This document provides an overview of customer relationship marketing (CRM). It defines CRM as a business process focused on building customer loyalty and brand value through marketing strategies. The document outlines the evolution of CRM from a transactional focus in earlier periods to a relationship focus today. It discusses frameworks for implementing CRM, including segmenting customers, developing relationship marketing strategies and programs, and measuring customer satisfaction and retention. The document also provides case studies on CRM practices of Volkswagen India and relationship marketing benefits for the Sheraton Suites hotel.
Theories of retailing, theories of retail development,
Retail Life Cycle, Environmental Theory, Cyclical Theory - Wheel of retailing, phases of retail development, Accordion theory
CRM is a competitive strategy and process of acquiring, reacting and partnering with selective customers to create superior value for the company and the customer.
Retail Management Notes, Basics of Retail Management, Classification of Retailers, Types of Retailers, Scope of Retailing, Functions of Retailers, Role of Retailers in Distribution Channel, Indian retailscape, organized and Unorganized Retailers,
Theories of retailing, theories of retail development,
Retail Life Cycle, Environmental Theory, Cyclical Theory - Wheel of retailing, phases of retail development, Accordion theory
CRM is a competitive strategy and process of acquiring, reacting and partnering with selective customers to create superior value for the company and the customer.
Retail Management Notes, Basics of Retail Management, Classification of Retailers, Types of Retailers, Scope of Retailing, Functions of Retailers, Role of Retailers in Distribution Channel, Indian retailscape, organized and Unorganized Retailers,
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.”
Customer relationship management (CRM) is a technology for managing all your company’s relationships and interactions with customers and potential customers. The goal is simple: Improve business relationships. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.
When people talk about CRM, they are usually referring to a CRM system, a tool that helps with contact management, sales management, productivity, and more.
A CRM solution helps you focus on your organization’s relationships with individual people — including customers, service users, colleagues, or suppliers — throughout your lifecycle with them, including finding new customers, winning their business, and providing support and additional services throughout the relationship.
Notes
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.
INVENTORY MANAGEMENT CASE STUDY :Maruti udyog limited(mul) ii ravneetubs
INVENTORY MANAGEMENT CASE STUDY :Maruti udyog limited(mul)
The raw material consumption cost was 75-83% of net sales. Therefore the company has been paying special attention to its inventory management.
Around 70% of the firm’s components are outsourced.
Average inventory turnover ratio of the company increased from 11.9 (in 2005-06) to 13.9 (in 2006-07).
The company has undertaken various initiatives to improve it’s inventory management because of which there has been an increase in its average inventory turnover ratio over the years.
SEO as the Backbone of Digital MarketingFelipe Bazon
In this talk Felipe Bazon will share how him and his team at Hedgehog Digital share our journey of making C-Levels alike, specially CMOS realize that SEO is the backbone of digital marketing by showing how SEO can contribute to brand awareness, reputation and authority and above all how to use SEO to create more robust global marketing strategies.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
It's another new era of digital and marketers are faced with making big bets on their digital strategy. If you are looking at modernizing your tech stack to support your digital evolution, there are a few can't miss (often overlooked) areas that should be part of every conversation. We'll cover setting your vision, avoiding siloes, adding a democratized approach to data strategy, localization, creating critical governance requirements and more. Attendees will walk away with actions they can take into initiatives they are running today and consider for the future.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
Short video marketing has sweeped the nation and is the fastest way to build an online brand on social media in 2024. In this session you will learn:- What is short video marketing- Which platforms work best for your business- Content strategies that are on brand for your business- How to sell organically without paying for ads.
Digital Money Maker Club – von Gunnar Kessler digital.focsh890
Title One is a comprehensive examination of the impact of digital technologies on
modern society. In a world where technology continues to advance rapidly, this article delves into the nuances and complexities of the digital age, exploring Its implications across various sectors and aspects of life.
Search Engine Marketing - Competitor and Keyword researchETMARK ACADEMY
Over 2 Trillion searches are made per day in Google search, which means there are more than 2 Trillion visits happening across the websites of the world wide web.
People search various questions, phrases or words. But some words and phrases are searched
more often than others.
For example, the words, ‘running shoes’ are searched more often than ‘best road running
shoes for men’
These words or phrases which people use to search on Google are called Keywords.
Some keywords are searched more often than others. Number of times a keyword is searched
for in a month is called keyword volume.
Some keywords have more relevant results than others. For the phrase “running shoes” we
get more than 80M relevant results, whereas for “best road running shoes for men” we get
only 8.
