The document describes a research study on customer relationship management (CRM). It discusses three types of CRM: strategic CRM, operational CRM, and analytical CRM. A literature review led to the generation of scale items to measure each type. Exploratory factor analysis and item-total correlations reduced the items. This resulted in three factors: customer orientation (5 items), analytical CRM (5 items), and operational CRM (4 items). Confirmatory factor analysis further validated the three-factor structure.
This document provides an overview of customer relationship management (CRM). It defines CRM as a process to compile customer information to better understand how to manage customer relationships. The document outlines several CRM models and strategies, including focusing on customer retention, developing customer loyalty over time, and creating customer value and engagement. It also discusses CRM applications in different contexts like B2B and B2C, and defines key terms like churn rate.
The document discusses customer relationship management (CRM) processes. It defines CRM processes as groups of actions that help achieve operational goals effectively. The main goals of CRM processes are to retain customers, simplify marketing and sales, improve customer service, acquire new customers, and increase revenue. CRM processes provide benefits like retaining profitable customers, acquiring the right customers to drive growth, and increasing individual customer profits. The document then examines specific CRM processes in more detail.
The document discusses the application of customer relationship management (CRM) strategies in different business areas. It begins by defining CRM and explaining its benefits, such as reducing costs, increasing profitability, and strengthening customer loyalty. It then examines how CRM strategies are applied specifically in the hotel industry, banking/insurance sectors, and healthcare. For each industry, it outlines how CRM helps improve marketing, sales, customer service and satisfaction, data collection/analysis, and overall business performance and competitiveness. CRM strategies are shown to provide targeted benefits depending on the particular products, services and customer needs of different business areas.
The document provides information about Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM). It defines ERP as a solution that facilitates integrated information systems across business functions. It explains that CRM involves using technology to organize customer interactions and processes like sales, marketing, and support. The document also summarizes some key CRM software vendors like SAP, Oracle, and Salesforce and discusses potential positive and negative business impacts as well as management considerations of implementing a CRM system.
This document discusses modeling customer relationships through a flexible, integrated data architecture. It describes evolving approaches to customer databases, from flat files to more sophisticated dimensional models. The key elements of a customer relationship management database are outlined, including tracking customer, product, contact and event details over time through a customer-centric model. This approach facilitates iterative questioning, contact list refinement, and integration with campaign management and analytical tools to better understand customer relationships and behavior.
This document provides an introduction to customer relationship management (CRM). It discusses the evolution from pre-industrial relationship-centric marketing to industrial era product-focused marketing and the return to relationship marketing in the information era. Technological advances, competition, growth of services, and quality management programs have enabled more effective CRM. CRM aims to enhance customer loyalty and relationships through understanding customers and multiple levels of service.
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.
This document provides an overview of customer relationship management (CRM). It defines CRM as a process to compile customer information to better understand how to manage customer relationships. The document outlines several CRM models and strategies, including focusing on customer retention, developing customer loyalty over time, and creating customer value and engagement. It also discusses CRM applications in different contexts like B2B and B2C, and defines key terms like churn rate.
The document discusses customer relationship management (CRM) processes. It defines CRM processes as groups of actions that help achieve operational goals effectively. The main goals of CRM processes are to retain customers, simplify marketing and sales, improve customer service, acquire new customers, and increase revenue. CRM processes provide benefits like retaining profitable customers, acquiring the right customers to drive growth, and increasing individual customer profits. The document then examines specific CRM processes in more detail.
The document discusses the application of customer relationship management (CRM) strategies in different business areas. It begins by defining CRM and explaining its benefits, such as reducing costs, increasing profitability, and strengthening customer loyalty. It then examines how CRM strategies are applied specifically in the hotel industry, banking/insurance sectors, and healthcare. For each industry, it outlines how CRM helps improve marketing, sales, customer service and satisfaction, data collection/analysis, and overall business performance and competitiveness. CRM strategies are shown to provide targeted benefits depending on the particular products, services and customer needs of different business areas.
The document provides information about Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM). It defines ERP as a solution that facilitates integrated information systems across business functions. It explains that CRM involves using technology to organize customer interactions and processes like sales, marketing, and support. The document also summarizes some key CRM software vendors like SAP, Oracle, and Salesforce and discusses potential positive and negative business impacts as well as management considerations of implementing a CRM system.
This document discusses modeling customer relationships through a flexible, integrated data architecture. It describes evolving approaches to customer databases, from flat files to more sophisticated dimensional models. The key elements of a customer relationship management database are outlined, including tracking customer, product, contact and event details over time through a customer-centric model. This approach facilitates iterative questioning, contact list refinement, and integration with campaign management and analytical tools to better understand customer relationships and behavior.
This document provides an introduction to customer relationship management (CRM). It discusses the evolution from pre-industrial relationship-centric marketing to industrial era product-focused marketing and the return to relationship marketing in the information era. Technological advances, competition, growth of services, and quality management programs have enabled more effective CRM. CRM aims to enhance customer loyalty and relationships through understanding customers and multiple levels of service.
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.
Readiness for CRM - 11 Steps to Plan & Prepare for CRMPreact Ltd
Presentation demonstrating 11 key steps to help businesses plan and prepare for Customer Relationship Management readiness.
Preact are a UK based consultancy partner helping organisations achieve outstanding success from their CRM strategy.
Visit http://www.preact.co.uk to learn more.
Customer relationship management (CRM) systems capture, integrate, and analyze customer data from across an organization to provide a single view of customers. CRM systems examine customers from many perspectives to address all aspects of customer relationships, including customer service, sales, and marketing. CRM software packages provide tools to support operational CRM like sales force automation and customer service, as well as analytical CRM to analyze customer data and assess things like customer lifetime value. Implementing CRM systems can provide business benefits such as increased customer satisfaction, reduced marketing costs, more effective marketing, and increased sales revenue.
A framework for customer relationship managementVivek Gopan
1. Customer relationship management (CRM) involves using technology to organize sales, marketing, customer service and technical support to manage interactions with current and future customers.
