CRM involves managing relationships with current and potential customers throughout the customer lifecycle. It aims to understand customer needs to provide seamless integration across business areas like marketing, sales, and customer service. CRM focuses on customer retention and maximizing lifetime customer value through personalized interactions. Technology plays a key role in CRM by enabling customer data collection and analysis to deliver targeted communications and services tailored to individual customers. Implementing a strategic CRM approach can provide benefits like increased customer satisfaction, cost reductions, and long-term profitability.
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
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
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.
Want to move your career forward? Looking to build your leadership skills while helping others learn, grow, and improve their skills? Seeking someone who can guide you in achieving these goals?
You can accomplish this through a mentoring partnership. Learn more about the PMISSC Mentoring Program, where you’ll discover the incredible benefits of becoming a mentor or mentee. This program is designed to foster professional growth, enhance skills, and build a strong network within the project management community. Whether you're looking to share your expertise or seeking guidance to advance your career, the PMI Mentoring Program offers valuable opportunities for personal and professional development.
Watch this to learn:
* Overview of the PMISSC Mentoring Program: Mission, vision, and objectives.
* Benefits for Volunteer Mentors: Professional development, networking, personal satisfaction, and recognition.
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Learn how you can make a difference in the project management community and take the next step in your professional journey.
About Hector Del Castillo
Hector is VP of Professional Development at the PMI Silver Spring Chapter, and CEO of Bold PM. He's a mid-market growth product executive and changemaker. He works with mid-market product-driven software executives to solve their biggest growth problems. He scales product growth, optimizes ops and builds loyal customers. He has reduced customer churn 33%, and boosted sales 47% for clients. He makes a significant impact by building and launching world-changing AI-powered products. If you're looking for an engaging and inspiring speaker to spark creativity and innovation within your organization, set up an appointment to discuss your specific needs and identify a suitable topic to inspire your audience at your next corporate conference, symposium, executive summit, or planning retreat.
About PMI Silver Spring Chapter
We are a branch of the Project Management Institute. We offer a platform for project management professionals in Silver Spring, MD, and the DC/Baltimore metro area. Monthly meetings facilitate networking, knowledge sharing, and professional development. For event details, visit pmissc.org.
The Impact of Artificial Intelligence on Modern Society.pdfssuser3e63fc
Just a game Assignment 3
1. What has made Louis Vuitton's business model successful in the Japanese luxury market?
2. What are the opportunities and challenges for Louis Vuitton in Japan?
3. What are the specifics of the Japanese fashion luxury market?
4. How did Louis Vuitton enter into the Japanese market originally? What were the other entry strategies it adopted later to strengthen its presence?
5. Will Louis Vuitton have any new challenges arise due to the global financial crisis? How does it overcome the new challenges?Assignment 3
1. What has made Louis Vuitton's business model successful in the Japanese luxury market?
2. What are the opportunities and challenges for Louis Vuitton in Japan?
3. What are the specifics of the Japanese fashion luxury market?
4. How did Louis Vuitton enter into the Japanese market originally? What were the other entry strategies it adopted later to strengthen its presence?
5. Will Louis Vuitton have any new challenges arise due to the global financial crisis? How does it overcome the new challenges?Assignment 3
1. What has made Louis Vuitton's business model successful in the Japanese luxury market?
2. What are the opportunities and challenges for Louis Vuitton in Japan?
3. What are the specifics of the Japanese fashion luxury market?
4. How did Louis Vuitton enter into the Japanese market originally? What were the other entry strategies it adopted later to strengthen its presence?
5. Will Louis Vuitton have any new challenges arise due to the global financial crisis? How does it overcome the new challenges?
Exploring Career Paths in Cybersecurity for Technical CommunicatorsBen Woelk, CISSP, CPTC
Brief overview of career options in cybersecurity for technical communicators. Includes discussion of my career path, certification options, NICE and NIST resources.
Resumes, Cover Letters, and Applying OnlineBruce Bennett
This webinar showcases resume styles and the elements that go into building your resume. Every job application requires unique skills, and this session will show you how to improve your resume to match the jobs to which you are applying. Additionally, we will discuss cover letters and learn about ideas to include. Every job application requires unique skills so learn ways to give you the best chance of success when applying for a new position. Learn how to take advantage of all the features when uploading a job application to a company’s applicant tracking system.
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
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Jaiser Abbas
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