The former keyword ‘running shoes’ has way more competition from popular websites to
new and small blogs, whereas the latter keyword doesn’t have that much competition. This
search competition for a keyword is called search difficulty of a keyword or keyword
difficulty.
In other words, if the keyword difficulty is ‘low’ or ‘easy’, there won’t be any competition
and if you target such keywords on your site, you can easily rank on the front page of Google.
Some keywords are searched for, just to know or to learn some information about something,
that’s their search intention. For example, “What shoe size should I choose?” or “How to pick
the right shoe size?”
These keywords which are searched just to know about stuff are called informational
keywords. Typically people who are searching this type of keywords are top of a Conversion
funnel.
Conversion funnel is the journey that search visitors go through on their way to an email
subscription or a premium subscription to the services you offer or a purchase of products
you sell or recommend using your referral link.
For some buyers, research is the most important part when they have to buy a product.
Depending on that, their journey either widens or narrows down. These types of buyers are
Researchers and they spend more time with informational keywords.
Conversion is the action you want from your search visitors. Number of conversions that you
get for every 100 search visitors is called Conversion rate.
People who are at different stages of a conversion funnel use different types of keywords.
AI-Powered Personalization: Principles, Use Cases, and Its Impact on CROVWO
In today’s era of AI, personalization is more than just a trend—it’s a fundamental strategy that unlocks numerous opportunities.
When done effectively, personalization builds trust, loyalty, and satisfaction among your users—key factors for business success. However, relying solely on AI capabilities isn’t enough. You need to anchor your approach in solid principles, understand your users’ context, and master the art of persuasion.
Join us as Sarjak Patel and Naitry Saggu from 3rd Eye Consulting unveil a transformative framework. This approach seamlessly integrates your unique context, consumer insights, and conversion goals, paving the way for unparalleled success in personalization.
10 Video Ideas Any Business Can Make RIGHT NOW!
You'll never draw a blank again on what kind of video to make for your business. Go beyond the basic categories and truly reimagine a brand new advanced way to brainstorm video content creation. During this masterclass you'll be challenged to think creatively and outside of the box and view your videos through lenses you may have never thought of previously. It's guaranteed that you'll leave with more than 10 video ideas, but I like to under-promise and over-deliver. Don't miss this session.
Key Takeaways:
How to use the Video Matrix
How to use additional "Lenses"
Where to source original video ideas
The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives.
Key Takeaways:
Understand how search engines work
Be able to find out where your users search
Know what is required for each discipline of SEO
Feel confident creating an SEO Plan
Confidently measure SEO performance
SEO Master Class - Steve Wiideman, Wiideman Consulting Group
Customer relationship marketing
1. Submitted To – Submitted By -
Dr. Smriti Sood Ravneet Kaur
Swati Sharma
Vikas Dhiman
Vishal Vivek
2. Agenda
What is CRM?
Evolution
Transaction Marketing Vs. Relationship Marketing
The “Bucket Theory Of Marketing”
Basis of CRM
Goals Of Relationship Marketing
The Customer Pyramid
Segmenting Customers
Different Levels of Relationship Marketing
Relationship Marketing and the 4Ps
Framework For Customer Relationship Marketing
Relationship Marketing Strategies and Programs
Case Study
Benefits and Disadvantages of Relationship Marketing
Conclusion
Precautions
References
5. Customer Relationship Marketing
Customer Relationship Marketing (CRM) is a business
process in which client relationships, customer loyalty and
brand value are built through marketing strategies and
activities.
CRM allows businesses to develop long-term relationships
with established and new customers while helping
streamline corporate performance.
It is the process of carefully managing detailed information
about individual customers and all customer “touch
points” to maximise loyalty.
6. What are these touch points?
Any occasion on which the
customer encounters the
brand or the product
• Actual experience to
personal
• Mass communication
to casual observation
EXAMPLE:
Guess the touchpoints in a
hotel?
7. Evolution of Customers Relationship
Marketing
Period Focus area
1950’s Customer Good Marketing
1960’s Industrial Goods Marketing
1970’s Marketing of Non-Profit
Organization or Societal
Marketing
1980’s Services Marketing
1990’s Customers Relations Marketing
8. HOW TO GO ABOUT CUSTOMER
RELATIONSHIP MANAGEMENT
PERSONALIZING MARKETING
An increasingly important ingredient here is of using the
right technology.