2. Companies analyze customer purchase histories and characteristics stored in a customer information file to calculate customer lifetime value and identify the most profitable customers to target.
3. Relationship marketing programs like loyalty programs, customer satisfaction initiatives, and mass customization are used to increase customer retention, loyalty, and long-term profitability.
This document discusses customer relationship management (CRM). It defines CRM as a business strategy to understand, anticipate, and respond to customer needs to grow relationships. There are five types of CRM: analytical, collaborative, operational, geographic, and sales intelligence. The purpose of CRM is to create value for customers and the company. Implementing CRM requires a strategic review and addressing infrastructure, vendors, and future needs. Technology like loyalty cards and CRM software help gather customer data to personalize service. Benefits include reduced costs, increased satisfaction, and long term profitability.
Parth\'s in it\'s endeavour to manage sales effectively with real time communication tools ,developed the crm,which will guide companies towards excellence in customer relationship.
This document summarizes a strategy for implementing a CRM (customer relationship management) system at a public research centre. It begins by defining CRM and identifying key success factors, including overcoming resistance to change, aligning the CRM strategy with the organization, adopting a customer-centric approach, and ensuring technological maturity. It then outlines the CRM implementation strategy for the research centre, focusing on why CRM is being adopted and how the implementation will address the critical success factors.
This document discusses successful customer relationship management (CRM) projects and measures. It defines CRM and identifies key elements and modules. The document outlines factors for successful CRM strategies, implementations, and organizational changes. These include having a clear customer-focused strategy, integrating technology and processes, and transforming the organization to be customer-centric. The document also discusses various customer-focused measures that can indicate CRM project success, such as customer lifetime value, retention rates, and profitability.
CRM project management uses skills, tools, and processes to ensure project success. It includes a series of processes, required skills, and tools. CRM project management is important as it reduces time and costs, minimizes risks, and keeps staff motivated and responsible by setting clear expectations.
This document discusses various aspects of customer relationship management (CRM) in marketing. It describes target marketing, which involves promoting products or services to specific customer subsets defined by geographic, demographic, or other characteristics. It also discusses refining marketing campaigns, relationship marketing to understand customer preferences, campaign management through tailored creative messages and media selection, and closed-loop campaign management. Finally, it outlines several CRM marketing initiatives including cross-selling, customer retention, behavior prediction, and ensuring customer privacy.
The concepts of customer relationship management (CRM) and knowledge management (KM) both focus on allocating resources to supportive business activities in order to gain competitive advantages.
This document discusses customer relationship management (CRM) and sales force automation (SFA). It covers key aspects of CRM like collecting customer touchpoints, sales force issues, and using SFA as a cross-functional activity. It also describes components of SFA like contact management, lead management, and sales process management. Strategic advantages of SFA include increased productivity and customer satisfaction, while disadvantages include costs and difficulty integrating with other systems. The document provides an overview of CRM and SFA concepts.
Reliance Retail aims to establish a customer relationship management (CRM) strategy to create superior customer value and deliver high customer satisfaction. The strategy involves segmenting customers based on a Customer Relationship Index that considers recency, longevity, frequency and value of purchases. Customers will be placed into relationship segments like strangers, acquaintances, friends or true friends. Different relationship propositions and actions will be taken for each segment. The CRM process also includes introducing a rewards program to encourage early and frequent redemptions, and using tools like MySAPCRM for identifying target groups and building campaigns to close business gaps.
This presentation explains about SugarCRM implementations and the organization’s benefits in practicing six sigma. It quantifies the CRM implementation benefits. The presentation also highlights the in-depth CRM understanding of PenguinCRM and gives an overview of SugarCRM, which is a leading open source CRM application.
Customer Relationship Management in freight forwardingHeisenberg26
Freight forwarders use customer relationship management (CRM) systems and strategies to gain loyal customers. They collect customer data to develop predictive models and improve communications. Maintaining trust, satisfaction, commitment and service quality builds strong relationships and reduces costs of attracting new customers. Freight forwarders also use key account management, targeting major customers, and customized communication and rewards to strengthen bonds with valuable clients. CRM implementation varies by market but helps freight forwarders efficiently manage customers in highly competitive environments.
This document discusses technological tools for customer relationship management (CRM). It covers the main functionality of CRM applications including sales force automation, campaign management, and customer service and support. Specifically, it describes the functionality required for campaign management like workflow, segmentation, personalization, execution, response management, and response modeling. It also discusses the sales cycle and functionality needed for sales force automation, including interfacing with marketing campaigns and business contact/account management. Finally, it outlines the full customer service cycle from logging requests to billing.
CRM stands for Customer Relationship Management. The document discusses the basics of CRM including definitions, objectives, ingredients, types and considerations for CRM software selection. There are four main types of CRM - strategic, operational, analytical and collaborative. Strategic CRM focuses on acquiring and retaining profitable customers while operational CRM covers customer-facing processes like marketing, sales and service. Analytical CRM analyzes customer data and collaborative CRM facilitates cooperation across organization boundaries. The goal of any CRM system is to increase customer loyalty and business profits.
This document provides an overview of relationship marketing and customer relationship management (CRM). It discusses the meaning and scope of relationship marketing, including its focus on building internal and external relationships with key stakeholders. It also outlines the evolution of relationship marketing approaches over time from direct mail to loyalty marketing. The document then covers characteristics of relationship marketing like being a business strategy, involving two-way relationships, and being customized. It also discusses types of customer relationships, fundamental CRM concepts, and strategies for planning and implementing relationship marketing and CRM programs.
Making CRM Work. The 5 Critical Success Factors.QGate
From our two decades of knowledge and experience, we believe there are 5 areas that are crucial in making a CRM project a success.
Over the last couple of decades, we have had the pleasure of working with customers, helping them to realise the value of their data. There to listen, understand their business needs and guide them through the challenge of turning their data into a profitable asset.
