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Introduction To Customer Relationship Management CRM

Customer Relationship Management (CRM) is a strategic approach that uses information, processes, technology and people to manage customer relationships. CRM focuses on customer relationships rather than individual transactions, representing a shift towards more customer-centric strategies. CRM tools provide personalized customer interactions by integrating customer data from sources like collaborative filtering, expert systems, artificial intelligence and relational databases.

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Marischiel Sablan
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56 views

Introduction To Customer Relationship Management CRM

Customer Relationship Management (CRM) is a strategic approach that uses information, processes, technology and people to manage customer relationships. CRM focuses on customer relationships rather than individual transactions, representing a shift towards more customer-centric strategies. CRM tools provide personalized customer interactions by integrating customer data from sources like collaborative filtering, expert systems, artificial intelligence and relational databases.

Uploaded by

Marischiel Sablan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Introduction to

Customer Relationship
Management
INTRODUCTION TO CRM

• Customer Relationship Management (CRM) is the most


potent and scientific approach in maintaining and forging
bonds with customers.
• CRM has at its core the focus on Customer relationships
as opposed to one-time transactions signifies a paradigm
shift that has revolutionized marketing.
INTRODUCTION TO CRM

• Organizations worldwide are adopting customer centric


strategies, programs, tools and technology for efficient and
effective customer relationships.
• Companies are realizing the need for in-depth and
integrated customer knowledge in order to build close
cooperative and partnering relationships with their
customers
INTRODUCTION TO CRM
• CRM tools promise to individualize and personalize the
relationships with customers by providing vital information at every
point in the interface with the customer
• Techniques deployed in CRM initiatives
• collaborative filtering,
• rule based expert systems
• Artificial intelligence
• Relational databases
DEFINING CRM

• Way to identify, acquire and retain customers


• Way of automating the front office functions of sales,
marketing and customer service
• CRM has diverse definitions on the basis of diverse
perspectives which includes Business perspective, Sales
Force & Customer Service Automation perspective and
thirdly, integrated and technology enabled CRM.
DEFINING CRM

• CRM is thus a strategic use of information, processes,


technology and people to manage the customer’s
relationship with the organization across the whole
customer life cycle.
MAIN ELEMENTS OF CRM DEFINITION

• Focus on strategic impact rather than operational


impact
• Benefits are generally long terms rather than
immediate
• Requires understanding that benefits will really
occur and set realistic expectations
MAIN ELEMENTS OF CRM DEFINITION
• CRM is a total discipline
• CRM Uses
• Machine – CRM technology
• Power – People
• To Turn Raw material – customer information
• Into Products – Processes and interactions that build
customer loyalty
KEY COMPONENTS OF CRM
• Information – It is a key raw material for CRM. The key
steps include data identification, marketing data, listing of
data and overlay of data.
• Process – Customer centered processes are the product
of CRM
• Technology – It is the machinery that enables CRM to
Work
• People – People are the energy source of the CRM and
must be set right for the entire system to work.
KEY COMPONENTS OF CRM

• Identification Data – Name, address, phone etc


• Marketing Data – Descriptions, traits, preferences
• List data – Name and address collected by third party
which can be bought or leased
• Overlay data – Customer profile data collected by a third
party which can be leased and appended to existing
customer records
KEY COMPONENTS OF CRM - PROCESS

• All current and future processes that touch the customer


• Touch points or means by which one interacts with
customers
• Identifying and eliminating process disconnects and white
spaces
• Integrating and rationalising processes from the customer’s
point of view
KEY COMPONENTS OF CRM -
TECHNOLOGY
• Software products – process automation tools, analysis
tools
• Networking and integrating applications and databases
• Databases, either purchases or home grown
• Security features such as encryption tools and firewalls
KEY COMPONENTS OF CRM - PEOPLE

• People are reset through various change


management tools and support mechanisms
–Training and education
–New Tools
–Measurements and rewards

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