the integration of people, process and technology”
CRM is a shift from traditional marketing as it focuses on the retention of customers in addition to the acquisition of new customers
“The expression Customer Relationship Management (CRM) is becoming standard terminology, replacing what is widely perceived to be a misleadingly narrow term, relationship marketing (RM)”
Customer relationship management (CRM) is the combination of practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
2. What is CRM?
• CRM “is a business strategy that aims to understand, anticipate
and manage the needs of an organisation’s current and
potential customers” (1).
• It is a “comprehensive approach which provides seamless
integration of every area of business that touches the customer-
namely marketing, sales, customer services and field support
through the integration of people, process and technology” (1)
• CRM is a shift from traditional marketing as it focuses on the
retention of customers in addition to the acquisition of new
customers (2)
• “The expression Customer Relationship Management (CRM) is
becoming standard terminology, replacing what is widely
perceived to be a misleadingly narrow term, relationship
marketing (RM)” (3).
3. Definition of CRM
“CRM is concerned with the creation,
development and enhancement of
individualised customer relationships with
carefully targeted customers and customer
groups resulting in maximizing their total
customer life-time value” (2).
4. The purpose of CRM
• “The focus [of CRM] is on creating value for the
customer and the company over the longer
term” (3).
• When customers value the customer service
that they receive from suppliers, they are less
likely to look to alternative suppliers for their
needs (3).
• CRM enables organisations to gain
‘competitive advantage’ over competitors that
supply similar products or services (1)
5. Why is CRM important?
• “Today’s businesses compete with multi-
product offerings created and delivered by
networks, alliances and partnerships of
many kinds. Both retaining customers and
building relationships with other value-
adding allies is critical to corporate
performance” (3).
• “The adoption of C.R.M. is being fuelled by a
recognition that long-term relationships with
customers are one of the most important
assets of an organisation” (2)
6. Why did CRM develop?
CRM developed for a number of reasons:
• The 1980’s onwards saw rapid shifts in
business that changed customer power (4)
• Supply exceeded demands for most products
(4)
• Sellers had little pricing power (4)
• The only protection available to suppliers of
goods and services was in their relationships
with customers (4)
7. What does CRM involve?
CRM involves the following (4):
• Organisations must become customer focused
• Organisations must be prepared to adapt so that
it take customer needs into account and delivers
them
• Market research must be undertaken to assess
customer needs and satisfaction
8. “Strategically significant customers”
• “Customer relationship management
focuses on strategically significant
markets. Not all customers are equally
important” (3).
• Therefore, relationships should be built
with customers that are likely to provide
value for services
• Building relationships with customers
that will provide little value could result in
a loss of time, staff and financial
resources
9. Markers of strategically significant customers
• Strategically significant customers need to satisfy at
least one of three conditions (3):
1.Customers with high life-time values (i.e.
customers that will repeatedly use the service in
the long-term e.g. Nurses in a hospital library)
2.Customers who serve as benchmarks for other
customers e.g. In a hospital library consultants who
teach on academic courses
3.Customers who inspire change in the supplier
10. Information Technology and CRM
• Technology plays a pivotal role in CRM (2).
• Technological approaches involving the use of
databases, data mining and one-to-one marketing can
assist organisations to increase customer value and their
own profitability (2)
• This type of technology can be used to keep a record of
customers names and contact details in addition to their
history of buying products or using services (2)
• This information can be used to target customers in a
personalised way and offer them services to meet their
specific needs (2)
• This personalised communication provides value for the
customer and increases customers loyalty to the provider
(2)
11. Information Technology and CRM: Examples
Here are examples of how technology can be used to create
personalised services to increase loyalty in customers:
• Phone calls, emails, mobile phone text messages, or WAP
services (2):
Having access to customers contact details and their service or
purchase preferences through databases etc can enable
organisations to alert customers to new, similar or alternative
services or products
- Illustration: When tickets are purchased online via
Lastminute.com, the website retains the customers details and
their purchase history. The website regularly send emails to
previous customers to inform them of similar upcoming events
or special discounts. This helps to ensure that customers will
continue to purchase tickets from Lastminute.com in the future.