At QGate, we make CRM work. This may seem a bold statement, but it’s true. Over the years, we have experienced the highs and the lows of CRM. We’ve witnessed project failures and the all too common pitfalls that are out there. In many situations, we’ve heard customers blame their previous supplier for the failure, but this is not always true.
We're proud of the many successful CRM projects that QGate have been part of and the long standing relationships we have developed. All of these experiences have shaped who we are today and our belief that there are 5 crucial areas in making a CRM project a success.
If you have a few minutes, take a look at our introductory video which outlines what we believe are the 5 critical success factors for a CRM project.
Hopefully that has given you some food for thought. We wish you every success with your own CRM project.
http://www.qgate.co.uk/qgate-we-make-crm-work/
The document discusses customer relationship management (CRM) strategies and the use of data in CRM. It describes the C-MAT model for customer management, which involves understanding customer value, behavior and attitudes. It also discusses integrating customer data into CRM strategies using tools like data warehousing and data mining to collect and analyze large amounts of customer data. The document provides examples of how companies can use data mining techniques like correlation, segmentation and propensity analysis to gain insights into customers.
The document discusses customer relationship management (CRM) and its key aspects. It defines CRM as a business strategy and infrastructure that enables companies to increase customer value, loyalty, and retention by tracking and managing customer interactions. The document categorizes CRM into strategic, operational, analytical, and collaborative types and notes operational and analytical CRM focus on direct customer interactions and understanding customers respectively. It also outlines requirements for effective CRM software and discusses how CRM supports marketing, employee relationship management, and partner relationship management goals.
This document discusses customer relationship management (CRM) and customer experience (CX) management. It defines CRM as a system for managing interactions with current and future customers through sales, marketing, customer service and technical support. Key characteristics of CRM include relationship management, sales force automation, use of data warehouse technology, and opportunity management. Implementing CRM involves analyzing, planning, implementing, testing, deploying and training. CX management focuses on creating complete customer profiles, personalizing interactions, and providing the right information at the right time. Benefits include strengthening brands, boosting revenue and loyalty, and lowering costs.
Readiness for CRM - 11 Steps to Plan & Prepare for CRMPreact Ltd
Presentation demonstrating 11 key steps to help businesses plan and prepare for Customer Relationship Management readiness.
Preact are a UK based consultancy partner helping organisations achieve outstanding success from their CRM strategy.
Visit http://www.preact.co.uk to learn more.
Customer relationship management (CRM) systems capture, integrate, and analyze customer data from across an organization to provide a single view of customers. CRM systems examine customers from many perspectives to address all aspects of customer relationships, including customer service, sales, and marketing. CRM software packages provide tools to support operational CRM like sales force automation and customer service, as well as analytical CRM to analyze customer data and assess things like customer lifetime value. Implementing CRM systems can provide business benefits such as increased customer satisfaction, reduced marketing costs, more effective marketing, and increased sales revenue.
A framework for customer relationship managementVivek Gopan
1. Customer relationship management (CRM) involves using technology to organize sales, marketing, customer service and technical support to manage interactions with current and future customers.
2. Companies analyze customer purchase histories and characteristics stored in a customer information file to calculate customer lifetime value and identify the most profitable customers to target.
3. Relationship marketing programs like loyalty programs, customer satisfaction initiatives, and mass customization are used to increase customer retention, loyalty, and long-term profitability.
This document discusses customer relationship management (CRM). It defines CRM as a business strategy to understand, anticipate, and respond to customer needs to grow relationships. There are five types of CRM: analytical, collaborative, operational, geographic, and sales intelligence. The purpose of CRM is to create value for customers and the company. Implementing CRM requires a strategic review and addressing infrastructure, vendors, and future needs. Technology like loyalty cards and CRM software help gather customer data to personalize service. Benefits include reduced costs, increased satisfaction, and long term profitability.
Parth\'s in it\'s endeavour to manage sales effectively with real time communication tools ,developed the crm,which will guide companies towards excellence in customer relationship.
This document summarizes a strategy for implementing a CRM (customer relationship management) system at a public research centre. It begins by defining CRM and identifying key success factors, including overcoming resistance to change, aligning the CRM strategy with the organization, adopting a customer-centric approach, and ensuring technological maturity. It then outlines the CRM implementation strategy for the research centre, focusing on why CRM is being adopted and how the implementation will address the critical success factors.
This document discusses successful customer relationship management (CRM) projects and measures. It defines CRM and identifies key elements and modules. The document outlines factors for successful CRM strategies, implementations, and organizational changes. These include having a clear customer-focused strategy, integrating technology and processes, and transforming the organization to be customer-centric. The document also discusses various customer-focused measures that can indicate CRM project success, such as customer lifetime value, retention rates, and profitability.
CRM project management uses skills, tools, and processes to ensure project success. It includes a series of processes, required skills, and tools. CRM project management is important as it reduces time and costs, minimizes risks, and keeps staff motivated and responsible by setting clear expectations.
This document discusses various aspects of customer relationship management (CRM) in marketing. It describes target marketing, which involves promoting products or services to specific customer subsets defined by geographic, demographic, or other characteristics. It also discusses refining marketing campaigns, relationship marketing to understand customer preferences, campaign management through tailored creative messages and media selection, and closed-loop campaign management. Finally, it outlines several CRM marketing initiatives including cross-selling, customer retention, behavior prediction, and ensuring customer privacy.
The concepts of customer relationship management (CRM) and knowledge management (KM) both focus on allocating resources to supportive business activities in order to gain competitive advantages.
This document discusses customer relationship management (CRM) and sales force automation (SFA). It covers key aspects of CRM like collecting customer touchpoints, sales force issues, and using SFA as a cross-functional activity. It also describes components of SFA like contact management, lead management, and sales process management. Strategic advantages of SFA include increased productivity and customer satisfaction, while disadvantages include costs and difficulty integrating with other systems. The document provides an overview of CRM and SFA concepts.
