CRM, subject notes as per the syllabus of Osmania university, this notes are very useful for the students pursuing any subject of customer relationship management courses, this can also be used by practitioners in the file of service sector
Mnm
13 Teams
__
Average talent teams that get along well with each other are more productive than gifted teams that don’t get along. It doesn’t matter how well a team with low emotional intelligence is in control of the numbers. They can’t even decide what to try to do.
14 Stress
___
Difficulties at work and in our relationships put us under stress. Stress makes it difficult for us to find solutions to problems. When we can’t find solutions to problems, we get more stressed. To get rid of this dead end, we need to know how to manage our stressful situations.
15 Marriage
____
The secret of long and happy marriages is sincerity in your feelings. If your marriage was not built on this basis of intimacy from the very beginning, it will begin to crack over the years. Even small problems become unsolvable. You have to be emotionally open at the beginning of the road.
16 Leadership
______
Leadership does not mean dominance. Leading your colleagues to a common goal and making them believe in the reality of this purpose. Successful leaders are those who can keep their team’s motivation alive for many years. You have to make them desire the work to be done.
17. Emotions Are All Normal
___
Anger, hatred, love, happiness… You can understand when and under what circumstances these feelings will emerge by following yourself. You may have these feelings depending on how you interpret the events you encounter. The important thing is to be able to react independently of your feelings. You may find yourself making promises that you cannot keep because you are happy, or you may resort to violence when you are angry.
18/ Being able to Express Your Emotions
____
Not everyone’s level of empathy can be very good. You may be in a difficult situation immediately. You may feel bad, but people may not understand it. In these situations, you may need to express your feelings a little more directly.
19/You Are Not Your Emotions
______
Keep doing what you need to do, no matter how you feel. Success is achieved by people who cannot give up no matter what their feelings and thoughts are. Don’t let your feelings affect your actions.
20/ Timing
__
As soon as you feel a different emotion, try to think before you act. Because emotional intelligence moves faster than rational intelligence, it can make you act irrationally and make you say any unnecessary words.
Thanks for reading
~ 𝗧𝗼𝗻𝗴𝘀𝗮 𝗚𝘂𝘆
Book:- https://amzn.to/3XsVTz2.
Mnm
13 Teams
__
Average talent teams that get along well with each other are more productive than gifted teams that don’t get along. It doesn’t matter how well a team with low emotional intelligence is in control of the numbers. They can’t even decide what to try to do.
14 Stress
___
Difficulties at work and in our relationships put us under stress. Stress makes it difficult for us to find solutions to problems. When we can’t find solutions to problems, we get more stressed. To get rid of this dead end, we need to know how to manage our stressful situations.
15 Marriage
____
The secret of long and happy marriages is sincerity in your feelings. If your marriage was not built on this basis of intimacy from the very beginning, it will begin to crack over the years. Even small problems become unsolvable. You have to be emotionally open at the beginning of the road.
16 Leadership
______
Leadership does not mean dominance. Leading your colleagues to a common goal and making them believe in the reality of this purpose. Successful leaders are those who can keep their team’s motivation alive for many years. You have to make them desire the work to be done.
17. Emotions Are All Normal
___
Anger, hatred, love, happiness… You can understand when and under what circumstances these feelings will emerge by following yourself. You may have these feelings depending on how you interpret the events you encounter. The important thing is to be able to react independently of your feelings. You may find yourself making promises that you cannot keep because you are happy, or you may resort to violence when you are angry.
18/ Being able to Express Your Emotions
____
Not everyone’s level of empathy can be very good. You may be in a difficult situation immediately. You may feel bad, but people may not understand it. In these situations, you may need to express your feelings a little more directly.
19/You Are Not Your Emotions
______
Keep doing what you need to do, no matter how you feel. Success is achieved by people who cannot give up no matter what their feelings and thoughts are. Don’t let your feelings affect your actions.
20/ Timing
__
As soon as you feel a different emotion, try to think before you act. Because emotional intelligence moves faster than rational intelligence, it can make you act irrationally and make you say any unnecessary words.
Thanks for reading
~ 𝗧𝗼𝗻𝗴𝘀𝗮 𝗚𝘂𝘆
Book:- https://amzn.to/3XsVTz2.
It is an approach to manage a company's interaction with current and potential customers. It uses data analysis about customers' history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.
Mmmmm
13 Teams
__
Average talent teams that get along well with each other are more productive than gifted teams that don’t get along. It doesn’t matter how well a team with low emotional intelligence is in control of the numbers. They can’t even decide what to try to do.
