Post on 19-Nov-2014
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CRM – An Overview
CRM – An Overview
Section H1 – Group 2
ContentsWhat is CRM ?History of CRMHow it can be used ?Aspects of CRMVarious CRM SuitesExamples !Market ShareFuture CRM Trends
What is CRM• An integrated approach to identifying, acquiring and
maintaining customers – siebel.com. • Broadly recognized, widely-implemented strategy for
managing and nurturing a company’s interactions with customers, clients and sales prospects - Wikipedia
• Term applied to processes implemented by a company to handle contact with its customers.
• It’s a software-based approach to handling customer relationships.
• Overall Goal – Find, attract and win new clients, retain and nurture existing ones and reduce the cost of marketing and client service.
BackOffice
Partner
Customer
Information
Analytics
Marketing
Web
Call Center
Field
Customers
What is CRM?
History of CRM 1980s – Database Marketing Emerges 1980s – Database Marketing helped larger organizations
rather than smaller organizations. 1990s – CRM appears as a two way communication
device 2000s Internet age – CRM revolution – CRM expands
from stagnant storage to ready to use information storage 2000s Used most frequently in financial services, high
tech corporations and telecommunications industry.
How CRM can be used
The Four Aspects of CRM
1. Active CRM: A centralized database for storing data, which can be used to automate business processes and common tasks.
2. Operational CRM: The automation or support of customer processes involving sales or service representatives
3. Collaborative CRM: Direct communication with customers not involving sales or service representatives (‘self service’)
4. Analytical CRM: The analysis of customer data for a broad range of purposes
Source: Wikipedia
Five Views of CRM• Marketing Automation : Designed to get the right
mix of the company’s products and services in front of each customer at the right time.
• Sales Automation : Collaborative tools that enable all parties to the transaction to interact with one another.
• Service and Service Fulfillment : Serving existing customer base through problem resolution systems, workflow automation and field service dispatch systems
Five views of CRM
• Customer Self-Service : Capabilities that can be directly invoked by the customer on the internet via PC and wireless devices.
• E-Commerce : Capabilities such as shopping, marketplace, transaction and payment processing, and e-commerce security
Main Hindrance in CRM Implementation
• Cost factors: Complete third part CRM solutions (all modules) can be afforded only by very few companies.
• Technology (used by many of the companies implementing CRM) is heavily dependent upon the penetration of telecommunications which is very low in India.
• Lack of available databases of customers which form a crucial part of CRM Solutions.
http://www.som.iitb.ac.in:8080/bitsurvey/uploaded_documents/ICT_Pilot.pdf
Examples
The CRM enabled companies include :
• Major Telecom Companies • Banking and Insurance Services• TVS Electronics• Cannon India• HP India• Carrier Refrigeration • Planet M• Dell India
Market Share & Revenue
Vendor Revenue
SAP 2055
Oracle 1475
Salesforce.com 965
Microsoft 581
Amdocs 451
Others 3627
Totals 9147
Future CRM Trends• The market for customer relationship management
(CRM) in India is expected to grow at a compounded annual rate of 40 per cent each year.
• The CRM services market was expected to grow even faster at a rate of 53 per year.
• Aligning products, services and contractual agreements to enable customer business imperatives of higher client acquisition, retention and satisfaction.
• CRM projects are no longer viewed as stand-alone implementations but are now being increasingly pursued in context of larger business objectives and core strategic agendas.