Reliance Retail aims to establish a customer relationship management (CRM) strategy to create superior customer value and deliver high customer satisfaction. The strategy involves segmenting customers based on a Customer Relationship Index that considers recency, longevity, frequency and value of purchases. Customers will be placed into relationship segments like strangers, acquaintances, friends or true friends. Different relationship propositions and actions will be taken for each segment. The CRM process also includes introducing a rewards program to encourage early and frequent redemptions, and using tools like MySAPCRM for identifying target groups and building campaigns to close business gaps.
This presentation explains about SugarCRM implementations and the organization’s benefits in practicing six sigma. It quantifies the CRM implementation benefits. The presentation also highlights the in-depth CRM understanding of PenguinCRM and gives an overview of SugarCRM, which is a leading open source CRM application.
Customer Relationship Management in freight forwardingHeisenberg26
Freight forwarders use customer relationship management (CRM) systems and strategies to gain loyal customers. They collect customer data to develop predictive models and improve communications. Maintaining trust, satisfaction, commitment and service quality builds strong relationships and reduces costs of attracting new customers. Freight forwarders also use key account management, targeting major customers, and customized communication and rewards to strengthen bonds with valuable clients. CRM implementation varies by market but helps freight forwarders efficiently manage customers in highly competitive environments.
This document discusses technological tools for customer relationship management (CRM). It covers the main functionality of CRM applications including sales force automation, campaign management, and customer service and support. Specifically, it describes the functionality required for campaign management like workflow, segmentation, personalization, execution, response management, and response modeling. It also discusses the sales cycle and functionality needed for sales force automation, including interfacing with marketing campaigns and business contact/account management. Finally, it outlines the full customer service cycle from logging requests to billing.
CRM stands for Customer Relationship Management. The document discusses the basics of CRM including definitions, objectives, ingredients, types and considerations for CRM software selection. There are four main types of CRM - strategic, operational, analytical and collaborative. Strategic CRM focuses on acquiring and retaining profitable customers while operational CRM covers customer-facing processes like marketing, sales and service. Analytical CRM analyzes customer data and collaborative CRM facilitates cooperation across organization boundaries. The goal of any CRM system is to increase customer loyalty and business profits.
This document provides an overview of relationship marketing and customer relationship management (CRM). It discusses the meaning and scope of relationship marketing, including its focus on building internal and external relationships with key stakeholders. It also outlines the evolution of relationship marketing approaches over time from direct mail to loyalty marketing. The document then covers characteristics of relationship marketing like being a business strategy, involving two-way relationships, and being customized. It also discusses types of customer relationships, fundamental CRM concepts, and strategies for planning and implementing relationship marketing and CRM programs.
Making CRM Work. The 5 Critical Success Factors.QGate
From our two decades of knowledge and experience, we believe there are 5 areas that are crucial in making a CRM project a success.
Over the last couple of decades, we have had the pleasure of working with customers, helping them to realise the value of their data. There to listen, understand their business needs and guide them through the challenge of turning their data into a profitable asset.
At QGate, we make CRM work. This may seem a bold statement, but it’s true. Over the years, we have experienced the highs and the lows of CRM. We’ve witnessed project failures and the all too common pitfalls that are out there. In many situations, we’ve heard customers blame their previous supplier for the failure, but this is not always true.
We're proud of the many successful CRM projects that QGate have been part of and the long standing relationships we have developed. All of these experiences have shaped who we are today and our belief that there are 5 crucial areas in making a CRM project a success.
If you have a few minutes, take a look at our introductory video which outlines what we believe are the 5 critical success factors for a CRM project.
Hopefully that has given you some food for thought. We wish you every success with your own CRM project.
http://www.qgate.co.uk/qgate-we-make-crm-work/
The document discusses customer relationship management (CRM) strategies and the use of data in CRM. It describes the C-MAT model for customer management, which involves understanding customer value, behavior and attitudes. It also discusses integrating customer data into CRM strategies using tools like data warehousing and data mining to collect and analyze large amounts of customer data. The document provides examples of how companies can use data mining techniques like correlation, segmentation and propensity analysis to gain insights into customers.
The document discusses customer relationship management (CRM) and its key aspects. It defines CRM as a business strategy and infrastructure that enables companies to increase customer value, loyalty, and retention by tracking and managing customer interactions. The document categorizes CRM into strategic, operational, analytical, and collaborative types and notes operational and analytical CRM focus on direct customer interactions and understanding customers respectively. It also outlines requirements for effective CRM software and discusses how CRM supports marketing, employee relationship management, and partner relationship management goals.
This document discusses customer relationship management (CRM) and customer experience (CX) management. It defines CRM as a system for managing interactions with current and future customers through sales, marketing, customer service and technical support. Key characteristics of CRM include relationship management, sales force automation, use of data warehouse technology, and opportunity management. Implementing CRM involves analyzing, planning, implementing, testing, deploying and training. CX management focuses on creating complete customer profiles, personalizing interactions, and providing the right information at the right time. Benefits include strengthening brands, boosting revenue and loyalty, and lowering costs.
The document provides an overview of customer relationship management (CRM). It discusses that CRM focuses on understanding customer needs and creating value through relationships rather than just transactions. CRM involves gathering customer data, customizing communications and offers, and using integrated systems to support relationship management across departments. The goal is to encourage repeat purchases and reduce customers switching to competitors by delivering superior personalized service and value.
The document provides an overview of chapters 9.1 and 9.2 from the textbook "Business Driven Information Systems 2e".
Chapter 9.1 discusses customer relationship management (CRM), including operational CRM which supports front-office customer interactions, and analytical CRM which supports back-office analysis. It describes how different departments can use CRM technologies and metrics.
Chapter 9.2 discusses business intelligence (BI) which analyzes data to support decision making. It describes the challenges of managing large data volumes and how BI can provide reliable, consistent insights through operational, tactical and strategic analysis. Data mining tools are used to find patterns in large datasets.
Advance technology and globalization has lead to competition so fierce never before.