Companies are using the following to foster continuous
contact between company and the customers:
• E-mails
• Websites
• Call centres
• Databases
• Social media is a powerful tool in CRM
9. WHAT IS A MARKETER TRYING TO ACHIEVE
THROUGH PERSONLISED MARKETING
He is making sure that the brand and its marketing are
as relevant as possible to as many customers as possible
Excellent example of personlised marketing and pure
CRM:
RURAL MARKETS
Companies that have learned and adapted from rural
markets:
10. Transaction Marketing Vs. Relationship
Marketing
In 1990’s the concept of Relationship Marketing emerged
strongly but the focus now has been changed from
Transaction Marketing to Relationship Marketing as shown
below:
Transaction marketing Relationship marketing
Focus on Single sale Focus on customers retention
Orientation on product features Orientation on product benefits
Little emphasis on Customers
Service
High emphasis on customer
service emphasis
Limited customer commitment High customer commitment
11. The “Bucket Theory Of Marketing”
Define and measure retention rate
Distinguish the causes of customer attrition and identify
those that can be managed better.
Compare the lost customers’ lifetime value to the costs
of reducing defection rate.
12. Relationship Management
Move from a ‘transactional’ model of marketing to a
‘relationship’ model
Advocate
Supporter
Client
Customer
Prospect
Emphasis
On
developing
and
Enhancing
relationships
(customer
keeping)
Emphasis
on new
Customers
(customer
catching)
Advocate
Supporter
Client
Customer
Prospect
Advocate
Supporter
Client
Customer
Prospect
Emphasis
on
developing
and
enhancing
relationships
(customer
keeping)
Emphasis
on new
customers
(customer
catching)
Source: Christopher et al (1991)
13. Basis of CRM
It requires building and maintaining long term
relationship between buyers and sellers.
It is based on trust and commitment between the two
parties.
Emphasis is on retaining the customers over making sales.
CRM ranks customer service as a high priority.
It encourages frequent customer contact.
Fosters customer commitment with the firm.
Bases customer interaction on cooperation and trust.
14. Building loyalty:-
1. Interacting with customers
2. Developing loyalty programs:
Frequency programs
Club membership programs
3. Creating institutional ties
15. Goals Of Relationship Marketing
The goal of customer relationship marketing are:
1) Customer Acquisition
2) Customer Satisfaction
3) Retention of the customers
4) Enhancing the customer base
16. Since it costs five times as much to attract a new
customer as it does to keep a current one
satisfied, the main focus is on customer
satisfaction so as to achieve customer loyalty. This
is important as highly satisfied customers are:
1) Less price sensitive
2) More likely to talk favourably about product
3) More likely to refer product to others
4) Remain loyal for long
18. Platinum Tier - Company’s most profitable
customers, typically heavy users of the product,
not overly price sensitive, willing to invest in and
try new offerings, and committed customers of
the firm.
Gold Tier - Profitability levels are not as high,
perhaps because customers want price discounts
that limit margins or are simply not as loyal. May
be heavy users who minimize risk by working
with multiple vendors.
19. Iron Tier - Essential customers that provide the
volume needed to utilize the firm'’ capacity but their
spending levels, loyalty, and profitability are not
substantial enough for special treatment.
Lead Tier - Customers who are costing the firm
money. They demand more attention than they are
due given their spending and profitability and are
sometimes problem customers—complaining about
the firm to others and tying up firm resources.
21. Different Levels of Relationship
Marketing
Basic Marketing – The salesperson sells to the final
customers. This is also known as direct sales.
Reactive Marketing – The sales person sells the product
and encourages the customer to call for any comments or
enquiries.
Accountable Marketing – The sales person calls the
customers to ensure whether the product is working as per
satisfaction and if there is any problem in the product.
Furthermore he also asks the customer for any suggestions
/ feedback to improve the service / product. Thus he is
taking responsibility for the sale.
22. Proactive marketing – The company works
continuously with its large customers to help improve
performance. This is especially seen in financial
companies wherein the movement in the financial
market induces the company to make changes
regularly. However at the same time, these financial
companies have to take care of their customers as well.
Thus they take regular feedback from their large
customers thereby developing their products
accordingly.
Partnership Marketing – The company works
continuously with its large customers to improve its
performance.
23. Relationship Marketing and the 4Ps
• Product -
More products are customized to the customers’ preferences.
New products are developed and designed cooperatively with
suppliers and distributors.
• Price –
The company will set a price based on the relationship with
the customer and the bundle of features and services ordered
by the customer.
In business-to-business marketing, there is more negotiation
because products are often designed for each customer.
24. Place (Distribution) –
RM favours more direct marketing to the customer, thus
reducing the role of middlemen.
RM favours offering alternatives to customers to choose the
way they want to order, pay for, receive, install, and even
repair the product.
Promotion (Communication) –
RM favours more individual communication and dialogue
with customers.