14 Stress
___
Difficulties at work and in our relationships put us under stress. Stress makes it difficult for us to find solutions to problems. When we can’t find solutions to problems, we get more stressed. To get rid of this dead end, we need to know how to manage our stressful situations.
15 Marriage
____
The secret of long and happy marriages is sincerity in your feelings. If your marriage was not built on this basis of intimacy from the very beginning, it will begin to crack over the years. Even small problems become unsolvable. You have to be emotionally open at the beginning of the road.
16 Leadership
______
Leadership does not mean dominance. Leading your colleagues to a common goal and making them believe in the reality of this purpose. Successful leaders are those who can keep their team’s motivation alive for many years. You have to make them desire the work to be done.
17. Emotions Are All Normal
___
Anger, hatred, love, happiness… You can understand when and under what circumstances these feelings will emerge by following yourself. You may have these feelings depending on how you interpret the events you encounter. The important thing is to be able to react independently of your feelings. You may find yourself making promises that you cannot keep because you are happy, or you may resort to violence when you are angry.
18/ Being able to Express Your Emotions
____
Not everyone’s level of empathy can be very good. You may be in a difficult situation immediately. You may feel bad, but people may not understand it. In these situations, you may need to express your feelings a little more directly.
19/You Are Not Your Emotions
______
Keep doing what you need to do, no matter how you feel. Success is achieved by people who cannot give up no matter what their feelings and thoughts are. Don’t let your feelings affect your actions.
20/ Timing
__
As soon as you feel a different emotion, try to think before you act. Because emotional intelligence moves faster than rational intelligence, it can make you act irrationally and make you say any unnecessary words.
Thanks for reading
~ 𝗧𝗼𝗻𝗴𝘀𝗮 𝗚𝘂𝘆
Book:- https://amzn.to/3XsVTz2.
13 Teams
__
Average talent teams that get along well with each other are more productive than gifted teams that don’t get along. It doesn’t matter how well a team with low emotional intelligence is in control of the numbers. They can’t even decide what to try to do.
14 Stress
___
Difficulties at work and in our relationships put us under stress. Stress makes it difficult for us to find solutions to problems. When we can’t find solutions to problems, we get more stressed. To get rid of this dead end, we need to know how to manage our stress
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”
EVOLUTION OF CUSTOMER RELATIONSHIP
CRM-Definition, emergence of CRM practice, factors responsible for CRM growth, CRM Process, framework of CRM, Benefits of CRM, Types of CRM, Scope of CRM, Customer Profitability, Future Trends in CRM, CRM and Cost-Benefit Analysis, CRM and Relationship Marketing, Customer Relationship Management Unit-1 IMBA Osmania University
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.
Social Observational ActivitySpend some time observing another.docxsamuel699872
Social Observational Activity
Spend some time observing another adult interacting with at least one other adult (at home, in a park, at the mall, at work, etc.) and reflect on the nonverbal cues and body language that they tend to use. What are they trying to “say” to the other person?
Locate scholarly materials to help support your accuracy of what the person’s body language and nonverbal communication is conveying (eye contact, posture, appearance, leaning in, facial expressions, artifacts [a uniform, etc.] gestures, etc.) Be descriptive in your analysis of all non-verbal communication that you identify and body language examples.
.
Your paper should be 2-3 pages in length. Include at least two scholarly references in addition to the course textbook to support your analysis and position.
Introduction of the specific topic
Customer Relationship Management
As a group, we will be explaining how customer relationship management is a customer-focused and customer-driven organizational strategy. Elaborate on how modern CRM systems can build sustainable long-term customer relationships that can create value for both companies and their customers. In addition, to helping many companies acquire new customers while also retaining and expanding their relationships with advantageous existing customers. Overall, this topic is an approach to manage a company’s interaction with current and potential customers. It uses data analysis about customers history with a company to improve business relationships with customers. It specifically focuses on customer retention and driving sales growth. The reason this is important and relevant to our class is because businesses data is used to see what customers like and don’t like. Businesses use this because sales tend to improve overall when they use CRM.
Tentative milestone/schedule of the project.