Due to this intense competitive environment has shown a paradigm shift from transaction model to the relationship model where the focus is on long term customer satisfaction rather than short term profit acquiring by the business.
So, keeping your existing customer satisfied and maximizing Customer Lifetime Value (CLV) have significant importance than acquiring new customer.
In marketing, customer lifetime value (CLV), lifetime customer value (LCV), or lifetime value (LTV) is the net present value of the cash flows attributed to the relationship with a customer.
The use of customer lifetime value as a marketing metric tends to place greater emphasis on customer service and long-term customer satisfaction, rather than on maximizing short-term sales.
The concept of CLV helps the marketer to analyze the cost of acquiring , servicing and retaining a certain set of customer in the market
CRM definition
CRM characteristics
Components
The role of CRM
Examples of a successful CRM
The challenges that CRM faces
Success factors of CRM
Research discussion
The document provides an overview of customer relationship management (CRM). It defines CRM and discusses its key components, including strategic, operational, and analytical CRM. The document also outlines several CRM models and frameworks. It explains the functions of CRM, including sales force automation, marketing automation, and customer service automation. Finally, it describes the types of CRM and models for implementing CRM strategies.
Customer relationship management (CRM) refers to the processes and technologies used to manage relationships with customers. It involves tracking customer interactions across sales, marketing, customer service, and other functions. The key components of CRM include contact and account management, sales, marketing and fulfillment, customer service and support, and retention and loyalty programs. CRM systems allow companies to better understand customer needs and provide personalized customer experiences.
The document discusses customer relationship management (CRM). It defines CRM and explains why companies need it. It describes the main goals of CRM as gaining insights into customer behavior and values to improve customer service, marketing/sales processes, and increase customer revenue. It also outlines different types of CRM, such as operational, analytical, consumer, and collaborative CRM. Finally, it covers CRM implementation options, benefits, costs, and provides definitions of CRM from industry experts.
Measures the effectiveness of your social media campaigns at fostering positive engagement. Interaction: A communication between an audience member and your brand's social profile.
CRM analytics help telecom companies understand customer behavior and needs through collecting and analyzing customer data. This allows companies to increase customer retention, reduce churn, improve cross-selling opportunities, and enhance customer experience. T-Mobile uses CRM analytics to identify influential customers within social networks to improve marketing and reduce churn. Airtel also implemented an Oracle CRM system to centralize customer data and provide consistent service across multiple call centers.
The document describes a promotional scheme run by an advertising agency for Cello thermoware in Mumbai, where teams of callers rang 33,000 random phone numbers in the city and those who answered with "Cello" instead of "Hello" were eligible to win a free product. The unconventional idea of calling people and having them say "Cello" proved very successful at achieving top-of-mind awareness of the brand, with over 3,800 winners receiving prizes over the week-long promotion period in Mumbai. The creative marketing scheme was praised for being an "accha idea" or good idea that generated significant awareness for Cello thermoware products.
The document discusses enterprise systems including enterprise resource planning (ERP) systems, supply chain management systems, and customer relationship management (CRM) systems. ERP systems integrate software modules to support core business functions like finance, human resources, manufacturing, and sales. Supply chain management systems automate information flow between companies and partners to plan, source, produce, deliver, and return goods. CRM systems manage customer relationships and data to optimize revenue, satisfaction, and retention. The document also covers challenges and guidelines for implementing these enterprise applications.
This document provides an overview of customer relationship management (CRM). It discusses the key topics covered in an ITM 309 course, including the different types of CRM technologies used by various business departments. Operational CRM supports front-office customer interactions while analytical CRM supports back-office strategic analysis. The document also examines factors driving CRM growth, best practices for implementation, and related concepts like supplier relationship management, partner relationship management, and employee relationship management.
The document discusses strategic customer relationship management (CRM). It defines strategic CRM and its key components, including customer management orientation, integration and alignment of organizational processes, and information capture and alignment of technology. It also presents a case study of IBM's CRM implementation, which delivered $2 billion in cost reductions and other benefits through an integrated process enabled by CRM. The summary discusses the key aspects and lessons from IBM's large-scale CRM implementation.
The document discusses electronic customer relationship management (E-CRM). It defines E-CRM as using information technology to integrate internal resources and external marketing strategies to understand and fulfill customer wants. E-CRM offers sharing of information and analytical tools to analyze customer needs and maintain long-term relationships. Key components of an E-CRM strategy include collaborative technologies, web services, e-sales, e-marketing, e-profiling, and e-services. The document also outlines advantages like mass customization and convenient customer access, and disadvantages such as difficulty identifying business problems and potential network failures irritating customers.
This document discusses customer relationship management (CRM). It defines CRM as a strategic process for selecting and interacting with profitable customers. The key components of CRM include having a strategic process, selecting valuable customers, interacting through dialogue, defining customers, and maximizing customer value and equity. The CRM model involves creating a customer database, analyzing the data, selecting customers, targeting them with relationship programs, addressing privacy issues, and using metrics to measure loyalty.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSS
During the budget session of 2024-25, the finance minister, Nirmala Sitharaman, introduced the “solar Rooftop scheme,” also known as “PM Surya Ghar Muft Bijli Yojana.” It is a subsidy offered to those who wish to put up solar panels in their homes using domestic power systems. Additionally, adopting photovoltaic technology at home allows you to lower your monthly electricity expenses. Today in this blog we will talk all about what is the PM Surya Ghar Muft Bijli Yojana. How does it work? Who is eligible for this yojana and all the other things related to this scheme?
Call8328958814 satta matka Kalyan result satta guessing➑➌➋➑➒➎➑➑➊➍
Satta Matka Kalyan Main Mumbai Fastest Results
Satta Matka ❋ Sattamatka ❋ New Mumbai Ratan Satta Matka ❋ Fast Matka ❋ Milan Market ❋ Kalyan Matka Results ❋ Satta Game ❋ Matka Game ❋ Satta Matka ❋ Kalyan Satta Matka ❋ Mumbai Main ❋ Online Matka Results ❋ Satta Matka Tips ❋ Milan Chart ❋ Satta Matka Boss❋ New Star Day ❋ Satta King ❋ Live Satta Matka Results ❋ Satta Matka Company ❋ Indian Matka ❋ Satta Matka 143❋ Kalyan Night Matka..