RM favours more integrated marketing communications to
deliver the same promise and image to the customer.
RM sets up extranets with large customers to facilitate
information exchange, joint planning, ordering, and
payments.
25. Framework For Customer Relationship
Marketing
Create a
Databas
e
• A necessary first step to a complete CRM solution is the construction of a customer
database or information file.
Analysis
• Each row/customer of the database should be analyzed in terms of current and
future profitability to the firm. When a profit figure can be assigned to each
customer the marketing manager can then decide which customers to target.
Customer
Selection
• Segmentation type analyses are performed on purchasing or related behaviour the
customers in the most desired segments (e.g. highest purchasing rates greatest
brand loyalty) would normally be selected first for retention programs.
Customer
Targeting
• A portfolio of direct marketing methods such as telemarketing, direct mail, and,
when the nature of the product is suitable direct sales is used to target customers
Relations
hip
Marketing
• Managers must constantly measure satisfaction levels and develop programs that
help to deliver performance beyond targeted customers expectations.
27. Relationship Marketing Strategies
1. Core Service :-
A key strategy in relationship marketing is the design and
marketing of a `core service’ around which a customer
relationship can be established. The ideal core service is
one that attracts new customers through its need –
meeting character, cements the business through its
quality, multiple parts, and long term nature, and
provides a base for the selling of additional services over
time.
28. 2. Customizing the Relationship :-
By learning about the specific characteristics and
requirements and individual customers, and then
capturing these data for use as needed, service firms can
more precisely tailor service to the situation at hand.
This results in the customization of relationships.
3. Service Augmentation :-
Service augmentation involves building ‘extras’ into the
service to differentiate it from competitive offerings. For
meaningful service differentiation to occur, the extras
must be genuine extras- that is, not readily available from
competitor – that are valued by customers. When this is
the case, customer loyalty is encouraged.
29. 4. Relationship Pricing:-
Relationship pricing mean pricing services to encourage
relationships. An old marketing idea – a better price for better
customer – forms the basis of relationship pricing, another
strategy option available to service companies pursuing
customer loyalty.
5. Internal Marketing :-
In an internal marketing strategy, employees are treated as
“internal customers” who must be convinced of a company's
vision and worth just as aggressively as “external customers.
Internal marketing is based on the idea that customers’
attitudes toward a company are based on their entire
experience with that company, and not just their experience
with the company’s products. Any time a customer interacts
with an employee, it affects their overall
satisfaction. Therefore, customer satisfaction is deeply
dependent on the performance of a company's staff.
30. Relationship Marketing Programs
By observations of the corporate practices ,there are
three types of relationship marketing programs
• Continuity marketing
• One- to – One marketing
• Partnering programs
They take different forms depending upon whether
they are meant for end-customer, distributor
customers ,or business –to-business customers.
Marketers use a combination of one or more types of
theses to build closer and mutually beneficial
relationships with their customers.
32. Background
Volkswagen (VW) is one of the world’s leading automobile
manufacturers and the largest carmaker in Europe. As
Volkswagen pursues its goal of becoming the number one
automaker in the world by 2018, India has become a key
component of its strategy. India is currently the world’s
second fastest growing car market, with shipments
expected to more than double by 2018.
33. CRM Practice -1 “Attracting Working
Professionals”
Challenge
• Create brand awareness among working
professionals
• Build loyalty and aspiration
• Influence decision-making
Solution
• Establish VW-branded Company Page on LinkedIn
• Enable LinkedIn members to recommend their
favorite VW models
• Use LinkedIn Recommendation Ads to extend reach
34. CRM Practice -1 “Attracting Working
Professionals”
Why LinkedIn?
• #1 Resource for career-minded professionals
• Precise targeting by seniority and geography ensures
match with affordability criteria, dealership
locations
Results
• 2,700 product recommendations in 30 days
• 2,300 new followers on VW India Company Page
• 960,000 viral updates about VW car models
35.
36. CRM Practice -2 “Made In India”
Challenge: To foray into the small car segment
Solution: The campaign created by DDB Mudra and
executed by MediaCom, clearly displayed the made in
India factor in the Polo which is rolling out of the Chakan
plant in Pune.
37. CRM Practice -3 “India Assistance
Program”
The services that this program will offer to their passengers
will be:
Travel and accommodation of the passengers in the
incidence of immobilization or theft of the vehicle.
Transport to destination or habitual residence with luggage
and personal belongings.
Towing of the vehicle to VW nearest dealer.
On site repair, if possible.
Dispatch of fuel; Wheel replacement.