Introduction
Customer relationship management is very commonly referred to as CRM within the business world. It is perceived as both a customer-driven and customer-focused strategy that in part is used to aid the communication between businesses and their customers (Rainer & Prince, 2020). It does in fact also contribute a great deal to many businesses marketing tactics and more specifically allowing them to focus on customers individually. Then, providing them with the proper information needed to meet their individual customer’s needs and desires, which in essence contributes to creating a customer intimacy that so many businesses lack today. With living in a very digital and internet driven world today, customer relationship management has been able to really fill a void that has unintentionally been created by the Internet because of how impersonal it has made what used to be in-person experiences, now digitized.
The process in which customer relationship management is utilized, is by employing information technologies through numerous systems and applications. It is a technology used to manag.
Social Observational ActivitySpend some time observing another.docxrosemariebrayshaw
Social Observational Activity
Spend some time observing another adult interacting with at least one other adult (at home, in a park, at the mall, at work, etc.) and reflect on the nonverbal cues and body language that they tend to use. What are they trying to “say” to the other person?
Locate scholarly materials to help support your accuracy of what the person’s body language and nonverbal communication is conveying (eye contact, posture, appearance, leaning in, facial expressions, artifacts [a uniform, etc.] gestures, etc.) Be descriptive in your analysis of all non-verbal communication that you identify and body language examples.
.
Your paper should be 2-3 pages in length. Include at least two scholarly references in addition to the course textbook to support your analysis and position.
Introduction of the specific topic
Customer Relationship Management
As a group, we will be explaining how customer relationship management is a customer-focused and customer-driven organizational strategy. Elaborate on how modern CRM systems can build sustainable long-term customer relationships that can create value for both companies and their customers. In addition, to helping many companies acquire new customers while also retaining and expanding their relationships with advantageous existing customers. Overall, this topic is an approach to manage a company’s interaction with current and potential customers. It uses data analysis about customers history with a company to improve business relationships with customers. It specifically focuses on customer retention and driving sales growth. The reason this is important and relevant to our class is because businesses data is used to see what customers like and don’t like. Businesses use this because sales tend to improve overall when they use CRM.
Tentative milestone/schedule of the project.
Introduction
Customer relationship management is very commonly referred to as CRM within the business world. It is perceived as both a customer-driven and customer-focused strategy that in part is used to aid the communication between businesses and their customers (Rainer & Prince, 2020). It does in fact also contribute a great deal to many businesses marketing tactics and more specifically allowing them to focus on customers individually. Then, providing them with the proper information needed to meet their individual customer’s needs and desires, which in essence contributes to creating a customer intimacy that so many businesses lack today. With living in a very digital and internet driven world today, customer relationship management has been able to really fill a void that has unintentionally been created by the Internet because of how impersonal it has made what used to be in-person experiences, now digitized.
The process in which customer relationship management is utilized, is by employing information technologies through numerous systems and applications. It is a technology used to manag.
Introduction to e-commerce and its evolution, Globalization and the digital economy, Benefits and challenges of e-global business, Global market entry strategies, Digital transformation and its impact on global business, Evolution of online marketplaces and their role in e-global business, The role of technology and innovation in driving e-commerce growth, Regulatory and legal frameworks governing e-global business, The role of artificial intelligence (AI) and automation in e-global business, Digital entrepreneurship and the emergence of startups in the digital space, Cybersecurity challenges in e-global business and methods for protection, The impact of social media on global business and customer engagement.
Types of e-business models (B2C, B2B, C2C, etc.), E-marketplaces and online platforms- Digital marketing and customer relationship management- Payment systems and security in e-global business- Subscription-based business models and recurring revenue strategies- Influencer marketing and its effectiveness in e-commerce, Collaborative consumption and its impact on e-global business-Influencer selection and management strategies for effective digital marketing, Strategies for building and managing online communities to drive customer loyalty.
Supply chain management in a digital environment- Logistics and fulfilment in e-commerce- International trade and legal considerations- Cross-cultural management and customer service- Reverse logistics and managing returns in e-global business- Intellectual property rights and protection in digital transactions, Customer data privacy and compliance with data protection regulations- Cloud computing and its role in supporting scalable and flexible e- commerce operations- Supply chain sustainability and responsible sourcing in e-global business- Risk management in e-global business operations.
Developing an e-global business strategy- E-marketing and online advertising- Data analytics and business intelligence- Social media and online reputation management- Personalization and customization strategies in e-commerce- Competitive analysis and benchmarking in the digital marketplace- Personalization through machine learning and recommendation systems- Social commerce and the integration of e-commerce with social media platforms- Voice search optimization and its impact on e-commerce websites.