Starting a business is like embarking on an unpredictable adventure. It’s a journey filled with highs and lows, victories and defeats. But what if I told you that those setbacks and failures could be the very stepping stones that lead you to fortune? Let’s explore how resilience, adaptability, and strategic thinking can transform adversity into opportunity.
Prescriptive analytics BA4206 Anna University PPTFreelance
Business analysis - Prescriptive analytics Introduction to Prescriptive analytics
Prescriptive Modeling
Non Linear Optimization
Demonstrating Business Performance Improvement
Profiles of Iconic Fashion Personalities.pdfTTop Threads
The fashion industry is dynamic and ever-changing, continuously sculpted by trailblazing visionaries who challenge norms and redefine beauty. This document delves into the profiles of some of the most iconic fashion personalities whose impact has left a lasting impression on the industry. From timeless designers to modern-day influencers, each individual has uniquely woven their thread into the rich fabric of fashion history, contributing to its ongoing evolution.
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Stone Art Hub
Stone Art Hub offers the best competitive Marble Pricing in Dubai, ensuring affordability without compromising quality. With a wide range of exquisite marble options to choose from, you can enhance your spaces with elegance and sophistication. For inquiries or orders, contact us at ☎ 9928909666. Experience luxury at unbeatable prices.
Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
SATTA MATKA DPBOSS KALYAN MATKA RESULTS KALYAN CHART KALYAN MATKA MATKA RESULT KALYAN MATKA TIPS SATTA MATKA MATKA COM MATKA PANA JODI TODAY BATTA SATKA MATKA PATTI JODI NUMBER MATKA RESULTS MATKA CHART MATKA JODI SATTA COM INDIA SATTA MATKA MATKA TIPS MATKA WAPKA ALL MATKA RESULT LIVE ONLINE MATKA RESULT KALYAN MATKA RESULT DPBOSS MATKA 143 MAIN MATKA KALYAN MATKA RESULTS KALYAN CHART
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
ATTRIBUTES AND MEASUREMENT
1. GROUP 2 PRESENTATION
STRATEGIC, OPERATIONAL AND ANALYTICAL
CUSTOMER RELATIONSHIP MANAGEMENT:
ATTRIBUTES AND MEASURES
Author: Reiny Iriana
Macquarie Graduate School of Management
WHAT IS CRM
LITERATURE REVIEW
METHODOLOGY
CONCLUSION
Huynh Thanh Phong M987Z242
Le Thi Ngoc Mai M987Z243
Nguyen Thuy Hang M987Z236
Bui Thi Thuy M987Z204
Pham Thi Nguyet M987Z241
2. WHAT IS CRM?
WHAT IS CRM?
LITERATURE REVIEW
METHODOLOGY
CONCLUSION
CRM is a business strategy combined with technology to
effectively manage the complete customer life-cycle
(Smith 2001)
CRM is the establishment, development, maintenance and
optimization of long-term mutually valuable relationships
between customers and organizations (CRM (UK) 2001)
A CRM system is comprised of 2 major components: a set of
functions that allows the organization to build an
understanding of customer behavior, and a second set of
functions that allow us to communicate with customers,
across many channels, to meet their service requirements,
and to try to persuade them to behave more profitably
(Forsyth 2001)
CRM is an e-commerce application (Khanna 2001)
CRM aligns business processes with customer strategies to
build customer loyalty and increase profits over time
(Rigby 2002)
3. BUT……
“There is no one correct
definition of CRM. Moreover,
the definition of CRM will
evolve and change over time”
(Goldenberg 2000)
WHAT IS CRM?
LITERATURE REVIEW
METHODOLOGY
CONCLUSION
4. WHAT IS CRM?
Payne(2001) developed a strategic framework for
CRM, consisting of five interrelated cross-
functional processes:
1. Strategic Development Process
2.Value Creation Process
3. Multi Channel Integration Process
4. Information Management Process
5. Performance Assessment Process
Four of these 5 processes are subsumed within
three forms of CRM
1. Strategic CRM
2. Operational CRM
3. Analytical CRM
WHAT IS CRM?
LITERATURE REVIEW
METHODOLOGY
CONCLUSION
6. 1. Strategic CRM
Operational CRM
WHAT IS CRM
Analytical CRM
METHODOLOGY
CONCLUSION
LITERATURE
REVIEW
Strategic CRM
7. 1. Strategic CRM
- In Payne’s (2001) view, the strategy development
and value creation processes jointly represent
Strategic CRM
- A top down perspective on CRM, which views
CRM as a core customer centric business strategy
that aims at winning and keeping profitable
customers (Buttle ,2004)
- The goal is to align the broader business strategy
with the customer strategy
Operational CRM
WHAT IS CRM
Analytical CRM
METHODOLOGY
CONCLUSION
LITERATURE
REVIEW
Strategic CRM
8. 1. Strategic CRM
- In the value creation process, business and
customer strategy decisions are translated into
implementation programs that generate value for
customers and company alike.
- The value the customer receives is delivered by
the company’s value proposition(s)
- The value the organization receives is the
company’s return on investment from its customer
management strategy.
Operational CRM
WHAT IS CRM
Analytical CRM
METHODOLOGY
CONCLUSION
LITERATURE
REVIEW
Strategic CRM
9. 2. Operational CRM
- Is a perspective on CRM which focuses on major
automation projects” (Buttle, 2004).