Transportation, storage and safekeeping of the vehicle.
38. CRM Practice -4 “Planet Volkswagen”
A new digital campaign, like most of its other initiatives,
it is rich in creativity and ideas. It features a rotating
globe with different land masses for each of Volkswagen
India’s departments.
Since the brand is not very old but has caught on quickly
with Indian people, many want to learn the heritage,
technology and German company’s background.
There’s a Junior section targeted at kids who Volkswagen
see as future customers.
39. Case Study of Sheraton Suites
What people really remember is the guest experience
40. Service Excellence
o Service interaction key to customer loyalty
• Carefully selected and trained staff
• Brand-specific programs
⁻ ‘Building World Class Brands’
• Staff empowerment
• Strong service culture
• Awards for service
41. o Relationship marketing
• Tailored to each guest
• Personable, non-intrusive attention
• ‘It’s Our Pleasure’ program
• Starwood Preferred Guest program
• Loyalty reward point system
• Social media monitoring
42. Process Followed
• Chart the service delivery system.
• Identify critical service issues.
• Set service standards for all aspects of service delivery.
• Develop customer communication systems.
• Train employees on building and maintaining a good
relationship with clients.
• Monitor service standards, reward staff for exceeding
service levels.
• Each employee fully understands the importance of
quality and relationships in the marketing philosophy.
43. Benefits of Relationship
Marketing
• Benefits for Customers:
• Receipt of greater value
• Confidence benefits:
• trust
• confidence in provider
• reduced anxiety
44. • Social benefits:
• familiarity
• social support
• personal relationships
• Special treatment benefits:
• special deals
• price breaks
45. Benefits of Relationship
Marketing Contd.
• Benefits for Firms:
• Economic benefits:
• increased revenues
• reduced marketing and administrative
costs
• regular revenue stream
46. • Customer behavior benefits:
• strong word-of-mouth endorsements
• customer voluntary performance
• social benefits to other customers
• mentors to other customers
• Human resource management benefits:
• easier jobs for employees
• social benefits for employees
• employee retention
47. Disadvantages of Relationship
Marketing :
• Organizational wise change of priority to
customers.
• Significant investment of time and money
• Threatens management’s control/power
struggle
• Heightens people’s resistance to change
• Inappropriate integration leads to disaster
48. Conclusions
There is potential for CRM to help firms to sustain in
market as it is becoming much more competitive.
Successful implementation would mean many changes to
attitudes and structures.
The process would almost certainly be painful.
It would probably be particularly difficult to develop and
install customer centric strategies
If CRM is used must be with the backing of those at the
highest level and it must be planned carefully
A process must be gone through which would take note of
CRM theory and use the experiences of others to maximize
the chances of success
49. Precautions
Don’t attempt to implement CRM without adopting
customer-centric strategies
Don’t justify CRM implementation on the hope of
achieving operational efficiencies
Don’t take shortcuts that bypass key implementation steps
(such as customer satisfaction research)
Don’t try to avoid organisational change
Don’t allow changes in workflow and process without
involving those affected
Don’t let consultants or software vendors limit the scope of
your implementation to their capabilities
50. References
Lo, S. C. (2012). A Study of Relationship Marketing on Customer Satisfaction .
Journal of Social Sciences , 8 (1 ), 91–94. Retrieved from
http://cardiffmet.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMw3V07
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UKQ2QVEz8O85x04btfQPsDqJYt3n3H127r5DiMSDMNjwCdTEIXxIScKUjZkhk
xAqhgKioxA6bMrYOqXEq4ak67H_APyoyQ38cSojPtPNZmS9t_XN9v_AuAbSt
9DVw6RT3bCDqPoKXu8FVhx8
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Performance. Technology, 110.
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Editor's Notes
The VW Info Service will be a part of the VW India Assistance Program which will take care of all needs and necessities for Volkswagen customers in India, covering service appointments, commercial information, complaints management and concierge services. The VW Customer Club is expected to hit off by the second phase of the project.
This new program from Volkwagen will cater a unique Customer Relationship Management service, which aims at offering a one-stop solution to the customers.
The pre-existing website is basically a simple corporate website focused on advertising & a way to locate a dealer for a test drive. But with this new portal, VW aims to take Customer Relationship Management (CRM) to new heights in the auto-industry where, till date, it was limited to after-sales service.
Apart from basics like product & brand promotion, the new web-portal will have games, a separate section for kids (after all they do influence a buying decision!), feature drive destinations, integrate with Social networking sites like: Facebook, Twitter, YouTube. A virtual tour of the VW factory is also on the cards.