Mobile commerce and the rise of m-commerce, Artificial intelligence and machine learning in e-commerce, Blockchain technology and its applications, Ethical and sustainability issues in e-global business, Voice commerce and the impact of smart speakers on e-commerce- (VR) in enhancing online shopping experiences, Cryptocurrencies and their potential for transforming global Bus
PPT on how to chose electives in MBA-Final year, This information is very much help full for all those who are confused about selecting specializations in MBA-final year. It is applicable for the students of any university across the globe, It highlights the basis and criteria for selecting any one of the four electives offered by Osmania University -Hyderabad.
This PPT explains about four electives,
1. Criteria to chose HR as elective
2. Criteria to chose IT as elective
3. Criteria to chose Fin as elective
4. Criteria to chose Mkg as elective.
I am sure this PPT will provide quality information for all the students who are about to opt any electives in MBA-Final year. These PPT are not the only source of information to take the decision, the students must research on the domain areas also, regarding internship opportunities in the subject they are selecting, jobs in the market, starting salary range, work life balance, Local or non local jobs etc.
PPT for the subject of International Business prepared as per the syllabus of Osmania University-Hyderabad INDIA
This is very much useful for the students of the MBA program across all universities throughout the world
Complete notes as per the syllabus of Osmania University - MBA regular -full time, this notes will be helpful for all the students pursuing any marketing related course in any univeristy like principles of marketing, basics of marketing etc
A study on understanding the concept of demonetization with reference to MBA ...Syed Valiullah Bakhtiyari
This research is fully based on primary data and it has been collected first hand by the researcher itself, since the respondents were students pursuing master's in business administration it becomes very interesting to know the new age jargon of demonetization.
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
Customer Relationship Management
1. Dr. Bakhtiyari/CRM Page 1
MAM-VI-Semester
CRM - Customer Relationship Management
Unit-I
CRM or Customer Relationship Management is a strategy for managing an organisation's
relationships and interactions with customers and potential customers. A CRM system helps
companies stay connected to customers, streamline processes, and improve profitability.
CRM as Technology: This is a technology product, often in the cloud, that teams use to
record, report and analyse interactions between the company and users. This is also called
a CRM system or solution.
CRM as a Strategy: This is a business’ philosophy about how relationships with customers
and potential customers should be managed
CRM as a Process: Think of this as a system a business adopts to nurture and manage those
relationships.
CRM enables a business to deepen its relationships with customers, service users, colleagues,
partners and suppliers.
Forging good relationships and keeping track of prospects and customers is crucial for
customer acquisition and retention, which is at the heart of a CRM’s function. You can see
everything in one place — a simple, customizable dashboard that can tell you a customer’s
previous history with you, the status of their orders, any outstanding customer service issues,
and more.
Gartner predicts that by 2021, CRM technology will be the single largest revenue area of
spending in enterprise software. If your business is going to last, you know that you need a
strategy for the future. For forward-thinking businesses, CRM is the framework for that
strategy.
The benefits and advantages of CRM include:
1. Enhanced contact management
2. Cross-team collaboration
3. Heightened productivity
2. Dr. Bakhtiyari/CRM Page 2
4. Empowered sales management
5. Accurate sales forecasting
6. Reliable reporting
7. Improved sales metrics
8. Increased customer satisfaction and retention
9. Boosted marketing ROI
10. Enriched products and services
What are the types of CRM?
1. Operational. This type of CRM is for lead generation and conversion. It integrates and
automates sales, marketing and service support, hence information on a customer typically
includes past sales, previous marketing efforts, service issues (if any) and others. Operational
CRM consists of Sales automation, Marketing automation and Service automation.
Sales force automation –it involves using of software to automate the sales activities
including orders, deliveries, tracking, forecasting and control of sales force etc. helps
to automate sales process in all the stages of a sales cycle with the purpose of setting a
standard to gain new customers and handle existing ones. It analyses sales promotion,
automates tracking of client account history, and coordinates sales, marketing, call
centers, and retail outlets.
Marketing Automation – it involves use of software for improving the marketing of
products by means of promotion through various channels mainly online forms
focuses on facilitating the marketing process to make it more efficient and effective. It
automates repeated tasks such as sending marketing emails or posting marketing
information on various channels of engagement. Its goal is to find out the best way to
offer products and approach potential customers in order o convert a sales lead into a
full customer.
Service automation – using of software to automate the services including the
service deliver and customer feedback, like uber services are automated allows
business to retain customers by providing best quality service. It covers service
automation of customer support which includes issue management, customer call
management (for incoming/outgoing calls) and service quality management based on
KPIs.
