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CUSTOMERRELATIONSHIPMANAGEMENT(CRM)An Overview....
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Introduction to CRM
CRM is neither a concept nor a project .Instead,it is a business strategy that aims to understand,
anticipate & manage the needs of anorganization's current and potential customers.
The objective of a CRM is to ensure that anindividuals customers needs are profitably
satisfied at the right time in the right manner
with the right offer.
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Evolution of CRM
CRM is the modern improvisedversion of
Corner stores & door-to-door saleswhich is
chiefly based on the personalinteractions,
intimacy & knowledge about thecustomers
over the period of times.
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Types of CRM
Win Back orSave
PROSPECTING
Loyalty
Cross
selling/Upselling
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The CRM Cycle
ASSESSEMENT
Phase
PLANNING
Phase
EXECUTION
Phase
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in continuationLet us see some assessment questions:-Who are the customers?
Where do they live?What are their demographics & lifestyle?What are their worth or livelihood?
What & how do they buy?
What are their purchasing patterns?How can they be reached?
How have they responded to the promotions inthe past?
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Business Drivers of CRM
There are mainly three primary reasons why CRMhas taken hold rapidly, the reasons are asfollows:-
1. Fierce Competition.2. The economics of customerretention arenot clear.3.Technology allows organizationsto do this more effectively &profitably today.
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Key elements of a CRM
Architecture
CustomerFocused
Systems(AnalyticalSystems
Functional &Product
Systems(OperationalSystems)
CustomerFacing
Systems(ContactSystems)
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CRM Essentials
CRM programs involve three basic businessprocesses :-Marketing
AutomationSales Force
AUTOMATIONCustomer
Service
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in continuationHigh-end
campaign
B2C marketing.
Main focus on campaign
planning, management& tracking.
Webdrivencampaign
B2B marketing.
Use Internet, Directmail, fax & Telephone ascampaigning tools.
Marketing-orientedanalysis
Focuses on measuringsales & marketing.
For e.g.. Cust.Profitability & cust.churn .
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in continuationSales Force Automation or SFA is the fastest
growing CRM segment with critical functions such as:
Account management
Contact management
Quote management
Marketing encyclopedia
Forecasting
Win/Loss analysis
Sales administration
Lead generation & tracking
Field sales
Call center telephone sales
Order management
Order fulfillment
Third-party brokers
Distributors or agents
Retail E-commerce
Integration of marketing
Customer service functions
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in continuation(Customer service)
Customerservice
Internetbased
service
Selfservice viaWeb site
Call centrevoice & non-voice support
Repair byDoor-step
service
Servicestations
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Implementation of CRM
Strategy Segmentation Technology
ProcessOrganization
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Advantages of CRM over Traditional
Mass-Media Marketing
1. Easy to target specific customers.
2. Easy to track the effectiveness of a givencampaign.
3. Prevents overspending on low value clients &under spending on high value ones.
4. Reduces advertising costs.
5. Speeds up the time to develop & market aproduct.
6. Makes most with each contact with thecustomer.
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in continuation7. Round the clock availability goods &
services
8. 24-7 customer service9. Helps in building global business
relationships.
10. Developing on-line mart concept likeEbay.
11. More fast & efficient than traditionalmarketing ways.
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Conclusion
CRMis a comprehensivesales & marketingapproach to build longterm CustomerRelationship &improving businessperformance.
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Any Questionsplease ?
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Thankyou!!!
Deveoped & processed bySiddharth Datta.