CRM has evolved from initial door-to-door sales forces to mass marketing and then targeted marketing using direct mail and telemarketing. The latest evolution is customer relationship management (CRM), which uses latest technologies to focus on managing the entire customer lifecycle from acquisition to retention. CRM involves understanding customers, applying that knowledge to marketing strategies, and differentiating customer treatment based on preferences. It promises to help companies get to know customers better in order to retain the right customers and maximize profit.
This chapter provides the basics of Electronic Customer Relationship Management and gives a clear idea about the e-CRM. It also gives the knowledge of changing perspective of the e-CRM practices
This chapter provides the basics of Electronic Customer Relationship Management and gives a clear idea about the e-CRM. It also gives the knowledge of changing perspective of the e-CRM practices
CRM definition
CRM characteristics
Components
The role of CRM
Examples of a successful CRM
The challenges that CRM faces
Success factors of CRM
Research discussion
Municipal
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 st
CRM definition
CRM characteristics
Components
The role of CRM
Examples of a successful CRM
The challenges that CRM faces
Success factors of CRM
Research discussion
Municipal
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 st
MIS 13 Customer Relationship ManagementTushar B Kute
The slides are created for 'Management Information System' subject of SEIT under University of Pune, INDIA.
Subject Teacher: Mr. Tushar B Kute,
Sandip Institute of Technology and Research Centre, Nashik.
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.
2. Evolution
Initially, there were Door-to-Door sales forces to approach the
customers.
Then, Mass marketing replaced the intimacy of a direct sales
force.
Later, Targeted marketing evolved. Use of direct mail and
telemarketing.
Latest is Customer Relationship Management (CRM), the next
step in Evolution. A concept supported by latest technologies.
3. EVOLUTION OF CRM
DATABASE
1980’S
MARKETING
•Focus on Data Mining and
Direct Marketing was the
outcome
RELATIONSHIP 1990’S
MARKETING
•Focus on loyalty programs
CUSTOMER 2000’S+
RELATIONSHIP
MARKETING
4. Defining CRM…
CRM is about how you attract, develop and retain
customer.
Customer Focus; Customer acquisition, Customer
research, Customer loyalty, Customer development,
Customer satisfaction, Customer value,
5. What is CRM all about…..
CRM promises to help companies to get to know their
customers.
CRM helps an organization to understand which
customer to retain and which ones they should be willing
to lose- and why?
Overall helps in targeting, spending money wisely,
saving time & customer satisfaction.
CRM is how to differentiate customer treatment
according to individual preferences.
6. Why CRM…..
Customers are fickle and becoming more cynical.
We no longer believe what we read and see.
Convergence of markets.
Competition- leader or follower?
Customer loyalty at any cost.
7. GOALS OF CRM
Provide better customer service
Cross sell products more effectively
Helps sales staff
Simplify marketing and sales processes
Discover new customers and new customer needs
Increase customer revenue
8. Defining CRM
Dr. Robert Shaw (as cited in Customer
Relationship Management, 2001) provides a
more thorough definition of CRM.
Customer relationship management is an
interactive process for achieving the optimum
balance between corporate investments and the
satisfaction of customer needs to generate the
maximum profit.
tsnethra@gmail.com
NIFT Bangalore
9. Defining CRM
Measuring both inputs across all functions
including marketing, sales and service costs
and outputs in terms of customer revenue,
profit and value.
Acquiring and continuously updating knowledge
and customer needs, motivation and behavior
over the lifetime of the relationship.
tsnethra@gmail.com
NIFT Bangalore
10. Defining CRM
Applying customer knowledge to continuously
improve performance through a process of
learning from successes and failures.
Integrating the activities of marketing, sales
and service to achieve a common goal.
tsnethra@gmail.com
NIFT Bangalore
11. CRM: A Customer-centric business strategy
A Customer-centric business strategy which
Focuses on Managing and optimizing entire
customer life cycle.
Demand re-engineering of work processes
with customer in focus.
It consists of 3 phases
Planning Phase
Assessment Phase
Execution Phase
12. In-depth analysis of
customer behavior and
attributes.
Applying of the achieved
knowledge in the
formulation of marketing
campaigns, strategies and
treatment plans.
More than just a set of
technologies – it is a
process.
tsnethra@gmail.com
NIFT Bangalore
13. Benefits of CRM
Company existence – quest for profit.