3. Dr. Bakhtiyari/CRM Page 3
2. Analytical. Its main function is to analyze customer data collected through multiple
sources in order to help top management, marketing, sales and support departments get better
insights on how to improve customer service and experience. This CRM type employs data
mining, pattern recognition and correlation techniques to analyze customer data and help key
corporate people in the making of informed decisions, determining campaign effectiveness,
and improving sales support.
3. Collaborative. As the term implies, this type enables a business organization to share
customers’ information with external stakeholders such as vendors, suppliers and distributors
so that they would be on the same page with various business units like sales team, marketing
team, technical and support team. Uniting all these groups through common customer
information allows the crafting of more effective, customer specific, targeted campaigns.
A framework for customer relationship management.
Customer relationship management (CRM) is a system for managing a company's
interactions with current and future customers. It often involves using technology to organize,
automate and synchronize, sales, marketing, customer service and technical support.
Customer profitability (CP) is the profit the firm makes from serving a customer or
customer group over a specified period of time, specifically the difference between
the revenues earned from and the costs associated with the customer relationship in a
4. Dr. Bakhtiyari/CRM Page 4
specified period. According to Philip Kotler,"a profitable customer is a person, household or
a company that overtime, yields a revenue stream that exceeds by an acceptable amount the
company's cost stream of attracting, selling and servicing the customer."
Calculating customer profit is an important step in understanding which customer
relationships are better than others. Often, the firm will find that some customer relationships
are unprofitable. The firm may be better off (more profitable) without these customers. At the
other end, the firm will identify its most profitable customers and be in a position to take
steps to ensure the continuation of these most profitable relationships. However, abandoning
customers is a sensitive practice, and a business should always consider the public relations
consequences of such actions
Relationship marketing was first defined as a form of marketing developed from direct
response marketing campaigns which emphasizes customer retention and satisfaction rather
than a focus on sales transactions.
Relationship marketing differs from other forms of marketing in that it recognizes the long
term value of customer relationships and extends communication beyond intrusive
advertising and sales promotional messages.
With the growth of the internet and mobile platforms, relationship marketing has continued to
evolve as technology opens more collaborative and social communication channels. This
includes tools for managing relationships with customers that goes beyond demographic and
customer service data. Relationship marketing extends to include inbound marketing efforts,
(a combination of search optimization and strategic content), PR, social media and
application development
II Unit
Customer Value
Customer Value is the incremental benefit which a customer derives from consuming a
product after paying in return. The term value signifies the benefits that a customer gets from
a product. It is the difference between the benefits (sum of tangible and intangible benefits)
and the cost. Customer value is dependent on the three factors – Quality, Service and Price.
Hence, these three together form the ‘Customer Value Triad’. The value of a product
increases with its quality and service, as the benefits increase. On the other hand, the value
decreases with increase in price because of the increase in costs increase in this case.
5. Dr. Bakhtiyari/CRM Page 5
Customer value determinants are
1. Quality
2. Price
3. Service
4. Marketing/Branding
5. Social Influence
6. Past Experience with the product
Customer Expectations
Customer expectations refers to the perceived value or benefits that the customers seek when
purchasing a good or availing a service. They are the result of the ‘learning’ process and can
be formed very quickly because even first impressions matter a lot. Once established, these
expectations can hold significant influence in decision-making processes and can be very
hard to change.
1. Explicit Expectations
Explicit expectations are mental targets for product performance, such as well-identified
performance standards
2. Implicit Expectations
Implicit expectations reflect established norms of performance. Implicit expectations are
established by business in general, other companies, industries, and even cultures.
3. Dynamic Performance Expectations
Dynamic performance customer expectations are about how the product or service is
expected to evolve over time. Dynamic expectations may be about the changes in support,
product, or service needed to meet future business or use environments.
4. Technological Expectations
Technological customer expectations focus on the evolving state of the product category. For
example, mobile phones are continually evolving, leading to higher expectations of new
features
6. Dr. Bakhtiyari/CRM Page 6
5. Interpersonal Expectations
Interpersonal customer expectations reflect the relationship between the customer and the
product or service provider.
Customer satisfaction A ‘person’s feeling of pleasure or disappointment which resulted from
comparing a product’s attribute with his own perceptions
ZEITHMAL MODEL
Customer centric: It is a strategy
Creating a positive consumer experience at the point of sale and post-sale. A customer-centric
approach can add value to a company by enabling it to differentiate itself from competitors
who do not offer the same experience. Customer centric is a way of doing business with your
customer in a way that provides a positive customer experience before and after the sale in
order to drive repeat business, customer loyalty and profits.
