This document discusses customer relationship management (CRM). It defines CRM as creating, developing, and enhancing individualized customer relationships to maximize lifetime customer value. CRM originated in the 1970s and aims to establish long-term, one-to-one relationships by understanding customer needs and providing a customer-oriented view. The purpose of CRM is to create value for both the customer and company over time by providing good customer service to retain customers. While CRM faces challenges around data richness and consistency, its benefits include reduced costs, increased customer satisfaction, growth in customer numbers, and long-term profitability.

2. Customer
RELATIONSHIP
MANAGEMENT
Presented by
Paluru munesh

3. What is 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”

4. Origin Of CRM
• Customer relationship management was
originated in early 1970s
• CRM came as a process that dealt with
relationships with customers surpassing the
whole business
• As said by Father of management “The true
business of every company is to make and
keep customers”.

6. The Purpose Of CRM
• The focus [of CRM] is on creating value for the customer
and the company over the longer term.
• When customers value the customer service that they
receive from suppliers, they are less likely to look to
alternative suppliers for their needs .
• CRM enables organisations to gain competitive advantage
over competitors that supply similar products or services.

7. Customer Relationship
Management (CRM)
Traditional Marketing CRM
Goal: Expand customer base,
increase market share by mass
marketing
Goal: Establish a profitable, long-
term, one-to-one relationship with
customers; understanding their
needs, preferences, expectations
Product oriented view Customer oriented view
Mass marketing / mass production Mass customization, one-to-one
marketing
Standardization of customer needs Customer-supplier relationship
Transactional relationship Relational approach

8. Challenges in CRM
• Richness of customer data.
• Integrated view of customer information.
• Feedback mechanism from customer.
• Intelligence at operational touch points.
• Consistence of communication.
• Convenience of interacting with insurer.

9. Benefits of CRM
• 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

10. Foreign Companies Adopting CRM
& Many More….

11. Indian Companies adopting CRM
& Many More….