Customer Relationship Management

1. Customer Relationship
Management
(CRM)
Dr. Lalit K Jindal

2.  What is CRM?
CRM stands for customer
relationship management, or
the process of managing
interactions with existing and
prospective customers during
the sales process.

4.  Types Of CRM Systems
Operational CRM
Analytical CRM
Collaborative
Strategic

5.  Operational CRMs use automation and
data management to serve nearly every
aspect of your customer relation
strategies.
 You can use it to streamline
◦ sales efforts,
◦ marketing campaigns, and
◦ customer support.

6.  Analytical CRM
◦ collects data about its customer interactions,
 to increase customer
satisfaction and customer retention rates.
 Analytical CRM is a behind-the-scenes
process; the client is not aware of the
capture and analysis of their actions and
interactions with the company.
 Companies may forecast
◦ consumer behavior
◦ recommend goods

7. communication
between different
organizations related
to customer service.
Collaborative types of CRM
can include various
company divisions, such as
marketing, sales, customer
service, technical support,
external customers,
vendors, and distributors.
 What is Collaborative CRM?

8.  Collaborative CRM

9.  Strategic CRM
 Core customer-centric that aims at
winning and keeping profitable
customers.
 Steps:
◦ 1. Amplify Commitment
 Use Important Feedback for crafting the
strategies.
◦ 2. Build valuable project team
 Cross-functional teams
3. Requirement Analysis
Surveys
Market Research
Innovation
Partnership

10.  THREE PHASES OF CRM
Relationship Phases
1. Acquire
- New Customers
2. Enhance
- Responsive Team
work
3. Retain
- By rewarding the
loyal customers

11.  Benefits of CRM
 1. Personalization
◦ Relevant and personal marketing messages
◦ Recording data meticulously ; includes
 All interactions
 Demographics
◦ Age
◦ Income
◦ Lifestyle
 Buying History

12.  Benefits of CRM
2. Customer Retention
- Fulfilling promises
- By Automating the tasks
- By Setting the reminders
5% increment in customer retention lead to
25% increment in profits.
- After Sales
Communication

13.  Benefits of CRM
 3. Increased Productivity
◦ - By Integrating tools
 e- sign apps
 E-Mail
 Calender
- Software can populate forms with customer’s
information taken from CRM database to speed up
and simply e-signatures.
- Integration with email and calendar allows them
to see their scheduled appointments, customer
interactions, and sales pipelines in a single place.

14.  Benefits of CRM
 4. Enhanced Profitability
 Pinpointing and targeting
accounts of higher value
 Detecting and giving priority
to the most promising leads
 Boosting chances of closing
deals by increasing speed
 Shortening the sales cycle
through streaming the whole
process
 Identifying optimal marketing
campaigns, sales strategies,
and sales executives

15.  Benefits of CRM
 5. Saving Money & Time
(i)With Automation
 - Focus on core and value-
adding activities
(ii)Measuring KPIs
- Sales Process
- Ineffective Campaigns
- Unproductive Employees

16.  Benefits of CRM
 6. Compliance with Data
Security
◦ - Various checks
◦ - Privacy permissions
◦ - Encrypted Technology

17.  Benefits of CRM
 7. Simplified Collaboration
◦ - CRM uses Cloud-based Technology
 Accessibility
 - Optimal Solutions
 - Outstanding Service

19. Challenges
of
CRM

20.  Challenges of
CRM
 1. Siloed Data
◦ - Departments
use their
preferred Modules
◦ - Confusion State
b/w Sales Agent
& Service Agent

21. Challenges of CRM
 2. Data Entry
No time to
update the
information
on CRM

22. Challenges of CRM
 3. Handling Data Security
Robust Security
Features are
needed.

23. Challenges of CRM
 4. Time & Cost
(i)ROI
Analysis
(ii)Long-
Term
Plans

24. Challenges of CRM
 5. Lacking Scope Clarity
(i)Conduct
Workshops
and Trainings.
(ii) Adopt Agile
Project
Methodology.

25. Challenges of CRM
 6. Integration Issues
 Choose CRM
software that has
features of
integration with
the sales
process,
especially and
other processes.