7. Dr. Bakhtiyari/CRM Page 7
Customer acquisition The process of persuading a consumer to purchase a company's
goods or services. The cost associated with the important customer acquisition process is an
important measure for a business to evaluate in combination with how much value having
each customer typically brings to the business. Customer acquisition is the process of
bringing new customers to your brand. This typically is done through marketing, and one of
the goals is to maintain a consistent influx of new customers.
All forms of advertising and marketing are designed to attract people to a product or service
with the hope that they will eventually become brand loyalists. Above-the-line advertising,
such as billboards television and radio spots, posters, print advertisements and cinema spots
do a great job of getting a brand in front of millions of eyes, but they rarely close a sale or
include methods to track customer conversion. COCA, or cost of customer acquisition
Above the line ads : Mass media usage
Below the line ads : Medium other than mass media, may direct mail, direct call or etc
Through the line ads : Using both these methods justifiably
Customer retention
Customer retention refers to the activities and actions companies and organizations take to
reduce the number of customer defections. The goal of customer retention programs is to help
companies retain as many customers as possible, often through customer loyalty and brand
loyalty initiatives, stages for implementing customer retention
8. Dr. Bakhtiyari/CRM Page 8
Set customer expectations – Set customer expectations early
Become the customers’ trusted advisor – You need to be the expert in your particular
field, so that you can gain customers’ trust and build customer loyalty.
Use relationships to build trust. Make it personal
Take a proactive approach to customer service
Use social media to build relationships.
Go the extra mile – Going above and beyond will build strong relationships.
Customer loyalty is the result of consistently positive emotional experience, physical
attribute-based satisfaction and perceived value of an experience, which includes the product
or services. Consider who you yourself are loyal to. Surely you'll answer family and friends.
The goal of establishing customer loyalty is to transform a company's one-
time customers into regular customers. Customers should always return to their preferred
company and a strong sense of company loyalty prevents them from changing to
another brand or supplier. Customer loyalty is both an attitudinal and behavioural tendency
to favour one brand over all others, whether due to satisfaction with the product or service, its
convenience or performance, or simply familiarity and comfort with the brand. Customer
loyalty encourages consumers to shop more consistently, spend a greater share of wallet,
helping attract consumers to familiar brands in the face of a competitive environment
Customer lifetime value (CLV) is a metric that represents the total net profit a company
makes from any given customer. CLV is a projection to estimate a customer's monetary
worth to a business after factoring in the value of the relationship with a customer over time
9. Dr. Bakhtiyari/CRM Page 9
Customer experience management
Customer experience management (CEM) or (CXM) as “the practice of designing and
reacting to customer interactions to meet or exceed customer expectations and, thus, increase
customer satisfaction, loyalty and advocacy.” It is a strategy that requires process change and
many technologies to accomplish.
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Customer profitability
Customer profitability focuses on the profitability of a specific customer. How much revenue
do they bring in? How much time, resources, etc. do they require from your company By
calculating the profitability of each customer, you have some great business insights
on productivity, resource allocation, etc.
Enterprise marketing management (EMM) defines a category of software used by
marketing operations to manage their end-to-end internal processes. EMM is subset of
Marketing Technologies which consists of a total of 3 key technology types that allow for
corporations and customers to participate in a holistic and real-time marketing campaign.
EMM can also be called Marketing Operations Management (MOM) or Marketing Resource
Management (MRM). EMM consists of other marketing software categories such as Web
Analytics, Campaign Management, Digital Asset Management, Web Content Management,
Marketing Resource Management, Marketing Dashboards, Lead Management, Event-driven
Marketing, Predictive Modelling and more. The goal of deploying and using EMM is to
improve both the efficiency and effectiveness of marketing by increasing operational
efficiency
A web content management system (WCM or WCMS) is a software content management
system (CMS) specifically for web content. It provides website authoring, collaboration, and
administration tools that help users with little knowledge of web programming languages
or mark-up languages create and manage website content. A WCMS provides the foundation
for collaboration, providing users the ability to manage documents and output for multiple
author editing and participation. Most systems use a content repository or a database to store
page content, metadata and other information assets the system needs.
