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Strategic: Automate Single Customer View

Operational CRM aims to integrate sales, marketing, and customer support through a centralized customer view. It has three main components: sales force automation to manage the sales process, marketing automation to automate marketing tasks and convert leads, and service automation to support customers through multiple channels. Analytical CRM analyzes customer data to present insights that help managers make more informed decisions to improve customer service. Collaborative CRM incorporates external stakeholders to share customer information across groups and organizations. The main components of CRM are building relationships through marketing, managing relationships through distinct phases, and recognizing that customer value varies.

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Satyender Kumar Jain
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73 views

Strategic: Automate Single Customer View

Operational CRM aims to integrate sales, marketing, and customer support through a centralized customer view. It has three main components: sales force automation to manage the sales process, marketing automation to automate marketing tasks and convert leads, and service automation to support customers through multiple channels. Analytical CRM analyzes customer data to present insights that help managers make more informed decisions to improve customer service. Collaborative CRM incorporates external stakeholders to share customer information across groups and organizations. The main components of CRM are building relationships through marketing, managing relationships through distinct phases, and recognizing that customer value varies.

Uploaded by

Satyender Kumar Jain
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Strategic

Strategic CRM is concentrated upon the development of a customer-centric business culture.[11]

Operational[edit]
The primary goal of customer relationship management systems is to integrate and automate sales,
marketing, and customer support. Therefore, these systems typically have a dashboard that gives an
overall view of the three functions on a single customer view, a single page for each customer that a
company may have. The dashboard may provide client information, past sales, previous marketing
efforts, and more, summarizing all of the relationships between the customer and the firm.
Operational CRM is made up of 3 main components: sales force automation, marketing automation,
and service automation.[12]

 Sales force automation works with all stages in the sales cycle, from initially entering contact
information to converting a prospective client into an actual client.[13] It implements sales
promotion analysis, automates the tracking of a client's account history for repeated sales or
future sales and coordinates sales, marketing, call centers, and retail outlets. It prevents
duplicate efforts between a salesperson and a customer and also automatically tracks all
contacts and follow-ups between both parties[13][14].
 Marketing automation focuses on easing the overall marketing process to make it more effective
and efficient. CRM tools with marketing automation capabilities can automate repeated tasks, for
example, sending out automated marketing emails at certain times to customers, or posting
marketing information on social media. The goal with marketing automation is to turn a sales
lead into a full customer. CRM systems today also work on customer engagement through social
media.[15]
 Service automation is the part of the CRM system that focuses on direct customer service
technology. Through service automation, customers are supported through multiple channels
such as phone, email, knowledge bases, ticketing portals, FAQs, and more.[12]
Analytical[edit]
The role of analytical CRM systems is to analyze customer data collected through multiple sources
and present it so that business managers can make more informed decisions.[16] Analytical CRM
systems use techniques such as data mining, correlation, and pattern recognition to analyze the
customer data. These analytics help improve customer service by finding small problems which can
be solved, perhaps by marketing to different parts of a consumer audience differently.[12] For
example, through the analysis of a customer base's buying behavior, a company might see that this
customer base has not been buying a lot of products recently. After scanning through this data, the
company might think to market to this subset of consumers differently, in order to best communicate
how this company's products might benefit this group specifically.[17]

Collaborative[edit]
The third primary aim of CRM systems is to incorporate external stakeholders such as suppliers,
vendors, and distributors, and share customer information across groups/departments and
organisations. For example, feedback can be collected from technical support calls, which could help
provide direction for marketing products and services to that particular customer in the future.[18]

Customer data platform[edit]


Main article: Customer data platform
A customer data platform (CDP) is a computer system used by marketing departments that
assembles data about individual people from various sources into one database, with which other
software systems can interact.[19] As of February 2017 there were about twenty companies selling
such systems and revenue for them was around US$300 million.[19]

Components[edit]

Components in the different types of CRM[18]

The main components of CRM are building and managing customer relationships through marketing,
observing relationships as they mature through distinct phases, managing these relationships at
each stage and recognizing that the distribution of value of a relationship to the firm is not
homogeneous. When building and managing customer relationships through marketing, firms might
benefit from using a variety of tools to help organizational design, incentive schemes, customer
structures, and more to optimize the reach of its marketing campaigns. Through the
acknowledgement of the distinct phases of CRM, businesses will be able to benefit from seeing the
interaction of multiple relationships as connected transactions. The final factor of CRM highlights the
importance of CRM through accounting for the profitability of customer relationships. Through
studying the particular spending habits of customers, a firm may be able to dedicate different
resources and amounts of attention to different types of consumers.[20]
Relational Intelligence, or awareness of the variety of relationships a customer can have with a firm,
is an important component to the main phases of CRM. Companies may be good at capturing
demographic data, such as gender, age, income, and education, and connecting them with
purchasing information to categorize customers into profitability tiers, but this is only a firm's
mechanical view of customer relationships.[21] This therefore is a sign that firms believe that
customers are still resources that can be used for up-sell or cross-sell opportunities, rather than
humans looking for interesting and personalized interactions.[22]

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