12. Information Technology and CRM: Examples
• Cookies
“A “cookie” is a parcel of text sent by a server to a web
browser and then sent back unchanged by the browser
each time it accesses that server. HTTP cookies are used
for authenticating, tracking, and maintaining specific
information about users, such as site preferences and the
contents of their electronic shopping carts” (5).
- Illustration: The online store, Amazon, uses “cookies” to
provide a personalised service for its customers. Amazon
requires customers to register with the service when they
purchase items. When registered customers log in to
Amazon at a later time, they are ‘greeted’ with a welcome
message which uses their name (for e.g. “Hello John”). In
addition, their previous purchases are highlighted and a
list of similar items that the customer may wish to
purchase are also highlighted.
13. Information Technology and CRM:
Examples
• Loyalty cards
“the primary role of a retailer loyalty card is to gather data about customers.
This in turn leads to customer comprehension and cost insights (e.g. customer
retention rates at different spending levels, response rates to offers, new
customer conversion rates, and where money is being wasted on circulars),
followed by appropriate marketing action and follow-up analysis” (6)
- Illustration: The supermarket chain, Tescos, offers loyalty cards to its
customers. When customers use the loyalty cards during pay transactions for
goods, details of the purchases are stored in a database which enables
Tescos to keep track of all the purchases that their customers make. At
regular intervals, Tescos sends its customers money saving coupons by post
for the products that the customers have bought in the past. The aim of this is
to encourage customers to continually return to Tescos to do their shopping
• CRM software- “Front office” solutions
- “Many call centres use CRM software to store all of their customer's details.
When a customer calls, the system can be used to retrieve and store
information relevant to the customer. By serving the customer quickly and
efficiently, and also keeping all information on a customer in one place, a
company aims to make cost savings, and also encourage new customers” (7)
14. Face-to-face CRM
• CRM can also be carried out in face-to-face interactions
without the use of technology
• Staff members often remember the names and favourite
services/products of regular customers and use this
information to create a personalised service for them.
• For example, in a hospital library you will know the name
of nurses that come in often and probably remember the
area that they work in.
• However, face-to-face CRM could prove less useful when
organisations have a large number of customers as it
would be more difficult to remember details about each of
them.
15. Benefits of CRM
Benefits of CRM include (8):
• reduced costs, because the right things are being done
(ie., effective and efficient operation)
• increased customer satisfaction, because they are
getting exactly what they want (ie. meeting and
exceeding expectations)
• ensuring that the focus of the organisation is external
• growth in numbers of customers
• maximisation of opportunities (eg. increased services,
referrals, etc.)
• increased access to a source of market and competitor
information
• highlighting poor operational processes
• long term profitability and sustainability
16. Implementing CRM
• When introducing or developing CRM, a strategic
review of the organisation’s current position should be
undertaken (2)
• Organisations need to address four issues (2):
1. What is our core business and how will it evolve in the
future?
2. What form of CRM is appropriate for our business now
and in the future?
3. What IT infrastructure do we have and what do we
need to support the future organisation needs?
4. What vendors and partners do we need to choose?
17. References
1. Liz Shahnam. What’s really CRM? CRM Today. [Online] [Accessed
November 2008]
2. Adrian Payne. Customer relationship management. Cranfield
University. [Online] [Accessed June 2006, no longer available online]
3. Francis Buttle. The S.C.O.P.E of Customer Relationship Marketing.
Macquarie Graduate School of Management. [Online] [Accessed June
2006, no longer available online]
4. Manchester Business School. 2003. Customer Relationship
Management: Where do you start?
5. Wikipedia. HTTP Cookie. Online] [Accessed November 2008]
6. Brian Woolf. What is loyalty? The Wise Marketer. [Online] [Accessed
June 2006, no longer available online]
7. Wikipedia. Customer Relationship Management. [Online] [Accessed
November 2008]
8. BusinessBalls. Customer Relationship Management. [Online]
[Accessed November 2008]
18. Useful resources
If you wish to learn more about CRM, the following
resources may be of use to you:
1. CRM Guru
2. CRM Knowledge Base
3. CRM Today website
4. InsightExec: Customer Management Community
Additionally, the following article might be useful:
Broady-Preston, J., Felice, J. and Marshall, S.
(2006). Building better customer relationships: case
studies from Malta and the UK. Library Management
27 (6/7): 430-445.