Three ways to increase the profitability of the customer base
Acquire more customers
Optimize the value of the existing customers
Retain the right customers longer
Acquiring new customer cost 5-10 times more that retaining the
existing one
Loyal customers will will buy more and are willing to pay premium
prices
20/80 rule – 20% of the customers generate 80% of the revenue
14. Continued…..
Service leaders enjoy the following advantage over their low-
service competitors:
They grow twice as fast.
They experience a 6% annual growth vs. a 1% share loss (they
take customers away from their competitors).
They can charge 10% more from their products and still take
customers away.
They enjoy 12% vs. 1% average return on sales.
Industry statistics show that 68% of customers walk away
because of poor customer service.
tsnethra@gmail.com
NIFT Bangalore
16. Mass Marketing
Replaced the intimacy of direct sales
One way communication
Wide geographic distribution
Lost is the personal touch with the
customer
Mass marketing was enabled trough the
technological improvements in TV, radio,
printed press
17. Target Marketing
Direct mail, telemarketing
Receiving customer response
Lack of specific data, average response rate
Islands of information
18. CRM
Next evolutionary step, back to intimacy
Customer loyalty build on:
Understanding of customers wants, needs and values
Interactivity with the customer in the way customer prefer
19. Evolution of Customer Relation
over time
Customer relationship management is an
attempt to modify customer behavior over
time and strengthen the bond between the
customer and the company.
The key to CRM is identifying what creates
value for the customer and then delivering it
(Newell, 2000).
20. Evolution of customer relation over time
Acquire the „right“
Customer
Value of customer relation
customers with
high potential Retention
value
Customer
Development
Cross- and up- Retain profitable
Customer sell by offering customers and
Acquisition the right products increase their
at the right time long-term value
Evolution of customer relation over time
21. CRM Cycle
Assess
Who are the customers – demographics and lifestyle?
Where do they live?
What are they worth? What is their lifetime value potential?
What and how do they buy?
How can they be reached? How have they responded to
promotions in the past and trough which channels they
prefer to be reached?
Plan
Execute
Execution and management of the marketing campaigns
and customer treatment plans.
Data gathering.
22. CRM Critical Success Factors
Architecture
Data warehouse
Data structure and architecture – 80% of the
service cost
Analysis,
Analysis, Customer Interaction
Customer Interaction
Profiling
Profiling Sales force automation system.
Sales force automation system.
Call center
Call center
The Internet
The Internet
23. Planning Phase
Plan to approach the customers
Plan for making new campaigns
This phase includes
Marketing tools
Various Softwares
Marketing & Sales personnel are involved in this
phase
24. Assessment Phase
Select customer base for analysis
Analyze customer requirements
This phase includes technologies like
Data warehousing
Data Mining
Online analytical processing (OLAP)
A certified personnel sets up the CRM package
while a business analyst analyzes the data
25. Execution Phase
Customer interaction
Executes campaigns
Track customer feedback
This phase uses
Internet
Call centers
Direct mails etc.
26. Technology behind Assessment Phase
Integrates with Data Warehouse &
Data OLAP to implement intelligent
Mining algorithms to discover patterns.
Data
Warehouse
Warehouse
containing
OLAP
Customer data.
Server
User analyzes these
patterns to take decisions
Multidimensional Structures
suitable for his business.
to facilitate better and fast
analysis of data.
27. DATA WAREHOUSING
A data warehouse is a copy of transactional data.
Data is specifically structured for querying and reporting
A data warehouse can be a relational, multidimensional
hierarchical database or a flat file.
DISTINGUISHABLE FEATURES
• Contains historical data
• No frequent updates
• Data stored is subject oriented
TERMINOLOGY
Data Mart- Contains data about a specific subject.
Metadata- Describes the data stored in data warehouse.
Data Cleansing- The process of ensuring that all values in a dataset
are consistent and correctly recorded
ETL- Extraction, Transformation and Loading of Data.
28. A Typical Data Warehouse
Data Warehouse
Summarized Data Data about data.
Meta Data Facilitates in firing
queries on
detailed data.
Detailed Data
Data marts contain
Data Data Data data specific to a
Mart Mart Mart subject.
customer campaign sales
tsnethra@gmail.com
NIFT Bangalore
29. OLAP
•Online analytical processing is the name given to database and
user interface tools that allow to quickly navigate within data.
•Provides a mechanism to store the data in multidimensional
cubes.
DISTINGUISHABLE FEATURES
•Multidimensional Cubes- To store data which are multidimensional in
nature.
•Calculation Intensive- Allows complex calculations on database.
tsnethra@gmail.com
NIFT Bangalore