- Focus on the automation of selling, marketing,
and service functions but not limited at back office
functions such as human resources and finance
- Is to improve the efficiency and effectiveness of
customer management processes
Operational CRM
WHAT IS CRM
Analytical CRM
METHODOLOGY
CONCLUSION
LITERATURE
REVIEW
Strategic CRM
11. 3. Analytical CRM
- Is a bottom up perspective, which focuses on the
intelligent mining of customer data for strategic or
tactical purposes” (Buttle, 2004).
- Uses technology to accumulate and analyze
customer-related data, and to give direction to the
strategies and tactics that are implemented in the
channels and touch-points deploying Operational
CRM
- Standard technology applications within
Analytical CRM are data warehousing and data
mining solutions (Gebert, Geib, Kolbe, & Brenner,
2003).
Operational CRM
WHAT IS CRM
Analytical CRM
METHODOLOGY
CONCLUSION
LITERATURE
REVIEW
Strategic CRM
12. 3. Analytical CRM
- Doyle (2002) suggests that Analytical CRM
applications enable companies to perform 6 major
functions:
+ Analysis of the characteristics and behavior of
customers
+ Modeling to predict the behavior of customers
+ Communication management with customers
+ Personalized communication with customers
+ Interaction management
+ Optimization to determine the best
combination of customers, products and
communication channel
Operational CRM
WHAT IS CRM
Analytical CRM
METHODOLOGY
CONCLUSION
LITERATURE
REVIEW
Strategic CRM
13. 3. Analytical CRM
- Analytical CRM can increases an organization’s
revenue in a number of ways (SAS 2003):
+ Effective cross sell and up sell
+ Prediction of which customers are most likely
to buy
+ Identification of high value customers
+ Increased brand awareness
+ Increased customer satisfaction, loyalty and
referrals
Operational CRM
WHAT IS CRM
Analytical CRM
METHODOLOGY
CONCLUSION
LITERATURE
REVIEW
Strategic CRM
14. METHODOLOGY
The objective of the research was to develop a clearer
conceptualization of CRM, and, if feasible, to create a scale
that could be used to evaluate a company’s orientation
towards one or more of these three forms of CRM
The approach to creation of the scale was based on the
recommendations of Churchill (1979) for the development
of better marketing constructs.
3 Phases included:
- Phase 1: Generation of Scale Items
- Phase 2: Scale Refinement: Exploratory Factor Analysis
and Item-Total Correlations
- Phase 3: Scale Refinement: Confirmatory Factor Analysis
WHAT IS CRM
METHODOLOGY
METHODOLOGY
LITERATURE REVIEW
15. 1. Phase 1: Generation of Scale Items
- Based on the literature review of a set of
attributes that had been used to describe and
discriminate between different three forms of CRM
to generate a pool of 32 items for the research.
+ A set of questions on Strategic CRM
+ A set of questions on Operational CRM
+ A set of questions on Analytical CRM
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
16. 1. Phase 1: Generation of Scale Items
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
Items Strategic CRM
S7
An important objective of our CRM program is to enhance the
lifetime value of our customers
S14
improve our understanding of customer needs, expectations
and preferences
S19 lift customer satisfaction and retention levels
S20 CRM provides the basis of our competitive advantage
S21
Our CRM strategy aims to win and keep carefully chosen
customers or customer segments
S22.
Our CRM strategy creates mutual benefits for both
customers and company
S26
Our company is using CRM to create a customer-focused
business culture
S28
Our company is using CRM to ensure that all our people
understand which customers we want to serve
S29.
Our company is using CRM to help us be more customer
focused than our competitors
S30.
Our company is using CRM to find better ways of offering
customers more value
17. 1. Phase 1: Generation of Scale Items
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
Items Operational CRM
O4
An important objective of our CRM program is to enable us to adapt
our offer to suit different customers’ requirements
O6
Enable us to select the most appropriate communication channels for
interactions with customers
O9 help our marketing people run more effective and efficient campaigns
O10
help our sales people to have more effective and efficient interactions
with customers
O11
improve collaboration with our customers and channel
partners
O15 improve the productivity of our sales people
O16 reduce the cost of our customer-facing operations
O18
deliver consistent customer experience across all customer touch
points and channels
O23
Our company uses CRM to automate customer service
processes to make them more efficient and effective
O24
automate marketing processes to make them more efficient and
effective
O25
automate selling processes to make them more efficient and effective
18. 1. Phase 1: Generation of Scale Items
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
Items Analytical CRM
A1
An important objective of our CRM program is to create a
comprehensive customer-related database
A2
deliver customer data to our people at the right time so that
they can cross-sell and up-sell customers
A3
deliver customer data to our front line staff so that they can sell,
market and service our customers more effectively
A5
enable us to conduct intelligent analyses of customer data to
guide our marketing and sales efforts
A8
ensure that analysis of customer-related data underpins all
our customer interactions
A12
improve our ability to conduct real time analysis of data
when interacting with customers
A13 improve our forecasting capabilities
A17
the use of analytical tools to make sense of, and profit from,
customer data
A27
Our company is using CRM to enable us to obtain competitive
advantage from customer data
A31 Our company uses CRM help us identify high value customers
A32
uses customer information to construct customer profiles which are
used to improve the consistency of the customer’s experience
19. 2. Phase 2: Scale Refinement: Explanatory Factor
Analysis and Item – Total Correlations
- The initial stage of scale reduction was performed
using 2 statistical processes:
+ Exploratory factor analysis
+ Item-total correlations
- All 32 items were factor analyzed, using principal
component analysis with varimax rotation.
- This generated a 7- factor solution, with each
factor having an eigenvalue over 1. The 7 factors
solution accounted for 77.85% of the variance.
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
20. 2. Phase 2: Scale Refinement: Explanatory Factor
Analysis and Item – Total Correlations
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
21. 2. Phase 2: Scale Refinement: Explanatory Factor
Analysis and Item – Total Correlations
- The items with loadings of 0.4 or greater than one
of the factor were eliminated.
- 18 items remained: 3 items for Strategic CRM, 6
Items for Operational CRM and 9 items for
Analytical CRM.