Web based customer support is a range of customer services to assist customers in making
cost effective and correct use of a product. It includes assistance in planning, installation,
training, troubleshooting, maintenance, upgrading, and disposal of a product. Regarding
technology products such as mobile phones, televisions, computers, software products or
other electronic or mechanical goods, it is termed technical support. Customer support is
considered as one of the main data channels for customer satisfaction research and a way to
increase customer retention
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Unit-III
Process of customer centricity
centric process management is:
Define the centricity process
Establish the metrics for customers by customers
Measure the overall performance
Analyse the sustainability
Improve on goals and audit the performance
Implement any improvements if any
Setting CRM objectives
In order to set the objectives , the organisation will follow the strategy which is called as
SMART –Strategy
Specific (simple, sensible, significant).
Measurable (meaningful, motivating).
Achievable (agreed, attainable).
Relevant (reasonable, realistic and resourced, results-based).
Time bound (time-based, time limited, time/cost limited, timely, time-sensitive).
Data requirement for CRM
Customer contact management
Account management
Reports
Case management
Knowledge base chat
Workflow statements
Email marketing integration
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Desired output in CRM
1. CRM software will help your organisation to maintain and improve relationship with
the customers by providing them with better services through enhanced understanding
of their needs and wants.
2. CRM must help in acquiring potential new customers
3. It improves the internal communication within your organisation by linking the
various functional areas
4. Increase of sales and revenues
5. Core competency through customer centric approach
6. Customer retention
7. Customer referrals
8. Empowerment of internal customers
Issues in planning CRM Output (CRM Challenges)
Achieving User Adoption User Adoption is the key to success for any CRM. It is
important to design effective training programs in order to provide an understanding
to end-users for them to be able to effectively use the system.
Managing the application
Process, Clearly defined processes and their enforcement are critical to the success of
any CRM rollout
Finding the Right Partner The results of CRM success go up considerably with the
right solution partner.
Changing old habits
Data importing
Integrations
Special requirements
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Components of Customer Relationship Management and strategy
1. Sales Force Automation
It is the most essential components of customer relationship management. This is one such
component that is undertaken by the maximum business organizations. It includes
forecasting, recording sales processing as well as keeping a track of the potential interactions.
2.Human Resource Management
Human Resource Management involves the effective and correct use of human resource and
skills at the specific moment of truth and service encounter
3.Lead Management
It refers to keeping the track of the sales leads as well as their distribution. The business that
are benefitted by this component of CRM the most are the sales industries, marketing firms
and customer executive centres. It involves an efficient management of the campaigns,
designing customized forms, finalizing the mailing lists and several other elements.
4.Customer Service
Customer Relationship Management emphasizes on collecting customer information and
data, their purchase information and patterns as well as involves providing the collected
information to the necessary and concerned departments.
5.Marketing
Marketing is one of the most significant component of Customer Relationship Management
and it refers to the promotional activities that are adopted by a company in order to promote
their products.
6.Workflow Automation
A number of processes run simultaneously when it comes to the management and this
requires an efficient cost cutting as well as the streamlining of all the processes.
7.Business Reporting
CRM comes with a management of sales, customer care reports and marketing. The customer
care reports assist the executives of a company to gain an insight into their daily work
management and operations.
8.Analytics
Analytics is the process of studying and representing the data in order to observe the trends in
the market. Creating graphical representations of the data in the form of histograms, charts,
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figures and diagrams utilizing the current data as well as the one generated in the past is
essential to achieve a detailed understanding and study of the trends.
Customer strategy Grid
This is basically a model and a frame which explains about the various components to be
considered for developing and creating effective customer strategy it consist of 7 elements
which are as follows
1. Staff training and development
2. Service culture
3. Performance measurement
4. Process and execution
5. Technological software
6. Structure and roles of employees
7. Facilities and work environment
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Unit – IV
CRM –Marketing initiatives
These are the measures and objectives focused by CRM in order to obtain customer retention
and customer life time value, the following are some of the initiatives which must be taken up
by CRM in order to obtained competitive and continuous improvement
Sales force automation
Abbreviated SFA, sales force automation is a technique of using software to automate the
business tasks of sales, including order processing, contact management, information sharing,
inventory monitoring and control, order tracking, customer management, sales forecast
analysis and employee performance evaluation
Features of sales force automation
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Campaign Management
It is defined as the planning, execution, tracking, and analysis of a marketing initiative;
sometimes cantered around a new product launch or an event. Campaigns normally involve
multiple pushes to potential buyers through email, social media, surveys, print materials,
giveaways, etc. Your customers' requirements are the focus of your campaign process.
