Module 02
CRM Process
Dr. Savita Sharma
Meaning:
CRM process involves the activities and strategies that
companies use to manage their interaction with current and
potential customers.
Benefits:
Understanding customers and creating collaborative
relationships through knowledge acquisition and
customer differentiation
Enhancing effectiveness through integration of its
stakeholders (suppliers, manufacturers, dealers,
customers)
e-CRM
CRM with the use of internet and other technologies.
Companies organize in better manner.
Interact with customers effectively.
Helps the company to understand customers with 360 degree
view.
Personalized services are extended.
Analysis can be done.
Salient Features of e-CRM
E-CRM is driven by a data warehouse which is
maintained by the organization and has a database of all
the purchases made its customers.
Main focus is to reach to the customers.
It helps the company to adapt itself to the changing
dynamics of the market.
It is designed on the basis of profitability and long-term
potential.
Advantages of e-CRM
Reduces costs
Adapting new technology
24/7 availability
Integrating with system
Helps in constructing data
Increased interaction with its customer
Moderating or changing
Managing the collection of data
Reducing the response time
Advantages of e-CRM
Reducing the marginal cost
Opportunity to service new customers
Personalizing the reach and service
Customer documentation done automatically
Control of its users
Disadvantages:
Difficult to measure and evaluate as it is intangible.
No human engagement.
User acceptance is poor.
Difference b/w CRM & e-CRM:
E-CRM CRM
Uses wireless, technology, Uses phone, fax and retain
internet and e-mail to contact stores for contacting
its customers customers
Personalized view of Personalized view of
application is available. application is not available.
Customers do not have to Customers have to download
download web-based different web-based
applications. applications.
Designed on the basis of CRM system is designed
customers’ need. related to job production and
Less expensive its functions
Highly expensive
Customer Touch Points
It is used to interact and connect with the customers.
Examples are:
Sales Team
Retail branches
Direct mail
Kiosks
Call centre
E-mail/ fax
Internet
CRM as Process:
Discovery of
knowledge
Analysis and Learning/ Customer
fine tuning Action Interaction
Planning in
Market
4 Cs of CRM Process
Correlate:
- Data involved in interaction and transaction is
collected.
Provides a comprehensive customer profile.
Helps the company to identify opportunities and
developing strategies.
Form technological changes if required.
Incoming and outgoing e-mails are matched.
Information is correlated for further use and plans.
4 Cs of CRM Process
Combine
Improved mapping and managing of all interactions
between customers, Consumers, channels and organization.
Company’s procedures and CRM process are aligned with
each other.
Two levels of iterations (duplications)
Combined effects enhance company’s efficiency.
Better decision-making processes.
Combination of reporting, forecasting, strategic planning &
performance measurement is carried out.
4 Cs of CRM Process
Cognize
Insights gained by data warehouse and knowledge base
is analyzed to provide continuous learning.
Identify quality leads through better contact
segmentation and targeted campaigns.
Improves the efficiency of company and enhances cash
flow.
Employees can be rewarded for their performance.
4 Cs of CRM Process
Connect
Insights available are identified to create
appropriate interactions with customers, channels,
suppliers and relationships are build up.
Better time management for staff.
Schedules are made like team calendars, dairies,
service timing.
Alignment of customer sales and streamlining the
processes.
CRM Cycle:
Assessment
Phase
Planning
Execution Phase
Phase
Questions?