- The resulting 3 factor solution accounted for
66.04% of the variance.
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
22. 2. Phase 2: Scale Refinement: Explanatory Factor
Analysis and Item – Total Correlations
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
23. 2. Phase 2: Scale Refinement: Explanatory Factor
Analysis and Item – Total Correlations
- At the end of Phase 2: Scale refinement, 14 items
remained, clustered and named as follows:
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
24. 2. Phase 2: Scale Refinement: Explanatory Factor
Analysis and Item – Total Correlations
Factor 1: Customer Orientation
5 items in total, made up of 3 items from the Strategic
CRM inventory (S19, S21 & S28), and 2 items with
the highest corrected item-total correlations, both
from the Analytical CRM inventory (A31 & A32).
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
Items Customer Orientation Factor
S19 lift customer satisfaction and retention levels
S21 Our CRM strategy aims to win and keep carefully chosen
customers or customer segments
S28 Our company is using CRM to ensure that all our people
understand which customers we want to serve
A31 Our company uses CRM help us identify high value customers
A32 uses customer information to construct customer profiles which
are used to improve the consistency of the customer’s
experience
25. 2. Phase 2: Scale Refinement: Explanatory Factor
Analysis and Item – Total Correlations
Factor 2: Analytical CRM
5 items in total, made up of 4 items from the
Analytical CRM inventory (A1, A2, A3, & A5), and 1
item from the Operational CRM inventory (O15).
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
Items Customer Orientation Factor
A1 An important objective of our CRM program is to create a
comprehensive customer-related database
A2 deliver customer data to our people at the right time so that
they can cross-sell and up-sell customers
A3 deliver customer data to our front line staff so that they can
sell, market and service our customers more effectively
A5 enable us to conduct intelligent analyses of customer data to
guide our marketing and sales efforts
O15 improve the productivity of our sales people
26. 2. Phase 2: Scale Refinement: Explanatory Factor
Analysis and Item – Total Correlations
Factor 3: Operational CRM
4 items in total, made up entirely of 4 items from the
Operational CRM inventory (O16, O23, O24, & O25).
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items Items Customer Orientation Factor
O16 Reduce the cost of our customer-facing operations
O23 Our company uses CRM to automate customer service
processes to make them more efficient and effective
O24 Automate marketing processes to make them more efficient
and effective
O25 Automate selling processes to make them more efficient and
effective
27. 3. Scale Refinement: Confirmatory Factor Analysis
- Gerbing & Anderson claim that Confirmatory
Factor Analysis provides a stricter assessment of
uni-dimensionality than Exploratory Factor Analysis
and item-total correlations . So it is employed in this
phase to check the result in the phase 2.
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
28. 3. Scale Refinement: Confirmatory Factor Analysis
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
29. 3. Scale Refinement: Confirmatory Factor Analysis
Analysis of Model Fit
Overall fit
Chi-square (CMIN) is the most fundamental measure of
overall fit, but the chi-square statistic is sensitive to sample size.
Chi-square is recommended for sample sizes between 100 and
200
Goodness-of-fit Index (GFI) generates a statistic between 0 to
1, where 0 indicates zero fit and 1 indicates perfect fit
The Root Mean Square Residual (RMSEA), values between
0.05 and 0.08 are acceptable. RMSEA is a better measure for
larger samples
Incremental Fit: measures compare the proposed model with
the null model
Adjusted Goodness-of-fit Index (AGFI), Tucker-Lewis
Index (TLI), and Normed Fit Index (NFI) are measures of
incremental fit. The recommended level for these three indexes
is 0.90
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
30. 3. Scale Refinement: Confirmatory Factor Analysis.
Analysis of Model Fit
- Chi-square was not statistically significant (X2= 84.68, d.f. =
74, p = 0.186). However, sample size means that this statistic
can be an unreliable indicator of fit.
- The RMSEA statistic is less than 0.1, which demonstrates an
acceptable level of fit
- Neither GFI nor AGFI reach the recommended minimum of
0.90
- TLI statistic indicates a very close fit, being above the
recommended minimum of 0.90, and NFI a close fit
Conclusion: the model provides an adequate level of fit.
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
31. 3. Scale Refinement: Confirmatory Factor Analysis.
Scale Reliability
- The reliability of each component (Customer Orientation,
Operational CRM and Analytical CRM) and the overall
(combined) scale is assessed by computing Cronbach alpha
- Reliabilities of the component scales are in the range of 0.751
to 0.891.
- The overall Cronbach alpha for the scale being 0.904
Conclusion: Reliability is satisfied.
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
Phase 2: EFA + ITC
Phase 3: CFA
Phase 1: Scale Items
Scale Items
Customer
Orientation
Analytical Operational
Cronbach alpha 0.871 0.891 0.751
Overall alpha 0.904
32. CONCLUSION
The results support the assertion that three forms of
CRM can be identified: Strategic (in this paper,
Customer Orientation), Operational and Analytical.
- Strategic CRM focuses on customer orientation, with
the objectives of a CRM implementation being:
+ to lift customer satisfaction and retention levels;
+ to win and keep carefully chosen customers or customer
segments;
+ to ensure that all employees understand which
customers the organization chooses to serve;
+ to identify high value customers; and
+ to construct customer profiles from customer
information, which can then be used to improve
the consistency of the customer’s experience
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW
33. CONCLUSION
- Analytical CRM focuses on customer data, with the
objectives of a CRM implementation being:
+ to create a comprehensive customer-related database
+ to deliver customer data to employees at the right time
so that they can cross-sell and up-sell customers
+ to deliver customer data to front-line staff so that they
can sell, market and service our customers more
effectively;
+ to conduct intelligent analyses of customer data to guide
marketing and sales efforts; and
+ to improve the productivity of sales people.
- Operational CRM focuses on the automation of
customer service, marketing, and selling processes,
with the objective of reducing the cost of customer-
facing operations
WHAT IS CRM
METHODOLOGY
CONCLUSION
LITERATURE REVIEW