Campaign management plays a central role in (CRM). The campaign process consists of
three central phases: planning, management and analysis.
Characteristics of good campaign
Six features which are important
Structured communication
Credibility
Aligned climate
Target opinion leaders
Commonplace interesting
Positive messages
Call centre
It is a centralised office used for receiving or transmitting a large volume of enquiries by
telephone. An inbound call centre is operated by a company to administer incoming
product or service support or information enquiries from consumer. It works as a vocal
communication channel that customers use to report requests or complaints to a business.
The three major classifications of call centres are inbound, outbound, and automated.
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Businesses use these three types of call centres for various product or service needs that
require an increased amount of customer service
CRM in consumer Market
One of the common uses of customer relationship management (CRM) in consumer markets
is to rank customers on profitability or lifetime value measures. ... Given the commoditized
nature of many markets today, does customer relationship management—and its associated
focus on quality, value, and satisfaction. The whole concept of CRM is directed towards the
attainment of consumer satisfaction which in turn helps the management in customer
retention which the strategic objective of any CRM
CRM in Service Sector
CRM has benefits for multiple business sectors. Both can use the CRM data to keep track of
clients and potential clients, learning when and how to deliver messages to each. However,
CRM support for customer service has a primary role because customer service blends
marketing, sales, support, and retention efforts. In order to deliver customer satisfaction the
most significant element needed is service, hence CRM plays very important role in service
sector
CRM in Mass Market
The implementation of CRM in a Mass marketing concept is always a challenge because the
CRM tries to provide customisation and individualization where as the Mass marketing
depends on the approach of One product for all. CRM-in mass market is a term referring to
the strategies and tactics, as well as to the technologies supporting the execution of said
strategies and tactics, marketers use this for managing the relationship with their customers
throughout the customer lifecycle
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CRM in the manufacturing
The use of CRM in manufacturing sector can give useful insights about operations, inventory
management, order processing, warehousing and distribution chains. Having an intelligent
supply chain can deliver phenomenal results as it empowers firms to manage production
schedules. Companies are leveraging CRM for Manufacturing Industry to streamline their
business processes and deliver unparalleled customer service. Reasons for using CRM
Accurate Demand Forecasting. ...
Improved Product Quality. ...
Intelligent Supply Chain. ...
Enrichment of Customer Relationships. ...
More Business Won.
Expansion of business by word of mouth, Creating brand value and image
Unit – V
Issues and Problems in implementing CRM
1: Convincing Your People to Change
2: Getting Approval from Management
3: Handling Data Security
4: Leaving Favoured Programs and Software Behind
5: Dealing with the Time and Cost of CRM
6: Trusting the Technology
7: Choosing the Wrong CRM
8: Lacking Scope Clarity
9: Managing Integrations
The CRM implementation road map
A CRM Roadmap is a strategic plan that identifies how an organization can meet and exceed
its customers' needs. This includes, but is not limited to, assessing how the sales, marketing
and service entities work together to gain insight from their customers (e.g. purchase history,
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desired products/services), produce valuable offerings/products (e.g. personalized product)
and provide the ultimate customer experience
Performance Measurement CRM –Metric
The three departments that are most associated with the influence of CRM systems utilise a
whole range of different operational metrics to measure their related performance. By
department, these include:
Sales
Number of prospects
Number of new customers
Number of retained customers
Close rate
Renewal rate
Number of sales calls made
Number of sales calls per opportunity
Amount of new revenue
Number of open opportunities
Sales stage duration
Sales cycle duration
Number of proposals given
Marketing
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Number of campaigns
Number of campaign responses
Number of campaign purchases
Revenue generated by campaign
Number of new customers acquired by campaign
Number of customer referrals
Number of web page views
User goal completion rate on the web
Time per website visit
Customer lifetime value
Cross-sell ration
Up-sell ratio
Email list growth rate
Service
Number of cases handled
Number of cases closed the same day
Average time to resolution
Average number of service calls per day
Complaint time to resolution
Number of customer call backs
Average service cost per service interaction
Percentage compliance with SLAs
Calls lost before being answered
Beside the above metrics , the following are the five most important METRICS which are
used for measuring the performance of CRM
CAC (Customer Acquisition Cost) This metric tells you your price per lead and helps
you estimate the total spend for your lead generation efforts.
Customer Lifetime Value (CLV) ...
Length of Sales Cycle. ...
Percentage of Marketing-Originated Customers. .
Time to Recoup Customer Acquisition Cost.